Gone are yesterday’s concerns about the secrecy of the Chinese regime and the severity of the virus, after the government changed the criteria for diagnosis, leading to a dramatic increase in the new cases. Central banks will all kiss it better….
Coronavirus deaths are still accumulating. 1,380 fatal cases to date. A figure close to that of the previous day because the authorities have removed duplicates after improving their tracking system (hum! enough to add to the confusion and conspiracy theories). Nevertheless, with 63,851 cases recorded, the rise continues within the country's borders. Outside the country, mortality remains extremely low and the spread seems to be contained.
Investors also shrugged new signs of tensions between Washington and Beijing, as the U.S. charged Huawei with racketeering conspiracy and conspiracy to steal trade secrets.
Now, on the political side. Yesterday, attorney general William Barr, who is renowned for his loyalty to Trump, stated that it impossible to carry out his mission due to Trump’s tweets against his country's justice. This came after Donald called his old friend Roger Stone's indictment a miscarriage of justice. This episode comes in addition to (many) others. Does Donald Trump's economic record make him invulnerable?
Today, on the agenda, we have fourth quarter 2019 GDPs in Germany and the euro zone. Eurostat will also release monthly trade balance and quarterly employment figures. In the United States, Retail Sales, Industrial Production and Capacity Utilization and the University of Michigan Preliminary Index and Business Inventories will close the week.