Daily Writing 02/11/2020

The primary headlines still center around the spreading novel coronavirus which originated in Wuhan, China.[1]  A World Health Organization senior medical advisor indicated that coronavirus infections should be over by April.[2]

Overall, the broader economic impact of the viral outbreak is still unclear, both domestically in China and globally.  Bridgewater’s Ray Dalio believes the market impact of Coronavirus is “exaggerated.”[3]

An interesting knock-on effect of the novel coronavirus: the viral outbreak has started to drive demand for China’s online grocers.[4]

Related to China, Federal prosecutors announced charges Monday against four Chinese intelligence officers for hacking the credit-reporting giant Equifax in one of the largest data breaches in history. [5]

It was a pretty big deal when the Chinese yuan fell above 7.00 USD/CNY.  Now that USD/CNY has risen below 7.00 it could be worth following throughout the coming weeks and months.

 

Sources

[1] https://www.bloomberg.com/news/articles/2020-02-10/death-toll-tops-1-000-mortality-estimate-at-1-virus-update?srnd=premium

[2] https://www.reuters.com/article/us-china-health/coronavirus-may-be-over-soon-in-china-expert-says-as-who-warns-of-global-threat-idUSKBN20504Y

[3] https://www.bloomberg.com/news/articles/2020-02-11/ray-dalio-says-market-impact-of-coronavirus-is-exaggerated

[4] https://www.bloomberg.com/news/articles/2020-02-10/coronavirus-outbreak-drives-demand-for-china-s-online-grocers

[5] https://www.politico.com/news/2020/02/10/us-charges-chinese-spies-with-massive-equifax-hack-113129

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