Investors are brushing aside the virus fears
The Shanghai Composite index was down by around 1% earlier today but has recovered strongly over the past few hours as China vows to take measures to prevent and control the new coronavirus outbreak.
Markets were largely gripped by fear in trading yesterday but that seems to be receding now as we are seeing more optimistic tones across asset classes.
US futures are up by ~0.5% while bond yields are also creeping back higher as we start to move towards European trading. Meanwhile, gold is also down by 0.3% to $1,553.10.
In the currencies space, USD/JPY is sitting higher slightly back above the 110.00 level as investors are seemingly less fearful about the situation currently.