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February market update – number of coronavirus cases impacts global economy

Chief Investment Officer Chris Godding and Senior Research Analyst Louie French give their commentary on what happened in the markets and global economies over the month of February 2020
Chris Godding
Written by Chris Godding
Published on 10 March 2020

Global equity markets experienced a sharp sell-off at the end of February linked to fears over the growing number of global coronavirus cases and the expected impact on the global economy. In fact, a number of developed market equity indices experienced their largest weekly losses since the 2008 Global Financial Crisis. 

In this edition


  • Global commodity markets were generally weak on expectations of lower demand
  • The traditionally more defensive asset classes, such as core government bonds, outperformed
  • In currency markets, the Japanese yen and US dollar were also notably strong over the month

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