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This year has gotten off to an unusual start in the financial markets. Typically, the focus would be on the Federal Reserve (Fed) and/or economic developments, but unfortunately, the coronavirus has taken center stage. I thought it would be useful to offer some insights from a bond market perspective, using the SARS outbreak of November 2002 to July 2003 as a comparative event.
I'm certainly not the only one doing such an analysis, but what I found is that the SARS episode did not occur in a vacuum. The current coronavirus and