UEUR - Italy The Coronavirus And Markets: A Renewed Flight To Safety

By Chris Turner, Global Head of Strategy and Head of EMEA and LATAM Research et al.

The jump in Covid-19 cases in Italy has prompted a risk-off run in markets with equities dropping worldwide. The flight to safety could see BTP:Bund spreads widen a little further. In the FX space, we think the dollar and gold could continue to outperform.

Events in Italy raise broader concern

At the end of last week, markets appeared almost settled with the idea that the risk of a broader spread of the virus looked marginal as the narrative of

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