Overview
Investors appear to be increasingly looking past the latest coronavirus from China as new afflictions slow. Despite the soggy close of US equities yesterday, Asia-Pacific bourses are nearly all higher, led by more than 1% gains in Singapore and Thailand. The Dow Jones Stoxx 600 is at new record highs, led by the consumer discretionary and materials sectors. US shares are also trading higher. Safe haven flows into bonds continue to unwind. Benchmark yields are mostly higher, led by the 10 bp jump in New Zealand's 10-year yield following a hawkish hold by the