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S&P: Global macro impact of coronavirus has doubled since Feb. 11

The surge of coronavirus cases outside of China is a rising risk to global economies and credit markets, S&P Global Ratings said in a recently published report. 

"With COVID-19 now present in more than 70 countries, the global macro impact has doubled since our last update on February 11," the S&P noted, per Reuters. "Stabilization of the health situation due to coronavirus and macroeconomy is like to happen during the second quarter."

Market sentiment

Markets remain risk-averse on Tuesday with Wall Street's main indexes losing more than 1% and the 10-year US Treasury bond yield erasing 11.3% on the day.

GBP/USD backs off from highs due to higher market volatility, Fed emergency cut

GBP/USD is trading at 1.2826 at the time of writing, up some 0.6% having climbed from a low of 1.2739 to a high of 1.2843 following today's emergency
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USD/JPY off five-month low, but not out of the woods yet

USD/JPY is seen making minor recovery attempts from a new five-month low of 107.18, reached after the US Federal Reserve (Fed) unexpectedly cut the in
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