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The number of potential coronavirus vaccines in development is now above 70

But, these are just two of many. The World Health Organization (WHO) says there are 70 coronavirus vaccines in development globally:
  • three are already already being tested in human trials
There are manufacturing contenders in the race:
  • Hong Kong-listed CanSino Biologics
  • Beijing Institute of Biotechnology
  • US’ Moderna and Inovio Pharmaceuticals
  • Pfizer and Sanofi also

China says the coronavirus vaccine to be submitted for clinical trials around late April

China Vice Technology Minister Xu says that the fastest a coronavirus vaccine to be submitted for clinical trials will be around late April

So, good news and bad news in that.
ps. China’s Global Times have now reported on that outbreak at a prison with 200+ cases reported.
  • Rencheng Prison
  • located in Jining City, Shandong Province
  • 207 new confirmed cases

Is the coronavirus’ impact on financial markets overblown?

A look at the key question in markets right now

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The Coronavirus continues to see an outbreak globally with the latest estimates putting the death total over 900 persons. With fear continuing to spread and millions disrupted, financial markets have certainly been impacted.

Typically, most problematic geo-political or economic events have always managed to yield some material effect on markets. This was seen earlier this year with the rising tensions between the US and Iran.

However, the Coronavirus is itself an entirely different animal, whose impact is far more globally reaching. This article will explore how the virus has correlated to financial markets and which instruments should be looked at.

How does the virus affect global markets?

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Death toll in China’s coronavirus outbreak has risen to at least 212

And the number of cases of coronavirus confirmed across thje glove is now over 8,100 9,000

For Hubei province (Wuhan is the capital city of Hubei and the epicentre of the outbreak)
  • 42 deaths confirmed
  • 1,200 new cases confirmed over the past 24 hours
More figures will come as the morning progresses in China, but as a heads up it appears more than 70% of new cases are outside of Hubei province.

What is your preferred source of safety from the Coronavirus?

Via Bloomberg, question of the day ?

Via Bloomberg, question of the day ? 
This was a question on Bloomberg Market’s Live blog this week and I thought I would ask our Forexlive readership the same question. What are you looking at for safety in the current concerns over the coronavirus?
  • Treasuries: One of the first ‘go to places’.
  • Gold: Another quick go to place for value. Short term it makes sense for a quick spike, but longer term the improving US outlook means that gains should be capped
  • Bitcoin: Sometimes mirrors gold as a digital ‘gold’, but for some investors the jury is still out whether bitcoin is here to stay or a first flush of a changing digital age that may or may not be here. For me, when investing in a safe haven on the coronavirus fears, I would favour gold over bitcoin every time. Is that just an unfair bias and unnecessary conservatism, or sensible? Anyone take the other view?
  • Tech stocks: Seen as less vulnerable as industrials, finance or energy stocks. Perhaps long health stocks?
Other areas to look at?

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China imposes restrictions on travel to Beijing

More signs of how serious Beijing is taking the epidemic

Bus travel corona virus
China reported 10 new coronavirus cases in Beijing today and there are now 51 cases in the city.
The latest restrictions prevent bus travel to Beijing from elsewhere. Private cars and trains are still allowed but passengers via those methods are more-often tracked.
As CNBC Beijing correspondent Eunice Yoon reports:

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