For a few days, there had been signs of improvement in sentiment, as the outlook of COVID-19 (what used to be the Coronavirus) showed signs of peaking and positioning of risk in financial markets picked up. However, this improvement has been dealt a sizeable blow overnight as a sharp rise in the number of cases and deaths has been announced. The Chinese authorities have changed the methodology of how they record the number of cases of the virus (to include “clinically diagnosed”), causing the statistics to balloon by over 13,000 in one day. Clearly far more than they would previously have been. Whilst this is simply ... (full story)