New Zealand Prime Minister Ardern preparing New Zealanders for some bad times ahead: – says modelling suggests NZ could have several thousand case of cov1 COVID-19 before the country's containment measures take effect Earlier from NZ, tighter restrictions:

Japan repo rates are now the most negative ever – Banks are on the hunt for US dollars – And using JGBs to as (one form of ) collateral for USD swaps Its worth reading this Bloomberg piece, especially if you are new to this sort of financial market plumbing

Revenue for Chinese governments (central and local) has dropped 9.9% y/y (in January and February combined) following the economic shut down. – biggest fall since February 2009 There was some offset from a fall in government spending

Magnitude 7.8 earthquake off Russia's Severo-Kuril'sk – 219 km SSE of Severo-Kuril'sk, Russia – Depth 56km    – Japanese authorities say there may be a small sea level change in Japan from the waves, but no damage reports as of now.

Forex news for Asia trading Wednesday 25 March 2020  A quieter day on the forex today in Asia as once again the focus was on the US Congress and the negotiations over the coronavirus economic relief measures. As I post there still has not been a vote (and indications are a vote is unlikely this […]

RBA taps into the semi-government bond market here As Australia begins to impose new restrictions to counter the virus outbreak, it will start to have a negative impact on state government revenues so this is mainly to help with calming the volatility in the semi-government bond market.

It is all about the headlines and emotions right now Pardon me for my skepticism but the sharpest of bounces tend to happen in a bear market and until there is light at the end of the tunnel, it is hard to gather too much optimism.

This is in relation to the earthquake just off the Kuril Islands a tsunami watch was issued ForexLive

A few ICYMI items out of China as the country's economy begins recovery from the impact of coronavirus  China has resumed construction of 90% major infrastructure projects

Kitco with the report on the CME futures exchange launching a new gold futures contract  It will offer expanded delivery options including: – 100-troy ounce New contract is expected to launch with the first expiration of April 2020 (pending regulatory approval)