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Below is a chart and brief excerpt from today's Early Look written by Macro analyst Christian Drake

CHART OF THE DAY: Not a Typo. Japan GDP (Pre-Virus!) - 01.27.2020 coronavirus cartoon

Japanese pre virus GDP (i.e. Q4) tanked to -6.3% q/q (not a typo) and both the Nikkei (-1.4%) and KOSPI (-1.5%) broke @Hedgeye TREND support again overnight; JGB 10yr Yield down -3bps and German Bund Yield on 10s breaking bad alongside EUR/USD as the German ZEW (post virus) reports slowed, big time, to 8.7 from 26.7 in FEB. 

But you already knew that as the discounting of derivative virus impacts only pulls forward and amplifies the underlying growth/inflation trajectory that was already in place.   

CHART OF THE DAY: Not a Typo. Japan GDP (Pre-Virus!) - CoD Japan GDP