MACRO MACCHIATO: Wuhan Coronavirus
The Wuhan Coronavirus and China’s nationwide public health emergency have caused a flurry of speculation about how the shipping markets could be affected. P&I Clubs have issued circulars about what happens when ports are closed. Banks have estimated the hit to global commodity consumption. Seaports and airports around the world have set up fever checkpoints to screen incoming passengers. I’m reminded of the SARS panic of 2003. I was working at HSBC in London back when SARS ha