By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• Global stocks drop as investors shun risk on coronavirus fears
• US stock futures down 3% in Asia after NY bounce
• Stimulus hopes outweighed by concerns about epidemic
• US yield curve steepens on $1 trln stimulus talk
• Dollar in demand due to liquidity fears

Oil Markets

• Oil steadies after testing new low as coronavirus chaos intensifies
• Brent up 1.2% at $29.07 a barrel (0238GMT)
• WTI up 0.5% at $27.08

Precious metals

• Gold inches up as US stimulus to combat virus stems rush for cash
• Spot gold up 0.1% at $1,529.69/oz. (0305GMT)
• US gold futures up 0.3% at $1,530.80/oz.

Grains

• Soybeans jump 1% but virus fears cap gains
• Soybeans up 1% at $8.33 a bushel (0121GMT)
• Corn unchanged at $3.44 a bushel
• Wheat little changed at $4.99-1/2 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

• South Africa COVID-19 travel ban kicks off; 35 ports of entry closed
• South Africa inflation Feb-20 [fcst. 3.9% yy, prev. 4.5%]
• South Africa retail sales Jan-20 [fcst. 1.4% yy, prev. -0.4%]
• South Africa central bank MPC meeting; 17-19 Mar [fcst. 6.0%, prev. 6.25%]
• Ghana central bank MPC meeting; 18-20 & 23 Mar [fcst. 15.0%, prev. 16.0%]

Key African events or data releases yesterday & early a.m today

• Tunisia imposes curfew to counter coronavirus outbreak – President
• Morocco to use military field hospitals to help fight coronavirus
• Algeria bans street marches due to virus; some protesters unswayed
• Armed with lessons from ebola, Africa braces for coronavirus crisis
• South Africa quarantines cruise liner over suspected coronavirus case
• Sudan orders arrest of former foreign minister over 1989 coup
• Egypt cuts dividend tax and energy prices to soften coronavirus impact
• Egypt reports two coronavirus deaths, total cases reach 196 – health ministry
• Tunisia police break up ram fight that broke coronavirus crowd rules
• Africa Oil – Angola exports to rise in May
• World ‘woefully’ underestimating FGM, study finds
• Morocco’s central bank cuts benchmark interest rate to 2%
• Morocco sentences activist for criticising judge
• Egypt central bank emergency rate cut adds pressure to outflows
• South Africa’s rand, stocks claw back some lost ground
• Tunisia cuts benchmark rate by 100 bps to 6.75% – source
• “Preparing for war”: Africans scramble for groceries
• Libya truce would aid war on coronavirus, say western, Arab nations
• South Africa’s Sun International closes casinos and hotels in Latin America over COVID-19
• Lesotho leader’s wife’s murder trial postponed to April 14
• Egypt to keep airspace open to allow tourist departures
• South Africa’s Sibanye to provide processing facility to Amplats during force majeure
• Oman Air suspending flights to Egypt, Bahrain
• Uganda central bank sells dollars after shilling weakens
• Egypt suspends trading in 40 shares after they fall more than 5%
• Nigeria annual inflation edges up to 12.2% in February
• Kenya shilling edges down against the dollar

N.B. Full stories of above headlines are available on Reuters