In chaos theory, the butterfly effect shows that even a small alteration of status quo can lead to much more significant results. Unfortunately, we are bearing witness to just such event.

The world has found a new foe and it's a virus, not too dissimilar to viruses we have seen beforeand will likely  see again.

As you are likely aware, the global equity markets have sold off over the last few weeks due to concerns regarding the Coronavirus, in particular it's deadlines and the potential disruptions to the global movement of gooda, services, products and people.

2019 saw record high inflows to bonds. With lowering supply and demand for bonds, this trend will likely reverse in 2020