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

Global Markets

• Asia shares suffer virus chills, central banks offer what they can
• S&P 500 & European futures call, Nikkei off over 3%
• China, Singapore ease monetary policy
• US extends social distancing guidelines to end of April
• Treasury bonds rally further, yield curves flatten
• Dollar down for the moment, oil under pressure

Oil Markets

• Crude oil futures drop as pandemic pandemic darkens demand outlook
• Brent down 6.7% at $23.25 a barrel (0249GMT)
• WTI down 5.4% at $20.34

Precious metals

• Gold gains as dollar weakens, fears of economic damage mount
• Spot gold up 0.3% at $1,621.85/oz. (0029GMT)
• US gold futures up 1% at $1,641.80/oz.

Grains

• Wheat gains on world food supply concerns, soybeans up 1%
• Wheat up 0.3% at $5.72-3/4 a bushel (0207GMT)
• Corn down 0.5% at $3.44-1/4 a bushel
• Soybeans up 1.1% at $8.90-3/4 a bushel

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

• Nigeria locks down Lagos, Abuja & Ogun states for 14 days to curb covid-19 spread
• South Africa M3 Feb-20 [fcst. 7.0% yy, prev. 7.0%]
• South Africa PSCE Feb-20 [fcst. 5.0% yy, prev. 5.0%]
• Nigeria FX reserves Mar-20 [prev. $36.38B]
• South Africa balance of trade Feb-20 [prev. ZAR-1.87B]
• Zimbabwe locks down for 21 days

Key African events or data releases over the weekend & early a.m today

• South Africa records second coronavirus death as infections jump to 1,280
• Nigeria orders 14-day cessation of movement in Lagos, Abuja to fight
• Egypt’s banks told to limit withdrawals & deposits
• Zimbabwe brings back foreign currencies ahead of coronavirus lockdown
• South Africa sees IMF loan to fight coronavirus as last resort
• South Africa could seek IMF loan to fight coronavirus
• More coronavirus cases in Libya as fighting rages
• Nigeria tightens offshore oil rules after vessel workers get coronavirus
• Algeria says food stocks for months
• South Africa announces tax relief for business hit by coronavirus
• Angola to cut budget as fifth year of recession looms large
• Mali holds election despite coronavirus and insurgency
• Belly dancer keeps Tunisians entertained through coronavirus lockdown
• South Africa may approach the IMF for “health funding” – Mboweni
• Egypt’s central bank instructs banks to put temporary limits on daily withdrawals and deposits
• New coronavirus cases confirmed in Libya as war escalates
• 47-nation Africa has 2,650 confirmed coronavirus cases, 49 deaths – WHO
• South Africa’s coronavirus infections rise at a slower rate
• Tunisia gets 250 mln euros from EU to tackle coronavirus impact
• Nambia suspends mining operations as coronavirus lockdown takes effet
• South Africa billionaire Motsepe donates $57 mln to fight coronavirus
• South Africa fuel prices to drop sharply in April
• Algeria arrests leading journalist Drareni
• Moody’s downgrades South Africa rating to ‘junk’, keeps negative outlook
• Nigeria needs $330 mln for coronavirus battle, turns to private sector
• Morocco to spend $200 mln to brace health system for coronavirus
• South Africa struggles with lockdown as records first coronavirus death
• Guinea referendum backs constitutional changes that may extend president’s rule
• Zimbabwe orders total lockdown from Monday to combat coronavirus
• Africa Oil – China provides a dim light as refiners shut
• EU offers 450 mln euros to help Morocco counter coronavirus – statement
• Zimbabwe billionaire offers health workers support in coronavirus fight
• South Africa’s ARM receives force majeure from Impala Platinum following lockdown
• South Africa’s AngloGold Ashanti cuts spending, suspends output guidance
• Morocco to halt import duties on soft wheat, durum and grains – statement
• South Africa tweaks rules for small-scale power producers
• National Bank of Ethiopia to inject $450 mln as liquidity for private banks
• Fight escalates in Libya despite coronavirus threat
• Senegal’s graffiti artists join fight against coronavirus
• Algeria extends curfew to nine more provinces over coronavirus outbreak
• Nigeria eases to new low on spot market on FX scramble
• Uganda shilling strengthens, buoyed by an interbannk sell-off
• Some Kenya nurses refuse coronavirus patients in protest over shortages – union
• Nigeria needs 120 bln naira for coronaviurs battle, turns to private sector
• Zambia to suspend import duty on mineral concentrates, export duty on precious metals
• Kenya shilling gains ground, helped by lacklustre dollar demand
• South Africa’s Mediclinic names former Lloyd’s of London CEO as next chair
• Anglo American expects South Africa lockdown to hit iron ore and coal
• South Africa’s Amplats continues repairs on processing facilities despite lockdown
• South Africa’s Vodacom chairman to retire in July

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