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-Fitch Ratings: Coronavirus to Hit Global Banks' Capital Markets Revenue

Mar 04, 2020 - ENP Newswire

Uncertainty over the intensity, geographic reach and duration of the coronavirus (COVID-19) outbreak is negatively impacting primary market activity and significantly increasing volatility, making it likely that capital markets revenue at the global trading and universal banks (GTUBs) will be adversely affected, Fitch Ratings says.

We do not expect this hit on earnings to affect GTUB ratings if the outbreak is quickly contained, but prolonged revenue weakness and deterioration in as...