Mr. Cooper Group reported fourth-quarter net income of $461 million, aided by the recovery of its deferred tax asset and a positive mark-to-market on its servicing portfolio.
A recent sale-tax hike in the country and the impact of the coronavirus have driven the yen to it's biggest two-day drop since 2017.
Other global health threats, such as SARS, did not have long-term impact on stocks. COVID-19 might be another matter.
Fear and worry are rampant. One client asked if any other client had recently returned from China.
A flight to safety that saw funds in short-term bonds and utilities add cash as coronavirus dominated headlines has given way to a vigorous rally.
While the deadly virus threatens to harm the world economy, the funds have remained popular as the Fed signals low rates for the foreseeable future.