Economic data coming up in the European session
After a surge higher in yields early on yesterday abated, equities pushed forward with more solid gains as the market took the Fed's reassurance and ran with gains.
ECB's Schnabel: We will ensure that there is no unwarranted tightening of financing conditions
Germany reports 11,869 new coronavirus cases, 385 deaths in latest update today
That sees total active cases increase slightly to ~119,000 as the overall virus situation looks to meet a bit of a peak in terms of improvement as of late. The 7-day incidence rate has also crept higher to 61.7 - topping the 61.0 reading over
Japan December final leading indicator index 95.3 vs 94.9 prelim
- Coincident index 88.3 vs 87.8 prelim
Slight delay in the release by the source. The preliminary report can be found .
JPM on Bitcoin - current prices well above our most recent estimates of fair value
JPM wandered a bit off track in the last bullet .... is there a person on the planet thinking cryptos are a funding currency? Otherwise, some decent points from JPM.
UBS 'phase change' coming for global markets in Q2, and the next Global Equity Rotation
Regime change will be marked by a bottoming in real rates and credit spreads -- which will signal the end of the liquidity "tailwind" that has been the biggest contributor to market gains.
VIX is in a bubble says JPM
- Cboe Volatility Index is elevated despite muted moves on the benchmark S&P 500
"USD weakness on pause" - watch rising yields and risk sentiment
(ps. the note is from Tuesday US time but since its not a day trade view posting now as a bit of a catch up)
ForexLive Asia FX news wrap: Yen slips a little further
Forex news for Asia trading
NZD gained in late US afternoon trade with NZD/USD moving briefly
above 0.7450. The catalyst was the NZ government requiring the
Reserve Bank of New Zealand to include housing prices in its mandate
which prompted markets to raise once again the propect of less
accommodation from the central bank. As the session progressed
Heads up for two huge political events in China next week - March 4 and 5
The main focus for the NPC is the government "work report", this policy priorities for 2021.