All eyes stay on the bond market in final trading day of the week

Despite a decent 30-year bond auction yesterday, yields are continuing to surge as broader market dislocations are persisting. 30-year yields in the US shot to a high of 4.95% earlier…

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US futures hold up for now but tariffs threat remains

S&P 500 futures +1.4% Nasdaq futures +1.1% Dow futures +1.7% While there is a suggestion that market players are holding out some optimism for Trump to start making deals, the…

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ECB’s Stournaras: Tariffs are a deflationary measure for the euro area

Tariffs are definitely a deflationary measure US policies are worse than expected, creating global policy uncertainty A notable adverse impact on growth could lead to activity being much weaker than…

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US MBA mortgage applications w.e. 28 March -1.6% vs -2.0% prior

Prior -2.0% Market index 243.6 vs 247.5 prior Purchase index 158.2 vs 155.8 prior Refinance index 710.4 vs 752.4 prior 30-year mortgage rate 6.70% vs 6.71% prior Mortgage applications fell…

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China urged to focus on bolstering domestic demand, especially consumption

Changes in global environment will be challenging for China The narrative is building on this front with many calling for Beijing to step up support, especially on services consumption. From…

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US futures trim gains ahead of jobs report

It would appear so. S&P 500 futures are now up just 0.1% after being up as much as 0.5% earlier in European trading. Meanwhile, Nasdaq futures are still up 0.2%…

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European stocks marked down at the open today

Eurostoxx -0.8% Germany DAX -1.3% France CAC 40 -0.8% UK FTSE -0.4% Spain IBEX -0.9% Italy FTSE MIB -0.6% Besides the DAX, other major indices in the region are struggling…

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Germany reportedly calls for EU to ease fiscal rules in order to bolster defense spending

It is pretty much the case here after the announcement yesterday: Germany will set up €500 billion infrastructure fund and a special defense fund Now it is being reported that…

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Spain February services PMI 56.2 vs 55.3 expected

Prior 54.9 Composite PMI 55.1 Prior 54.0 Spain’s services sector continues to hold up well and remains one of the bright spots in the euro area economy. New business continues…

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Eurozone January M3 money supply +3.6% vs +3.8% y/y expected

Prior +3.5% The pace of broad money growth in the euro area continues to hold relatively stable, though the narrower aggregate M1 (currency in circulation and overnight deposits) did show…

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