European shares couldn’t build on positive sentiment in Asia and corrected lower with especially the Dax underperforming (‐1.21%). US indices currently trade with small gains.
The FT reports that German Chancellor Angela Merkel has come under intense pressure from her own coalition to stick to her tough line over Greece ahead of a high‐profile visit to Berlin tonight by the radical Greek prime minister Alexis Tsipras.
US existing home sales fell short of a 5 million annual rate in February for a second month, showing an industry struggling to gain traction amid rising prices and a lack of inventory. On a monthly basis, they rose by 1.2% (1.7% expected). EC consumer confidence was better than expected, rising from ‐6.7 to ‐3.7 is March (‐6.0 expected)
The ECB announced that they settled €26.3B of public sector purchases as of March 20. This means that they bought €16.55B bonds in the week between March 13 and March 20. Draghi said earlier today that there are no signs that there will not be enough bonds for the ECB to purchase. He added that a rise in inflation is conditional on full QE implementation.
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
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