Quote:
‘God is love, but get it in writing.’ Gypsy Rose Lee (1914-1970)
The News:
EZ16 finance ministers agree to Greek help but do not spell out how much and other details.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
03:45 JP auction result of 20-year JGB: average yield 2.145%, tail .07, bid-to-cover 3.49.
07:00 EU27 February New Car Registrations +3.0% versus +12.9% January.
09:30 GB January DCLG House Prices (+3.0% to +4.2% Y/Y versus +2.9% December).
10:00 DE March ZEW Survey (Sentiment 39 to 48, Current-55 to –49, versus 45.1 and –54.8 February).
10:00 EZ16 March ZEW Survey (36 to 42 versus 40.2 February).
10:00 EZ16 February CPI ( +0.1% to +0.4% M/M, +0.7% to +1.0% Y/Y, versus –0.8% and +0.9% January).
10:00 IR auction result of 4.60% 2016 and 4.50% 2020 Irish Government Bonds.
12:30 US February Import Price Index (-1.0% to +0.3% M/M, +10.6% to +11.6% Y/Y, vs +1.4% to +11.5% January).
12:30 US February Housing Starts (510K to 610K, Building Permits 550K to 635K, versus 591K and 622K January).
12:30 CA January Manufacturing Sales (0% to +1.1% M/M versus +1.6% December).
12:30 CA Q4 Labour Productivity (+0.5% to +1.5% versus –0.2% Q3).
14:00 US Treasury’s Geithner testifies on the Budget, House Appropriations Committee.
18:15 US Fed’s FOMC interest rate decision (expected unchanged at 0.25%).
19:00 GB Bank of England’s Bean speaks, London.
23:50 JP January Tertiary Industry Index (Mizuho Securities +2.0% versus –0.9% December).
The Psychology:
The Bank of Japan starts a two-day rate-setting meeting (expected unchanged at 0.10%).
The Risk:
Treasury yields in the spotlight.
Today’s most interesting chart: EUR/CHF
Lower than SNB’s intervention, close to record low 1.4300.
