EMU Markit PMI Composite eased from 48.6 to 47.3, against a rising consensus of 49.9. Markit manufacturing also disappointed by dropping from 47.9 to 47.8 (consensus of 48.5) and services PMI fell from 48.6 to 47.3 (consensus of 49.0). As expected, France figures underperformed Germany's and Germany got its manufacturing PMI above the 50.0 line, turning expansionary again. Just not as high as expected (50.1 vs 50.5 consensus).
10-year Letras improved their average yield from 5.290% to 5.202%. 2-year debt also lowered its costs, from 2.823% to 2.540%. Portugal will be publishing its current account balance at 12:00 GMT.
The British FTSE 100 is also down, by -1.53%. The London session saw the UK government selling 10-year gilts at rising average yields, from 1.9% to 2.15%. UK CBI industrial trends survey (orders) improved from -20 to -14 in February, beating consensus of -15.
Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a lower opening between -0.25% and -0.40% ahead of the NY session, with US CPI, jobless claims, Markit manufacturing PMI, housing data, and Philadelphia Fed manufacturing survey due to be released.
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