European and Chinese equity markets saw fresh record highs this week, while US equities approached record highs again. However Greek turmoil, the poor US March retail sales report and China's slate of weak March data eventually pulled markets lower. The China Securities Regulatory Commission helped vaporize a large chunck of April's gains by banning certain forms of margin trading. ECB QE and the Greece situation pulled the German 10-year yield down to all-time lows around 0.049% on Friday, while peripheral yields backed up, led by Greece. Oil prices broke out to the highs of the year on speculative bets we may have seen the peak US production figures, while the Dollar gave back some notable ground as traders unwound a portion of the recent relative strength trades tied to a more favorable US economic outlook. For the week, the DJIA lost 1.3%, the S&P500 dropped 1% and the Nasdaq was down 1.3%.
Macro :
- Putin To Give Athens €5 Billion For Advance Gas Pipeline Fees - Spiegel {http://bit.ly/1cLXXdu}
- PBOC’s Zhou Says Slower Growth More Sustainable, Xinhua Says
- Dijsselbloem Says Germany Has Need to Invest in Infrastructure
- BOJ Gov Kuroda: Markets may be surprised by higher interest rates if Japan's 2% inflation target is achieved in 2016
Keep an eye on :
- DBK GY : FCA Says Deutsche Bank ‘Uncooperative’ in Libor Review: Spiegel
- DBK GY : Deutsche Bank to spin off Postbank - FT
- FUM1V FH : Boskalis to Appeal Fugro Protection Measure Ruling: ANP
- IHG LN : Intercontinental Hotels rumoured to be eyed by US predator
- ILD FP : Iliad’s Niel Won’t Cut Prices for Orange Switzerland: NZZ
- UG FP : Peugeot to Build Global Small-Car Platform With China’s Dongfeng
- SIK VX : Sika Board Offers to Buy Burkard Family Shares for CHF2.25b: SZ {http://reut.rs/1aIcbut<Go>}
- TSCO LN : Tesco Said Set to Report Annual Loss of Up to GBP5b: FT
- DG FP : Vinci Interested in Nice, Lyon Airports, CEO Tells Investir
- VOW3 GY : VW Says Winterkorn Won’t Travel to Shanghai Show Due to Illness, Porsche Family Doesn’t Seek to Oust Piech From VW Board: Welt