Weekly Performance
Dow +2.26% S&P+1.35% Nasdasq +0.99% Russell +1.30% Brazil+2.37% Nikkei -1.26% Hang Seng +2.34% Shanghai +5.15% EuroStoxx +0.55% Dax +1.22% CAC -0.67% Ibex-0.43% MIB -1.98% FTSE +0.81% SMI -1.51%
YTD Performance
Dow +1.02% S&P+0.28% Nasdasq -4.23%% Russell -3.01% Brazil+17.22% Nikkei -12.13% Hang Seng -5.67%% Shanghai-16.50% EuroStoxx -6.36%% Dax -7.37% CAC -3.76% Ibex-5.17% MIB -13.11% FTSE -0.84% SMI -11.39%
This mid-March week was dominated by a string of monetary policy decisions, with the key focus falling squarely on the Federal Reserve. Risk on sentiment was rewarded when the Fed apparently blinked, delivering an even more dovish statement that expected. The Fed decision got some cover from poor retail sales revisions that erased what had been strong sales data in January. US Treasury rates were touching monthly highs heading into FOMC statement after February core inflation ran hotter than expected. The 2-year yield touched 1% for the first time since early Jan before a dovish FOMC statement and press conference sent short rates forcefully lower. The curve steepened pushing the 10-2 Treasury yield spread wider by roughly 5 basis points. For the week, the DJIA gained 1.8%, the S&P500 advanced 1.3%, and the Nasdaq added 1%.
Macro :
Bundesbank Wants Half of Gold Reserves Back by 2020, Funke Says
Ex-BP CEO Hayward Seeks Backers for Energy Fund: Sunday Times
Signs Are Flashing That Dollar Plunge Has Gone Too Far, Too Fast
FT : 86% of active equity funds underperform - http://on.ft.com/1pUp8cP
Keep an eye on :
- AIR FP : Airbus Group to Sell Defence Electronics to KKR for Eur 1.1b
- ALT GY : Altana does not perceive itself as takeover candidate; eyes acquisitions - Frankfurter Allgemeine Zeitung
- ARYN VX : Aryzta’s Killian Won’t Sell More Shares: Sunday Independent
- CS FP : Axa CEO Seen as Favorite to Become HSBC Chairman: Sunday Times
- BAYN GY : Monsanto Approaches Bayer Over $30b Purchase of Crop Unit: Rtrs http://reut.rs/1LwUC2G
- POP IM : Banco Popolare Is Now Willing to Meet ECB Requirement for Merger
- POP IM : Banco Popolare Doesn’t Rule Out Capital Hike for Merger
- DWNI GY : Deutsche Wohnen sees no attractive M&A options among listed rivals - Boersen-Zeitung
- EDF FP : EDF’s French nuclear plant faces years of further delay - FT
- ENI IM : Eni looks to close Versalis sale to SK Capital by end of year, according to ENI CEO, Pevious reports talk of 1.2bil recap for Versalis - Il Sole 24 Ore
- EVK GY : Evonik studies acquisitions of AkzoNobel's special chemicals division and Air Products' tech division - de Telegraaf
- HSBA LN : Axa CEO Seen as Favorite to Become HSBC Chairman: Sunday Times
- INW IM : Inwit bidders Cellnex Telecom and F2i could pay up to EUR 3bn for 100% - El Economista
- LSE LN : LSE Shareholders Said to Seek More Money in Exchange Takeover
- MC FP : TAG Heuer Wants to Sell 80,000 SmartWatches in 2016: NZZ
- NESN VX : Drought Impact on Colombian Coffee May Last Two Yrs, Group Says
- PC IM : Two Sovereign Funds in Talks W/ Camfin for Pirelli Stake: Sole
- RR/ LN : Rolls-Royce in Talks on U.K. Nuclear-Power Reactors: Telegraph
- RR/ LN : Rolls-Royce to Add 350 Jobs at Derby Engine Plant: FT
- SAF FP : Smiths in Talks to Buy Safran’s Morpho Detection Unit: S. Times
- SBRY LN : Sainsbury Has ‘Clear Vision’ for Combined Co., CEO Says: Call
- SCHA GY : Schaeffler CEO Seeks 12%-13% Operating Margin: Euro am Sonntag
- SN/ LN : Smiths in Talks to Buy Safran’s Morpho Detection Unit: S. Times
- HOT US : Paulson Says ‘Happy’ to See Increased Starwood Offer: Reuters
- HOT US : Starwood Signs Cuba Hotel Deal Ahead of Obama’s Visit: Reuters
- SUN SW : Ex-Lanxess CEO Heitmann Nominated for Sulzer Adminstrative Board
- UHR VX : Omega Is Not Shutting Door on Smartwatch Concept, CEO Tells SZ
- TIT IM : Telecom Italia CEO Patuano Expected to Leave Co., Corriere Says
- VALE US : Former Vale CEO Agnelli Dies in Sao Paulo Plane Crash: O Globo
- VOW3 GY : VW’s Weil Says He Has No Reason to Consider New Leadership: FAZ
- WTB LN : +3% on Friday on rumors of chinese interest - The Times
- WTB LN : Whitbread Faces Investor Call to Consider Breakup: S. Telegraph