Asian equity markets remaining bid despite the geopolitical concerns and uncertainty regarding US policy. Sentiment continued to reverberate from the reflation "Trump-trade" persisting in the US session on Friday and pushing indices to record highs. Lift in commodity prices such as new 2-year high in Dalian iron ore has buoyed miners in Australia, while a 2-week high in USD/JPY above ¥114 is supporting Japan's export-rich market. Pro-growth business and tax agenda of US Pres Trump is once again overshadowing other factors. Trump met with Japan PM Abe over the weekend, pledging commitment in joint defense and investment in Japan business partnership, hinting he will announce big news on taxes and other industry-supportive changes in the near term. Japan Q4 preliminary GDP was a decimal shy of consensus but roughly on par with the growth rates reported in Q3. Attention this week turns to Fed Chair Yellen semiannual testimony in Congress, and investors will look for more clues on how probable are the expectations of a March rate hike. Recall the last FOMC decision has dented those probabilities, producing a bounce in US treasuries. Part of the uncertainty lies with the fiscal side of the US economy, and whether President Trump's bold agenda will nudge the purse strings of Republican controlled Congress. Over the weekend, Fed vice chair Fischer echoed as much, stating that there is significant uncertainty about what Congress and the Administration will do with fiscal policy.
Nikkei +0.41% Hang Seng +0.47% CSI +0.63% Shanghai +0.59%
Eur$ 1.0632 CNH 6.8791 CNY 6.8842 JPY 113.67 GBP 1.2517 CHF 1.0034 RUB 58.0202 WTI$ 53.70 -0.28%
S&P +0.05% EuroStoxx +0.15% FTSE +0.16% Dax +0.12% SMI +0.11%
Macro :
- Gulf Stocks Rise With Oil; Kuwait Bucks Agility Slide
- Swiss Reject Tax Reform, Threatening Country’s Competitive Edge
- ECB Rate Pledge Could Be German Solace as Bond Buying Continues
- Swiss Corporate-Tax Vote Threatens Nation’s Competitive Edge
- Fed’s Tarullo Stepping Down as Top Regulator of Wall Street
- Russia’s Novak Sees Chance to Extend Oil Cuts With OPEC: RIA
- Juncker Tells Deutschlandfunk He Won’t Run for Second Term
Keep an eye on :
- III LN : Agent Provocateur potential bidders include Lion Capital, Etam, Endless
- ABE SM : M6 Toll Road owners considering refinancing after bids fall short of GBP 1.9bn asking price; Abertis bid rejected - FT - http://on.ft.com/2khaNEh
- AF FP : Janaillac Wants KLM Supervisory Board Membership: Telegraaf
- AGMBEUR XD : Aeroporto Bologna Sees Rev., Profit Up in 2016 Y/y: Sole
- AAPL US : Apple CEO: AR Is ‘Big Idea Like Smartphone’, Independent Says
- MT NA : ArcelorMittal calls for carbon levy on imports to EU companies, Lakshmi Mittal concerned new rules will discriminate against European producers FT - http://on.ft.com/2lDJrJn
- NDA GY : Aurubis 1Q EBT Falls 50% on Hamburg Shutdown, Copper Price
- BCP PL : Banco Comercial Won’t Need a New Capital Increase, Expresso Says
- BARC LN : Barclays Said to Consider Freezing CEO Staley’s Pay: Sky News
- BAMI IM : Castagna Rules Out Cap. Increase for Banco BPM: Ansa
- BMPS IM : MPS Aims to Get EU Approval for Plan by Early March: Messaggero
- BARN SW : Ivorian Cocoa Shippers Said Unable to Honor 80% of Contracts
- BAS GY : BASF: Some Operations Interrupted Due to Tech Defect on Feb. 11
- BMPS IM : Monte Paschi May Opt for Block Sale of NPLs, Sole 24 Ore Says
- CRG IM : Carige NPLs Sale May Not Take Place Before April: Ansa, Carige Aims to Sell EU2b of NPLs by Yr End, Sole Reports
- CAT US : Caterpillar Jumps as Evercore Sees 2018 EPS Growth Above 65%
- CX US : Cemex Unit to Sell Ohio Assets to Eagle Materials for $400m
- CSGN VX : Finma Said to Mull Tough Rules for Credit Suisse Unit, FUW Says
- DB1 GY : Deutsche Boerse Says It Has Made Clear It Is Cooperating Fully
- DWNI GY : Deutsche Wohnen Looks Very Good for Meeting Guidance: CFO in BZ
- TAM FP : Agent Provocateur potential bidders include Lion Capital, Etam, Endless - Sky News
- FINGB SS : Fingerprint Cards Ex-CEO Lantto Sold 836,500 Shares in Jan.: DI
- F US : Ford is putting $1 billion into an AI startup, Detroit's biggest investment yet in self-driving car tech _ Recode
- G IM : Generali targets deeper cuts in attempt to stay independent - FT - http://on.ft.com/2kWlX3a {NSN OL9LQI6TTDSI <GO>}
- HEIA NA : Kirin to Sell Brasil Kirin to Heineken in $680 Million Deal
- ICAD FP : Icade 2016 Net Income EU58m Vs. Loss of EU207.6m
- GFK GY : KKR Secures 18.5% Acceptance for GfK Bid, Extends Tender Period
- KORS US : Michael Kors Falls; Says Technical Issue to Delay Form 10-Q
- LEON SW : Leonteq CEO Says Company May Make A Loss in 2017: FuW
- LISP SW : Ivorian Cocoa Shippers Said Unable to Honor 80% of Contracts
- OR FP : Investors Weigh Bids for L’Oreal’s Body Shop, Sunday Times Says
- MSY LN : Consider stock mkt listing, bought by Vista in 03/2012 for GBP1.32bil
- NESN VX : Ivorian Cocoa Shippers Said Unable to Honor 80% of Contracts
- NETS DC : Nets Considers Acquisitions in Sweden, Dagens Industri Reports
- OML LN : Old Mutual Said to Get Approaches for U.S. Asset Mgmt Stake: FT
- ORA FP : The framework of the discussions is clear between Orange and Canal + - Les Echos - http://bit.ly/2kkxgjv
- PRS SM : Prosegur Cash Said to Seek EU4b Value in IPO: Expansion
- DPB GY : Wanda Said to Weigh Buying Postbank, Other European Banks: FT
- RBS LN : RBS May Cut Up to 15,000 Jobs, Close Branches, S. Times Says
- REA BB : Recticel and RealDolmen rumoured to be up for sale and/or delisting - http://bit.ly/2kDnpcd
- REC BB : Recticel and RealDolmen rumoured to be up for sale and/or delisting - http://bit.ly/2kDnpcd
- RB/ LN : Mead Johnson/Reckitt Has High Likelihood of Completion, UFP Says
- RB/ LN : Reckitt Investors Urge Tougher Bonus Scheme, S. Times Reports
- RNO FP : CEO says closer ties with Nissan possible if French government sells stake FT - http://on.ft.com/2lAbr0C
- QSR CN : Restaurant Brands Top Holder Pershing Square Reports 18.1% Stake
- RR/ LN : Rolls-Royce Plans to Release Crewless Ships by 2020, Sky Says
- SLE LN : San Leon Energy receives bid approach from second Chinese company - Irish Times
- SAN FP : Sanofi hires Messier Maris to conduct CEPiA sale - MergerMarket
- SAN FP : Sanofi Said to Near Agreement to Sell Some OTC Drugs to Ipsen
- SKY LN : U.S. Hedge Funds Buy Stakes in Sky on Winning Fox Bet: Telegraph
- SAZ GY : Stada Arzneimittel Said to Receive EU3.6b Cinven Bid: FT - http://on.ft.com/2lF6nZB
- STL NO : Statoil CEO: Never Had Portfolio w/ Higher Quality Than Now: DN
- TEMN SW : Temenos Expects to Expand N. America Business: Mossman in FuW
- TWX US : Warner Bros. Says Prince Catalog on Streaming Services Today
- VIV FP : SoundCloud COO Strigel, Fin Director Harder Leave Co.: FT
- VOW3 GY : German Lawmaker Criticizes Piech Refusal to Testify: Funke
- VOW3 GY : Lower Saxony PM Doesn’t Rule Out More Setbacks in VW Case: RND
- WMH LN : Biggest William Hill Investor Urges Sale, Sunday Times Reports