- No ceasefire deal was reached over the weekend, which means Muslims in Gaza are entering the Ramadan fasting with little supply.
- Portuguese elections were a surprise with a swing to the right, though a coalition remains unclear. With more European countries facing an election year, a swing to the right could mean more protectionism on the trade front.
- Japanese equity markets took it on the chin on Monday after a revision of Gross Domestic Product (GDP) numbers showed that Japan made it just barely out of recession, casting doubts over an upcoming interest-rate hike..
- The US Treasury Department is having its hands full this Monday with no less than three auctions: Near 15:30 GMT both a 3-month and a 6-month bill will be auctioned. At 17:00 GMT, a longer 3-year note will be placed in the markets.
- Equities are painting a very mixed picture this Monday at the start of the week. All Japanese indices are closing by over 2% in the red, while Chinese equity indices are up over 1%. Europe is not taking over the tone from China, and is trading by a near 0.50% in the red for both the German Dax and the overall Stoxx 50. The US equity futures are near flat or very mild in the red ahead of the US session.
- According to the CME Group’s FedWatch Tool, expectations for a Fed pause in the March 20 meeting are at 96%, while chances of a rate cut stand at 4%.
- The benchmark 10-year US Treasury Note trades around 4.05%, the lowest level in over a week.
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