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A Critical Week For Markets Begins: Preview Of The Main Events

A pivotal, catalyst-filled week for global markets is now underway as investors brace for the second US interest rate hike in 2 quarter, a Dutch election, the expiration of the US debt ceiling deal, the imminent invoking of Article 50 by Theresa May, the first G20 finance ministers' meeting of the Trump era and perhaps the disclosure of Trump's proposed budget.

Global Stocks Rise, S&P Futs Flat As Dollar Rebounds Ahead Of Critical Week For Markets

European bourses advance and Asian share rose led by a surge in Hong Kong stocks which rose the most in three months as Japan hit 15 month highs. U.S. futures are little changed along while the dollar rebounded from session lows after Friday's selloff. Crude oil has continued its retreat, down 0.2% and sliding for a 6th straight day after breifly dropping below $48 in overnight trading.

Speculative Blow-Offs In Stock Markets - Part 2

"...the lagged effects of previous money supply growth excesses are still playing out, just as money supply and credit expansion seems to be coming under pressure. This is combined with a fantasy that is so unlikely, people apparently just cannot bring themselves to doubt its veracity – after all, why would anyone tell such a preposterous story if it were not true?"

Key Events In The Coming Week: All Eyes On Payrolls

The key economic release this week is the employment report on Friday, which as Janet Yellen noted in her speech on Friday, is the only economic event (together perhaps with the CPI report on April 15), that could potentially derail a now practically guaranteed rate hike.

S&P Futures, Global Stocks, Euro Dragged Lower By Deutsche, Geopolitics, French Election Worries

European shares and S&P futures are modestly lower this morning, dragged down by fresh geopolitical concerns out of North Korea which last night fired 4 ballistic missiles, by renewed political jitters ouf of France where Alain Juppe announced he would not run in the presidential election, from Deutsche Bank whose aggressive equity offering has weighed on local stocks, and from China's announcement over the weekend in which it modestly cut its economic outlook.

Beware The Bakken

It’s the beginning of the end for the Bakken Shale play...

Frontrunning: March 1

  • Stocks Jump as Investors Eye March Rate Increase, Trump Speech (WSJ)
  • A softer side of Trump (Reuters)
  • Trump’s Softer Tone Masks Hard Road Ahead for Agenda in Congress (BBG)
  • President Asks Lawmakers to Unite Behind His Agenda (WSJ)
  • Left Out of Trump's Big Speech, Russia Wonders What It Means (BBG)
  • EU to Reject Trump's Protectionism at Summit, Draft Shows (BBG)

European Rally Fizzles, S&P Futures Turn Red As USDJPY Slides, Bunds Strongly Bid

What started off in familiar fashion, with Asian stocks rising, and Europe hitting multi-month highs and US futures in record territory has stumbled in recent minutes following a continued rush for safety in short-dated German Bunds (the 2Y is now trading at -0.92%) and ongoing selling in the USDJPY, which has pushed Stoxx 600 back to unchanged, and S&P futures to modestly red for the session.

US Futures, European Stocks Rise Despite HSBC Plunge; Dollar, Oil Jump

European stocks rose again with S&P futures higher, while Asian stocks were mixed. The dollar rose jumped on hawkish comments by Philly Fed's Harker, oil rose following optimistic OPEC comments, while gold dropped. Markets have largely ignored results by financial heavyweight HSBC, which posted its largest fall since mid-2015 after reporting a 62% plunge in pretax profit.

The Week's Key Economic And Financial Events

In this holiday-shortened week, attention will be on the US FOMC minutes, housing data and consumer confidence. There will be GDP, PMI and inflation releases across the Euro Area as well as the latest Greek Eurogroup meeting. Look for GDP and public finances data in the UK.

Asian Stocks Hit 18 Month High; Europe, US Futures Bounce As Dollar Rises

Asian stocks hit their highest level in 18 months, with positive momentum lifting European shares which were helped by Societe Generale earnings. Yields fell on some of the euro zone's battered low-rated bonds as investors put aside the political risks that have dominated markets this week. After trading flat, S&P futures bounced as US traders walked boosted by a spike in the USDJPY.

Political Worries Keep Europe On Edge As Earnings Push Stocks Higher; US Futures Unchanged

In a mostly quiet Wednesday session, Asian stocks rose overnight along with European bourses, which were led higher by miners after Rio Tinto posted higher profits for the first time in three years and a bigger-than-expected dividend, while India’s Sensex extended declines after the central bank unexpectedly left rates unchanged. US futures were little changed as oil continued to fall after API reported a huge inventory build