- Macro: Equities had a positive session yesterday, as the Eurostoxx600 moved higher, led by gains in Novo Nordisk following its strong Q4 earnings release, whilst markets in the US also finished in positive territory, with the S&P500 and the Nasdaq both climbing higher. Later today, the main item of note is the BOE’s February rate decision at 12:00, when it is expected to cut by 25bps. We will also have construction PMIs out of Germany and the UK, the Irish unemployment rate, and weekly jobless claims data out of the US. From central bankers, the Fed’s Jefferson, Logan, and Waller will speak, Nagel and Escriva from the ECB, as well as Bailey from the BOE.
- Stock: We have an update on a report from Bloomberg that Apple may face a formal anti-trust investigation into its App store in China. (Comment attached)
- Debt: Core Bond yields moved lower yesterday ahead of the BOE’s rate decision later today along with comments from Bessent stating ‘Trump isn’t calling for the Fed to lower rates’
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