- Macro: US markets were marginally positive yesterday with the S&P 500 and the Nasdaq up slightly. Europe was stronger with the Stoxx 600 broad index rising +1.17%. Later this morning, we have French trade and wage data, then later at 13:30 we have US Nonfarm Payrolls for Jan and Average Earnings, along with Unemployment and other labour force data. At 15:00, the University of Michigan releases its Sentiment survey for February, and we get Wholesale Inventories which are expected to fall 0.5% in December. Finally, Consumer Credit data is released at 20:00. Central bankers speaking include Bowman and Kugler from the Fed, as well as the BoE’s Pill following their cut yesterday.
- Stock: We have updates on the Q4 earnings releases from both Amazon and L’Oreal. (Comment attached)
- Debt: Core Bond yields were little changed yesterday ahead of US Non-farm payrolls later today.