- Macro: US markets were mixed yesterday with the S&P 500 up slightly, but the Nasdaq was in the red. Europe was slightly better with the Stoxx 600 broad index rising modestly. Later today, the main focus of the market will be on US CPI at 13:30. We will also have MBA Mortgage Applications at 12:00 and average hourly and weekly earnings are released at 13:30. Then later the Federal Budget balance for January is expected at 19:00. Central bankers speaking include Powell and Bostic of the Fed, as well as the BoE’s Greene, and Nagel from the ECB.
- Stock: Apple are reportedly working with Alibaba to roll out AI features in China. (Comment attached)
- Debt: Core Bond yields were driven by a deluge of long end supply in Europe yesterday and comments from Powell stating the Fed is in no hurry to lower rates further.
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