Recap :

Commentary:

None

Notable:

  • Germany IFO improved to 111.2 vs 110.4 exp and 110.7 prev
  • US Durable Goods Orders jumped 2.6% vs 2.0% exp and 2.2% prev. The Core measure was also strong at 2.2% vs 1.5% exp and -1.3% prev
  • Jobless Claims rose to 329k vs 315k exp and 304k prev. Seasonality effects around Easter likely had an impact.
  • Denmark hiked CD rates by 15bps to 5bps
  • BOJ officials are said to be concerned about JGB yields and whether they may suddenly spike. Officials are worried that JGB yields aren’t reflecting emerging inflation, raising the risk of a sudden surge in yields. Bloomberg
  • GS: The first-quarter of 2014 saw the strongest flows into Italian mutual funds since 1998, according to data from Assogestioni… 60% of flows were into flexible/balanced funds that blend bonds with equity and other assets, while one-third of flows were into pure fixed income funds. Domestic investors remain cautious on allocating towards equities however, with modest net flows of €2.8 bn

Upcoming Data:

  • Thu: Japan CPI
  • Fri: UK Retail Sales, US Markit PMI
  • Mon: US Pending Home Sales
  • Tue: Germany Gfk Consumer Confidence, UK GfK Consumer Confidence, Japan PMI, NZ Business Confidence
  • Wed: Month End, Turkey Trade Balance, EU CPI, South AfricaBalance, US ADP Employment, CanadaGDP, US GDP, Chicago PMI, Australia PMI
  • Thu: UK PMI, Yellen Speaks, Jobless Claims, PCE, ISM Mfg, Japan Employment
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