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Transcript
Foreign Exchange Fed’s Fischer (neutral, voter) said we may be seeing first signs of higher inflation; Brainard (dove, voter)
is wary of global risks. Chinese FX reserves came out just after 4pm Monday; the modest $29b drop suggests fears about
cascading outflows may be overdone, Mario Draghi is about to attempt his 11th round in the European Central Bank’s epic
fight against the threat of deflation.
Rates Benchmark yields rose Monday led by 2Y-5Y sectors amid energy rally that pushed WTI crude to its highest closing
level this year; yield increases were pared in late trading as U.S. stocks erased some gains.2Y-5Y yields were higher in late
trading by about 4bps, 2Y above closing levels since Jan. 13, 5Y since Jan. 26, 10Y since Feb. 1.• 5Y yield at 1.414% was
above its 50-DMA; it last closed above the trendline on Jan. 5. BOE to Offer Extra Liquidity to Banks Around EU Referendum
Commodities. Oil Holds Near 10-Week High as Possible Output Freeze Weighed. Brent for May settlement climbed $2.12,
or 5.5 percent, to $40.84 a barrel. The global benchmark crude ended the session at a premium of $1.02 to WTI for May as
major producers prepared to meet to discuss a production freeze and U.S. output finally showed signs of declining. Iron
Jumps Most on Record as Market Goes `Berserk' on China, copper futures swung between gains and losses, ending up just
0.4 percent higher.
Stocks Japanese shares fell for a second day as a stronger yen cut the earnings outlook for exporters and a report
confirmed the country’s economy shrank in the fourth quarter. China’s stocks fell for the first time in six days, led by
technology and industrial companies, before the release of data that will likely show a decline in exports..

Australia Feb. Business Confidence
Unchanged M/M at 3

Japan 4Q GDP Fell 0.3% Q/Q

Treasuries Fall as Oil Extends
Rebound; Curve Flattens

Brent Surpasses $40 for First Time
Since December

S&P 500 Up 0.1% to 2002, Range
1989-2006

Asian Stocks Swing as China
Stimulus Outlook Boosts
Commodities

Qatar c.bank chief: riyal's peg has
been of great benefit
GCC News Qatar long experience in pegging the riyal to the dollar has shown that it’s better for our economy to keep this
peg because of its benefits,” central bank Governor Sheikh Abdullah bin Saoud Al Thani tells Lusail newspaper. Gulf Arab
stocks are picking up momentum, with Qatari shares on Monday following gauges in Dubai and Abu Dhabi into a bull
market. The QE Index advanced 2.3 percent, taking the measure’s gain since a Jan. 18 low to 22 percent. Abu Dhabi’s ADX
General Index entered a so-called bull market on Sunday and Dubai’s DFM General Index reached the milestone last month.
The rally has helped lift the Bloomberg GCC 200 Index, a gauge of the biggest and most liquid companies in the six-nation
Gulf Cooperation Council
.



Germany Industrial Production
(Jan)
EU GDP SA 4 Q
US NFIB small Business optimism