What’s Next in the Global Markets?
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STOCKS – European stocks gained as investors looked past losses in Asian markets triggered by a weakening yuan. S&P 500 futures rallied ahead of the Wall Street opening bell.
BONDS – The benchmark 10-year U.S. Treasury yield was down almost three basis points at 1.75 percent and the 10-year Bund yield was down nearly two basis points at 0.25 percent.
COMMODITIES – West Texas Intermediate crude rose, after sliding 1.4 percent on Tuesday on news of a Saudi-Russia output agreement, the first significant cooperation between OPEC and non-OPEC producers in 15 years.
CURRENCIES – The pound erased losses against the euro after a report showed U.K. wage growth unexpectedly accelerated in the three months through December.
ECONOMIC DATA – US Building Permits and PPI due at 8:30, Industrial Production m/m at8:15, FOMC Meeting Minutes at 14:00, NZD PPI at 16:45, AUD Unemployment Rate at 19:30, CNY PPI and CPI at 20:30 ET.S – The Japanese yen and euro strengthened during the overnight trading session.
– Trading Team, Rios Quantitative LLC