Straticator
MetaTrader 4
Vertex FX 10

Morning bullet points

*  US Treasuries hold gains in Asia as equities trade mixed,the Nikkei -0.6%, hang Seng +0.3% and the ASX +0.7%.

*  Sources say the BoJ would rather be late than early in raising 10y yield tgt even if CPI hits 1% later this year and sees considerable risks in moving too quickly.

*  Japanese PMI 52.8 v 52.4 prev , the fatsest pace in 3 years.

*  US Treasury Secretary nominee Steven Mnuchin said “excessively strong” dollar may have negative impact.

*  US judge approved $1.2bn settlement for VW dealers.

*  Feds Lacker (outgoing hawk) said Fed is “at risk of getting behind the curve”.

*  ESM approved debt relief measures for Greece, including bond exchange but Greece has not made enough progress for foreign auditors to return to Athens, Ekathimerini reports.

*  French Presidential frontrunner Fillon said China needs to change to attain market economy status and he urged Merkel to soften her stance on Russia.

*  Australia pushes for TPP without US after Trump signed decree to exit deal.

*  Japan is not considering deal without US.

*  EU Chief Brexit Negotiator Verhofstadt said Brexit is an opportunity to pull Europe closer together, its far too early to speculate on the impact for Britain or City of London and will have to see if UK ask for free trade agreement or something different.

*  In Bonds space we have the Japan 40y auction,French 20y Green bonds + Spain new 10y both have mandates out, while U.K. 40y syndication also likely, as well as Netherland 5y auction.

*  Data wise we have French pmi at 8am,German pmi's at 8.30am and European pmi's at 9am.UK puiblic debt data at 9.30am.

*  Speakers see ECB Villeroy at 8am,ECB Lane at 9.05am,and ECB Sabine at 6pm.

*  US Mfg pmi at 2.45pm and Existing Home sales at 3pm with Ricmond fed at 3pm.

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