Feb trade deficit narrowed to -$49.4b vs....>

US DATA: Feb trade deficit narrowed to -$49.4b vs -$53.4b BBG consensus 

and -$53.7b MNI expected. 

------------------------------------------------------------------------

- The BOP goods gap narrowed to -$72.0b in Feb and the census goods 

gap narrowed to -$71.0b. 

- Ex-petro, the goods gap narrowed to -$69.8b from -$71.1b, while the 

petro gap widened to -$1.2b from -$0.9b in Jan.

- The key drivers for the imports rise were gains in consumer goods 

(+$1.6b, led by cell phones) and capital goods ex. autos (+$0.2b, led 

by civilian aircraft engines.)

- The exports rise was led by capital goods ex. autos (+$2.1b, led by 

civilian aircraft) and autos (+$0.6b) 

- The bilateral trade gaps narrowed with Canada, China, and the EU, 

and widened with Mexico.