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What to Watch: Feb PPI, Bank Share Headlines

US TSYS
  • Real vol delivering as US rates markets see-saw near late overnight highs, surge in risk-off support amid heavy selling in European bank shares (Credit Suisse, BNP Paribas, Societe Generale) have rekindled Monday's rate cut expectations by mid-year.
  • Aside from bank share headline risk, markets waiting for next round of inflation data with Feb PPI at 0830: Final Demand MoM (0.7%, 0.3%); YoY (6.0%, 5.4%) as well as Retail Sales Advance MoM (3.0%, -0.4%).
  • Also at 0830ET: UK: Chancellor of the Exchequer Jeremy Hunt is set to deliver the Budget Statement in the House of Commons.

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