3 April 2017. Daily Markets Updates

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Headlines-International
German unemployment falls to new record low as economy booms; Number of people out of work falls 30,000 vs est. 10,000 drop; Jobless rate declined to record-low 5.8 percent in March.
Berkshire Hathaway Energy boosts 3-Year capex plan by $4.6b; Berkshire Hathaway Energy in slides filed with the SEC for its March 31 fixed-income investor conference in New York says 2017-19 capital expenditure projections have increased by $4.6b from prior-year outlook.
Gas exports to send U.S. stockpiles to 3-Year low before winter; Rising U.S. natural gas exports are soaking up so much excess supply that stockpiles may start the next heating season at a three-year low.
Hammond says U.K. ready to discuss Brexit payments; U.K. willing to have constructive negotiations to reach best possible deal in EU exit, Chancellor of the Exchequer Philip Hammond tells Handelsblatt.
PBOC raises Interest Rates on standing lending facility loans; China’s central bank raised interest rates for standing lending facility loans, aimed mainly at small- and medium-sized financial institutions, it announced Saturday.
Dudley says couple more rate hikes in 2017 seems reasonable; New York Fed chief discusses FOMC outlook for three 17’s moves; Fed may allow balance sheet to shrink starting later in year
U.S. consumer spending rose less than forecast in February even as wage growth improved, according to government data that also showed inflation reached the Federal Reserve’s 2% goal for the first time in almost five years.
OPEC’s Barkindo Sees Progress in Oil Cuts as Stockpiles Fall; Cautiously optimistic’s market is rebalancing, Barkindo says; Iraq complied with 98% of its promised cut in March
Market in Details
FX
U.S. Dollar Index down 0.06% to 100.35
AUD/USD up 0.1% at 0.7636 after closing out the month down 0.4%.
NZD/USD steady at 0.7007, lost 2.6% in March.
Rates
German 10Y yield narrowed 0.5 bps to 0.328%; Italian 10Y yield narrowed 12.6 bps to 2.022%; Spanish 10Y yield widened 1.8 bps to 1.667%
U.S. 10Y yield narrowed 3.2 bps to 2.3874%;
Australian 10-year bond yield falls 1bp to 2.69%, 3-year yield little changed
AUS Sovereign bonds open higher, in line with U.S. Treasuries which rose after Fed’s Dudley said “a couple” more interest-rate increases this year “seems reasonable” and that there’s no ” a great urgency” to tighten monetary policy.
Equities
STOXX Europe 600 up 0.2% to 381.14; Index rounded out its longest run of quarterly gains since 2014, rising 5.5 percent.
S&P 500 down 0.2% to 2,362.72; Dow Jones down 0.3% to 20,663.22; Nasdaq down 0.04% to 5,911.74; Friday’s session reprised a pattern that has held for more than a month in which a week’s final hour saw exaggerated volatility, this time to the downside

 

Commodities
Gold spot up 0.2% to $1,247.30; WTI Futures up 0.5% to 50.60;
May Dalian iron ore futures fall for 8th time in nine days, capping worst monthly loss in series, amid signs recent gains may be vulnerable to pullback on rising supply.
Regards All.
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