So, this time next week, I will be a year older, but probably not a year wiser—just a week wiser. Here’s what I learned while you were working on REM sleep:
MARKETS: Steadier oil prices lift Asian markets; Futures are up, and Bullard isn’t even on set today!
STRONG: Inflation in the EZ rose by 2.4 percent compared to last year, the highest level since Oct. 2008 (and well above the ECB’s target of ‘below, but close to, 2 percent).
CHINA: Lower PMI readings dampen fears of further tightening measures in the country, and sayings inflation may peak in Q2.
CHIMERICA: Thanks to brokers across the pond, the US owes nearly a third more to China than previously thought—$1.16 trillion, a $268 billion increase over two weeks ago.
HOT COMMODITY: Aluminum Corp of China or CHALCO swung to net $118m profit, versus a net loss of $700 million a year ago.
DOMESTIC DATA: Jan. construction spending and Feb. ISM is out at 10 A.M.—analysts look for a 0.4 percent drop in spending and a manufacturing reading of 60.9, virtually unchanged from Jan.
GOLD WATCH: Sources say someone or something is working today to keep gold below $1416, should it bid through, there could be some fireworks.
BOURSE WATCH: Egypt’s market was supposed to open today. And didn’t. They say Sunday now.
COLD CASH: JPM says it could face “material” fines from the probe into foreclosures.
HOT SEAT: Ben in the Senate; Tim in da House.