- Stocks and U.S. index futures gained on Wednesday, while a selloff in sovereign bonds halted, providing some relief to markets that have been tossed around in recent weeks by fears about monetary policy tightening.
- The Stoxx Europe 600 index increased by more than 1% as technology stocks recovered and a slew of generally favourable quarterly announcements boosted investor confidence. Amundi, Europe's largest asset management, saw its stock rise the highest in a year after bringing in more client funds than experts had predicted. After weak earnings from ABN AMRO Bank and Svenska Handelsbanken, banks underperformed. Iron ore fell, putting pressure on basic-resources companies.
- Futures on the S&P 500 and Nasdaq 100 climbed. After France's central banker indicated markets may be getting ahead of themselves in pricing rate rises this year, the 10-year treasury yield plummeted to levels last seen in 2019. Yields throughout Europe also dipped. The value of the dollar declined.
- ECB's Nagel: The first step would be to stop buying bonds, after which rates could begin to rise as early as 2022- Die Zeit.
- ECB's Nagel: Inflation in Germany is expected to be much higher than 4% in 2022.
- Japan's Eco. & Trade Min. Hagiuda: We've agreed to work together to provide LNG to Europe; Shipments of LNG are already on their way to Europe, anticipated to arrive in February/March.
- Japan has extended a virus quasi-emergency for 13 locations until March 6th - NHK
