Morning 3-27

Risk on! Spoos Continue to bounce for a second day but unlike yesterday Europe has decided to join the party. Dax +1.6%, CAC and Mib +1.33%.Spoos +.5% after closing 2.38% higher yesterday. Nasdaq +.8%,Closed higher yesterday 3.3%.I don’t fully believe trade war worries have subsided but market know all .Dollar has identical range to yesterday she is trading higher by .6%,Euro -.5%,JPY -.4%.Gold -1%,Silver -.8% copper +.8%. Yesterday everyone hated the dollar and loved euro today exact opposite. Oil ignoring Dollar strength for now but doubtful it can stay this way if dollar continues to push higher. GBP being hit hard as she trades lower by over 1% vs dollar as negative Brexit comments hit sentiment.
Treasuries higher in short end down a touch in the long end. Curve a bit steeper as only $124 b of Gov. Paper to be auctioned off today. Bunds and gilts little changed to higher. Import price data from Germany lower then consensus Economic confidence of Eurozone lower than expected providing a reason to sell Euro. Month end, quarter end, Low Liquidity, Holiday themed markets all playing a role in the choppy inexplicable moves.
Economic data:
10:00 Consumer confidence
10:00 feds Bostic

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