Morning 2-11

Via Forex live

   European stock market traded cautiously higher on Thursday, after the European Commission forecast a slow economic recovery this year and pointed to vaccination campaign as key but raised 2022 growth. The EC lowered its GDP forecasts for 2021 to 3.8% from 4.2% in November while raising 2022 growth to 3.8% from 3%. Meanwhile, traders continue to follow corporate updates, coronavirus figures, restrictions and the vaccination campaign. AstraZeneca reported a 10% increase in product sales for 2020 and Credit Agricole remained profitable in Q4 while Commerzbank revenues declined 6.6% in the last quarter of 2020” Trading Economics.

  US 2 year yields new record low below 10 bps, we could see some short, 4- and 8 week bills auctioned at zero today hmmm BoA calling for a raise in  IOER to pull rates away from Zero . dovish Powell yesterday saying” patiently accommodative monetary policy stance will be an important factor getting economy back to a healthy stance “goldilocks again? Fed want to get close to their definition of Full employment, Powell also said to look past and base effects that will increase in inflation   Plenty of stimulus (fiscal and Fed) bit of growth and No fear of rate hikes anytime soon   buy em up!  Dollar sideways and commodities with a small bid From JPM echoing GS “-JP Morgan said they believe commodities may have just started a new super cycle; in particular an oil up cycle; the tide on yields & inflation is turning.”

 Stocks higher at least ones that are open most of Asia Closed for holidays, Copper and Nickel 6+ year highs   another bubble sign?? Dating app Bumble raised $2.2 billion in its IPO, selling 50 million shares at $43, which was above the previous pricing range of $37 to $39. The company offered 5 million more shares than anticipated.

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