ASIA:Japan is expected to experience a significant increase in annual interest payments on government debt, reaching 24.8 trillion yen ($169 billion) over the next decade, according to draft government estimates seen by Reuters. The Ministry of Finance prepared the latest estimate for parliamentary discussion on the government’s budget bills, highlighting the potential rise in financing costs as the central bank considers exiting crisis-mode stimulus. The Bank of Japan’s unconventional policies, including negative interest rates, have kept borrowing costs extremely low, supporting government debt.The major Asian stock markets had a mixed day today:
The major Asian currency markets had a mixed day today:
The above data was collected around 11:56 EST.Precious Metals:
The above data was collected around 12:00 EST.
EUROPE/EMEA:Germany’s lower house of parliament has approved the 2024 budget, adhering to the self-imposed debt brake. The budget, finalized after tense negotiations, allows Germany, the top economy in Europe, to issue 39 billion euros ($42.43 billion) in new debt, staying within the government’s set limit. The debt brake, a constitutional provision in Germany, limits the public deficit to 0.35% of the gross domestic product.The major Europe stock markets had a mixed day today:
The major Europe currency markets had a mixed day today:
The above data was collected around 12:54 EST.
US/AMERICAS:The U.S. labor market saw a significant increase in January 2024, with 353,000 jobs added, surpassing economists’ expectations. The gains were widespread, with the health care and social assistance sector leading the way by adding over 100,000 jobs. Professional and business services also showed strength with an addition of 74,000 jobs, while manufacturing employment saw a notable increase of 23,000 jobs. However, the mining and logging sector experienced a loss of 7,000 jobs. The unemployment rate remained below 4% for the longest period since the 1960s, and average hourly wages rose unexpectedly fast, posing potential challenges for the Federal Reserve’s monetary policy.US Market Closings:
Canada Market Closings:
Brazil Market Closing:
ENERGY:The oil markets had a mixed day today:
The above data was collected around 13:13 EST.
The above data was collected around 13:19 EST.
BONDS:Japan 0.665% (-3.2bp), US 2’s 4.39% (+0.197%), US 10’s 4.0504% (+18.74bps); US 30’s 4.24% (+0.140%), Bunds 2.237% (+9.7bp), France 2.744% (+9.8bp), Italy 3.821% (+10.4bp), Turkey 24.86% (+9bp), Greece 3.321% (+7.6bp), Portugal 2.955% (+8.4bp); Spain 3.168% (+9.1bp) and UK Gilts 3.917% (+16.8bp)The above data was collected around 13:22 EST.More By This Author:
