The biggest attention grabber out of Japan is today's 7.7% moonshot on the stock market, based on hopes of further central bank stimulus in Asia as well as an expected corporation tax cut over the next few years. Never mind that this comes just one day after the Nikkei joined many other major global stock indexes in wiping out its gains for the year.
An interesting weekend intervention by ECB policymaker Yves Mersch who said there was no question of winding up QE early and that inflation, still skulking around zero, would stay there until autumn then rise sharply late in the year towards 1.5 percent.
from Morning Bid with David Gaffen:
Friday’s jobs report will possibly alleviate a bit of a confounding period in the market, where the Treasury curve, particularly the long end, has been under intense selling pressure in a counter-intuitive move, seeing as how data has been largely lackluster.
The Greek government has sent a reform package to its EU and International Monetary Fund creditors, hoping it will unlock desperately needed funds to stave off bankruptcy.