Good Thursday Morning!
Inflation in the Euro Area inched lower to 8.5% in February, the lowest since last May, but above market expectations of 8.2%, pushing markets down halfway through the trading day. Germany’s DAX is down 78 points, or 0.50%, the CAC 40 and the FTSE are down 0.42% and 0.29%, respectively.
- Asian markets were mostly unchanged with the biggest move coming from Hong Kong as the Hang Seng index fell 0.92%.
US Markets are mixed with Dow futures up 0.20% while Nasdaq and S&P futures are down 0.6% and 0.4%, respectively. Treasury yields held on to the four handle at 4.04%.
A light morning for economic data we have jobless claims at 8:30 AM and economics are expecting claims to stay under 200k but they are expected to rise to 197k. At Noon, we will get weekly mortgage rates from Freddie Mac.
- Morning Read: The Wall Street Journal is reporting that CPI and PCE diverging this year could make it hard for the Federal Reserve to explain to the public why it is holding interest rates high…(WSJ)