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Quiet start to week as earnings season ramps up

- 05:30 (DE) Germany to sell combined €6.0B in 6-month and 12-month Bubills. - 05:30 (NL) Netherlands Debt Agency (DSTA) to sell €2.0-4.0B in 3-month and 6-month bills. - 05:30 (ZA) South Africa announces details of upcoming I/L bond sale (held on Fridays). - 06:00 (IL) Israel Mar Trade Balance: No est v -$2.8B prior. - 06:00 (PT) Portugal Mar PPI M/M: No est v 0.0% prior; Y/Y: No est v -2.0% prior. - 06:00 (IL) Israel to sell bonds. - 06:00 (RO) Romania to sell RON500M in 2.5% 2027 Bonds. - 06:45 (US) Daily Libor Fixing. - 07:00 (BR) Brazil Apr IGP-M Inflation (2nd Preview): 0.8%e v 3.0% prior.

Looming sanctions whack Russian markets

Publicis [PUB.FR] +3% (sales), Deliveroo [ROO.UK] -1% (trading update). - - Speakers - BOE Q2 Bank Liabilities and Credit Conditions Surveys noted that lenders expected the availability of secured credit to increase over the next three months to end-May. Total funding volumes were expected to increase in the three months to end-May (Q2). - German Fin Min Scholz reiterated stance that govt must support businesses and households until the pandemic was over. Country could afford to finance all spending that was needed and stressed that Germany would be better off compared to other countries after the crisis. - German Leading Economic Institutes confirmed it cut its 2021 GDP growth forecast from 4.7% to 3.7% (as speculated). Raised 2022 GDP growth forecast from 2.7% to 3.9%. Cautioned that further delays in vaccine deliveries and virus mutations were the biggest downside risks.

ECB speak out in force to keep policy accommodative

ECB speak out in force to keep policy accommodative
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