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Molecular Partners [MOLN.CH] +5% (trial),
AstraZeneca [AZN.UK] -1% (Ireland suspends use of vaccine)
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Speakers
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BOE Gov Bailey0reiterated stance that current lockdown was having less effect on economy compared to a year ago. Had a more balanced picture on risks and could see a spending of savings and viewed as an upside risk. Very helpful that furlough scheme to extend beyond end of covid restrictions. Would expect a pickup in inflation towards 2% in the coming months; but question was whether such gains are sustainable; not expecting inflation to rise to 4.0-5.0% area. BOE is not out of tools or firepower
Shoe Zone [SHOE.UK] -8% (earnings)
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Speakers
BOE Gov Bailey stated that the economic outlook is positive with large doses of cautionary realism. Recognize the increasingly 2-sided nature of risks. Toolkit decisions should not be interpreted as a signal about the future path of monetary policy. Contingency planning for negative rates implies nothing about BOE intentions in that direction
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Bank of Spain (BOS) Dep Gov Delgado stated that restriction on banking sector dividends likely to be lifted in Sept
- Poland Central Bank (NBP) Quarterly Inflation Report raised the 2021 GDP growth forecast from 3.1% to 4.1% while cutting the 2022 GDP growth from 5.7% to 5.4%. The QIR raised the 2021 CPI forecast from 2.6% to 3.1% and raised the 2022 CPI outlook from 2.7% to 2.8%
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Speakers
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German Chancellor Merkel said to be under pressure to lay out a path to ease Germany’s coronavirus lockdown
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France Fin Min Le Maire stated that he was not concerned about the recent increase in borrowing rates. Govt had spent €16B of the stimulus plan. Would not raise taxes or tax household savings
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BOJ said to be prepared to defend Yield Curve (YCC) range before its March policy review. BOJ had no pre-set level for stopping yield rise and would depend on the speed of gains. Could act before yield hits 0.3%
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Currencies/Fixed Income
- 05:30 ((DE) Germany to sell €4.0B in 6-month BuBills
- 06:00 (CL) Chile Jan CPI M/M: 0.5%e v 0.3% prior; Y/Y: 2.9%e v 3.0% prior
- 06:00 (IL) Israel to sell bonds
- 06:45 (US) Daily Libor Fixing
- 06:25 (BR) Brazil Central Bank Weekly Economists Survey
- 06:30 (CL) Chile Jan Trade Balance: No est v $1.4B prior; Total Exports: No est v $7.1B prior; Total Imports: No est v $5.7B prior; Copper Exports: No est v $3.8B prior
- 06:30 (CL) Chile Jan International Reserves: No est v $39.2B prior
- 07:00 (MX) Mexico Jan Vehicle Production: No est v 254.3K prior; Vehicle Exports: No est v 275.1K prior