Asian markets firmer this morning, with the Nikkei the standout performer up around 1.3% after the BOJ expanded their asset purchase fund to 55 trillion yen from 45 trillion, following in the steps of the ECB and the Fed in stimulus programmes. S&P affirmed their AAA/A-1+ rating on Australia with outlook stable, citing ample fiscal and monetary policy flexibility. Meanwhile, the Telegraph reports that a senior advisor to the Chinese Government has called for an attack on the Japanese bond market to precipitate a funding crisis, unless the “island dispute” is resolved.

In Europe, Greek PM Samaras and his coalition partners will meet today to seek common ground on measures to take for their austerity deal. European construction output data will be released this morning. Equity futures are pointing to a rise of around 60 bps.

In the US today we have Housing starts and building permits data, US futures are looking around 30 bps higher.


Philip Ball | Sales and Trading