Monday, February 26, 2018

Good morning-  Global equities are all ripping higher to start this morning’s session. In Europe, the Stoxx 50 is up 22 points, the DAX up 52 points, and the FTSE is up 40 points. In Asia, the Nikkei is up 40 points and the Hang Seng is up 74 points. US equity futures point to a higher open with the DOW up 142 points, the S&P up 9 points, and the NASDAQ up 26 points. WTI crude is stabilizing around $63.61 after Saudi Oil Minister Khalid Al-Falih said that OPEC and its allies may ease output curbs in 2019 in a way that won’t disturb the market. Treasury yields are 1-3bps lower across the curve, pushing the 10yr treasury down below 2.84%. In the credit space, we saw $17.4bn in IG price amid a drop in broader market volatility.  This morning we will hear from the Fed’s Bullard and at 10am we will see data on new home sales.