***Looking Ahead***

– (UK) BOE member Weale
– 11:00 (US) Fed to purchase $1-2B in TIPS
– 11:30 (US) Treasury to sell 4-Week Bills
– 13:00 (US) Treasury to sell $35B in 5-Year Notes
– 13:30 (BR) Brazil Feb Central Gov’t Budget (BRL) 3.4Be v 14.1B prior
– 15:00 (AR) Argentina Feb Shop Center Sales Y/Y: No est v 27.2% prior
– 16:30 (US) Weekly API Energy Inventories

10:30 AM Market Internals update at 10:30ET

– NYSE volume 180M shares, about 15% below its three-month average; advancers lead decliners by 1.3:1.
– NASDAQ volume 375M shares, about 18% below its three-month average; advancers lead decliners by 1.5:1.
– VIX index -0.1% at just over 19.00

5:45 AM TradeTheNews.com European Market Update: Spain’s third-largest savings bank requests State aid that is nearly twice its capital shortfall estimated by the Bank of Spain.

***Economic Data***

– (GE) Germany Apr GfK Consumer Confidence: 5.9 v 5.8e
– (SZ) Swiss Feb UBS Consumption Indicator: 1.46 v 1.66 prior
– (FR) France Feb Consumer Spending M/M: 0.9% v 0.5%e; Y/Y: 5.5% v 4.8%e
– (GE) Germany Mar CPI Saxony M/M: 0.5% v 0.5% prior; Y/Y: 2.0% v 2.2% prior
– (HU) Hungary Feb Unemployment Rate: 11.5% v 11.3%e
– (IT) Italy Mar Business Confidence: 103.8 v 102.5e; Highest reading since May 2008
– (GE) Germany Mar CPI Brandenburg M/M: 0.5% v 0.6% prior; Y/Y: 2.0% v 1.8% prior
– (GE) Germany Mar CPI Hesse M/M: 0.4% v 0.6% prior; Y/Y: 1.8% v 1.8% prior
– (SP) Spain Feb YTD Central Govt budget Balance: +0.18% of GDP
– (UK) Q4 Final GDP Q/Q: -0.5% v -0.6%e; Y/Y: 1.5% v 1.5%e
– (UK) Q4 Current Account: -£10.5B v -£10.5Be
– (UK) Feb Net Consumer Credit: +£0.8B v -£0.1Be; Net Lending £1.2B v £1.3Be
– (UK) Feb Mortgage Approvals: 47.0K v 46.0Ke
– (UK) Feb M4 Money Supply M/M: -0.3% v 0.8% prior; Y/Y: -1.5% v -1.7% prior; M4 Ex OFCs 3M Annualized: 0.5% v 3.2% prior
– (UK) Q4 Final Total Business Investment Q/Q: 0.0% v -2.5% prior; Y/Y: 12.2% v 10.0% prior
– (IC) Iceland Mar CPI M/M: 1.0% v 0.8%e; Y/Y: 2.3% v 2.1%e
– (GE) Germany Mar CPI Bavaria M/M: 0.5% v 0.5% prior; Y/Y: 2.1 v 2.1% prior
– (IR) Ireland Feb PPI M/M: -02 v +1.0% prior; Y/Y: 0.6 v 1.3% prior

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