From Nasdaq:

Markets continue to wait and see, with the eurozone looking to cut rates and the US focusing on the Fed’s upcoming policy decision and jobs report. BP is scrutinized for keeping its eye on oil and gas despite its clean energy shift, and the European Commission aims to recommend a 2040 net emissions cut. As the US Treasury announces falling yields, a quarterly borrowing estimate is slashed. Meanwhile, ESG investors push back on BP’s oil-output reduction target. The European Commission is set to recommend a 90% reduction in European emissions by 2040, and a full net emissions cut by 2050. The think-tank Institut Rousseau estimates 1.16 trillion euros would be required each year to achieve net zero emissions by 2050. On the other hand, Jim Reid of Deutsche Bank notes that there was a significant sovereign bond rally in Europe and mentioned sovereign bond rally for the past years. Bond investors now gear up for a looming interest cut from the Fed and China sees their 10-year-yield falling to a two-decade low. Treasury yields are also starting to show the pressure as the US corporate bond sales hit a record in January. The euro zone also unexpectedly escaped recession, but struggles persist. Furthermore, Middle Eastern tensions are rising while the United States shows it’s not seeking war with Iran. Amazon scraps a $1.45 bn iRobot purchase over the EU’s threat to block the deal and OPEC+ exports indicate a slow start to new oil cuts. The Russian weather restrictions are easing up and funds are slashing their bearish positions in US crude.



Read more: Markets Wait and See Mode Ahead of Macro Data, Earnings