ASIAN EQUITY MARKETS 

 
traded mixed on Tuesday as Shares of Nomura continued to see losses in on Tuesday as they
declined nearly 3%. The firm’s stock after tumbling more than 16% on Monday after the company
warned of a significant loss at one of its U.S. subsidiaries. as investors were cautious given the
movement in the shares prices of Nomura after its plunge on Monday which rekindled concerns
about inflation and higher bond yields.
HK was up 0.4% in mid-day trade, Shanghai lost 0.2% while Japan’s Nikkei slipped 0.2% (please
round the numbers, no need for 2 digits after the coma) South Korean shares rebounded, while
worries over a hedge fund default that rattled global banking stocks overnight had only limited
impact. Most heavyweights gained, with chip giants like Samsung Electronics and SK Hynix rising.

On the data front, Retail sales in Japan declined by 1.5% in February from a year earlier, on year on
year basis according to data released by Ministry of Economy, Trade and Industry.
China’s top flat steel producers are primed for profit from a post-COVID-19 recovery in global
manufacturing and goods demand in 2021.
On the data front, German exporters are increasingly optimistic to benefit from a pick-up in
economic growth in Asia, a survey by the IFO economic institute showed on Monday. Their
expectations rose to 24.9 points in March. It is the highest value since January which indicates that
optimism has increased in nearly all sectors This news is data in Europe, not Asia
In other Asia news, Index provider FTSE Russell gave final approval on Monday for inclusion of
Chinese sovereign bonds in its flagship bond index, setting the stage for billions of dollars of inflows
into the world’s second-largest economy.
On the currency front, the Japanese Yen slumped significantly to 109.89 for a dollar while China’s
offshore yuan traded at 6.57 for a dollar
WTI and Brent traded (higher/lower ?) in Asia on 61.55 usd  &  64.83 usd respectively per barrel.
US EQUITY MARKETS 
closed mostly lower on Monday amid concerns about potential spillover after a large investment
fund was forced to sell massive holdings in stocks, causing prices to tumble.

The DJ rose by 0.3%, the Nasdaq lost slumped by 0.6% while the S&P fell by 0.1%, sending the
Volatility Index, to 20.74
6 out of S&P’s 11 sectors fell; resulting in a 0.1% dip in the index. (already said above) Among losing
sectors, Energy, Financials and IT stood out lost the most, while Whereas Utilities and consumer
staples gained the most market by more than 1% each.
In corporate news, Allstate’s shares gained more than 2% 2.3% and expects to book a net loss of
about $4 billion as it after it completed the exit of its life and annuity businesses. (not the right
tense, needs to be accorded) Similarly, Southwest shares (no need to use the word shares) fell 0.5%
on Monday after the airline placed 100 firm orders for the Boeing 737 Max. Notably, Of note, Credit
Suisse and Nomura warned of potential substantial losses after one of their clients which is
reportedly Archegos Capital Management, defaulted on margin calls and was forced to sell more
than $20 billion in stock last week. Moreover, Moderna said it had shipped the 100 millionth dose of
its COVID-19 vaccine to the U.S. government and expected to meet its commitment dates for all
current orders. The share fell 7.4%.
On the data front, no notable economic data was available on Monday. Looking ahead to Tuesday (If
there is no data on the specific date, we just don’t mention anything)
Of note, In other news, President Biden is expected to announce an infrastructure spending plan on
Wednesday. In addition, the White House press secretary said that the administration will seek
another stimulus bill after passing the infrastructure plan. Meanwhile, In other news, Over 51
million people in the US have been fully vaccinated, according to data from the CDC.
US Treasury yields rose on Monday as the US 10Y yield closed down lower at 1.721%. 
The dollar rose against a basket of major foreign currencies, the dollar index was up by 0.2%, trading
at 92.93
OIL prices shook of earlier pressure (explain why, this is on CNBC website : as shipping traffic
resumed through the Suez Canal after days on hold and attention switched to an OPEC+ meeting this
week where the extension of supply curbs may be on the table amid new coronavirus pandemic
lockdowns. Oil was up by 1% to settle at $61.56 a barrel.
GOLD  slid 1.2% and was closed settling at $1712 an ounce. Same as above: give reason why : to an
over two-week low on Monday as a firm dollar and rising U.S. Treasury yields dented the safe-haven
metal’s appeal,

EUROPEAN EQUITY MARKETS 

rose moderately on Monday amid fears of 3rd wave of corona virus hitting major countries. UK’s
FTSE 100 was down at 0.1%, the French CAC 40 up 0.4% , while the Italian FtseMib gained 0.1%
and the German Dax closed at gains of 0.5% higher.

As for The Stoxx 600 index, it rose by 0.2%, with significant gains of 1.5% in food& Beverages while
financial sector shrinked by dipped 1.9%.
In corporate news, Cellnex Telecom climbed nearly 5% after Singaporean wealth fund GIC agreed to
buy a 2.5% stake in the Spanish wireless company. Oil prices around the world eased as Suez Canal
resumed operations on Monday after a week of global trade blockage. (This is no corporate news).
Credit Suisse’s stock tumbled 13% as a significant U.S.-based hedge fund defaulted on margin calls
made last week by Credit Suisse. Hugo Boss slipped 1.6% after the German fashion house got caught
in a concerted boycott by Chinese celebrities and consumers over Western accusations of forced
labour in Xinjiang.
On the data front, In other news The European Union’s much-needed coronavirus stimulus plan has
hit a stumbling block after the German constitutional court raised questions about the procedure of
new debt is being taken on. (this no data)
European Bond yields rose on Monday, with Germany’s 10Y bund up at -0.32%, France’s 10Y OAT
steadied at –0.061% Italy’s 10Y BTP  settled at 0.64% while and UK’s 10Y Gilt was down to 0.783%

 The EURO stumbled to dollar at $1.1787 from $1.1794, while the british pound went up against
the dollar at $1.3828 from $1.3789

REGARDING XXX LARGEST ETF FLOWS 

Investors bought  Investors sold 
 COUNTRIES: COUNTRIES:

SECTORS: SECTORS:

FIXED INCOME: FIXED INCOME:

COMMODITIES: COMMODITIES:

In other ETF news,

KEEP AN EYE ON 

ON TODAY’s ECONOMIC AGENDA WATCH :
EUROPE :
Swiss KOF Leading Indicators (Mar)
Spanish CPI (March)
Italian 10-Year BTP Auction
German CPI (Mar)

US : US API Weekly Crude Oil Stock/ CB Consumer Confidence (Mar)

Asia : Japan Industrial Production (Feb)

Chinese Composite PMI (Mar) Manufacturing PMI (Mar)

Companies reporting earnings include:  Carnival Corp , Bank of China

While those trading ex-dividend include: Deere&Company, Pioneer Natural , AvalonBay

Markets are closed in Israel for Holiday

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GeoFinance -03-21   

GeoFinance Podcast -03-21