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PVM Midday Report 31 March 2014

Published Monday, March 31st, 2014


  1. Eurozone inflation slips to 0.5% in March – lowest level since November 2009
  2. Crude oil tanker shot at whilst sailing through Strait of Hormuz
  3. German retail sales unexpectedly jump 1.3% in February
  4. UK mortgage approvals fall 8% in February from January
  5. ICE Brent speculators cut net length by 5,130 lots in week to March 25


Economy: European equity markets are ending the first quarter on a positive tone as geopolitical concerns ease and expectations of monetary stimulus measures from the Eurozone and China grow – the Eurofirst 300 is gaining 0.2%. Emerging-market stocks are also benefiting from the on-going crisis talks between Russia and the US as well as the result of local elections in Turkey pointing to increasing support for the ruling political party. The mildly bullish mood is denting demand for safe haven assets as yields on 10-year US Treasuries rise 0.04% and the Japanese yen falls to a two-week low against the greenback

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Posted by Stephen Brennock

Stephen Brennock joined PVM in 2013 after having worked as a project manager for a business development firm. He graduated with a degree in Business Management in 2007.