In Asian Equity Markets stocks climbed to their highest in more than 18 months on Thursday, as investors grew more confident about China while the dollar slightly firmed in the wake of growing concerns over political instability in Europe. MSCI’s broadest index of Asia-Pacific stocks outside Japan gained 0.4 percent to their highest since July 2015 with Hong Kong, Taiwan and China among the region’s best performing markets. The Nikkei was down 0.2 percent at midday at 18,971.46. The broader Topix fell 0.3 percent to 1,519.60, while the JPX-Nikkei Index 400 was down 0.4 percent at 13,621.92. Chinese markets were higher in early trade, as the Shanghai composite added 0.11 percent, while Hong Kong’s Hang Seng Index gained 0.4 percent.

In Currency Markets the dollar managed to stabilize on Thursday after the previous session’s slide, although lingering risk aversion pinned Treasury yields near multi-week lows and restrained the greenback’s bounce. The euro was down 0.1 percent at $1.0678 edging back towards a one-week low of $1.0640 reached on Wednesday on heightened European political woes. The dollar rose 0.3 percent to 112.265 yen after nearing a 10-week low of 111.590 the previous day. The New Zealand dollar was down 0.8 percent at $0.7201. The Australian dollar suffered collateral damage and last traded at $0.7615, down 0.4 percent on the day. The dollar index against a basket of major currencies was up 0.1 percent at 100.370.

In Commodities Markets oil prices rose on Thursday, boosted by an unexpected draw in U.S. gasoline inventories, although bloated crude supplies meant that fuel markets remain under pressure. Brent crude futures were trading at $55.41 per barrel, up 0.5 percent, from their last close. U.S. West Texas Intermediate crude was up 0.5 percent, at $52.60 a barrel. The U.S. EIA said on Wednesday that gasoline stocks fell by 869,000 barrels last week to 256.2 million barrels, versus analyst expectations for a 1.1 million-barrel gain. Spot gold fell 0.1 percent to $1,240.46 per ounce, while spot silver fell 0.4 percent to $17.71 an ounce. Platinum was firm at $1,013.90 and palladium rose 0.2 percent at $769.97.

In US Equity Markets the S&P 500 ended slightly higher on Wednesday as investors digested mixed earnings reports, while the Dow Jones Industrial Average slipped as bank stocks weighed. The Dow Jones Industrial Average fell 0.18 percent, to 20,054.34, the S&P 500 gained 0.07 percent, to 2,294.67 and the Nasdaq Composite added 0.15 percent, to 5,682.45. Allergan shares rose 3.7 percent after the drugmaker’s fourth-quarter profit and revenue topped estimates. Gilead Sciences shares tumbled 8.6 percent and were the biggest drag on the benchmark S&P after the biotech company’s weak forecast for its hepatitis C medicines. Goldman Sachs fell 0.8 percent, making it the biggest drag on the Dow, and JP Morgan lost 0.9 percent.

In Bond Markets U.S. Treasury yields fell to their lowest levels in multiple weeks on Wednesday with 5-year note yields hitting their lowest since Dec. 8 as a flight to safety and technical positioning encouraged investors to buy U.S. government debt. Yields on 7-, 10- and 30-year Treasuries fell to their lowest levels since mid-January. The 10-year note was last up 9/32 in price to yield 2.358 percent.

Economic Calendar
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