A look at the day ahead in European and global markets from Tom Westbrook
Australian jobs surprised to the upside, and traders largely shrugged off another North KoreanBut the minutes from last month's Fed meeting, which was held in an atmosphere of heightened fears over bank stability, suggested that policymakers' next moves will depend on credit conditions - and this will put more attention than usual on big U.S. bank earnings reports when they come out on Friday.
In a note titled "The Home Stretch", Goldman Sachs' chief economist Jan Hatzius is sticking with an out-of-consensus call that a U.S. recession is not a foregone conclusion, noting that bank crisis risks have receded considerably in the past month. Friday will bring some colour on the situation from Citi, Wells Fargo and JP Morgan Chase, although the focus remains on regionals. Earlier in the week, shares fell at the Bank of South Carolina
after it noted thin margins and "precipitous increases in our deposit costs to meet the intense competition amongst banks, brokerages, and the U.S. Treasury."InflationTesco earnings, British Feb GDP, Eurozone industrial output, U.S. jobless claims and PPI
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