Stocks were higher across Asia. Shanghai was up 2.3%, Australia rose one percent, while the Hang Seng and Nikkei were both up 0.9%. European indexes are well bid this morning with the DAX up 1.8% and the Footsie better by 1.3% at the moment. US stock futures are one percent higher as I write.
*UK Brexit vote is set for June 23; London Mayor Boris Johnson supports leaving the EU.
*The preliminary February reading of the Euro Zone manufacturing sector Purchasing Managers Index is 51.0; down from 52.3 the month before and one point under the forecast, according to Markit. The service secotr PMI was 53.0, a fraction less than the estimate and six tenths under the previous month. In France the manufacturing PMI was 50.3, slightly better than expected, but the services reading was 49.8, slightly worse than expected; and in Germany the manufacturing PMI was down two points at 50.2, worse than forecast, but the services was a few tenths better than the estimate at 55.1.
*The January reading of Switzerland’s Producer and Import Prices is -0.4% on the month and -5.3% on the year; both results were one tenth more deflationary than expected.
*The Chicago Fed National Activity Index is due out at 7:30am CST, it is expected to be -0.10, a slight improvement from -0.22 the month before.
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