It will be another wild day. Bonds struggled, stocks hit the skids again in US session but eased in Asia session, FX markets wait for FOMC and BoC. Australia was on holiday. Ukraine tensions and speculation over gas supplies to Europe in case of escalated tensions with Russia weighing on sentiment. Yemen's Iran-aligned Houthi movement launched a missile attack on a UAE base hosting US military. IMF's growth downgrades highlighted the risks from slowing China momentum.
GE beat on earnings but missed on revenue, while AmEx provided upside support on solid earnings led by record credit card spending. MSFT beat expectations with $18.8bn profit. Treasury's $55 bln 5-yr auction was super strong. USOil up to $84.60 - API data shows US crude stocks fall, Biden threatens sanctions on Putin over any invasion, markets await Fed, US approves oil exchange from strategic reserve.
Today – Along with BoC and FOMC result, the earnings calendar is heavy, featuring several biggies including Tesla, Abbott Labs, Intel, AT&T.
