By Research Team, 1130: Today'sGerman bond auction has seen narrowing spreads, but has fallen shyof the target amount. Continuing with the Greek saga, a senior EUdiplomat has said further talks on Greek bond swap will be held inWednesday's EU teleconferance summit. 0930: TheIMF's Lagarde hassaid she will ask the IMF board to approve a new loan plan toGreece to the tune of EUR 28bln over four years. A vote is plannedfor March 15th. The loan is meant to compliment Greek ability topay its new debt restrucuring agreement with Europe. Meanwhile, Germanwholesale price index came out as expected, while Italian GDPnumbers were slightly above expectations on a year-over-year basis(-0.4% vs. -0.5% expected). Eleswhere, the German FinMin Schaeuble hassaid that deficit spending wrong way to boost economic growth andthat advocates of this strategy have "learned nothing" if theyadvocate growth-inducing measures without budget consolidation. 0730: The newweeks opns with risk-correlated, high-yielding currenciesstruggling to regain losses versus safe haven alternatives. Risksentiment was not helped by during today's Asians session by newsChina's trade balance plunged in Feburary. Meanwhile, Japanesemachine orders rose sharply on the months, and consumer confidenceheld steady. Today is expected to be a light session on theEuropean data front, but stay tuned for Italian GDP numbers laterin the day abd we will let you know if we see any marketdevelopments.
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