The yen surged to a two-week high against the dollar on Wednesday

Good Morning,

- German Bund yields hit 1,00% for the first time since September 2014.

- The yen surged to a two-week high against the dollar on Wednesday after the head of the Bank of Japan said the currency was unlikely to fall further because it was already "very weak", prompting investors to trim huge bets against it. Analysts said the comments from Kuroda may slow further declines in the yen and suggested Japan may have started the long process of preparing the market for a time when its economy will need less monetary stimulus.

- "If the Bank of Japan does not feel the yen should weaken further, that should reduce expectations for policy easing," said currency strategist Brian Daingerfield at RBS Securities. But an official answer about Kuroda's comments came from mr. Amari who stated that "Kuroda's comments might be distorted from what he meant".

- The Standard & Poor’s 500 Index this year is trading in the smallest range since at least 1995, with the 2015 low only 6.5 percent below its year-to-date high. The same is true for individual companies in the benchmark gauge. Stocks in the S&P 500 have moved in an average range of 18 percent from highs to lows, also the narrowest in two decades. The S&P 500 has climbed just 1 percent in 2015 after double-digit surges in each of the last three years. Investor sentiment has also been dictated by corporate earnings and global headlines, according to JC O’Hara of FBN Securities Inc.

- German Bund yields hit 1,00% for the first time since September 2014, as investors digest a generally stronger tone in European economic data. A perception that inflation is likely to pick up in the months ahead has prompted market participants to reassess their outlook for ultra-low government bond yields in Europe. The benchmark 10-year Bund yield , which moves in the opposite direction to the price, pushed above the 1 percent mark in early European trade and last stood at 1.015%.

- Wall Street got a breath of fresh air today, as the Dow Jones Industrial Average (DJIA) ended its losing streak in dramatic fashion. The blue-chip index exploded for a triple-digit win and took back 18,000, albeit barely, mainly thanks to promising developments from overseas and a rally in tech, financial, and energy stocks. In fact, all 30 Dow components

- Crude oil prices are on fire after several key moves: bullish data from the American Petroleum Institute (API), talk of more stimulus in China and hopes for a Greece bailout deal. The API reported a massive 6.7 million barrel oil draw raising questions about pace of U.S. shale oil output as U.S. oil rigs continue to drop and oil demand seems to be rising.

- New Zealand's RBNZ reduced the official rate to 3,25% and says that futher easing may be appropriate. RBNZ says that NZD remains overvalued and further significant adjustment justified. NZD/USD falls at a new 12 months low after the announcement.

- S&P lowers Greece's credit rating to CCC from CCC+. S&P comments that Greece's outlook is negative given the risk of a further worsening of liquidity for the sovereign, it's banks and the economy. S&P expects that Greece will default on its debt in the next 12 months.

Have a nice Day !