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3 Numbers: Central bankers speak, US GDP, US consumer sentiment
Today’s data calendar is light, and geopolitics, oil and Greece will likely dominate the markets until the next US employment report on April 3. A potential surprise today could be the smaller credit rating agency DBRS – it could downgrade Italy’s sovereign credit rating, which would cut 5% off the value of the bonds placed as collateral to the European Central Bank. The spreads between Italian and Spanish bond yields against German bond yields have moved hand-in-hand during the Greek crisis, so markets might be caught off-guard if a downgrade comes after the close of the day’s trading. For other possible ... (full story)