Bank Fears Are Back

Deutsche Bank shares fell 8% in Frankfurt on Friday as fears about the health of big banks revived

Deutsche Bank credit default swaps blowing out

Sea of RED

• Hong Kong: Hang Seng closes down 0.67%
• China CSI 300   -0.30%
• Taiwan KOSPI  -0.39%
• India Nifty 50   -0.83%%
• Australia ASX   -0.72%
• Japan Nikkei  -0.69%
• All European bourses a sea of red
• US indices in negative territory so far this morning in pre-market, USD +0.68%

Overnight Data/News

• Flash Australia Judo Bank Composite PMI (Mar): 48.1 vs prev 50.6 Flash Australia Judo Bank Manufacturing PMI (Mar): 48.7 vs prev 50.5 Flash Australia Judo Bank Services Mfg PMI (Mar): 48.2 vs prev 50.7
• Japan National CPI y/y Ex Fresh Food (Feb): 3.1% vs est. 3.1%, prev 4.2% Japan National CPI Ex Fresh Food, Energy (Feb): 3.5% vs est. 3.4%, prev 3.2% Japan National CPI y/y (Feb): 3.3% vs est. 3.3%, prev 4.3%
• Flash Japan Jinbun Bank Composite PMI (Mar): 51.9 vs prev 51.1 Flash Japan Jinbun Bank Manufacturing PMI (Mar): 48.6 vs prev 47.7 Flash Japan Jinbun Bank Services Mfg PMI (Mar): 54.2 vs prev 54.0
• UK Retail Sales (M/M) Feb: 1.2% (exp 0.2%; prevR 0.9%) – Retail Sales Ex Auto Fuel (M/M) Feb: 1.5% (exp 0.2%; prevR 0.9%) – Retail Sales (Y/Y) Feb: -3.5% (exp -4.7%; prevR -5.2%) – Retail Sales Ex Auto Fuel (Y/Y) Feb: -3.3% (exp -4.8%; prevR -5.4%)
• Swedish PMI (Y/Y) Feb: 9.3% (prev 11.8%) – PMI (M/M) Feb: -1.0% (prev -5.2%)
• Spanish GDP (Q/Q) Q4 F: 0.2% (exp 0.2%; prev 0.2%) – GDP (Y/Y) Q4 F: 2.6% (exp 2.7%; prev 2.7%)
• French S&P Global France Manufacturing PMI Mar P: 47.7 (exp 48.0; prev 47.4) – French S&P Global France Services PMI Mar P: 55.5 (exp 52.5; prev 53.1) – French S&P Global France Composite PMI Mar P: 54.0 (exp 51.5; prev 51.7)
• German S&P Global/BME Germany Manufacturing PMI Mar P: 44.4 (exp 47.0; prev 46.3) – German S&P Global/BME Germany Services PMI Mar P: 53.9 (exp 51.0; prev 50.9) – German S&P Global/BME Germany Composite PMI Mar P: 52.6 (exp 51.0; prev 50.7)
• Eurozone S&P Global Eurozone Manufacturing PMI Mar P: 47.1 (exp 49.0; prev 48.5) – Eurozone S&P Global Eurozone Services PMI Mar P: 55.6 (exp 52.5; prev 52.7) – Eurozone S&P Global Eurozone Composite PMI Mar P: 54.1 (exp 52.0; prev 52.0)
• UK S&P Global/CIPS UK Manufacturing PMI Mar P: 48.0 (exp 49.7; prev 49.3) – UK S&P Global/CIPS UK Services PMI Mar P: 52.8 (exp 53.0; prev 53.5) – UK S&P Global/CIPS UK Composite PMI Mar P: 52.2 (exp 52.7; prev 53.1)
• Fed Discount Window Loans Jump To $110.2B In Week To March 22 (prev $152.9B) – Banks Borrowed $53.7B From New Loan Facility (prev $11.9B) – Banks Total Borrowing At $163.9B From Fed Facilities (prev $164.8B) – B/Sheet At $8.784T (prev $8.689T)

USD DATA TODAY