Daily Morning Call
From the Floor: Oil buyers undeterred by bearish reports — #SaxoStrats
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In spite of a fourth bearish report in a row, oil continued to be met with a wall of buying. Meanwhile, gold appears to be taking a breather from its meteoric rise over recent days.
- Despite the fourth bearish report in a row oil continued to find buyers
- Goldman Sachs anticipate oil inventory buildup will slow come March
- Gold is taking a breather having hit highs of $1,243 yesterday
- Significant rally in bonds on both sides of the Atlantic
- French sovereign spreads contracted as Le Pen remains significantly behind
- Investors still flocking to bunds amid Greek uncertainty and Dutch election nerves
- Royal Bank of New Zealand dovish last night leaving rates unchanged
- Nikkei down overnight ahead of Abe's meeting with Trump on Friday
More from the floor within the hour.