OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM18 +0.27%) this morning are up +0.33% at a 1-1/4 month high on positive carry-over from last Friday’s stronger-than-expected U.S. Fed jobs report. European stocks are up +0.52% at a 1-1/2 week high on gains in U.S. stocks along with upbeat comments from ECB Executive Board member Coeure who said Eurozone growth “is strong and well distributed, and now reaches all regions and sectors.” Asian stocks settled higher: Japan +1.65%, Hong Kong +1.93%, China +0.59%, Taiwan+1.26%, Australia +0.55%, Singapore +1.57%, South Korea +0.95%, India +1.83%. China’s Shanghai Composite rose to a 2-week high and Japan’s Nikkei Stock Index posted a 1-1/2 week high as Asian markets rallied on optimism strength in the U.S. economy will benefit Asian exporters as last Friday’s jobs report showed the U.S. labor market continued to strengthen without faster wage inflation.

The dollar index (DXY00 +0.08%) is down -0.01%. EUR/USD (^EURUSD) is up +0.01%. USD/JPY (^USDJPY) is down -0.27%.

Jun 10-year T-note prices (ZNM18 -0.04%) are down -2.5 ticks.

ECB Executive Board member Coeure said Eurozone growth “is strong and well distributed, and now reaches all regions and sectors,” but is still too dependent on monetary policy. He added “inflation is not yet where we want it” and interest rates “will remain low long after the end of our asset purchases.”

The Japan Q1 BSI all-industry business conditions fell -2.9 to 3.3. The Q1 BSI large manufacturing business conditions fell -6.8 to 2.9l.

The Japan Feb machine tool orders rose +39.5% y/y, the fifteenth straight month orders have increased.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) USDA weekly grain export inspections, (2) Treasury auctions $28 billion of 3-year T-notes and $21 billion of 10-year T-notes, (3) Feb monthly budget statement expected -$216.0 billion, Jan +$49.2 billion.