* US Treasuries sold -off in NY amid risk-on on more balanced message on trade policy and remained on their lows in Asia
* Nikkei +1.8%, Hang Seng +2.4% and the ASX _+1.1%.
* RBA left rates unch as expected saying the low level of interest rates is continuing to support the economy, further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual. Household consumption remains a source of uncertainty.
* US Eco advisor Cohn is arranging White House meeting with executives exposed to tariffs for later this week.
* House speaker Ryan is ‘extremely worried about trade war’, Trump responds that he is “not backing down”.
* Latest NAFTA talks said to end without trilateral statement as in previous rounds, Reuters reports.
* SF Fed economic letter says prediction power of US yield curve for economic activity appears intact with every recession of the past 60 years preceded by an inverted curve. Notes ‘somewhat special’ situation at present.
* BoJ Kuroda says 2% CPI target is still very distant in upper house confirmation hearing. Inflation has been somewhat weak and official forecast entails downside risks. Discussing specifics of exit strategy now would confuse markets.
* UK BRC like-for-like sales rise 0.6%yy in Feb,0.5%e .
* EU Barnier advisor says transition phase can only be secured at the end of negotiations.
* Italian monthly statement at 9am, EU Retail pmi’s at 9.10am with BoE Haldane talking at 6.15pm.
* US factory orders at 3pm along with Durables and Feds Dudley talks at 12.30pm