* China amended constitution allowing President Xi to rule for life.
* CFTC Speculative shorts in US Treasury futures increase across the board with 5y net shorts rising to record high.
* Stock market recovery continues in late NY and Asia with Nikkei +1.7%,Hang Seng +1.7% and the ASX +0.6%.
* Merkel and Macron will not present their common German/French reform plans at the EU summit on 22 March because Germany is not ready yet, Spiegel quotes EU sources.
* Incoming German health minister Spahn rejects euro finance minister.
* EU wants to set up labour agency in 2019.
* ECB staff assumes mid-2019 rate hike in projections (Reuters sources).
* ECB Lane is said to become chief economist, not ECB President (Times).
* Fed Rosengren (hawk) said Fed should consider more than 3 hikes this year amid fiscal stimulus.
* Fed Bullard (dove) warned 4 hikes could put downward pressure on inflation as balance sheet unwind is becoming “more and more forceful”.
* Fed Evens (dove) sees merit in waiting just a little longer with next hike to see if inflation picks up. He said the labour market is “vibrant“ and now is a good time for Fed to review inflation target.
* BIS says central banks “need not fear volatility” and should stay on path of policy normalisation.
* BIS : China, Canada and HK are most at risk of banking crisis (Q. Review).
* US Pres Trump threatened again with car tariffs against EU, which needs to “drop their horrific barriers and tariffs”.
* EU did not get clarity on procedure for exemption, talks to continue this week.
* Macron told Trump EU will react “clearly and proportionately”.
* Germany and China reiterated tariff moves threaten global trade.
* Italy publishes 2017 hopusehold Income and wealth today at 2pm, and just the US monthly Budget statement at 6pm.