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Morning Brief


European stocks were seen opening broadly flat on Monday, as holders of credit default swaps on Greek debt look set to get billions of euros in compensation following the restructuring of the country’ bonds.

Asian stocks fell for the first time in three days, commodities slid and the yuan weakened after Chinese exports grew at a slower pace than forecast.

Stocks ended modestly higher Friday, capping a mixed week for the major indexes. The Dow Jones industrial average eased slightly over the last five trading days. The S&P 500 and the Nasdaq edged up modestly last week.

Events Today

Among economic data of interest, Italy gross domestic product data for the fourth quarter of last year will be released at 9 a.m. London time. February’ long-term interest rates statistics for the European Union will also be released at 9 a.m.

Germany will auction 4 billion euros in six-month Treasury bills at 10:30 a.m. London time and at 1:50 p.m., France will hold a weekly T-bill auction seeking to raise around 8 billion euros in short-term debt.