All the latest economic and financial news, including February’s US unemployment report and Greek bailout developments Nikkei hits highest level since April 2000The Agenda: It’s non-farm payroll day 8.05am GMT The QE effect is also pushing up the value of debt issued by Spain, Portugal and Italy to record highs.This is pushing down the yield (interest rate) on all three country’s debts to new lows, as investors anticipate the arrival of the ECB’s stimulus programme.Peripheral Bond yields make fresh Euro-Era lows ahead of ECB QE. 10yr Portugal ylds at 1.7%, Spain 1.24%, Italy 1.26% pic.twitter.com/irTJs0m5YxThe fact the bank is prepared to buy bonds with yields as low as negative 20 basis points increases its scope (or the actual ability) to buy €60 billion a month in assets, especially as 32% of all outstanding bonds have a negative yield now. 7.51am GMT The news that the eurozone is, finally, joining the quantitative easing party has helped to drive shares in Japan to a 15-year high.The Nikkei jumped 1.2% or 291 points to 18,971, the best closing level since April 2000. The ECB announcement did not contain anything that should have surprised investors, but with the mood still extremely equity friendly, it triggered another rally for Eurozone indices. 7.49am GMT Good morning, and welcome to our rolling coverage of world economy, the financial markets, the eurozone and business.America’s labour market recovery puts Europe to shame. And we’ll get another reminder of that today, with the latest Non-Farm Payroll report (at 1.30pm GMT).#Greece PM Tsipras to meet w BoG Stournaras in abt an hour, in order to be informed re the yesterday's ECB meeting (via @capitalgr ) Continue reading...
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