Here is what you need to know. Greece will reportedly ask for a loan extension. Time is of the essence as Greece's existing bailout program is scheduled to end on February 28. An agreement could buy as much as six months time. Meanwhile, Greek bond prices are up, with the three-year yield falling to 17.12%, down 112 basis points. Ukraine is withdrawing from the Debaltseve railway hub. A reported 80% of the city has fallen to pro-Russian separatists, putting the fragile cease-fire at risk. In the currency market, Russia's ruble is stronger by 1.2% at 62.50. The Bank of Japan kept policy on hold and raised its economic outlook. The central bank didn't increase its bold monetary stimulus even as inflation slipped further away from its 2% target. Notably, the central bank eliminated any mention of a tax increase from its statement. Japan's market didn't move much. The yen is holding at 119.25 per dollar. The UK jobs market is looking good. According to the new UK jobs report, wages jumped and the unemployment rate fell to 5.7%. The British pound is stronger on the news, up 0.5% at 1.5425. Swiss economic sentiment cratered. The Swiss ZEW Economic Expectations index fell to -73 (-10.8 previous) after the Swiss National Bank eliminated its EURCHF1.20 floor. EURCHF is down 0.1% at 1.0690. Inflation rates are easing all over the world. Malaysia (1.0% year-over-year actual versus 2.7% year-over-year expected) and South Africa (4.4% YoY actual versus 5.3% YoY expected) were the latest countries to see declines in inflation readings. Both readings hit multiyear lows and were largely affected by the drop in oil prices. Snapchat is attempting a fresh capital raise that would value the company at $19 billion. A Bloomberg report suggests the company is looking to raise $500 million in fresh capital. Sony is unveiling a new strategy. Reuters reports the strategy will "focus on niche markets where sales have been strong, such as the PlayStation video game network and the camera image sensors, while cutting back on loss-making products such as TVs and smartphones." Markets are bid around the world. Japan's Nikkei (up 1.2%) led Asian stock markets higher while strength in Europe's periphery has Greece's ASE (up 1.9%) and Italy's MIB (up 1.4%) out in front. Chinese markets were closed in celebration of Spring Festival. A boatload of data is due out in the US. Building permits, PPI, and housing starts are all due out at 8:30 a.m. ET, while industrial production and capacity utilization cross the wires at 9 a.m. ET and the latest FOMC minutes are scheduled for 2 p.m. ET. Read our preview of everything in the Monday Scouting Report.Join the conversation about this story » NOW WATCH: Nationwide's Super Bowl commercial about dead children is about corporate profits ... in a way that we can all appreciate
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