News 

Russia to detain US citizen Paul Whelan for three more months

“Last month, Russia rejected the theory that it is holding Whelan in order to bargain for a swap for Maria Butina” reports washingtonexaminer.com. The U.S. is holding Butina, who has pleaded guilty to trying to influence U.S. politicians.It wasn’t clear from Tass who extended the investigation, but Whelan was detained by Russia’s Federal Security Service.The investigation into Whelan’s activities was extended until May 28, his defense attorney Vladimir Zherebenkov told Tass, Russia’s state-owned news outlet. Source: washingtonexaminer.com

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JPY News 

USD/JPY stays underpinned, inches towards the 111 handle once again

“But for an extension higher, there needs to be a positive breakthrough in US-China trade talks” reports forexlive.com. The pair is inching upwards as risk sentiment is holding up well so far on the day.I reckon any breaking headlines on a memorandum of understanding being struck would see risk assets jump alongside USD/JPY. But the devil will be in the details.Price has tested support from the key hourly moving averages since trading yesterday and buyers have shown their commitment to defend that bias by holding on to support levels there. Source:…

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News 

Walmart ‘holding its own’ against Amazon ahead of earnings report

“Based on the firm’s data, Walmart surpassed Apple to become the No. 3 internet retailer, behind only Amazon and eBay” writes Lauren Thomas for cnbc.com. That’s something Amazon has largely been able to get away with, more than other retailers like Walmart and Target.Analysts are expecting Walmart to report adjusted earnings per share of $1.33 for the fiscal fourth quarter with sales of $138.7 billion, according to a poll by Refinitiv.Walmart is set to report quarterly earnings Tuesday morning before the bell. Source: cnbc.com

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News Regulators 

USD: US CPI: Nothing In It To Sway The Fed From Doing ‘Nothing’ For Now – CIBC

“Core price were up 0.2%, on expectations, with the 12 month rate holding at 2.2% (a tick above consensus)” writes Yohay’s Google Profile for forexcrunch.com. Nothing in this to sway the Fed from doing what its doing now, which is nothing at all on rates until the economy provides more evidence on how its holding up in 2019,” CIBC adds.Here is their view, courtesy of eFXdata: “By the magic of seasonal adjustment and methodology revisions, US CPI managed to be both a bit hotter and a bit cooler than expectations…

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News 

Catalans on trial: Why the EU doesn’t live up to its democratic values

“Despite holding democracy as one of its core values, the bloc’s reaction to the Catalonian calls for self-determination shows Brussels’ unwillingness to stand by this principle” writes Andrew Lilico for telegraph.co.uk. The trial of 12 Catalan separatist leaders for holding what Spain deemed an illegal referendum is underway in Madrid.Those accused of the most serious charges of rebellion could face up to 25 years in jail. Source: telegraph.co.uk

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Markets News Stocks 

Investors are hoarding their biggest piles of cash since the financial crisis — and Bank of America has a surprising take on what that means for the market’s future

“In February, fund managers reported the smallest overweight in equities since September 2016” writes Akin Oyedele for businessinsider.com. His conclusion is derived from the fund manager survey’s “cash rule.”. The BAML survey included fund managers who oversee a combined $515 billion in assets.According to Bank of America Merrill Lynch’s fund manager survey for February, the rotation into cash lifted traders’ overweight position to its highest level since the Great Recession in January 2009.After all, more cash means that investors have more dry powder to deploy when they spot an attractive…

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News Stocks 

Coty shares soar 19% after JAB Holding announces upcoming tender offer

“If the minimum 50 million shares are purchased, JAB would own about 47% of outstanding shares” writes Tonya Garcia for marketwatch.com. If JAB’s offer is accepted, the company will own about 60% of Coty shares.JAB says the offer price is about a 38% premium to the 90-day volume-weighted average share price as of Monday.Coty stock has plummeted more than 52% over the past year while the S&P 500 index SPX, +0.07% is up 2% for the period. Source: marketwatch.com

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Markets News Stocks 

Gold eases as dollar climbs, with U.S.-China trade talks holding market’s attention

“Gold prices retreated Monday as a leading dollar index hovered near more than one-month highs, cutting demand for investors buying precious metals using other currencies” writes Rachel Koning Beals for marketwatch.com. Investors are looking ahead to trade talks this week with a delegation of U.S. officials traveling to China for the next round.Riskier markets, including U.S. stocks, headed higher on cautious optimism for the next round of U.S.-China trade negotiations resuming this week, limiting but hardly eliminating the appeal of haven assets, including gold.In other metals trade, March silver SIH9,…

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News 

Group Stopped Attempted Rape Of Teenager And Held Suspect Until Police Arrived

“They stopped the attack and chased the suspect, holding him until he was arrested by police” writes unknown author for huffingtonpost.com. The men disturbed the attacker as he allegedly tried to rape the teenager on Friday night in a car park in Ashton-under-Lyne, Greater Manchester. Officers have appealed for anyone else who may have witnessed the attack to get in touch on 0161 856 8915 or alternatively call 101 quoting the reference number 2314 of 01/02/19 or Crimestoppers anonymously on 0800 555 111. Source: huffingtonpost.com

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News 

South Korea’s Netmarble to form consortium for Nexon holding company bid

“Both Netmarble Corp and Kakao Corp are backed by Tencent Holdings Ltd and, according to sources, the Chinese tech giant too is considering a bid” writes Midwest Communications Inc for 95kqds.com. The world’s largest gaming company by revenue was hit hard by a freeze on approvals for new titles in China last year, which wiped billions of dollars off its market value.SEOUL (Reuters) – South Korean gaming firm Netmarble said it will form a consortium to bid for a controlling stake in Nexon’s holding company, the latest to show interest…

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