Markets maintaining the positive risk tone this morning with Asian indices all well in the green (except China)...

Riskometer firmly set to ON

AstraZeneca's Two Dose Interval Shows 82% Efficacy

Great news from further trials of the Oxford AZN vaccine...

  • 82% effectiveness with a three-month gap between two shots
  • Single dose is 76% effective from 22- to up to 90-days post vaccination

The UK government took some stick for their 'controversial' decision to space the two shots further apart - now it looks like the longer gap between doses could actually be more effective...

Early findings also suggest that the vaccine may reduce transmission, meaning herd immunity could be achieved earlier.

Back to normal soon...?

ICYMI Yesterday - the early data from Israel looks encouraging too...

China PMI's - Growth Slows

Key Points:

  • Composite at 52.2 in January, down from 55.8 the previous month
  • Both supply and demand in the manufacturing and services sectors suffered marginal slowdowns
  • Labor market weakened, employment in manufacturing worse than services
  • Input costs reaching the highest level since October 2017
"Overall, the manufacturing and services industries continued to recover in January, but the momentum of both supply and demand weakened, dragged by subdued overseas demand" - Dr. Wang Zhe, Senior Economist at Caixin Insight Group

Diginex Enters into Strategic Partnership with GSR Markets

Excellent news for crypto traders!

As part of the strategic partnership, GSR will become a shareholder in Diginex and one of the main liquidity providers for EQUOS, Diginex’s crypto exchange.

Richard Byworth, CEO of Diginex, commented:

“As an exchange that avoids the conflict of interest of making markets against its own participants, the partnership with GSR is key to growing the depth and liquidity in all our trading pairs.
GSR are one of the largest market makers in crypto and crypto derivatives, so longer term the partnership will evolve more broadly into liquidity provision around key offerings like options, structured products and borrowing and lending.
“Since the launch of our BTC Perpetual product, we have seen a meaningful increase in activity on EQUOS, with overall volumes increasing over 2.5 times on an average daily basis, compared to December levels.
We anticipate that with GSR onboard and the additional depth they will bring to our books, we will continue to see volumes increase meaningfully as liquidity and spreads improve.”

Country's in a crisis... Who ya gonna call?


Nope - the hero Italy needs right now is Count Draghila

Cos he was sucking the life out of German savings with negative rates, geddit?

Super Mario is back to save the day as Italy's president calls on Draghi to save country from crisis

Italian President Sergio Mattarella looks set to ask former European Central Bank chief Mario Draghi to form a government of national unity to tackle the twin coronavirus and economic crises battering the country.
The head of state has summoned Draghi for talks on Wednesday at noon (1100 GMT) after hearing that efforts to salvage the collapsed coalition of Prime Minister Giuseppe Conte had failed.
“I have a duty to appeal to all political forces (to support) a high-profile government,” Mattarella told reporters, ruling out the only other possibility, early elections, as ill-advised given the array of challenges facing Italy.
Italy’s anti-establishment 5-Star Movement, the largest group in parliament, will not back a new government led by former ECB president Mario Draghi

Apple's $3.6 billion deal with Kia to build electric vehicles

Shares in Kia, an affiliate of Hyundai Motor Co, jumped as much as 14.5% to hit its highest since 1997 at 102,000 won, as local media report that the carmaker will sign a 4 trillion won ($3.59 billion) deal with Apple Inc to build electric vehicles...
South Korea’s online news outlet reported that Apple would invest $3.6 billion in Kia as they collaborate to produce Apple’s electric vehicles in Kia’s Georgia plant, without citing any sources. The report said the deal would be signed on Feb. 17.
Apple will aim to produce 100,000 vehicles annually by 2024 at the Kia plant, the report said, aiming to expand that annual capacity to 400,000 at a later stage.

No wonder Elon's gone into hiding...

Utrust are making crypto payments easy

Whether you want to receive crypto payments for your business or simply spend crypto on everyday items, Utrust is the solution for you...

Looking ahead, final PMI readings this morning are unlikely to reveal anything new.

EU inflation data is worth keeping an eye on, although Schnabel's comments last month suggest this is unlikely to have any impact on monetary policy.

ISM from the U.S. this afternoon - more fuel for the U.S. outperfomance narrative?

Lots of Fed speakers round out the day.