Market Flash;Market Up

Breakfast Bites: US Markets are trading higher this morning taking their cues from Europe as there is overwhelming optimism that the Greek debt swap will be completed successfully. Indications are that investors holding 60% of Greek government bonds eligible for swap, have indicated they will take part

  • Challenger Job cuts increased by 2% from a year earlier

  • The number of Americans filing claims for jobless benefits rose to 362,000 last week, a level consistent with an improving labor market

  • The Bloomberg Consumer Comfort Index was -37.6 in the period ending March 4th, the highest since 2008

  • The European Central Bank and Bank of England left key lending rates unchanged, as was widely expected.

  • Greek officials said this morning that the percentage of debt holders willing to accept the current debt swap deal is very high ahead of the 3PM deadline

  • Germany’s Industrial Output increased 1.6%, more than forecast in January

  • Japan’s GDP shrank an annualized 0.7% in the 4th quarter compared with an earlier estimate for a 2.3% contraction.