Headlines Feb 23

Metals
Copper Rose To The Highest Level In Over Nine Years As A Rally In Industrial Metals Showed Little Sign Of Abating Amid A Global Recovery From The Pandemic
China’s Copper Fabricators Slow Output as Costs Jump, SMM Says
Philippines Says 2020 Nickel Ore Output Up 4% On China Demand
Gold Climbs Third Day With Powell’s Testimony in Focus
OPEC Supply Set To Drop 300,000 B/D In Feb.: Petro-Logistics
Rio Tinto: Jefferies Raises Target Price To 7500p From 6700p
Glencore: Jefferies Raises Target Price To 450p From 350p

Oil
Oil Climbs Toward $63 With Tightening Market Boosting Outlook
Texas Refiners Rush to Fix Leaks, Burst Pipes Plaguing Restarts
ICE Brent Crude Oil Open Interest Jumps to a Record
Brent Oil’s Prompt Timespread Climbs to $1/Bbl in Backcwardation
Asia Fuel Flows to U.S. Jump With Freeze Hobbling Refineries
Colombia’s Heavy Oil Rebounds on U.S. Driving Season, Vaccine
Shale Drillers Lost Thousands of Barrels of Crude to Deep Freeze
Nigeria’s NNPC Extends Oil-for-Fuel Swap Contracts: Reuters
JPMorgan: Oil Demand To Return To 100Mln B/D By End Of The Year
Goldman Sachs Raises 2021 WTI Forecast To $66.00 From $58.50, And Raises 2022 WTI Forecast To $67.00 From $62.00
Events & Synopsis
Japan Seen Ending Virus Emergency Early Outside Tokyo Region
EasyJet Ticket Sales Surge as U.K. Plan Boosts Summer Hopes
Toyota To Halt 5 Lines At 4 Japan Plants Wed. On Parts Shortage
U.S Futures Down; Commodities & Bond Yields Hammering Tech Shares
BMW CEO Doubts Tesla Can Keep Up Growth as Industry Responds
Commodities Hit Highest Since 2013 Amid Inflation Concern
HSBC Flags $6 Billion Investment in Asia After Profit Beat
Shopify Prices Share Offering At $1315/Share
Facebook Ends Australia News Blackout After Law Compromise
Arrival of Hongkongers Fails to Stem London’s Posh Home Slide
Bitcoin Slumps Below $50,000 as Caution Sweeps Over Crypto Rally
Ex-Privatbank CEO Named as Suspect in $5.5 Billion Fraud Case
Sunak Plans More Covid Aid for U.K. as Unemployment Climbs
VW’s Traton Confident It Will Close Navistar Deal by Mid-2021
Brexit Border Friction Boosts Shipping Costs From France to U.K
BlackRock Strategists Debut OW Call on U.K. Stocks, Lift Europe
U.K. Unemployment Rate Rises to Highest in Almost Five Years
China Must Reform Hong Kong Election Rules - Carrie Lam


Coca-Cola European Cut to Sell at SocGen; PT $47.45
Dish Cut to Hold at Pivotal; PT $34
Qualtrics International Rated New Overweight at JPMorgan; PT $55
Starbucks Raised to Outperform at BMO; PT $120
Trinity Capital Rated New Outperform at KBW; PT $17.50
Home Point Capital Rated New Overweight at JPMorgan; PT $16
Texas Instruments Raised to Outperform at Raymond James; PT $220
Discovery Inc: Credit Suisse Raises Target Price To $61 From $41




Forex

Powell to deliver semi-annual monetary policy report; U.S. data include Richmond Fed index, FHFA house price index, S&P CS composite-20 and Conference Board consumer confidence; U.S. sells bills, CMBs and 2-year notes  ( TO WATCH)
BoK Lee: US-China Trade Dispute May Continue Under Biden
Treasuries Steadied Ahead Of Fed Chairman Powell’s Testimony While European Government Bonds Sold Off. The Pound Advanced, Boosted By The U.K. Government’s Road Map To Lift Coronavirus Restrictions
The dollar advanced against most G-10 peers, with traders waiting to see if Powell will address the selloff in Treasuries
The Canadian dollar outperformed most peers as oil prices continued their ascent
The pound led G-10 gains, nearing $1.41 as investors digested the U.K.’s plan to open up the economy