Stocks were broadly higher in Asia. Shanghai was up about one and a third percent, Australia and the Heng Seng were both up about 1.2% and the Nikkei added one percent. Europe is also up on the day, with the Dax up about 0.6% and the Footsie about a half percent better. US stock futures are up a slight fraction on the day as I write. *The February reading of UK house prices were down 0.9% on a month on month basis and -2.8% for the last three months annualized, according to Halifax; both results were down more than forecast.
*The February reading of the Employment Situation is due out at 7:30am CST. The Unemployment Rate is expected to rise one tenth on the month to 9.1%; total Non-farm Payrolls are forecast to gain 196k and the estimate for the private sector Payrolls is +200k. The forecast for the Average Hourly Earnings is +0.2% month on month and is figured to be +1.9% annualized. The Average Work Week is expected to come in one tenth more at 34.3 hours. The January reading of Factory Orders is due out at 9:00am CST, it is expected to be +2.0% month on month.
*Fed Vice Chairperson Yellen is set to speak in Paris at 9:00am CST, the topic is “Improving the International Monetary and Financial System”.
*The Fed is scheduled to buy TIPS that are due to mature between 4/15/13 and 2/15/41; the results of the operation will be announced just after 10:00am CST.
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