CHILE: Governemnt Issues Tsunami Warning in Far South After Earthquake

Bund block trade, suggest seller:

• RXM5 3.4k at 129.42.

Equity index futures are off lows and bonds are off highs after the U.S. cash equity open, JPY FX weakness also seen alongside those moves.

• While there hasn’t been much of a headline trigger across the major newswires, a Fox reporter has noted that “there is a TikTok deal on the table to create a new company, US majority owned short video app venture. But there's also last minute and continued concern by equity players who are raising the issue of being indemnified in perpetuity over the liability provisions in the TikTok ban law (massive if the courts and or president says there's a violation).”
• This news is probably feeding into the risk-positive price action, although it may not be the only driver.

• MNI: US FEB FACTORY ORDERS +0.6%; EX-TRANSPORT NEW ORDERS +0.4%
• US FEB DURABLE ORDERS +1.0%
• US FEB NONDEFENSE CAP GOODS ORDERS EX AIRCRAFT -0.2%