POLAND: President & Gov't Spokesperson Suggest Poland Is Looking Into Drafting FX-Loan Bill
Poland considers preparing new legislative solutions on CHF mortgages as it awaits the final verdict of the EU top court on the matter, PAP newswire reports citing government spokesperson Piotr Muller who gave an interview to RMF FM radio station. Separately, President Andrzej Duda said that some early work on the draft law is currently being done at various institutions.
- "Banks now understand that it's worth striking settlements [with CHF borrowers] and the number of settlements have increased significantly recently but we do not exclude any legislative solutions in this respect," Muller told RMF FM.
- Duda noted that different institutions are working on legislation that could help break the legal deadlock over the controversial CHF loans. While his office is not involved in the process, he will likely soon hold meetings to discss the matter.
- An advisor to the Court of Justice of the European Union (CJEU) last month gave a legal opinion in favour of borrowers in a case that a local financial watchdog said could cost the banking sector around PLN100bn. These opinions are usually indicative of the final verdict.
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US TSYS: What to Watch: ADP, ISMs Ahead Afternoon FOMC
Tsys firmer, off overnight's highs for the week where 30YY tapped 3.5903% low, yield curves flatter (2s10s -1.774a t -71.615) as mkt awaits first FOMC policy annc of 2023 at 1400ET followed by press conference with Chairman Powell at 1430ET (next Summary of Economic Projections at the Mar 21-22 FOMC).
- Data kicks off at 0815ET w/ ADP Employment Change (235k, 180k)
- S&P Global US Manufacturing PMI (46.8, 46.8) at 0945ET, followed by
- ISM Employment (50.8 rev, --); New Orders (45.1 rev, --) at 1000ET
- ISM Manufacturing (48.4, 48.0); Prices Paid (39.4, 40.4), 1000ET
- Construction Spending MoM (0.2%, +0.0%), 1000ET
- JOLTS Job Openings (10.458M, 10.300M), 1000ET
- Tsy auction: $36B 17W bills at 1130ET
- Equity earnings: Old Dominion Freight Line (ODFL; $2.92 EPS), Johnson Controls (JCI; $0.67 EPS), Boston Scientific (BSX; $0.45 EPS), Peleton (PTON; -$0.66 EPS), Thermo Fisher (TMO; $5.40 EPS), AmerisourceBergen (ABC; $2.71 EPS), Humana (HUM; $1.62 EPS), Altria Grp (MO; $1.18 EPS), T-Mobile (TMIS; $1.12 est).
- After the close: Allstate (ALL; -$1.36 est), Murphy USA (MUSA; $6.36 est); MetLife (MET; $1.64 est), META ($2.26 est), McKesson (MCK; $6.35 est),
EQUITIES: Post-Earnings, Pre-Market Movers
- Stryker +4.4%
- Advanced Micro Devices +3.6%
- Mondelez: +1.6%
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- T-Mobile US -0.5%
- Amgen: -1%
- Boston Scientific -1.6%
- Electronic Arts: -11%
Still to come after-market today: Meta Platforms
Full schedule including timings, EPS & revenue expectations here: https://roar-assets-auto.rbl.ms/files/50900/MNIUSE...
