Summary

• EM x/ Turkey & India bond yields lower
• U.S. 10-year yield up 9 bps on the month
• U.S. 10 minus 2-year spread 5 bps steeper
• U.S. credit spreads in big
• Euro periphery x/ Italy tighter on the month
• EM FX x/Asia weaker
• Cable continues to rally
• China stocks up yuuuuge. Shanghai rallies 13.79 percent in February
• Russell leading U.S. stocks higher, up 5.08 percent
• Commodities bid, led by Iron Ore and Crude.
• Wheat getting crushed on lack of demand for U.S. exports.

Foreign Demand For U.S. Wheat Drying Up