The gains in U.S. Treasury bonds narrowed after news broke that Iran had rejected the ceasefire agreement.

US Dollar: 1. US Media: US Department of Justice admits lack of evidence in investigation of Powell. 2. Goldman Sachs: If war with Iran impacts economic growth, the dollar's strength will subside. 3. Barclays: Raises its year-end 2026 target for the S&P 500 from 7400 to 7650. 4. ADP Weekly Employment Report: In the four weeks ending March 7, US private sector employment increased by an average of 10,000 per week. 5. Fed Governor Barr: Given that inflation is above target, interest rates may need to remain unchanged "for some time." 6. Fed Governor Goolsby: It's unclear whether further rate cuts are possible; it depends on the duration of the war. Euro: 1. ECB Governing Council Member Kazak: If inflation spreads from the energy sector, interest rates will need to be raised. Whether action is needed in April is unclear, but the situation could still worsen. Betting on two rate hikes seems reasonable; let's wait and see. 2. ECB Governing Council Member Sleipöm: There is indeed a risk of stagflation. The European Central Bank (ECB) remains highly vigilant about a potential second-round effect. 3. Market pricing indicates that traders have fully priced in three 25-basis-point rate hikes by the ECB this year. Pound Sterling: 1. Bank of England Chief Economist Peel: Ready to act to address inflationary pressures from the Middle East situation to achieve medium-term price stability. 2. Citigroup/YouGov survey: UK short-term and long-term inflation expectations rose to 5.4% and 4.5% respectively in March. Yen Yen: 1. Average monthly wages in Japan hit a record high for the fourth consecutive year. 2. Bank of Japan January meeting minutes: Committee members unanimously agreed that given the significantly low real interest rates, it would be appropriate for the Bank of Japan to continue raising interest rates if its outlook for economic activity and prices materializes. Other: 1. Turkey considers using $135 billion in gold reserves to defend the lira. 2. Market news: The Reserve Bank of India may sell dollars to ease pressure on the rupee. 3. The Central Bank of Chile kept its benchmark interest rate unchanged at 4.5%. 4. Swiss National Bank President: We are prepared to introduce negative interest rates, but the threshold for lowering rates to negative levels is now higher. The Middle East conflict may increase upward pressure on the Swiss franc. 5. Swiss National Bank Governing Council Member Tschudin: We emphasized last week that our willingness to intervene in the foreign exchange market has increased.

Philippine President: Our analysis shows that we will not encounter any problems with oil and petroleum products.