Morning bid: Cooler US takes edginess off markets, UBS jumps

World markets have returned to levels of almost month ago as fears of an overheated U.S. economy abate even as corporate profit growth remains brisk.

What's more, the Fed's latest loan officers survey shows renewed weakening in demand for industrial loans and a decline in household demand for credit in the first quarter of the year. "Eventually we'll have rate cuts" but for now monetary policy is in a "very good place," he said on Monday. Japan's top currency diplomat Masato Kanda once again on Tuesday said Japan may have to take action against any disorderly, speculative-driven foreign exchange moves.

Elsewhere, UniCredit, Italy's second-largest bank, gained nearly 3% as it raised investor reward guidance for the year after posting a much higher-than-expected net income and further boosting capital levels.

Source: Financial Digest (financialdigest.net)

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