| Here's what my colleague, market strategist Mike "Willo" Wilson, says happened while we were sleeping… European and US stocks surged and yields rose on Friday as Germany came to agreement on their massive spending plans, while the US managed to avert another government shutdown. The kiwi and Aussie dollars climbed amid all the positive sentiment to finish near the week's highs. This leaves them well placed heading into New Zealand's fourth-quarter GDP print and Aussie jobs data on Thursday. Local stock indexes should trade higher too. Jerome Powell faces a tricky task this week of both assuring investors the economy remains on solid footing while also conveying policymakers stand ready to step in if necessary. The Fed is widely expected to leave interest rates steady when they meet March 18-19, but traders now see high odds of three rate cuts this year, most likely beginning in June. China will take steps to revive consumption by boosting people's incomes, the official Xinhua News Agency reported on Sunday, citing a statement from the State Council. Other measures include stabilizing the stock and real estate markets, and offering incentives to raise the country's birth rate, as the government tries to ease the deflationary pressures afflicting the economy. President Donald Trump may speak to Russian leader Vladimir Putin this week, White House special envoy Steve Witkoff said on Sunday, as the US pushes for a quick ceasefire to end the war in Ukraine. "I expect that there'll be a call with both presidents this week," Witkoff said on CNN's State of the Union. "And we're also continuing to engage and have conversation with the Ukrainians."  Steve Witkoff, US special envoy. Photographer: Al Drago/Bloomberg | 
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