US stocks come into the new week riding their longest streak of daily declines this year, with the S&P having fallen for five consecutive sessions.
Following a rousing start to 2019, markets have paused to ponder slowing global growth, the prospect that a trade agreement between the Trump administration and China is not in fact a done deal and generalized questions about whether the YTD rally in risk assets has run too far, too fast.
The ECB's dovish pivot seems to have been counterproductive to the extent it "confirmed" growth worries and lackluster Chinese trade data for February followed by an expected hangover from January's surge in credit creation don't do anything to allay fears - neither does Friday's disappointing jobs number in the US.
Full docket stateside
We'll get Trump's budget this week which sets up another fight with lawmakers over wall money. The White House is looking for $8.6 billion in border barrier funding, despite having lost this battle less than a month ago.
In Bid To Pacify ‘Wacky Nut Jobs’, Trump To Start New Wall Fight With $8.6 Billion Ask
On the data front, they'll be plenty for market participants (and Fed officials) to dig
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