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Friday Morning Recap: Options Expiration Day – Morning Notes

- BOJ rate decision out last night- left unch’d at 0.1%
- Recall: BOJ commenced a two day meeting yesterday and there was no mention of expanding Japan’s asset buying program
- Nikkei closed down small, 10bps
- Hang Seng closed up 20bps while Shanghai closed unch’d
- In Europe, bourses saw early strength and all major indices were in the green
- German PPI came in higher than expectations
- Reports out in Germany that Bundesbank warned German economy may lose some momentum after a strong first quarter
- Other reports out that ECB is concerned about its balance sheet and that Spain may have hidden debt
- Commodities started off strong, relatively quiet
- Dollar up small; euro is weak
- S&P futures trading lower, down 3.5 handles from FV in the premarket
- Note that today is options expiration; may see some volatility as a result