CONSUMER STAPLES: Woolworths: new 7.5y

• MNI: GERMANY FEB IFO BUSINESS CLIMATE INDEX 85.2

Initial headlines from Wunsch appear broadly in line with his rhetoric to the FT this morning.

• "*ECB's Wunsch: May Have to Lower Key Rate to Level That Stimulates Economy" DJ
• "*ECB's Wunsch: Might Have to Be 'A Bit Supportive' if Economic Weakness Persists" DJ
• "*ECB's Wunsch: Key Rate May No Longer Be Restrictive After Cut to 2.5%" DJ

Relevant excerpts from the FT article:

• "Wunsch pointed to mounting uncertainty over the appropriate level of interest rates, stressing that he was "not even sure" if rates were still at a level that was restricting growth and inflation".
• "Wunsch said he felt "relatively comfortable" with the market expectation of 2 per cent rates by the end of the year "give or take 50 basis points". He also said it was "even possible that we will go below 2 per cent" by then, depending on the wider economic environment, external shocks and price pressure".

•  Some early unwind in Europe, the Estoxx futures has fully pared the overnight gains to close its opening gap down to 5450.00, printed a 5448.00 low.
• Bund seems to be heading the same way, the opening gap for the contract, would be up to 132.60, ahead of the Initial resistance at 132.97.
• The Dollar is still in the red against G10s, but the Currency is paring losses, to edge towards flat on the Day, EURUSD is still up a small 0.19%.