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 Good morning. Here's what you need to know. - Overnight trading started the day off strong in Asia, with Japan's Nikkei up 1.7 percent. Meanwhile, European shares have been flat this morning, and U.S. futures point to a mixed open.
- 85.5 percent of Greek bondholders have agreed to participate in a bond swap with the government. Greek officials say they will now trigger the collective action clause forcing bondholders to forgive €100 billion in debt. Debt holders are expected to take write downs of 74 percent. Click here to read what Nouriel Roubini thinks about the haircut >
- Chinese consumer prices increased at the slowest pace in 20 months, data from the National Bureau of Statistics shows. CPI moved 3.2 percent higher in February against year-ago levels. Producer prices were flat during the month, against expectations for a 0.1 percent increase. The biggest China bull explains why a hard landing doesn't scare him.
- German exports rebounded at a faster rate than expected in January, gaining 2.3 percent from December to €88.7 billion, or $117.7 billion. Economists had forecast a 2.0 percent increase. Imports to the country accelerated at a greater pace, growing 2.4 percent to €74.5 billion.
- British industrial production unexpectedly fell 0.4 percent in January, while Italian output declined 2.5 percent during the same period, new data shows. Analysts had forecast a 0.2 percent gain in the U.K. and 0.8 percent drop in Italy, during the month.
- An amendment that would have combined the Keystone oil pipeline with a transportation bill making its way through the Senate was blocked by Democrats. Republicans had attempted to speed regulatory approval of TransCanada's $7 billion project by tying it with the larger funding proposal. The vote, which needed 60 votes to advance, was four votes shy.
- Starbucks will begin selling single-cup coffee brewing makers, entering direct competition with former partner Green Mountain Coffee. Shares in Green Mountain plunged 24 percent after the announcement in after-hours trading. The Keurig manufacturer's main patents are set to expire shortly, putting the company's revenue stream in question. These are the six reasons Whitney Tilson is short Green Mountain.
- U.S. announcements kick off at 8:30 a.m. EST, with the February jobs report. Economists expect total nonfarm payrolls to expand by 210,000, with private payrolls up 225,000. The unemployment rate is forecast to remain at 8.3 percent. Follow the announcement live on Money Game.
- Bank of America has agreed to let more than 200,000 mortgage holders in difficulty substantially reduce their balances, the Wall Street Journal's Ruth Simon and Nick Timiraos report. The deal could allow the firm to sidestep part of the $850 million in penalties recently levied by the U.S. government, and includes deeper cuts than other banks have made.
- Texas Instruments cut its first quarter guidance yesterday after the bell, citing weakness in its wireless unit. Revenue is now expected in a range of $2.99 to $3.11 billion, below Wall Street projections of $3.16 billion. Earnings per share was cut from $0.16 to $0.24, to $0.15 to $0.19.
Bonus: Eva Longoria and Eduardo Cruz have ended their year-long relationship, sources tell People Magazine.  |  |  | | | | BI Intelligence ia a new subscription research service that provides real–time insight, information, and analysis of the Internet industry. Subscribe now and you'll get briefs, notes, interviews, and in–depth reports, as well as a library of charts and data that will help you stay on top of key trends and dynamics. | | | Try it free for four weeks. Click here to sign up. | | Please follow Money Game on Twitter and Facebook. | | | | | | | |
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