United Kingdom Public Sector Net Borrowing missed expectations £8.55 in February: Actual £7.478

Markets continue to worry about China's economic slowdown, which gradually becomes more and more evident. On Thursday reports emerged of a possible default in the steel industry as a producer from Shanxi province failed to meet payments on a 3 billion yuan loan. A bailout might be provided, but as Michael Every from Rabobank suggests “we can expect that 'China default' story to run and run in 2014.”