Treasuries rose, pushing 10-year yields down from almost the highest levels since January, amid speculation that a report tomorrow forecast to show faster U.S. employment growth drove the market down too much.
The Philippine peso’s failure to strengthen in the face of data showing a widening current- account surplus and an upgraded credit rating has stoked concern that imports are being underreported due to smuggling.
Mexico posted a surprise trade deficit in January, the widest since October 2008, as exports fell, signaling that the economy is struggling to rebound from the lowest growth in four years. The peso extended its decline.
The U.S. trade deficit in 2013 was the smallest since 2009, even as it ticked up at year’s end, as rising fuel exports and falling imports propelled the world’s biggest economy further toward energy independence.