A surge of positive economic data has Federal Reserve officials speaking and markets pricing a 25 basis point increase in the Federal Funds Rate target at the next policy meeting.  Last week market expectation of a March hike was a growing 26%, in this week alone the probability has more than tripled to 79.7% priced by CME Fed Fund futures.

The European Union reported inflation increasing at a rate of 2% year over year in February, the fastest pace since 2013 and climbing to the economic union’s target.  Further, producer prices grew over the median estimate in January and unemployment remained unchanged at 9.6%.  The French independent, presidential candidate is rising in polls.

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