Global Markets Rally as Central Banks Hold Steady

The Nikkei hits a 34-year peak, benefiting from the "anywhere-but-China" bid and structural underweighting, while Chinese stocks struggle as the central bank avoids further stimulus to stabilize the yuan. The Bank of Japan is expected to maintain its easy policy, while the ECB, Bank of Canada, and Norges Bank meetings have no expectations of change. Odds on a Federal Reserve cut in March are 50-50, and U.S. GDP and core PCE price index reports could impact the equation. Earnings from companies like Intel, IBM, Tesla, Netflix, and Lockheed Martin are anticipated, with a focus on booming demand for high-end chips.