Economic Recovery in Europe - The German economy demonstrated unexpected resilience in February, with the HCOB Manufacturing PMI rising to 50.7 from 49.1 in January, marking the first expansion in nearly four years [2][9] - The broader Composite PMI increased to 53.1, driven by a robust services sector reaching a four-month high of 53.4 [2] - Investors reacted positively to the data, indicating that the European Central Bank's policy shifts are stabilizing industrial output, with the iShares MSCI Germany ETF (EWG) gaining attention as manufacturing output rose at its fastest rate since October 2025 [3] Middle East Diplomatic Developments - Iran and Egypt have fully restored diplomatic ties, ending decades of strained relations and leading to an immediate exchange of ambassadors, which is expected to de-escalate regional tensions [4][5][9] - This diplomatic thaw may lower the regional risk premium for oil, although the long-term impact on energy prices remains uncertain [5] U.S.-Saudi Nuclear Deal Concerns - A proposed civil nuclear pact between the U.S. and Saudi Arabia has raised proliferation concerns, as it reportedly lacks traditional non-proliferation safeguards, potentially allowing Saudi Arabia to enrich uranium domestically [6][7][9] - The deal is seen as a strategic move to reduce reliance on Russian uranium and strengthen Saudi Arabia's position within the U.S. security framework, with companies like Cameco (CCJ) and the Global X Uranium ETF (URA) being closely monitored [7] Hong Kong Labor Market Update - Hong Kong's unemployment rate increased to 3.9% for the November-January period, slightly above market expectations of 3.8%, reflecting ongoing pressures in specific sectors despite overall economic growth [10][11] - Total employment saw a marginal decrease, while the underemployment rate remained steady at 1.7% [10]