Today, the mood improved after Netflix announced overnight that it added more customers than anticipated in the fourth quarter and posted operating profit $200 million above expectations.

London's blue-chip index was up 0.3% this morning. Sentiment was further boosted after JPMorgan said it expects the UK GDP to contract by 0.1% this year, instead of the 0.3% contraction previously forecast.

However, new data shows that British retail sales volumes unexpectedly declined by 1% in monthly terms in December due to inflation, while the consensus was for a 0.5% rise.

 

Things to read today:

Oaktree’s Marks Sees End to Junk-Bond Rally With Defaults Rising (Bloomberg)

Netflix’s New Look Is Already Catching On (WSJ)

Treasury begins taking “extraordinary measures” as US hits debt ceiling (Financial Times)

BOE Governor Says “Corner has been turned” on UK Inflation (Bloomberg)