Brazil’s central bank: Soft inside Buy: Expand into water environment business; FY15 in line US Daily Economic Notes: What you need to know for the week ahead Hold: Too early to get excited Buy: 4Q15 dominated by one-offs China: January new loans and TSF surged to new record high; accommodative credit conditions since 2H15 to continue Asia Pacific Strategy Dashboards Volatility fuels flight to safety Trade deficit narrows sharply; allow for modest depreciation in rupee EM Vulnerability Monitor: Fallout from commodities and China