A victim of its own actions, yields on Japanese debt have been pinned near zero ever since the Bank of Japan embarked on its aggressive bond buying program. Europe isn’t much of an option too, as yields turned negative this year on the region’s own quantitative easing.

On Saturday, the People's Bank of China announced that it will cut the benchmark deposit and loan interest rates by 25 basis points starting 1st March. That would put the one-year deposit rate at 2.5 percent and the one-year lending rate at 5.35 percent.

Eurozone finance ministers agreed to extend Greece’s bailout deal for another four months, provided it came up with a list of reforms by this week. Under the deal, Greece will still live under the EU/IMF bailout which Greek Prime Minister Alex Tsipras had pledged to scrap.

This week, euro-area finance ministers prepare to reconvene in Brussels to try and break an impasse over financing Europe’s most indebted state, Greece.

U.S. non-farm payrolls increased by 257,000 in January, capping a total gain of 1 million workers since November, the strongest three-month increase in 17 years.