Notes today: 

• Debt investors face a “bleak future:” so says Warren Buffett in his latest letter . Risky debt "is not the answer to inadequate interest rates. Three decades ago, the once-mighty savings and loan industry destroyed itself, partly by ignoring that maxim.” 

• 
  Kremlin critic Alexei Navalny has been transferred to a penal colony outside Moscow. 
  

• The $1.9 trillion pandemic aid bill narrowly passed the House in the early hours of Saturday, all attention is moving to the vote in Senate.. 

• ZD Net: Apple now sells more phones than Samsung.

• The official NBS Non-Manufacturing PMI for China dropped to its lowest in a year of 51.4 in February 2021 from 52.4 in the previous month. 

• The official NBS Manufacturing PMI for China fell to 50.6 in February 2021 from 51.3 a month earlier and less than market expectations of 51.1 

• China’s iron ore futures rose its fourth straight week, while steel rebar and hot-rolled coil advanced on higher downstream consumption. Capacity utilization rose to 92.28%. 

• Container shortage slows Indian sugar exports, fuels price rally.

• Iceberg More Than 20 Times the Size of Manhattan Breaks Off Antarctic Ice Shelf