GLOBAL MARKETS-World shares steady as Archegos concerns temper Suez relief

* World shares steady, U.S. futures down 0.6%
* Nomura, Credit Suisse warn on losses after Archegos share
sale
* Markets hopeful ahead of Biden infrastructure plan
* Oil prices slip as ship re-floated in Suez Canal
* Asset performance: http://tmsnrt.rs/2yaDPgn
* World FX rates: http://tmsnrt.rs/2egbfVh

By Danilo Masoni and Wayne Cole
MILAN/SYDNEY, March 29 (Reuters) - World shares started the
week on cautious ground as uncertainty over the fallout of the
default of a U.S. hedge fund tempered relief from the refloating
of the ship blocking the Suez Canal.
Banks Nomura and Credit Suisse warned on Monday they were
facing significant losses after the hedge fund, named by sources
as Archegos Capital, defaulted on margin calls. Investors were bracing for further block trades causing
volatility in markets after a $20 billion worth of fire sales on
Friday reportedly linked to Archegos hit shares in some big U.S.
media and Chinese tech companies.
Developments in the Suez Canal however raised hopes that the
vital waterway could reopen and ease global shipping backlogs,
sending oil prices lower and offering support to stocks, while
currency markets were largely unaffected by Archegos worries.
The MSCI world equity index .MIWD00000PUS , which tracks
shares in 49 countries, was just above parity by 0809 GMT, while
U.S. .VIX and euro zone .V2TX volatility gauges picked up
from last week's lows.
After a mixed performance in Asia overnight, European shares
.STOXX were flat in morning deals, while stock futures pointed
to a 0.6% decline for Wall Street later in the day.
"Equity investors are apparently on edge after reports of
forced liquidations by hedge fund called Archegos Capital," said
AFS analyst Arne Petimezas in Amsterdam.
"However, in our universe of bonds and money markets and FX,
investors aren't batting an eyelash," he added in a note.
Credit Suisse shares CSGN.S were set for their worst day
in one year, down 13%, while Nomura 8604.T fell 16% in its
largest drop on record, limiting gains for Japanese shares.
Markets were also looking to President Joe Biden to outline
his infrastructure spending plans this week, which could
supercharge an already accelerating U.S. recovery.
"We expect the global economy to expand robustly at 6.4%
this year, fuelled by a large U.S. fiscal stimulus, with
positive spillovers for the rest of the world," said Barclays
economist Christian Keller in London.
"Rising inflation over the coming months should be
transitory, and core central banks seem committed to looking
through it," he added.
The prospect of faster U.S. economic growth has spurred
speculation of rising inflation and weighed on Treasury prices.
Yields on U.S. 10-year notes US10YT=RR eased a touch on to
1.648%, but were not far from the recent 13-month top of 1.754%.
European yields have been restrained by active buying from
the European Central Bank, widening the dollar's yield advantage
over the euro. The single currency was last little changed at
$1.179 EUR=EBS , just above a five-month low hit last week.
The dollar index dipped 0.05% at 92.739 =USD , after
reaching its highest since mid-November last week.
The lift in yields has weighed on gold, which offers no
fixed return. Spot gold XAU= was down 0.3% at $1,726 an ounce.
Oil prices eased as markets bet the refloating of the Ever
Given would allow tankers to use the waterway again. There were
over 300 vessels waiting to pass through the shipping route
which accounts for 12% of global trade. The market will also be cautious ahead of an OPEC meeting
this week, which will have to decide whether to extend supply
limits, or loosen the spigots. O/R
Brent LCOc1 fell 0.9% to $63.99 a barrel, while U.S. crude
CLc1 lost 1.4% to $60.15 per barrel.