Morning Brief: Focus on U.S. GDP; China Turns Focus to Boosting Jobs; Eurozone To avoid Recession
Americas
Markets
Meta Surges As Sales, Forecast Beat Estimates On Ad Recovery – BBGhttps://t.co/R1yP6boApz
— LiveSquawk (@LiveSquawk) April 26, 2023
US 5-Year Note Sale:
— LiveSquawk (@LiveSquawk) April 26, 2023
– High Yield Rate: 3.500% (prev 3.665%)
– Bid-Cover Ratio: 2.54 (prev 2.48)
– Direct Accepted: 17.3% (prev 18.2%)
– Indirect Accepted: 69.1% (prev 68.5%)
– WI: 3.506%
*Focus on banks
Bank Turmoil Seen Crimping Credit At Double Powell’s Estimate – BBGhttps://t.co/A9KWKtRfgU
— LiveSquawk (@LiveSquawk) April 27, 2023
$FRC | First Republic Shares Continue Slide With No Deal In Sight – @FThttps://t.co/qZi3sEhYX9
— LiveSquawk (@LiveSquawk) April 26, 2023
Economic Indicators and Prospects
US Growth Set To Have Cooled In First Quarter As Fed Pushed Rates Higher – FThttps://t.co/AUv1oELx96
— LiveSquawk (@LiveSquawk) April 27, 2023
US Atlanta Fed GDPNow Q1: 1.1% (prev 2.5%)https://t.co/xHsjMjmYKe pic.twitter.com/K2FRLet1iz
— LiveSquawk (@LiveSquawk) April 26, 2023
A Strong March Outturn For US Durable Goods Belies Growth Concerns https://t.co/fex5Zj0RHL #gdp #data #transport pic.twitter.com/L5MBbJgchh
— LiveSquawk (@LiveSquawk) April 26, 2023
Housing
MBA: Mortgage Applications Increased in Weekly Surveyhttps://t.co/WJ4HFXuaXA pic.twitter.com/6bipfDg2Rm
— Bill McBride (@calculatedrisk) April 26, 2023
Freddie Mac: Mortgage Serious Delinquency Rate Decreased in Marchhttps://t.co/LUG55gTyYu pic.twitter.com/RWS5X5HJEU
— Bill McBride (@calculatedrisk) April 26, 2023
Monetary Policy
BoC: Discussion Ahead Of April 12 Rate Decision Focused On Whether MonPol Was Restrictive Enough
— LiveSquawk (@LiveSquawk) April 26, 2023
– Discussed Whether It Was Best To Raise Its Policy Rate On April 12 Or Wait For More Evidencehttps://t.co/2CwBuqpBpM
Fiscal Policy
Goldman Says Big US Tax Haul Means Debt-Limit Deadline In July – BBGhttps://t.co/RLy4nG68hg
— LiveSquawk (@LiveSquawk) April 27, 2023
Trade, Politics and Geopolitics
US Is ‘Eroding’ One-China Policy To Deter Beijing Over Taiwan, Former Top Envoy Says – @SCMPNews https://t.co/odI0an4gKM
— LiveSquawk (@LiveSquawk) April 26, 2023
US plans rare nuclear missile submarine visit in message to North Korea https://t.co/bwHnMqBZIP pic.twitter.com/t6STwac8j0
— CNA (@ChannelNewsAsia) April 27, 2023
Asia
Markets
Confidence is in short supply among Chinese investors these days, confounding analysts who say reasons to own the market are finally coming true https://t.co/UdCnUQmBZe
— Bloomberg Asia (@BloombergAsia) April 27, 2023
Economic Indicators and Prospects
China is encouraging companies to boost hiring as the economic recovery gathers pace, underscoring persistent worries over the labor market and soaring unemployment among young people. https://t.co/Ufqw9OvGj8
— Bloomberg Asia (@BloombergAsia) April 27, 2023
China’s Auto Demand To Recover; Price War Risks To Linger – Fitch https://t.co/ztjV4qGdHh
— LiveSquawk (@LiveSquawk) April 27, 2023
Monetary Policy
Former Deputy Chief Sees Chance Of BoJ Tweaking Forward Guidance – BBGhttps://t.co/DjNSD4DfVC
— LiveSquawk (@LiveSquawk) April 27, 2023
Trade, Supply Chain and Geopolitics
Australia will change its immigration system after a review found the current model is not fit for purpose, Minister for Home Affairs Clare O’Neil said https://t.co/TKP3NQA077
— Bloomberg Asia (@BloombergAsia) April 27, 2023
China approves wide-ranging expansion of counter-espionage law https://t.co/xEDXMjkhxA pic.twitter.com/f8DRc5D6o2
— Reuters (@Reuters) April 27, 2023
Europe
Economic Indicators and Prospects
Eurozone Consumer Confidence Index Apr F: -17.5 (prev -17.5)
— LiveSquawk (@LiveSquawk) April 27, 2023
– Eurozone Economic Confidence Apr: 99.3 (est 99.9; prevR 99.2)
– Eurozone Industrial Confidence Apr: -2.6 (est 0.0; prev -0.2)
– Eurozone Services Confidence Apr: 10.5 (est 9.5; prev 9.4)
Sweden’s economy ekes out growth in the first quarter, averting recession https://t.co/Cv8WzDNwCB via @nicrolander pic.twitter.com/55tjRMs5AH
— Zoe Schneeweiss (@ZSchneeweiss) April 27, 2023
Housing
CRE
Monetary Policy
ECB Wakes Up to Greedflation as Key Culprit in Price Struggle … BBG
— Trading Floor Audio (@TradeFloorAudio) April 27, 2023
So-called greedflation is threatening to complicate efforts to rein in consumer-price growth, meaning the ECB may have to do more to hit its 2% target https://t.co/iMHVw5CUg6
The BOE shows the ECB how to shrink a balance sheet: @marcusashworth https://t.co/QCkY1lNyFG via @opinion pic.twitter.com/RfgDfShEhj
— Zoe Schneeweiss (@ZSchneeweiss) April 27, 2023
The BOE’s £450 billion quantitative easing program during the pandemic was not responsible for the current inflation shock, Deputy Governor Ben Broadbent says https://t.co/MAvAaVtZJq via @PhilAldrick @tomelleryrees pic.twitter.com/IkYr8VwH51
— Zoe Schneeweiss (@ZSchneeweiss) April 26, 2023
The euro-area economy looks set to avoid the recession that had been expected as recently as late last year, according to ECB Vice President Luis de Guindos https://t.co/oeqoGNvUWT
— Bloomberg (@business) April 26, 2023
Fiscal Policy
EU finance chiefs are set to lock horns on fiscal rules — here's what to watchhttps://t.co/kCXlvpY8T4 via @WHorobin @JReganReg pic.twitter.com/10M4Otkicq
— Zoe Schneeweiss (@ZSchneeweiss) April 27, 2023
Trade, Supply Chain and Geopolitics
Switzerland will commemorate victims of Nazi terror with an official state memorial for the first time, even as questions about its role during World War II continue to haunt the country https://t.co/DXYkbq3Cy5
— Bloomberg (@business) April 26, 2023
Other Areas And Global Economy
Will Central Banks Cut Rates To Avoid A Recession? – Morgan Stanley
— LiveSquawk (@LiveSquawk) April 26, 2023
– Central banks will likely pause rates for an extended period before they start easing, but investors should brace for other scenarioshttps://t.co/1lXfW6Ed6M