Morning Brief – March 19th 2021
Americas
Technology shares led the market lower on Thursday as a spike in bond yields fueled fears of equity valuations and caused investors to sell growth-focused high flyers.
The Dow fell 0.46%.
The S&P 500 was down 1.48%.
The Nasdaq tumbled 3.02%. https://t.co/geVTCFZD5l pic.twitter.com/EHXtBTDWa9— CNBC (@CNBC) March 18, 2021
Nike posts mixed results as sales fall short of estimates, hurt by U.S. port congestion https://t.co/AKzRn2Qfz0
— CNBC (@CNBC) March 18, 2021
Amid a market sell-off, Wall Street’s biggest bull says relief is near. @MarkoKolanovic4 of @jpmorgan joins the traders to talk his take that treasury yields will stabilize and spark new highs within a matter of days. pic.twitter.com/tN4wCQ7u8t
— CNBC's Fast Money (@CNBCFastMoney) March 18, 2021
Dealers Have Shed Over $80 Billion in Treasuries in Two Weeks – Bloomberg
*Link: https://t.co/cYzM7dLvBn pic.twitter.com/oBivfBJdJ6— Christophe Barraud (@C_Barraud) March 19, 2021
The Federal Reserve Bank of Philadelphia’s latest survey of factories showed conditions in the region jumped in March to the highest level since 1973 as orders and shipments improved, while a measure of prices paid for materials soared to a 41-year high – Bloomberg pic.twitter.com/jXk2duC6KZ
— Christophe Barraud (@C_Barraud) March 18, 2021
#Housing | U.S. #Mortgage Rates Kept Climbing This Weekhttps://t.co/1mPtQzyZyJ
— Christophe Barraud (@C_Barraud) March 18, 2021
Fed Chair Powell to give speech on Monday, testify Tuesday and Wednesday https://t.co/32mMAo2qtR pic.twitter.com/IepYCUUSZW
— Reuters Business (@ReutersBiz) March 19, 2021
Jerome Powell has a goal that is bigger than the bond market’s near term inflation concern https://t.co/6zR2a8sOQH
— Bloomberg Economics (@economics) March 19, 2021
#Covid_19: Daily Summary (March 19th)
➡ News
➡ Restrictions (easing)
➡ Regional/national data
➡ Vaccine trackerhttps://t.co/UJSg6CygB9— Christophe Barraud (@C_Barraud) March 19, 2021
15 states are seeing an alarming uptick in COVID-19 infections https://t.co/88hv8vphd0 pic.twitter.com/esL6TPBFYT
— The Hill (@thehill) March 19, 2021
#Biden Weighing New Sanctions to Block Russian Gas Pipeline – Bloomberghttps://t.co/jH4WURnyxb
— Christophe Barraud (@C_Barraud) March 19, 2021
U.S. appeals WTO decision in South Korea trade dispute https://t.co/G6tfthFarm pic.twitter.com/HJFNCprT7q
— Reuters Business (@ReutersBiz) March 19, 2021
Asia
China’s stocks slumped, with the benchmark gauge capping its longest weekly losing streak since early 2016, after high-level Alaska talks with the U.S. descended into bickering https://t.co/FKJTdRER2o
— Bloomberg Asia (@BloombergAsia) March 19, 2021
“Beijing has been concerned about Jack Ma's empire for a while.”
China has asked Alibaba to sell its media assets. Concern has grown about the tech giant's influence over public opinion as its web browser vanishes from app stores, @pelstrom explains https://t.co/Rd36H249rq pic.twitter.com/IpyeYmSVab
— Bloomberg Quicktake (@Quicktake) March 19, 2021
#Japan | #BOJ Carves Out More Policy Flexibility After Three-Month Review – Bloomberghttps://t.co/9VI9SJm4LA
— Christophe Barraud (@C_Barraud) March 19, 2021
#Japan | *#BOJ TO GIVE #JGB PURCHASE AMOUNT INSTEAD OF RANGE FROM APRIL
*BOJ TO DISCLOSE JGB PURCHASE PLAN ON MARCH 31— Christophe Barraud (@C_Barraud) March 19, 2021
The BOJ's move to buy only ETFs tracking the Topix ends a decade-long backing of the Nikkei 225, which has lifted shares in Uniqlo's operator but has also brought controversy. https://t.co/KjLrluHgeY
— Bloomberg Asia (@BloombergAsia) March 19, 2021
U.S.-#China Talks in Alaska Quickly Descend Into Bickering – Bloomberghttps://t.co/YtK0rhbL0q
— Christophe Barraud (@C_Barraud) March 19, 2021
#China | Record Defaults Hit Weak Chinese Firms as Liquidity Tightens – Bloomberg
*Link: https://t.co/oG3MxmZyDP pic.twitter.com/dN9Ty2qpcP— Christophe Barraud (@C_Barraud) March 19, 2021
Exclusive: Targeting Tesla, #China's Geely to launch new premium EV brand – sources – Reutershttps://t.co/gnAkxPKXoL
— Christophe Barraud (@C_Barraud) March 19, 2021
Thailand will reduce the mandatory quarantine period for foreign travelers from next month but deferred a decision on recognizing vaccine certificates for easier global mobility amid a spike in global virus cases https://t.co/4Lu76ognxV
— Bloomberg Economics (@economics) March 19, 2021
Europe
World’s longest-lasting negative rate regime is getting a revamp
BOJ carves out more policy flexibility after 3-month review
Virus shrank global middle class for the first time since the 1990s
Here's a rundown of your top economic news today https://t.co/icQ7Jfoqnl— Bloomberg Economics (@economics) March 19, 2021
#Europe #Covid_19: Daily Summary (March 19th)
Special focus on ⚠ #France ⚠
Data for #Germany, #Spain and #Italyhttps://t.co/NgTssmxZZE
— Christophe Barraud (@C_Barraud) March 19, 2021
Germany’s coronavirus cases rise by the most in two months, days before Chancellor Angela Merkel hosts talks to decide on the government’s lockdown strategy https://t.co/cBO75GpiIF
— Bloomberg Asia (@BloombergAsia) March 19, 2021
UK set to undershoot towering COVID-19 borrowing forecast https://t.co/XkwOWONTUL pic.twitter.com/imgr30nFg2
— Reuters Business (@ReutersBiz) March 19, 2021
The EU has a chance to put Covid-19 vaccinations back on track Friday after a chaotic week of vaccine suspensions, health scares and export-ban threats https://t.co/xw6gWbV9UP
— Bloomberg Economics (@economics) March 19, 2021
#Germany will set up a new aid package totaling 1.5 billion euros ($1.8 billion) to help companies hurt by the pandemic, Funke Mediengruppe reported, citing a letter by Economy Minister Peter Altmaier to states.
— Christophe Barraud (@C_Barraud) March 19, 2021
*BANK OF #RUSSIA: RATE HIKE POSSIBLE AT ONE OF NEXT MEETINGS – BBG
— Christophe Barraud (@C_Barraud) March 19, 2021
*Most Read:
U.S. Economic Growth Will Easily Top 6 Percent In 2021
U.S. Total Excess Personal Savings Will Be A Massive Economic Boost From 2Q
US Growth Will Exceed Expectations In 2021
U.S. Mortgage Refinancing Index Crashed To A 6-Month Low