Morning Brief – March 25th 2021

Americas

The S&P 500 closed lower, unable to halt the prior day's selloff, as investors set aside optimism about the economic recovery by Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen. More here: https://t.co/4Wi2Wt6crl pic.twitter.com/ZttM46pHE2

— Reuters Business (@ReutersBiz) March 25, 2021

IHS Markit’s U.S. Price Gauges Increase to Fresh Records – Bloomberg
*Composite prices paid and received measures acceleratehttps://t.co/mb5SyN6VM7

— Christophe Barraud (@C_Barraud) March 24, 2021

Inflation Is Harder to Measure After a Year of Pandemic Spending – Bloomberg
*Link: https://t.co/yY7vJsI3bz pic.twitter.com/89GrGUTuV6

— Christophe Barraud (@C_Barraud) March 24, 2021

Yellen still sees "deep pockets of pain" in the economy while Powell maintains the Fed has the tools to tackle higher inflation. Here's what you need to know from today's Congressional testimony https://t.co/ARR1GcLR0k pic.twitter.com/femsc5BpYp

— Bloomberg TV (@BloombergTV) March 24, 2021

Stronger growth accounts for most of the jump in U.S. yields (via @RoyeBjorn & @TomOrlik) https://t.co/uuw2VXeALB pic.twitter.com/dXdqxlIeWm

— Bloomberg Economics (@economics) March 24, 2021

Manchin calls for 'enormous' #infrastructure package paid for with new taxes – NBChttps://t.co/DBCzGZU8aO

— Christophe Barraud (@C_Barraud) March 25, 2021

#Democrats Weigh Increases in Corporate, Personal Income-Tax Rates – WSJ https://t.co/olLgPf6RG3

— Christophe Barraud (@C_Barraud) March 25, 2021

#Stimulus Checks Have Left U.S. Households Ready to Spend – WSJ https://t.co/3MEWF8UOXo

— Christophe Barraud (@C_Barraud) March 25, 2021

US Regulator Opens Inquiry Into Wall Street's Blank Check IPO Frenzy – RTRS Sources https://t.co/a3za0ewR1l

— LiveSquawk (@LiveSquawk) March 25, 2021

Chinese tech stocks fall as U.S. #SEC begins rollout of law aimed at delisting – Reutershttps://t.co/BibguCL44A

— Christophe Barraud (@C_Barraud) March 25, 2021

#Covid_19: Daily Summary (March 25th)
➡ News
➡ Regional/national data
➡ Vaccine trackerhttps://t.co/m4KsArXXbS

— Christophe Barraud (@C_Barraud) March 25, 2021

Canadian #Housing Boom Raises Concern, With Homes Selling Far Above Ask Prices – WSJ https://t.co/CWP8fnIDyT

— Christophe Barraud (@C_Barraud) March 25, 2021

Ontario plans to sell more short-term debt in the year ahead to keep borrowing costs in check amid a spike in long-term yields https://t.co/upKoaUloa3

— Bloomberg Economics (@economics) March 25, 2021

Argentina is unable to repay its $45 billion debt with the IMF, says Vice President Cristina Fernandez de Kirchner https://t.co/w04ZqgEEmB

— Bloomberg Economics (@economics) March 24, 2021

Asia

Coronavirus latest: Philippines reports record-high new cases

Follow the latest COVID-19 news on Nikkei Asia's free blog.#COVID #coronavirus #vaccinehttps://t.co/qjPWWjFAGa

— Nikkei Asia (@NikkeiAsia) March 25, 2021

India will start vaccinating everyone over the age of 45, starting April 1.https://t.co/9396kIyM6d

— Nikkei Asia (@NikkeiAsia) March 25, 2021

#China Considers Creating State-Backed Company to Oversee Tech Data – Bloomberghttps://t.co/j77kCkKtOJ

— Christophe Barraud (@C_Barraud) March 25, 2021

Tech giants from Tencent to Alibaba fell after U.S. regulators revived threats to toss China’s largest corporations off U.S. exchanges https://t.co/fog8PcmJ1w pic.twitter.com/XTfr4syiBh

— Bloomberg Asia (@BloombergAsia) March 25, 2021

PBOC Review Of Reserve Requirement Ratio Discount Under Inclusive Finance Scheme Could Come Today Or April 6 – 21st Century Business Herald https://t.co/3QcbDtN4jW

— LiveSquawk (@LiveSquawk) March 25, 2021

#Japan | The Bank of Japan’s purchases of exchange-traded funds would be loss-making if the Nikkei 225 fell below around 20,000, #BOJ Governor Haruhiko Kuroda says Thursday – Bloomberg

— Christophe Barraud (@C_Barraud) March 25, 2021

China pushing for ‘early implementation’ of RCEP trade deal in January https://t.co/pQY7hyb79F

— SCMP News (@SCMPNews) March 25, 2021

(URGENT) N. Korea fires unidentified projectile into East Sea: JCS https://t.co/8VPuiULIL6

— Yonhap News Agency (@YonhapNews) March 24, 2021

Pyongyang may be testing out new technology rather than provoking, analysts say.https://t.co/qJsiWSnPZ9

— Nikkei Asia (@NikkeiAsia) March 25, 2021

Europe

BOE's chief economist says "rip roaring recovery" possible
Turkey central bank is said to pledge policy continuity
A hotter planet has Sweden predicting a new monetary policy era
Here's a rundown of your top economic news today https://t.co/n2xnbx7zPo

— Bloomberg Economics (@economics) March 25, 2021

#Europe #Covid_19: Daily Summary (March 25th)

Special focus on ⚠ #France ⚠

Data for #Germany, #Spain and #Italyhttps://t.co/1QwhbQakXy

— Christophe Barraud (@C_Barraud) March 25, 2021

Merkel calls on Germans to be more optimistic and pull together to beat the coronavirus, a day after making a rare public apology over a botched plan for a hard Easter lockdown https://t.co/BvH8pmYnzx

— Bloomberg Asia (@BloombergAsia) March 25, 2021

Israel: Continuing to crush the curve

The economy is nearly fully open

R continues to decline, now at its lowest ever: 0.55

This corresponds to a 65% weekly decline in daily cases pic.twitter.com/drYKhLAzOk

— Eran Segal (@segal_eran) March 25, 2021

The AstraZeneca halt has shaken confidence in Europe and its currency. There's still time to change the narrative, but it's running out. https://t.co/LcBqvnhdrj via @bopinion pic.twitter.com/jw8WrRpLAX

— John Authers (@johnauthers) March 25, 2021

#FRANCE MARCH BUSINESS CONFIDENCE RISES TO 97 VS 90 – BBG
*Before the local strengthening of health measures, activity was recovering sharply.
*Link: https://t.co/lgcFC4kmP7 pic.twitter.com/hwp4pxchVo

— Christophe Barraud (@C_Barraud) March 25, 2021

#BOE’s Chief Economist Says ‘Rip Roaring Recovery’ is Possible – Bloomberg
*Link: https://t.co/lmFYguu5Sw pic.twitter.com/5s39oSDupz

— Christophe Barraud (@C_Barraud) March 25, 2021

Turkey’s new central bank governor promised to stick to the single interest-rate framework adopted by his predecessor, state news agency Anadolu reported, citing a meeting between the monetary authority and commercial lenders https://t.co/k5LAVtNcNP

— Bloomberg Economics (@economics) March 25, 2021

The Gap Between U.S. and Eurozone Growth Prospects Has Increasedhttps://t.co/joHdy4pPaX

— Christophe Barraud (@C_Barraud) March 24, 2021

Just over a year after EU leaders held their first emergency summit to deal with the pandemic, they’ll once again hold a virtual meeting today. Vaccines top the agenda. @annaedwardsnews gets the latest from Brussels and @mariatad https://t.co/dtJLCAH4fo pic.twitter.com/HCWB1B4bc8

— Bloomberg TV (@BloombergTV) March 25, 2021

Here's the latest as EU leaders being a two-day video conference summit https://t.co/FpCku8yl3U

— Bloomberg Asia (@BloombergAsia) March 25, 2021

Global Economy

Suez Snarl Seen Halting $9.6 Billion a Day Worth of Ship Traffic – Bloomberg
*Link: https://t.co/U5CnT5PgGw pic.twitter.com/DC9XxQdm1w

— Christophe Barraud (@C_Barraud) March 25, 2021

Stranded Suez ship's owner, insurers face millions in claims #oott https://t.co/PDcszLejFV

— Giovanni Staunovo (@staunovo) March 24, 2021

Efforts to dislodge 400 m long #EVERGIVEN #containership in the #SuezCanal RESUMED at high tide on Thursday, with five tugs working to drag the vessel to deeper water https://t.co/7c86ppxSor

"We can't exclude it might take weeks, depending on the situation." @Reuters @Refinitiv pic.twitter.com/GBqxYlQAZ8

— Divya Chowdhury (@divyachowdhury) March 25, 2021

#EGYPYT SUSPENDS NAVIGATION AT #SUEZ CANAL TEMPORARILY – BBG

— Christophe Barraud (@C_Barraud) March 25, 2021

#Suez Canal clearance could take ‘weeks’ – FThttps://t.co/oINdPkxcEc

— Christophe Barraud (@C_Barraud) March 25, 2021

Managing big ships like the Ever Given can be particularly hard when there are big wind gusts in places like the Suez Canal https://t.co/jiV5nWhlI2

— Bloomberg Economics (@economics) March 25, 2021

Week Ahead

⚠ Week Ahead – w12 (2021) ⚠https://t.co/peSL9kWNBa

— Christophe Barraud (@C_Barraud) March 22, 2021

Most Read

U.S. Economic Growth Will Easily Top 6 Percent In 2021
U.S. High Frequency Indicators Point To A Sharp Economic Rebound
U.S. Total Excess Personal Savings Will Be A Massive Economic Boost From 2Q
The Gap Between U.S. and Eurozone Growth Prospects Has Increased