Morning Brief – March 4th 2021
Americas
Nasdaq ends sharply lower as investors sell high-flying tech stocks and pivot to sectors viewed as more likely to benefit from an economic recovery https://t.co/UAVbSs2Kxm pic.twitter.com/uBPeBtWKNL
— Reuters Business (@ReutersBiz) March 3, 2021
Resurgent worries about rising U.S. bond yields hit global shares as investors waited to see if Federal Reserve Chair Jerome Powell will address concerns about the risk of a rapid rise in long-term borrowing costs. More here: https://t.co/U424SjpAsE pic.twitter.com/GEaguSdt48
— Reuters Business (@ReutersBiz) March 4, 2021
Analysis: Fixed-income markets wary of #Fed decision on bank capital relief – Reutershttps://t.co/YMzfB6U8r8
— Christophe Barraud (@C_Barraud) March 4, 2021
Historic Repo Market Insanity: 10Y Treasury Trades At -4% Ahead Of Monster Short Squeeze https://t.co/Yv6kMfMpdH
— zerohedge (@zerohedge) March 4, 2021
#Biden Backs Tighter Limits on Checks to Speed Relief Bill – Bloomberghttps://t.co/4I06sg3DCS
— Christophe Barraud (@C_Barraud) March 4, 2021
#Senate Eyes Weekend #Stimulus Vote Even as Biden Pushes for Deal – Bloomberghttps://t.co/e1rnWfslxE
— Christophe Barraud (@C_Barraud) March 4, 2021
Does the U.S. economy need more stimulus? Here's the economic reality (via @katiadmi & @readep) https://t.co/kls2Cb9hGl
— Bloomberg Economics (@economics) March 4, 2021
#Covid_19: Daily Summary (March 4th)
➡ News
➡ Restrictions (easing)
➡ Regional/national data
➡ Vaccine trackerhttps://t.co/B449JLMdI1— Christophe Barraud (@C_Barraud) March 4, 2021
The U.S. will suspend retaliatory tariffs on British products caught up in the longstanding dispute over illegal aid to Boeing and Airbus https://t.co/c9v2XPNL5c
— Bloomberg Economics (@economics) March 4, 2021
Asia
-U.S. futures fall
-Japan, Australia, China and South Korea stocks ⬇️
-Hong Kong stocks decline more than 2%
-Australia’s 10-year bond yield rises to 1.79%
-Gold ⬇️
-Oil rises to $61.57https://t.co/ozU3YuKbvM pic.twitter.com/RFHcZSgQpa— Bloomberg Asia (@BloombergAsia) March 4, 2021
Rates of open-market operations and medium-term lending facilities are unlikely to ⬆ sharply in the short term despite the surge in bond yields, as market expectations over the economy and inflation remain stable – #China Securities Journal
*Link: https://t.co/SQzVGPnoWj— Christophe Barraud (@C_Barraud) March 4, 2021
China’s $1 trillion wealth fund gains 12% in "very unusual year" https://t.co/TBR2j5lotj
— Bloomberg Asia (@BloombergAsia) March 4, 2021
What to Watch as #China Rolls Out an Economic Plan to Overtake the U.S. – Bloomberghttps://t.co/7IV8ZcE2xD
— Christophe Barraud (@C_Barraud) March 4, 2021
“Arguably the most expensive industrial policy program ever presented by any government.”
President Xi Jinping is planning a tech revolution to end China's dependence on the West during the annual #NPC meeting. @hancocktom tells @rumireports more https://t.co/prKh81t32p pic.twitter.com/8Sa7pxTH9B
— Bloomberg Quicktake (@Quicktake) March 4, 2021
Europe
Senate's final vote on stimulus will likely be pushed into the weekend
Powell likely to push back on bond-market doubts over policy
U.S. suspends tariffs on British goods in Airbus-Boeing dispute
Here's a rundown of your top economic news today https://t.co/P9fidQVcJu— Bloomberg Economics (@economics) March 4, 2021
EU APPROVES EU20B FRENCH PLAN FOR #CORONAVIRUS AID TO BUSINESS – BBG
*State guarantee will cover up to 30% of the portfolio of participating loans and subordinated bonds acquired by the private investment vehicles.— Christophe Barraud (@C_Barraud) March 4, 2021
#Europe #Covid_19: Daily Summary (March 4th)
Special focus on ⚠ #France ⚠
Data for #Germany, #Spain and #Italyhttps://t.co/BHM7RqQv3y
— Christophe Barraud (@C_Barraud) March 4, 2021
ECB Governing Council member Klaas Knot says rising yields reflect optimism about the economic outlook https://t.co/gjlvg9HHeg
— Bloomberg Economics (@economics) March 4, 2021
UK new car sales slump in February amid COVID-19 hit https://t.co/pX7Eaao7SR pic.twitter.com/PdO0lzIpal
— Reuters Business (@ReutersBiz) March 4, 2021
*Most Read:
U.S. Total Excess Personal Savings Will Be A Massive Economic Boost From 2Q
US Growth Will Exceed Expectations In 2021
U.S. 30-Year Mortgage Rates Are No Longer Below 3%