Morning Brief: U.S. Mortgage Rates Hit 5%, Lagarde Pinpoints June as Moment for Clarity
Americas
Economic Indicators and Prospects
US Retail Sales Growth Slows On Rising Prices https://t.co/c3PBHr6Idg pic.twitter.com/eKfsXDsNJ3
— LiveSquawk (@LiveSquawk) April 14, 2022
US Univ. Of Michigan Sentiment Apr P: 65.7 (est 59.0; prev 59.4)
— LiveSquawk (@LiveSquawk) April 14, 2022
– Current Conditions: 68.1 (est 67.0; prev 67.2)
– Expectations: 64.1 (est 53.6; prev 54.3)
– 1-Year Inflation: 5.4% (est 5.6%; prev 5.4%)
– 5-10 Year Inflation: 3.0% (prev 3.0%)
Housing
Two-year rent data showcase how the map of the U.S. economy shifted to the Sun Belt and away from expensive coastal cities and tech hubs during the pandemic https://t.co/xXtCw19Psi
— Bloomberg Economics (@economics) April 14, 2022
Tenants paid a median of $3,644 on new leases signed in March, the most in three decades https://t.co/Kbo9h4Ix4H
— Bloomberg Wealth (@wealth) April 14, 2022
🇺🇸 U.S. #Mortgage Rates Hit 5% for First Time Since Early 2011 – Bloomberg
— Christophe Barraud🛢🐳 (@C_Barraud) April 14, 2022
*Link: https://t.co/IbFN0wQMYb pic.twitter.com/zVdtrNxEkK
Monetary Policy
Speeding up the pace of rate increases to include hikes in increments of a half-percentage point is a “reasonable option” for the U.S. central bank, New York Fed President John Williams says https://t.co/RSwO7LKS35
— Bloomberg Economics (@economics) April 14, 2022
Trade, Supply Chain and Geopolitics
Asia
Covid-19
🇨🇳 #China escalates zero-#Covid propaganda effort as experts warn of economic damage – FThttps://t.co/PURe2TyVc0
— Christophe Barraud🛢🐳 (@C_Barraud) April 14, 2022
Economic Indicators and Prospects
China's huge truck delivery sector is being seriously disrupted by lockdowns. "I was stuck in my truck for almost 24 hours last weekend,” one driver told us: "They sealed our truck windows at almost every check point” https://t.co/UgY56Hg7if pic.twitter.com/sfVM1rhami
— Tom Hancock (@hancocktom) April 14, 2022
🇯🇵 Japanese Steelmakers Raising Prices and Warning of More Hikes – Bloomberghttps://t.co/eHZTwSJUKh
— Christophe Barraud🛢🐳 (@C_Barraud) April 14, 2022
Monetary Policy
🇨🇳 #China’s Central Bank Likely to Cut Interest Rate for Second Time – Bloomberghttps://t.co/MMSjcpFnJ8
— Christophe Barraud🛢🐳 (@C_Barraud) April 14, 2022
Trade, Supply Chain and Geopolitics
Europe
Economic Indicators and Prospects
Swedish CPI (Y/Y) Mar: 6.0% (exp 5.6%; prev 4.3%)
— LiveSquawk (@LiveSquawk) April 14, 2022
– CPI (M/M) Mar: 1.8% (exp 1.3%; prev 0.9%)
– CPIF (Y/Y) Mar: 6.1% (exp 5.6%; prev 4.5%)
– CPIF (M/M) Mar: 1.7% (exp 1.3%; prev 0.9%)
Monetary Policy
🇪🇺 Lagarde Pinpoints June as Moment for Clarity on #ECB Pullback – Bloomberghttps://t.co/Fy0Xgkh5d7?
— Christophe Barraud🛢🐳 (@C_Barraud) April 14, 2022
🇪🇺 #ECB SAID TO SEE GROWING CONSENSUS FOR 25BP RATE INCREASE IN 3Q – BBG
— Christophe Barraud🛢🐳 (@C_Barraud) April 14, 2022
*ECB POLICYMAKERS SEE JULY RATE HIKE STILL ON THE TABLE: RTRS
Energy
EU leaders plan to discuss common gas purchases at a summit next month as they seek to avoid competing against each other for alternative energy supplies in the effort to phase out purchases from Russia https://t.co/haTsiSIkKL
— Bloomberg Economics (@economics) April 14, 2022
Policy
🇫🇷 🇪🇺 #France | Macron and Le Pen Have Very Different Visions for Europe – Bloomberghttps://t.co/5IBLCvGStu
— Christophe Barraud🛢🐳 (@C_Barraud) April 14, 2022
A strong economy hasn't protected French President Emmanuel Macron from Marine Le Pen's attacks over inflation, writes @LionelRALaurent (via @bopinion) https://t.co/AQVfTwAQGx
— Bloomberg Economics (@economics) April 14, 2022
Trade, Supply Chain and Geopolitics
Kremlin: There Is No Information On The Prospects For The Russian-Ukrainian Negotiations https://t.co/g3m5c9JAck
— LiveSquawk (@LiveSquawk) April 14, 2022
Vladimir Putin says Europe currently has no alternative to Russian gas supplies, and any attempt to wean off those deliveries will have massive, negative consequences for the economy https://t.co/3o7pNxFtKR
— Bloomberg Economics (@economics) April 14, 2022
Other Areas And Global Economy
It will take many months before inflation comes down, says the IMF's Gita Gopinath. But the IMF sees inflation falling to 2% by the end of 2023 https://t.co/FcdMzf3eKd pic.twitter.com/mO4FdbBhuC
— BSurveillance (@bsurveillance) April 14, 2022