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March 5, 2021

Monetary / Fiscal Policy / Policy Makers

GLOBAL MARKETS-Wall Street surges on jobs data, global equity markets regain ground

Reuters
(New throughout, updates prices, market activity and comments) NEW YORK, March 5 (Reuters) – Wall Street and a gauge of global equity markets on Friday recovered from earlier losses as investors took stock of a report that showed faster-than-expected U.S. jobs growth but which had previously stoked inflation concerns. Trading......

Indian shares slip on bond yield worries; energy stocks rise

Reuters
BENGALURU (Reuters) – Indian shares fell for a second straight session on Friday as rising U.S. Treasury yields spooked equity investors, although a jump in oil explorers on higher crude prices limited losses. FILE PHOTO: People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020.......

China pledges to deepen reform of disease control and prevention

Reuters
Chinese Premier Li Keqiang speaks at the opening session of the National People’s Congress (NPC) at the Great Hall of the People in Beijing, China March 5, 2021. REUTERS/Carlos Garcia Rawlins BEIJING (Reuters) – China will improve the system for responding to public health emergencies and providing emergency supplies, the......

China’s market rates unlikely to rise rapidly in short term: state media

Reuters
SHANGHAI (Reuters) – China’s market interest rates are unlikely to rise rapidly in the short term despite the recent sharp uptick in U.S. bond yields, the state-run China Securities Journal said on Thursday. Chinese bonds have been “desensitized” to their U.S. counterpart, as economic cycles in the world’s two largest......

Australian economy storms ahead as COVID recovery turns ‘V-shaped’

Reuters
SYDNEY (Reuters) – Australia’s economy expanded at a much faster-than-expected pace in the final quarter of last year and all signs are that 2021 has started on a firm footing too helped by massive monetary and fiscal stimulus. FILE PHOTO: Ships waiting to be loaded with iron ore are seen......

Fed’s Daly calls for ‘patience,’ says too-low inflation costly

Reuters
FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir (Reuters) – San Francisco Federal Reserve President Mary Daly on Tuesday pushed back against the fear that easy Fed policy could bring on unwanted inflation,......

U.S. Senate to begin debating COVID-19 bill this week -Schumer

Reuters
FILE PHOTO: U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters in The Senate Reception Room during the second day of Trump’s second impeachment trial in Washington, U.S., February 10, 2021. Brandon Bell/Pool via REUTERS WASHINGTON (Reuters) – The U.S. Senate will begin debating President Joe Biden’s $1.9 trillion......

Australia job advertisements near 2-1/2 year peak in Feb

Reuters
SYDNEY, March 1 (Reuters) – Australian job advertisements rose to a near 2-1/2 year peak in February, providing another sign massive fiscal and monetary stimulus were working to prop up the country’s economy following a coronavirus pandemic induced recession. Monday’s figures from Australia and New Zealand Banking Group showed total......

UK’s Sunak to provide 5 billion pounds of grants to pandemic hit businesses in budget

Reuters
LONDON (Reuters) – British finance minister Rishi Sunak will announce 5 billion pounds ($7 billion) of additional grants to help businesses hit hard by pandemic lockdowns in his budget statement next week, the government said on Saturday. Shops, bars, clubs, hotels, restaurants, gyms and hair salons would be among nearly......

Britain backs work on new IMF special drawing rights allocation

Reuters
FILE PHOTO: Britain’s Chancellor of the Exchequer Rishi Sunak talks during a TV interview in London, Britain November 22, 2020. REUTERS/Simon Dawson LONDON (Reuters) – Britain on Friday backed work on a new allocation of the International Monetary Fund’s Special Drawing Rights currency that would help poorer countries. “During today’s......

India’s April-Jan fiscal deficit hits 66.8% of full-year target

Reuters
Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files NEW DELHI (Reuters) – India’s federal fiscal deficit in the 10 months to end-January stood at 12.34 trillion rupees ($167 billion), or 66.8% of the revised budgeted target for the whole......

China’s economy could grow 8-9% this year from low base in 2020: central bank adviser

Reuters
FILE PHOTO: A view shows traffic during evening rush hour at the central business district (CBD) in Beijing, China, January 15, 2021. REUTERS/Tingshu Wang BEIJING (Reuters) – China’s gross domestic product (GDP) could expand 8-9% in 2021 as it continues to rebound from the COVID-19 pandemic, Liu Shijin, a policy......

Euro zone corporate lending growth slows as monthly flows dry up

Reuters
FILE PHOTO: A woman walks past the European Central Bank (ECB) headquarter as the spread of the coronavirus disease (COVID-19) continues during an extended lockdown and a demand by the German government for more home office possibilities in Frankfurt, Germany, January 28, 2021. REUTERS/Kai Pfaffenbach FRANKFURT (Reuters) – Lending to......

Raising rates abruptly could jeopardise economic recovery: ECB’s Schnabel

Reuters
FILE PHOTO: Isabel Schnabel, member of the German advisory board of economic experts attends the 29th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 22, 2019. REUTERS/Ralph Orlowski/File Photo BERLIN (Reuters) – Raising interest rates too abruptly could jeopardise economic recovery, European Central Bank......

JGB yields jump to multi-year highs on global reflation trade

Reuters
TOKYO, Feb 25 (Reuters) – Yields on Japanese government bonds jumped to multi-year highs on Thursday, tracking a rise in U.S. and European bond yields as investors bet on ultra-easy monetary policy igniting inflation. Growing speculation that the Bank of Japan will widen the trading band for the benchmark 10-year......

Global equities rise as U.S. bond yield fears ease

Reuters
NEW YORK (Reuters) – A gauge of global equity markets rose on Wednesday after Federal Reserve Chair Jerome Powell said interest rates will remain low, calming market jitters sparked by a jump in U.S. Treasury yields on fears a robust recovery would drive inflation higher. FILE PHOTO: The German share......

Hospitalisation risk 64% higher with UK coronavirus variant: Danish study

Reuters
FILE PHOTO: Citizens are tested for coronavirus disease (COVID-19) at Arena Nord in Frederikshavn, Northern Jutland, Denmark November 7 2020. Claus Bjoern Larsen/Ritzau Scanpix/via REUTERS COPENHAGEN (Reuters) – A Danish study has found that people infected with a more contagious coronavirus variant first identified in Britain have a higher risk......

UK will resist EU pressure on banks over clearing: BoE’s Bailey

Reuters
FILE PHOTO: Chief Executive of the Financial Conduct Authority Andrew Bailey speaks at a press conference at the Bank of England in London, Britain February 25, 2019. Kirsty O’Connor/Pool via REUTERS/File Photo LONDON (Reuters) – Britain will resist “very firmly” any European Union attempts to arm-twist banks into shifting trillions......

Column: U.S. spillover risks stifling Europe and spurring ECB into action

Reuters
LONDON (Reuters) – When U.S. interest rates sneeze, Europe catches a cold. Rolled Euro banknotes are placed on U.S. Dollar banknotes in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration Market anxiety about the inflationary impact of the U.S. government’s massive planned spending boost is driving up U.S. Treasury yields......

Deutsche Bank upgrades U.S. GDP forecast on stimulus push

Reuters
FILE PHOTO: A shopper is seen wearing a mask while shopping at a Walmart store in Bradford, Pennsylvania, U.S. July 20, 2020. REUTERS/Brendan McDermid/File Photo (Reuters) – Deutsche Bank economists have upgraded their 2021/2022 forecasts for U.S. GDP growth on expectations of a bigger stimulus package in the world’s largest......

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