The major Asian stock markets had a green day today:
The major Asian currency markets had a mixed day today:
Some economic news from last night:
Caixin Services PMI (Feb) increased from 52.9 to 55.0
Jobs/applications ratio (Jan) remain the same at 1.35
Tokyo Core CPI (YoY) (Feb) decreased from 4.3% to 3.3%
CPI Tokyo Ex Food and Energy (MoM) (Feb) increased from 0.1% to 0.3%
Services PMI (Feb) increased from 52.3 to 54.0
Home Loans (MoM) decreased from -4.2% to -4.9%
Some economic news from today:
Nikkei Services PMI (Feb) increased from 57.2 to 59.4
FX Reserves, USD decreased from 561.27B to 560.94B
The major Europe stock markets had a green day:
The major Europe currency markets had a mixed day today:
Some economic news from Europe today:
German Trade Balance (Jan) increased from 10.0B to 16.7B
German Services PMI (Feb) increased from 50.7 to 50.9
Spanish Services PMI (Feb) increased from 52.7 to 56.7
Italian Services PMI (Feb) increased from 51.2 to 51.6
French Services PMI (Feb) increased from 49.4 to 53.1
S&P Global Composite PMI (Feb) increased from 50.3 to 52.0
Services PMI (Feb) increased from 50.8 to 52.7
Composite PMI (Feb) increased from 48.5 to 53.1
Services PMI (Feb) increased from 48.7 to 53.5
The personal consumption expenditures price index in the US rose by 0.6% for the month and 4.7% on an annual basis, according to a report release by the Commerce Department. Factoring in energy and food, headline inflation continued to rise by 0.6% for the month and 5.4% compared to last year. Consumer spending also saw an increase of 1.8% for the month (1.1% when adjusted for inflation). Personal income rose 1.4%, while the personal saving rate soared 4.7%. Although rates are already at a 41-year high, these key indicators are likely to cause the Fed to continuing tightening their monetary policy as it has failed to stabilize prices. Energy prices alone rose 2% for the month, goods increased by 0.6%, and food rose by 0.4%. On an annual basis, energy is up 9.6% and food is an unsustainable 11.1% higher.
Amazon announced that it is halting construction in its second headquarters in Arlington, Virginia. Amazon’s real estate chief John Schoettler stated that the project will recommence and this June. The company has already hired 8,000 employees for the second headquarters, dubbed Met Park. The company had been searching for a location for HQ2 since 2017, and over 238 communities submitted bids to welcome Amazon’s business. The company originally settled on New York but backtracked after political backlash. The company is ultimately planning to bring 25,000 tech positions to Arlington in the near future.
US Market Closings:
Canada Market Closings:
Brazil Market Closing:
The oil markets had a green day today:
The above data was collected around 11:56 EST on Friday
The above data was collected around 12:04 EST Friday.
Japan 0.504% (-0.2bp), US 2’s 4.88% (-0.022%), US 10’s 3.9890% (-8.4bps); US 30’s 3.92% (-0.105%), Bunds 2.721% (-3.3bp), France 3.206% (-2.8bp), Italy 4.535% (-8.6bp), Turkey 11.22% (+66bp), Greece 4.486% (-4bp), Portugal 3.586% (-5.7bp); Spain 3.741% (-4.8bp) and UK Gilts 3.856% (-2.4bp).