The major Asian stock markets had a mixed day today:
The major Asian currency markets had a mixed day today:
Some economic news from last night:
CPI (MoM) (Feb) decreased from 0.8% to -0.5%
CPI (YoY) (Feb) decreased from 2.1% to 1.0%
PPI (YoY) (Feb) decreased from -0.8% to -1.4%
GDP (QoQ) (Q4) increased from -0.3% to 0.0%
GDP (YoY) (Q4) increased from -1.1% to 0.1%
Building Approvals (MoM) decreased from 15.3% to -27.6%
Electronic Card Retail Sales (MoM) (Feb) decreased from 2.6% to 0.0%
Some economic news from today:
Machine Tool Orders (YoY) decreased from -9.7% to -10.7%
The major Europe stock markets had a mixed day:
The major Europe currency markets had a mixed day today:
Some economic news from Europe today:
French Non-Farm Payrolls (QoQ) (Q4) decreased from 0.4% to 0.2%
Tomorrow’s highly anticipated nonfarm payrolls report could be one of the final pieces of data needed to determine whether the Fed will raise rates by 25 bps or 50 bps at the March meeting. Analysts anticipate that payrolls rose 225,000 in February, and also believe that January’s massive posting of 517,000 will be revised down. Jerome Powell came under fire by Democratic lawmakers this week who state his policies will lead to 2 million lost jobs. Yet, Powell rebutted that inflation is also disproportionately hurting family, especially low earners. The consumer and producer price indexes set to be released next week will also have a major impact of the FOMC’s decision. Powell insists that no figure has been decided upon, but rest assured that rates will rise in the coming weeks.
US Market Closings:
Canada Market Closings:
Brazil Market Closing:
The oil markets had a negative day today:
The above data was collected around 16:17 EST on Thursday
The above data was collected around 16:23 EST Thursday.
Japan 0.501% (-0.4bp), US 2’s 4.88% (-0.190%), US 10’s 3.9071% (-6.89bps); US 30’s 3.86% (-0.013%), Bunds 2.61% (-3.5bp), France 3.137% (-0.2bp), Italy 4.386% (-3.4bp), Turkey 11.51% (-2bp), Greece 4.445% (-2.7bp), Portugal 3.506% (-1bp); Spain 3.616% (-4.8bp) and UK Gilts 3.838% (+7.5bp).
The post Market Talk – March 9, 2023 first appeared on Armstrong Economics.