Mindblown: a blog about philosophy.
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End of day report March 27th
A fairly muted day which was highlighted by a lack of further bank failures! Read or end of day summary on what happened in the markets today.
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US sells USD 42bln of 2yr notes at 3.954%; tails by 2.7bps, the largest tail since at least September 2017
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Goldman Sachs (GS) sees a 35% probability of a US recession within 12 months (prev. saw a 25% chance)
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End of day Report March 24th
Although market still seems very susceptible to any bank-related news,so as long as nobody "looks under the hood", we should be fine
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Fed’s Barkin (2024 voter) says Labour market is tight and inflation is too high, the case for hiking rates this week was pretty clear
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Fed’s Bullard (non voter) says the US response to bank stress “swift and appropriate” and has allowed monetary policy to focus on inflation
Inflation remains too high. US macro data is stronger than expected. Continued appropriate macroprudential policy can contain financial stress, while appropriate monetary policy can continue to put downward pressure on inflation Inflation expectations are relatively low and a good sign for disinflation in 2023 It is not uncommon for some firms to fail to adjust…
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US Treasury Secretary Yellen is convening a private meeting if financial stability oversight council on Friday morning, according to the US Treasury
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Spanish PM supports the creation of a European deposit insurance scheme
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ECB’S LAGARDE TOLD EU LEADERS ECB FULLY EQUIPPED TO PROVIDE LIQUIDITY TO EURO AREA FINANCIAL SYSTEM, IF NEEDED
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Fed’s Bostic (2024 voter) when asked about case for leaving rates unchanged, says “Some were willing to say this uncertainty is really big and we should wait” but Bostic is comfortable we can get through this crisis
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