UPDATE: Bank of Canada Hikes Policy Rate by 50 Bps To 1% as Ukraine War Adds Fuel to Inflation, Supply Delays
–BOC Also Decides To Begin Quantitative Tightening, Gradually Trim BalanceSheet–BOC: Russia’s Invasion of Ukraine ‘Causing New Economic Uncertainty’–BOC Repeats: Timing, Pace of Further Rate Hikes Set by Economic Assessment–BOC Governor Macklem: Prepared To Be ‘Forceful’ in Rate Hikes If Needed By Max Sato (MaceNews) – The Bank of Canada on Wednesday jacked up its policy […]
White House and Other Schedules for Wednesday, April 13
WASHINGTON (MaceNews)—The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US Data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, APRIL 13, 2022 In the morning, the President and the Vice President will receive the President’s Daily Brief in the Oval Office. […]
Japan February Machine Orders Post 2nd Straight Monthly Drop Amid Uncertainty
–Japan Govt Downgrades View: Pickup in Machine Orders Stalling By Max Sato (MaceNews) – Japanese machinery orders, the key leading indicator of business investment in equipment, posted a sharper-than-expected second straight monthly drop in February amid uncertainty over economic growth caused by surging producer costs and the war in Ukraine, data released Wednesday by the […]
White House and Other Schedules for Tuesday, April 12
WASHINGTON (MaceNews)—The following are Tuesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FORTUESDAY, APRIL 12, 2022 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. Then, the […]
Japan March Producer Prices Up 9.5% Vs. 9.7% in February, Crude Oil Cost Rise Moderates 
–Japan Producer Prices +0.8% M/M, Led by Electric Power, Chemicals –Japan Producer Prices Rebound 7.3% in Fiscal 2021 After 1.4% Drop By Max Sato (MaceNews) – Producer inflation moderated slightly in March but remained high above 9%, close to a 41-year high, as global supply bottlenecks and high energy costs continued amid uncertainty over the […]
Japan Economic Sentiment Picks Up in March but Uncertainty Lingers Over Costs, Ukraine
By Max Sato (MaceNews) – Japanese data and anecdotal evidence are pointing to a resilient economy after the number of Covid cases peaked in February, but households and business continued to face rising costs and uncertainty over the pandemic and geopolitical risks after an expected slump in the first quarter. Economic confidence in Japan partially […]
FOMC: Likely Bal Sheet Runoff to be $60 Bln Tsys/Month, $35 Bln MBS/Month
WASHINGTON (MaceNews) – The Federal Open Market Committee minutes released Wednesday suggested a more aggressive runoff of the balance sheet than had generally been expected – at least before Gov. Lael Brainard’s more hawkish statements Tuesday – sending markets into sudden volatility as the implications were absorbed by market participants. The details of what the […]
ISM: US March Service Sector Activity Picks Up on Easing Covid Rules But Headwinds Remain 
–ISM: US Service Providers Continue Facing Surging Costs, Supply Bottlenecks –ISM’s Nieves: Fed Has to Tighten To Keep Inflation From Hurting Economy –ISM: Supply Delivery Delays Ease in March; Inventories Up but Still Too Low –ISM: War in Ukraine Pushing Up Prices, Creating Uncertainty for Many Firms By Max Sato (MaceNews) – US service sector […]
Japan February Household Spending Sluggish Amid Omicron, Snowstorms
–Spending Up Slightly on Year but Posts 2nd Straight Drop on Month –Ministry Drops ‘Flat’ Reference to Falling Spending; To Watch Covid Impact By Max Sato (MaceNews) – Japan’s household spending posted the second straight month-on-month drop in February as the worst spike in Covid cases in the two-year pandemic hit many regions and bad […]
BOC Q1 Survey: Business Sentiment Slips but Still High on Demand
–Firms See Rising Costs Amid Ukraine War, Higher Wages due to Tight Labor Markets — 70% of Firms in Canada See Above 3% Inflation Over 2 Years Vs. 67% in Q4 — BOC Consumer Survey: Prices Surge but Longer-Term Inflation Views Anchored By Max Sato (MaceNews) – Sentiment among companies in Canada dipped in the […]