MNI China Daily Summary: Thursday, March 16

(RPT) MNI INTERVIEW: Fed To Add SVB To Statement - Sobel

(RPT)MNI INTERVIEW: UK Long-End Gilt Market Functioning Better

MNI: ITALY FINAL FEB HICP +0.1% M/M (FLASH +0.2%); JAN -1.5% M/M

Off-the-Run 5y, On-the-Run 10/30y Oblis

Jan GDP Contraction Due to Auto Sales Slump

MNI BRIEF: Trudeau Justified Using Emergency Act, Judge Finds

MNI: Canada Boosting Health Spending CAD46.2B Over 10 Years

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

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US TSYS

Bear Flattening Ahead Of ECB Decision Adding To The Mix

CZK

EUR/CZK Pulls Back From Two-Month Highs

EGB OPTIONS

Bund option package

OIL

Strikes At French Refineries Continue For Ninth Day

OUTLOOK

Price Signal Summary - Key Support In Bunds Stays Intact - For Now

BONDS

MONTH END EXTENSIONS

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Bullard: Market Underpricing Risk That FOMC Is More Aggressive

FED

Heading into the interview with a terminal Fed rate priced around 5%, here are the key Bloomberg headlines from St Louis Fed’s Bullard (’22 voter) speaking with MarketWatch:

  • Rates
    • He reiterates that the FOMC needs to get to the bottom end of 5-7% rate range, with the Fed having to pursue rate hikes into 2023.
    • The markets are underpricing the risk the FOMC may be more aggressive as a way to go to get restrictive rates with the Fed may have to keep rates higher through 2023 and into 2024.
  • Growth
    • Q4 US GDP estimates are trending positive, sees below-trend US growth in 2023 but doesn’t think a recession is inevitable.
    • Housing market getting to more balanced growth path
  • Inflation
    • Not a big believer in wage-price spiral
    • TIPS-market expectations in reasonable range right now
    • Goal is to have 2023 as year for US disinflation - labour market strength gives license to pursue disinflation
Metals bulletEM BulletFixed Income NewsHomepageCommoditiesEnergy BulletsBulletMarketsEmerging Markets NewsForeign Exchange NewsFOMC Calendar Market News
Metals bulletEM BulletFixed Income NewsHomepageCommoditiesEnergy BulletsBulletMarketsEmerging Markets NewsForeign Exchange NewsFOMC Calendar Market News

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