Banker on the beach
AmplifyME | Mar 17, 2022 06:04
A tough day for trading as conflicting headlines meant it was rough waters for any day trader!h2 BEIJING STEPS IN/h2
A key financial policy committee led by Vice Premier Liu said government departments should “actively introduce policies that benefit markets”, adding that there is a need to “boost the economy,” in the first quarter. The Hang Seng China Enterprises Index jumped as much as 13% in Hong Kong, the most since 2008.
h2 UKRAINE DEAL IMMINENT/h2Ukraine and Russia have made significant progress on a tentative 15-point peace plan including a ceasefire and Russian withdrawal if Kyiv declares neutrality and accepts limits on its armed forces, citing sources in the FT. However, this was swiftly denied by Ukraine.
h2 SUPPLY CHAIN CRUNCH/h2Global supply chains were already stretched but things are about to get even worse as China deals with its latest COVID outbreak. The queues of container ships outside major Chinese ports are lengthening by the day as COVID-19 outbreaks (now highest in 2 years) in manufacturing export hubs threaten to unleash a fresh wave of global supply chain shocks.
h2 FOMC THE WAIT IS OVER/h2The Fed is set to pull the trigger on what is likely to be the first in a series of rate hikes. The 'dot-plot' of individual rate projections will be scrutinised for details on the number of rate rises, with the market priced for six 25bps moves this year. Full update on this tomorrow!
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