March 28 (Tuesday)
Latest Morning Briefing Executive Summary: ‘Yes, There Will Be Growth in the Spring!’
Stock market bears have long expected a recession, but now the prospective credit crunch that could cause one seems more plausible after the SVB crisis. … We expect that the Fed and FDIC will contain the crisis. But we do see regional banks paying higher deposit rates now to prevent disintermediation. That’s likely to hurt their profitability and prompt more cost-saving M&A activity among them. … Also: The latest batch of economic indicators supports a soft-landing scenario.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on March 27.
Markets
BlackRock Says Markets Wrong on US Rate-Cut Bets | B
Central banks
ECB’s Enria says market nervousness is a concern | R
Fed’s Barr Calls Silicon Valley Bank a ‘Textbook Case of Mismanagement’ | W
US
America’s Housing Markets: Home Prices Fall in the West and Rise in the East | W
China
Alibaba to break up empire into six units as Jack Ma returns to China | R
China Boosts Lending to Struggling Belt and Road Borrowers | W
Column: China’s Q1 coal imports jump to new highs as factories throttle up | R
Column: China’s 2023 crude oil imports set for 6.2% rise, but risks prevail | R
Europe
Britain raises domestic threat level for Northern Ireland to “severe” | R
More food shortages could add to Britain’s price pressure | R
Geopolitics & trade
For Chip Makers, a Choice Between the U.S. and China Looms | W
No ‘Social Policy’ in Chips Act Rules, Commerce Secretary Gina Raimondo Says | W
Russia says it has rerouted all oil exports hit by Western embargo | R
Russia Supplies Iran With Cyber Weapons as Military Cooperation Grows | W
How facial recognition is helping Putin curb dissent | R
Kim Jong Un Says He Will Expand Production of Nuclear Material | W
Industries & companies
Autos: U.S. and Japan Strike Deal on Minerals Used in Batteries for Electric Cars | W
Financials: To Some Investors, Banks Look Like Bargains | W
Media: Disney Eliminates Its Metaverse Division as Part of Company’s Layoffs Plan | W
Climate
Opinion | Climate Change, Deglobalization, Demographics, AI: The Forces Really Driving Our Economy | NYT
Biden’s latest target in his war on appliances: air conditioning units | P
Beyond markets
NYT op-ed about remote work does not live in the same universe most workers do. | Slate.com
The Jobs Most Exposed to ChatGPT | W
