China Central Bank (PBOC) asks major state-owned banks to reduce us dollar purchases, and to withhold dollar purchase for proprietary accounts. PBOC asks state banks to strengthen checks executing orders for clients. PBOC will not resort to immediate sharp yuan depreciation to counteract impact from us tariffs.
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Japan government and ruling coalition begin consideration to distribute cash handout as part of measure to cushion the blow from Trump tariffs. Distributing 40,000-50,000 Yen per person among plans for consideration for Japanese government and ruling coalition economic measure.
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Taiwan Central Bank: We will closely monitor impact of Trump's tariff policy on domestic industries, as well as their financing situation, and take timely financial stabilisation measures when necessary. We make appropriate use of monetary policy tools to inject funds and maintain adequate liquidity in the banking system.
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ECB's Villeroy: The shock from a trade war is not negligible but no recession in sight.
ECB's Rehn: The case for cutting in April is supported by downside risks materialising. Tariffs and increased uncertainty already having adverse effects on economic growth.
ECB's Rehn: The case for cutting in April is supported by downside risks materialising. Tariffs and increased uncertainty already having adverse effects on economic growth.
JPMorgan cuts 2025 UK GDP growth forecast to 0.6% (Q4/Q4) vs prior forecast of 1.1%. JPMorgan now expects an additional interest rate cut from the BoE in September taking the year-end rate to 3.5% vs prior forecast of 3.75. UK economy expected to take a short term hit from US tariffs.
SPX Fear and Greed Index: 3 (Extreme Fear)
Crypto Fear and Greed: 18 (Extreme Fear)
If this is a bear market then it's the first bear market that can be unwound with a single tweet. How can you be scared? BTFD
Crypto Fear and Greed: 18 (Extreme Fear)
If this is a bear market then it's the first bear market that can be unwound with a single tweet. How can you be scared? BTFD
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Probability of a May 7 rate cut still 55%. With tariffs, both inflation expectations and yields are rising. Will the Fed cut rates with short term inflation expectations through the roof? There is a third option nobody is talking about, stablecoins. Tether ranked among the top buyers of US Treasuries in 2024. As other currencies suffer tariff induced hyperinflation, demand for USD can fuel more purchases of US debt through stablecoin adoption.
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