Overseas Headlines – March 01, 2021

United States:

Wall Street Forecasts for U.S. Economy Depend on Services Hiring

“Wall Street’s most bullish economic forecasts hang on a simple prediction: everybody will flood back soon to their local gyms, bars and yoga studios as if the pandemic was in the past. A jobs boom in the vast U.S. service sector – the nation’s largest employer ranging from software developers to the local Chipotle – is a central part of bold calls on growth this year.”



Bank of England Aligns With the Fed Over Rout in Bond Market

“In the showdown between traders and central bankers over rising bond yields, the Bank of England is aligned more with the relaxed views of the U.S. Federal Reserve than peers in Asia and Europe that are trying to rein in markets. Addressing the topic for the first time late last week, BOE policy makers echoed Fed officials in reading a surge in borrowing costs as optimism about a rapid recovery. They brushed aside concerns about a return to the dysfunction in markets that dominated the early days of the coronavirus pandemic.”



Asia’s Factories Grind Ahead Amid Lunar New Year Disruptions

“Manufacturing engines across Asia ground ahead last month, with most continuing to expand during the volatile Lunar New Year holiday period. Japan recorded its strongest reading since 2018, while India, Indonesia, Philippines and Vietnam all remained above the 50 level that separates expansion from contraction. Malaysia and Thailand shrank further, at 47.7 and 47.2.”




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