March 13, 2024
United States:
US Inflation Tops Forecasts in Blow to Fed Rate-Cut Hopes
US consumer prices jumped at the start of the year, stalling recent disinflation progress and likely delaying any Federal Reserve interest-rate cuts.
The consumer price index rose by more than forecast across the board in January — on a monthly and annual basis — as did the core measures, which strip out food and energy costs. A key subset of services prices advanced by the most in nearly two years, and shelter costs heated up, government data showed Tuesday.
Europe:
Euro-Zone Production Slumps as Economy Starts 2024 With Stumble
Euro-area industrial production slumped at the start of the year, raising the prospect that the economy as a whole is struggling to grow in the first quarter.
Output in the region fell by 3.2% in January from the previous month, whose increase was also revised down markedly, Eurostat said on Wednesday in Luxembourg. The decline from December was notably worse than the 1.8% median forecast of economists surveyed by Bloomberg.
Asia:
BOJ Is Said to Mull Axing ETF Buys, Continuing Bond Purchases
Bank of Japan officials are considering scrapping the buying of exchange-traded funds, a measure introduced in 2010, provided the central bank’s inflation target comes into sight, according to people familiar with the matter.
The officials see little need to keep buying ETFs to limit risk premiums in a market that recently hit a record high, according to the people.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.