March 17, 2025
United States:
US Retail Sales Rise by Less Than Forecast After January Drop
US retail sales rose by less than forecast in February and the prior month was revised lower, adding to concerns of a pullback in consumer spending.
The value of retail purchases, not adjusted for inflation, increased 0.2%, Commerce Department data showed Monday.
Europe:
ECB’s Guindos Sees Services Inflation Moving Toward Lower Levels
European Central Bank Vice President Luis de Guindos sees services inflation moderating, according to a radio interview with Onda Cero.
It “will move to lower levels and that is the fundamental element we use to say that inflation will converge toward 2% and that we will reach our price stability target,” he said in a live broadcast on Monday.
Asia:
Japan’s 40-Year Yield Rises to Record as Ishiba’s Support Falls
Concerns about slumping support for Prime Minister Shigeru Ishiba’s administration added to pressure on Japanese government bonds on Monday, helping send the 40-year yield briefly to an all-time high of 3%.
With speculation that policymakers may loosen fiscal discipline to increase spending before elections, the 40-year yield briefly rose to the highest since the bond’s issuance in 2007.
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