March 24, 2025
United States:
US Treasuries Fall on Signs That Trump Will Dilute April Tariffs
US Treasuries fell, a sign that investors are favouring riskier assets, after reports that the tariffs President Donald Trump is set to announce next month will be more targeted than he has indicated.
The yield on the 10-year note rose about 5 basis points to 4.3%. German bonds also fell modestly, with the equivalent rate climbing 2 basis points to 2.8%, snapping five straight days of gains. S&P 500 futures rallied more than 1%.
Europe:
Euro-Zone Private Sector Picks Up as Germany Fuels Recovery
Business activity in the euro area reached its highest level in seven months as manufacturers recovered more than expected ahead of a massive increase in German spending.
The Composite Purchasing Managers’ Index by S&P Global rose slightly to 50.4, further above the 50-threshold separating expansion from contraction.
Asia:
PBOC Unveils New Method to Auction Its One-Year Loans to Banks
China’s central bank unveiled a new method for pricing its one-year loans to banks, the latest move in policymakers’ efforts to revamp their monetary toolkit.
The People’s Bank of China announced in a statement that banks will be able to bid for different prices on its one-year loans, known as the medium-term lending facility.
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