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Livesquawk - European Briefing - Thursday 04.03
European Briefing - Thursday 04.03
  • Rising Bond Yields Spook Shares As Traders Look To Powell
  • Fed’s Evans: Not Worried By Rise In Long-Term Bond Yields
  • Fed’s Harker: Don’t Expect Interest 2022 Rate Hike Anytime
  • Fed’s Beige Book Shows Businesses Optimistic On Vaccines
  • Senate Eyes Weekend Stimulus Vote, Biden Drives For Deal
  • State Sec Blinken: Only China Can Challenge Global System
  • House Cancels Session On Warnings Of Possible Capitol Plot
  • China's Market Rates Unlikely To Rise Rapidly In Short Term
  • Tensions Between EU And UK Inflamed On Northern Ireland
  • German Chancellor Sets Path To Gradually Easing Lockdown
  • Traders Count Down To Critical OPEC+ Meet, WTI Near $61
  • Siemens Energy To Replace Beiersdorf In German DAX Index
Rising Bond Yields Spook World Shares As Investors Look To Powell

Resurgent worries about rising US bond yields hit global shares on Thursday as investors waited to see if Federal Reserve Chair Jerome Powell will address concerns about the risk of a rapid rise in long-term borrowing costs.


The spectre of higher US bond yields also undermined low-yielding, safe-haven assets, such as the yen, the Swiss franc and gold. “It is not clear how the Fed wants to deal with bond yields,” said Hirokazu Kabeya, chief global strategist at Daiwa Securities.


“The pace of rises in yields has been far faster than most people have expected and there’s speculation the authorities may be starting to think about tightening their policy.” (RTRS - Continue Reading)

White House Weighs Minimum Wage Negotiations With Republicans

The White House is weighing whether to engage in talks with Republicans on a minimum wage hike once Congress passes its Covid relief bill, two sources with knowledge of their strategic thinking say.


White House aides said they believe there’s room to bring Republicans into the fold because raising the minimum wage is popular across ideological grounds. They pointed to the recent $15-an-hour wage increase passed in Florida as evidence that the issue has widespread support.


In a sign that the White House is looking to broaden the coalition behind a wage hike, administration officials reached out to trade groups last week to gauge their willingness to support legislation, according to two people familiar with the matter. (Politico - Continue Reading)

OPEC+ Silence Has Oil Market Second-Guessing Next Supply Move

OPEC and its allies kept oil-watchers guessing about their next move, after a day of preliminary talks offered few clues as to whether the market will get the April supply increase it’s been expecting.


Saudi Arabia and Russia, leaders of group, held bilateral talks on Wednesday, seeking common ground as Riyadh urges caution and Moscow presses to raise output, a delegate said. While OPEC+ is still widely expected to revive some of the 7 million barrels a day they’ve idled, a preliminary meeting of ministers earlier in the day didn’t get into specifics.


The trajectory of oil prices in the coming months now rests on the outcome of Thursday’s full meeting of OPEC and its allies. Crude could move higher if the group doesn’t deliver all of the extra barrels the market needs to fuel the economic recovery from the pandemic. (BBG - Continue Reading)

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