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Writer's pictureStéphan

U.S CPI sticky, super core well up, labor prod 15y highs! / JPN wages up, BoJ next week / RRP down / DAX, SPX new highs



  • Toyota, Nippon Steel agree to historic pay hikes ahead of BOJ meeting Japanese companies boost wages in departure from 'lost decades', with the shunto spring wage negotiations mostly concluding on Wed, companies to give their unionised workers an average wage increase of more than 4 per cent, compared with 3.6 per cent last year. That would be the biggest (welcome..!) rise since 1992

  • U.S Core annualised CPI on a 3mos basis rose to 4.4% (4%) while the 6mos rose to 3.8% (3.4%), Annual CPI is slightly hotter than expected - rose by 3.2% (vs 3.1% expected), and Annual CPI excluding food and energy also rose to 3.8%, despite falling below previous month’s number of 3.9%. (vs 3.7% expected)

  • The US Inflation Rate has now been above 3% for 35 consecutive months, the longest period of high inflation since the late 1980s/early 1990s

  • U.S Labor productivity jumps to 15-year highs! Economy chugging along, need cuts?

  • Put in words : FITCH, on CPI ".. a sober reminder of the tendency for inflation to perpetuate itself." .. Three-month annualized core CPI "has risen to 3.8% in February, up from 3.0% last October. That is not the direction the Fed wants to see."

  • China drops visa requirements for Swiss citizens

  • RRP down to $500mio from $2.5trn in mid 2023

  • ESG : A majority of investors that picked their ISA based on sustainability credentials actually have their cash in providers classified as ‘worst’ for their environmental impact, new research has revealed

  • WTI Crude right around 200dma of $78

  • Markets : stable rates, Fed pivot or not, liquidities are still on the rise/Thread. SPX500 new all time highs, DAX joining in too. USDollar pretty quiet/soft ish, focus USDJPY next. Metals ''off highs on slightly higher inflation print'', always strange headline to read..

 











USDJPY - clear top 150-151 - JPN wages up the most in decades, BoJ coin flip for next week for markets, many hope hey don't , price action been quite mild ahead of meeting


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