Category Archives: Weekly Market Event Highlights
Is a Banking Crisis Looming? Markets Turn Largely Risk-Off
Written on March 16, 2023 at 6:35 am, by puprimedev
Macro data has taken a backseat this week with a string of bank emergencies that started with the collapse of crypto bank Silvergate. This was soon followed by the Silicon Valley Bank – a favourite of tech start-ups – and then Signature Bank, whose strong connections to cryptocurrencies spooked depositors into a bank run. AllContinue Reading
Stubbornly Strong Jobs Data Supports Hawkish Fed Outlook
Written on March 9, 2023 at 6:56 am, by puprimedev
In a continued chain of unrelentingly robust jobs data, the U.S. ADP Nonfarm printed a reading of 242,000 for February, higher than an estimated 205 000 and up from a revised 119,000 for January. The service sector had the largest contribution to job additions with 190,000, of which a majority came from the leisure andContinue Reading
Commodities Surge as China’s Economy Recovery Sprints Ahead
Written on March 2, 2023 at 5:39 am, by puprimedev
On Wednesday, China released its Manufacturing PMI and Caixin Manufacturing PMI for February, beating economists’ expectations of 50.5 and 50.2 respectively. A reading above 50 indicates expansion from the previous month. This is the highest reading since April 2012, marking a faster-than-expected rebound for the world’s second-largest economy after covid-19 related shutdowns slowed growth toContinue Reading
