Good Morning All;
we’ll see the 31 March 2017 Headlines-International.
European central bank officials doused expectations policy makers were planning to withdraw monetary support, Fed officials shifted to a more hawkish tone, as the world’s biggest economy progresses toward goals for full employment and 2 percent inflation. Investors remained focused on Washington, where Republicans hinted they may revisit health-care reform, raising concern that tax cut attempts may take a back seat.
Italy Finance Chief Says Le Pen Victory Would Add Permanent Risk; Padoan says in interview temptation to leave Europe widespread; Italy can now address banking issues in agreement with the EU’
May’s Opening Brexit Bid to Tie Security to Trade Hits Wall; First day of Article 50 shows negotiations will be hard won; “No turning back” says May; U.K. will regret it: Juncker
SNB Will Scrap Negative Rate as Soon as Possible, Maechler Says “soon as we can get rid of the negative rate, we will do it — at the moment, the negative rate is necessary,” Swiss National Bank Governing Board Member Andrea Maechler says in speech at Zurich Economic Impulse in Rueschlikon, Switzerland.
OPEC Oil-Cuts Extension Unlikely, Russian VEB Economist Says; Rising U.S. output threatens any move to prolong supply deal; Price may dip but return to $50 by end-2017 with no new accord.
U.S. fourth-quarter growth revised upward to 2.1% on consumption; Gross domestic product rose at a 2.1 annualized pace, revised from 1.9 percent; Consumer spending, the biggest part of the economy, rose at a 3.5 percent rate, revised from 3 percent; added 2.4 percentage points to growth, revised from 2.05 points; Corporate profits in the U.S. jumped 9.3 percent from a year earlier, the most since 2012, and rose 0.5 percent from the previous three months, in the first estimate for the fourth quarter
Trump backs away from document suggesting softer aafta stance; Draft letter addressed to Congress does not mention currency; Acting U.S. trade representative outlines U.S. positions
White House deputy chief of staff Katie Walsh, a top aide to President Donald Trump, is leaving his administration to work for an outside group supporting the president’s agenda, three Republicans close to Trump said.
Trump Closely Watching Troubled Nuclear Plants That Obama Funded; Energy Department awarded $8.3 billion for Southern reactors; Toshiba’s Westinghouse filed for bankruptcy protection
Financial Market in Details
The Bloomberg Dollar Spot Index added 0.4 percent, paring its worst quarterly retreat since March 2016 to 3.4 percent.
The euro fell 0.8 percent to $1.0681 for a third day of declines. The British pound rose 0.3 percent to $1.2472.
The peso added 0.1 percent o 18.6916, while the rand weakened in late trading on reports of the shakeup that could include Finance Minister Pravin Gordhan.
Yields on 10-year Treasuries climbed four basis points to 2.42 percent. The rate fell four basis points on Wednesday after rising the same amount in the previous session.
German bonds gained, with the yield on 10-year bonds dropping by around one basis point after inflation in European’s largest economydecelerated more than forecast in Marc; Italian 10Y yield widened 1.1 bps to 2.148%, Spanish 10Y yield widened 0.6 bps to 1.649%
The S&P 500 rose 0.3 percent to 2,368.07 at 4 p.m. in New York, to the highest level since March 20. The benchmark gauge is up 0.2 percent in March and 5.8 percent in the quarter.
The Stoxx Europe 600 Index rose 0.5 percent to close at the highest since December 2015.
The MSCI Emerging Market Index slipped 0.3 percent. The index has surged 12 percent in the first three months of the year, the best quarter since 2012.
Crude rose to a three-week high after Kuwait comments bolstered optimism OPEC and its partners will extend output curbs.
West Texas Intermediate crude rose 1.7 percent to settle at $50.35 a barrel, the highest close since March 7.
Gold futures slipped as much as 0.9 percent to $1,245.90 an ounce before settling at $1,248 an ounce. The drop wiped out the metal’s gains for the month
Friendly Weekend All.