Economy & Global Macro

Global Macro Playbook
Fed Holds Steady on Rates, Awaiting Clarity from Trump
The US Federal Reserve held interest rates steady on Wednesday, as reported by Reuters, and Chair Jerome Powell indicated that further cuts are unlikely until there's greater clarity on the economic impact of the Trump administration's policies.The decision and Powell's comments create a
Global Macro Playbook
Global Coffee Prices Brew Record Highs on Supply Crunch
Global arabica coffee prices have reached an all-time high, surpassing $3.60 per pound, driven by a perfect storm of dwindling supply and robust demand, Reuters reports.The surge is primarily attributed to the tightening supply of arabica beans in Brazil, the world's leading producer. Dealers note that
The Financial Times
Trump should call on Opec in his bid to negotiate with Putin
Enter Donald Trump. The new US president could call on Opec. He can pledge to ratchet up oil sanctions on Russia to the point where their impact becomes more acute: these would target not only ...
Global Macro Playbook
Spanish Inflation Tick Up Unlikely to Derail ECB Rate Cut
Despite a surprise increase in Spain's inflation rate, the European Central Bank (ECB) is still expected to cut interest rates later today, as reported by The Wall Street Journal.Spain's harmonized inflation rate, measured to EU standards, rose to 2.9% in January, up from 2.
Global Macro Playbook
US Economic Growth Likely Slowed in Fourth Quarter Despite Strong Domestic Demand
The US economy likely experienced slower growth in the fourth quarter, as reported by Reuters. A surge in imports and a strike at Boeing, which disrupted aircraft spending, contributed to the slowdown. However, robust consumer spending, fueled by a resilient labor market, suggests the Federal Reserve will maintain a gradual
Reuters
US economy slows in the fourth quarter; spending robust
Gross domestic product increased at a 2.3% annualized rate last quarter after accelerating at a 3.1% pace in the July-September quarter.
Reuters
Exclusive: Thailand's economy may underperform from weak consumption, warns central bank chief
Thailand's economic growth may falter at under 2.9% this year on the back of a weaker-than-expected fourth quarter where consumption cratered despite a government cash handout aimed up firing up ...
The Financial Times
Monetary policy is a sideshow now
Fiscal policy and monetary policy are always vying for top spot on the market’s list of concerns. For now, there is little to see at the Fed. What the market needs is clarity on the fiscal front.
Reuters
Banks, importers seen lapping up India central bank's $5 bln FX swap
The Reserve Bank of India's $5 billion dollar/rupee buy-sell swap auction on Friday is likely to see strong demand from lenders and corporate treasuries, six bankers said.
Reuters
Bank of Japan board reshuffle to bring it closer to 'normal' central banking
The fading shadow of reflationists in the Bank of Japan, and the latest addition to the board of an academic favouring an end to ultra-low interest rates, will likely bring the central bank's thinking ...
scmp.com
Hong Kong keeps base rate steady at 4.75% as monetary policy takes a breather after 3 cuts
HSBC and other major banks will only announce their interest-rate decisions on Monday, the first working day of the Lunar New Year.
Economist
Don’t let Donald Trump see our Big Mac index
America’s tariff-loving president could learn the wrong lessons from international burger prices
The Financial Times
DeepSeek hints that China has mastered the art of ‘kaizen’ — the west should be worried
Chinese manufacturers, with their attention long fixed on cost and technology, have been closely scrutinising all this, and have seen ways to make kaizen their own. DeepSeek may represent a software ...
Bloomberg L.P.
Trader Mints Millions in Hours on Bond Options Bet Tied to Fed
A bond trader appears to have hit the jackpot on a one-day options bet that Treasury yields would climb Wednesday after the Federal Reserve’s decision, potentially raking in millions of dollars in ...
Reuters
Oil prices settle down as US stockpile grows, tariffs still in focus
Oil prices fell on Wednesday, with the U.S. benchmark settling at its lowest year to date, after domestic crude stockpiles in the world's top petroleum producer and consumer rose more than expected ...
The Financial Times
Central banks live: Macklem says ‘no doubt’ the threat of tariffs ‘weighed’ on rate cut decision
Macklem said "there's no doubt" that the threat of tariffs "weighed" on the Canadian central bank’s decision to lower rates for a sixth consecutive time.
Bloomberg L.P.
The Closed Universe Of US Equity Trading: Macro Man Podcast
Bloomberg's Cameron Crise discusses some significant anomalies in recent US equity-market price action.
Reuters
Russia's Feb oil exports from western ports seen down 8% m/m as sanctions bite
Russia's crude oil exports from its western ports in February are set to fall by 8% versus January's plan as Moscow increases refining, two traders said and Reuters calculations showed, after the ...
Reuters
London stocks rise on auto boost; pound slips
The UK's main stock indexes rose on Wednesday boosted by gains in the automobiles and parts index, while the pound slipped after finance minister Rachel Reeves's dovish remarks on resetting ties with ...
Reuters
AI stock shock could spark broader gains in US market
A development in the field of artificial intelligence that staggered asset prices could help set the stage for broader stock strength beyond the narrow group of technology shares that has propelled ...
Bloomberg L.P.
KKR Eyes $190 Trillion of Wealth in Private Markets Golden Age
Private markets are set for a “golden age” even as investors adapt to a world of higher interest rates thanks to the vast pools of capital controlled by wealthy families that are set to pour into ...
Reuters
Oil prices dip as US crude inventories surge, tariff concerns loom
Oil prices fell on Wednesday, following a rise in U.S. crude stockpiles and easing worries over Libyan supply, while focus turned to potential U.S. tariffs on Canadian and Mexican imports.
Reuters
Swedish central bank cuts policy rate eying weak economy
Sweden's central bank cut its key policy rate to 2.25% from 2.50% as expected on Wednesday to boost sluggish economic growth and said its forecast for interest rates held though it stood ready to act ...
Reuters
Japan to cooperate with Bessent on forex, other issues
Japanese Finance Minister Katsunobu Kato and U.S. Treasury secretary Scott Bessent will cooperate on issues including forex, Kato said on Wednesday, following a video conference call between the two ...
Politico Europe
ECB set to cut rates as Europe eyes Trump tariffs
The European Central Bank is expected to cut interest rates this Thursday and hint at further easing ahead as policymakers, together with the rest of the world, try to process the implications of U.S.
Reuters
HSBC's global brand in the balance as it doubles down on Asia bet
HSBC Chairman Mark Tucker leaned into the microphone at a vast conference table in Beijing, telling British business leaders and senior Chinese officials that he spoke for all UK businesses present in ...
BBC
US tech stocks steady as Nvidia shares pick up after DeepSeek shock
Shares for leading US chip firm Nvidia dropped by almost 17% on Monday after the emergence of DeepSeek stunned Silicon Valley.
Reuters
Gold rebounds from tech-led selloff on tariff uncertainties
Gold prices rebounded on Tuesday from a dip in the previous session triggered by tech-led wider market sell-off, as increasing uncertainties over U.S. President Donald Trump's proposed tariffs kept ...
Reuters
Gold stabilises after selloff as wider markets regain balance
Gold held steady on Tuesday as investors focused on the U.S. Federal Reserve's policy meeting to see if President Donald Trump's policies have an impact on the central bank's views.
Nikkei Asia
Japan government nominates female academic to join BOJ board
TOKYO (Reuters) -- Japan's government on Tuesday nominated Junko Koeda, an academic who had warned of the cost of prolonged monetary easing, to join the Bank of Japan board in March, a choice analysts ...