Key points:
- US February ISM manufacturing 47.8 vs 49.5 expected
- US January construction spending -0.2% vs +0.2% expected
- US February UMich final consumer sentiment 76.9 vs 79.6 expected
- US Feburary S&P Global final manfacturing PMI 52.2 vs 51.5 prelim
- Fed’s Barkin: Yesterday was a high inflation report
- Fed’s Kugler: Signs firms are adjusting prices slower, bolstering disinflation confidence
- Fed’s Goolsbee: Housing inflation is the thing that’s really been weird
- The Fed’s Daly: No comments on monetary policy
- Comments from Waller and Logan focus on balance sheet
- Canada February S&P Global manufacturing PMI 49.7 vs 48.3 prior
- BOE’s Pill: My baseline is that the time for cutting rates is some ways off
- Martin Schlegel a likely candidate to replace Swiss National Bank’s Jordan
- Goldman Sachs pushes back first ECB rate cut call to June from April previously
Markets:
- Gold up $40 to $2083
- US 10-year yields…