Agriculture
People working closely with the State sugar mills said they were surprised by this. We ourselves get them once in a while,” said a source close to the sugar industry in the State. Touchless coffee machines.
Oil
West Texas Intermediate (WTI) crude futures for May delivery fell 62 cents, or 1%, to $60.94 a barrel at 0149GMT. crude stockpile data from the American Petroleum Institute will be released later on Tuesday.
United States
We suggested the market might come to understand the Fed’s new average inflation targeting policy following its March meeting. The Fed’s raised GDP and inflation outlook didn’t change its zero percent interest rate policy. The market can force the Fed to cut rates by cratering, but it can’t force the Fed to hike rates. It might take longer for the market to realize that the Fed isn’t going to hike anytime soon. The only thing that can force the Fed to hike is spiking inflation.
Handily, the strategy team at UBS has come up with a cheat-sheet of sorts, based on 10-year U.S. breakevens — a gauge of inflation expectations. You can say it will be tough for the Fed to avoid reacting to a temporary rise in inflation. Many traders believe the Fed will be forced to hike by the market. 1/8 This is a thread about whether Fed policy is really as easy and dovish as it seems and as the Fed intends it to be. Wealth was transferred to Americans at the expense of the government and the Fed.
Handily, the strategy team at UBS has come up with a cheat-sheet of sorts, based on 10-year U.S. breakevens — a gauge of inflation expectations. You can say it will be tough for the Fed to avoid reacting to a temporary rise in inflation. Many traders believe the Fed will be forced to hike by the market. 1/8 This is a thread about whether Fed policy is really as easy and dovish as it seems and as the Fed intends it to be. Wealth was transferred to Americans at the expense of the government and the Fed.
Europe
The bad news is that the row with the U.K over vaccine supplies continues, though diplomatic efforts for an amicable settlement are under way. ECB Action | The ECB finally delivered on its promise to boost the pace of emergency bond-buying to combat the economic threat from higher yields. U.K.’s Boris Johnson says the EU does not want “blockades.
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