Daily Market Insight

• Fed's Powell Says 50 Basis Point Rate Hike for May on the Table • U.S. existing home sales fall further as house prices hit record high • Euro zone trade deficit extends to Feb as energy import burden rises • Yen and yuan suffer as Fed eyes faster hikes

• IMF cuts global growth forecast over Ukraine war • Oil prices fall 5% after IMF cuts growth outlook • Treasury Short-End Yields Surge While 30-Year Rate Tops 3% • U.S. dollar rockets to 20-year peak vs yen on Fed, BOJ policy difference

• China’s first quarter GDP beats expectations to grow 4.8% year-on-year • U.S. Retail Sales Moderated in March Amid Squeeze from High Gas Prices • China cuts reserve requirements for banks as economy slows • Dollar gains on euro as ECB seen in no rush to hike rates

• China’s consumer and producer inflation rise faster than expected in March • War to slash Ukraine's GDP output by over 45%, World Bank forecasts • Oil falls, pressured by China lockdowns, reserves release • Macron lead lends a hand to the euro ahead of ECB

• U.S. weekly jobless claims back to 53-year lows • Inflation in Russia hits 7-yr high, prices jump 10% in year-to-date • Japan's Feb current account swings back to surplus from big deficit • Dollar inches up to new two-year peak, 10-yr U.S. Treasury yield touches 3-yr high

• Fed officials plan to shrink the balance sheet by $95 billion a month, meeting minutes indicate • China's cabinet flags more measures to support economy • Asia’s coal price jumps as EU’s Russia ban threatens supply • Asian shares slip on hawkish Fed, dollar stands tall

• Treasury yields invert as traders weigh U.S. recession risk • EU’s new Russia sanctions to likely include steel, luxury goods, jet fuel and more • World Bank cuts East Asia GDP growth forecasts, warns of risks • Oil prices jump as much as 4% as Saudi Arabia raises prices for customers across the globe

• U.S. unemployment rate drops to 3.6% as labor market rapidly tightens • Euro zone inflation hits new peak, deepening ECB's dilemma • U.S. manufacturing sector activity slows in March; input prices surge • Euro weighed down by talk of fresh Russia sanctions, 2-year Treasury yields near 2.5%

• U.S. Spending Slows in February as Stimulus Fades, Inflation Bites • China’s March Manufacturing, Services Activity Contract • Japan business mood sours as Ukraine war, inflation take toll • Dollar eyes 2.8% quarterly gain as safe-haven flows support, bond yield continued to retreat

• Euro holds at one-month high, yen set for worst month since 2016 • BOJ stands its ground on benchmark yield as global rates pressure builds • China’s factories were hit harder this quarter than last year as Covid drags on, survey says • Oil prices dive as Biden weighs massive reserves release