Daily Market Insight

• US labor market still tight; housing market close to bottoming out • UK consumer mood hits one-year high, but financial gloom persists • Japan CPI inflation dips from over 40-year highs in Feb • Dollar pares losses after central banks raise rates

• SVB-focused Fed hikes rates 25 bp, suggests one more on horizon • UK inflation surprise pressures BoE to raise rates again • Japan's land prices up at fastest pace since 2008 on gradual econ recovery • Dollar hits near 7-week low as Fed’s terminal rate approaches

• Yellen vows to safeguard deposits at smaller U.S. banks, intervene if needed • U.S. single-family housing starts, building permits rebound in February • German exporters’ dip in China trade dampens post-lockdown hopes • Oil prices dip as Fed meeting looms, U.S. stockpiles seen rising

• US bank deposit outflows, unrelated to Credit Suisse, have stabilized • Euro zone trade deficit flat in Jan despite increased energy import spend • German producer prices rise more than expected in February • Dollar languishes as bank crisis fears ebb on Credit Suisse rescue

• U.S. consumer sentiment ebbs in March; inflation expectations fall • Central banks try to calm markets after UBS deal to buy Credit Suisse • Euro zone labor costs jump 5.7% y/y in Q4 • Oil prices rise on Fed liquidity support, Credit Suisse deal

• Banks sought record Fed liquidity in wake of SVB collapse • ECB cuts through bank turmoil to keep rate hike pledge • Singapore’s Feb non-oil domestic exports fall 15.6% y/y • Dollar slips as banks rescue makes room for relief rally

• U.S. producer prices unexpectedly fall in February • Japan exports up for 2 straight years, but global headwinds point to soft outlook • Australian employment rises more than expected in Feb • Dollar gains in safe-haven buying as Credit Suisse sparks wider banking fears

• U.S. deficit grows to $262 billion in February as tax refunds surge • BOJ expands measures on 10-year JGB trading to counter short sellers • Australia consumer sentiment pinned at 3-year lows in March • Dollar slides as Fed rate hike outlook tumbles after SVB collapse

• Strong US job growth persists; wage inflation shows signs of slowdown • Return to school unexpectedly boosts UK economy in January • China's February credit grows faster than expected, supporting recovery • Dollar weakens after U.S. jobs data suggests slower rate hike path

• US weekly jobless claims post largest rise in 5 months; labor market still tight • Japan’s economy barely grew in Q4, weak consumption raises policy challenge • China consumer inflation slowest in a year; producer deflation deepens • Dollar loses steam after jobless claims data; Kuroda takes center stage in Asia