2018Feb

FC: EU MORNING BULLETS : 7TH-MARCH-2018 March 07, 2018 at 07:28AM

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* US Treasuries bounced on Cohn resignation, paring gains on Fed talk.

* US stock futures turned 1.5% lower, after the stocks closed little changed.

* Asian stocks have moved lower the Nikkei -0.8%,Hang Seng -1.1% and ASX -1%.

* US Pres Trump economic advisor Cohn resigned on tariffs dispute.

* Trump reiterated his commitment to levying tariffs on steel and aluminium saying that the US has “no choice” but to go ahead adding that the EU has been “particularly tough” on US products threatening 25% tariffs on European cars.

* US administration is also said to weigh broad curbs on Chinese imports and investments.

* House speaker Ryan calls for “surgical” tariffs, aims to water down Trump’s plans.

* Fed Brainard (voting dove) says growth tailwinds, notably the shift in fiscal policy, could speed the pace of rate hikes, while gradual increases remain appropriate for now.

* Fed Kaplan (non-voting dove) says cyclical inflation pressures are building but may not reach 2% this year.

* Eurogroup’s Centeno said debt relief for Greece would only come after the first programme is concluded successfully and debt would be considered sustainable.

* UK halifax house prices at 8.30am.

* EU GDP at 10am.

* US Mortgage applications at 12.00, ADP employment at 1.15pm and the US Trade balance at 1.30pm.

* Fed Bostic talks at 1pm, Fed Dudley at 1.20pm and the Fed Beige book at 7pm.

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