Market Talk – Wednesday, March 25

German Current Assessment (Mar) decreased from 99.0 to 93.0

German Ifo Business Climate Index (Mar) decreased from 96.0 to 86.1

Swiss:

ZEW Expectations (Mar) decreased from 7.7 to -45.8

Spain:

Spanish PPI (YoY) decreased from -0.9% to -2.2%

Norway:

Unemployment Rate (Jan) decreased from 3.9% to 3.8%

UK:

CBI Distributive Trades Survey (Mar) decreased from 1 to -3

Core CPI MoM (MoM) (Feb) increased from -0.6% to 0.6%

Core CPI (YoY) (Feb) increased from 1.6% to 1.7%

Core PPI Output (MoM) (Feb) decreased from 0.1% to -0.1%

Core PPI Output (YoY) (Feb) increased from 0.2% to 0.4%

Core RPI (YoY) (Feb) decreased from 2.8% to 2.5%

Core RPI (MoM) (Feb) increased from -0.4% to 0.5%

CPI (MoM) (Feb) increased from -0.3% to 0.4%

CPI (YoY) (Feb) decreased from 1.8% to 1.7%

CPI, n.s.a (Feb) increased from 108.20 to 108.60

PPI Input (MoM) (Feb) decreased from 0.3% to -1.2%

PPI Input (YoY) (Feb) decreased from 1.6% to -0.5%

PPI Output (YoY) (Feb) decreased from 1.0% to 0.4%

PPI Output (MoM) (Feb) decreased from 0.2% to -0.3%

RPI (YoY) (Feb) decreased from 2.7% to 2.5%

RPI (MoM) (Feb) increased from -0.4% to 0.5%

US/AMERICAS:

US lawmakers agreed this Wednesday on a $2 trillion stimulus package to aid Americans impacted by the coronavirus. Senate Majority Leader Mitch McConnell called the bill “a wartime level of investment for our nation” that received bipartisan support in the Senate. “It will rush new resources onto the frontlines of our nation’s healthcare sites, and it will inject trillions of dollars into the economy as fast as possible,” McConnell stated. The final text of the legislation has not been released, but we do know what it will likely include. Under the stimulus package, individuals who earn less than $75,000 annually will qualify for a $1,200 payout. Married couples grossing less than $150,000 can qualify for $2,400, and parents can claim $500 per child. Citizens earning less than those set amounts may still receive a government payout but it will be significantly less.

A group of 33 Attorneys General published a letter this Wednesday demanding a stop to price gouging on critical supplies during the ongoing pandemic. In one letter directed at Amazon CEO/Founder Jeff Bezos, the group noted that the average price of hand sanitizer and face masks rose by 50% during recent weeks. “We believe you have an ethical obligation and duty to help your fellow citizens in this time of need,” the letter stated.

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