26 Mar Daily Briefing

Daily Briefing
26-03-2019

 
Chart of the Day: 
Fed policy reduced pressure on Treasury’s interest costs  

Treasury Secretary Steven Mnuchin is among the likely winners from the Federal Reserve’s dovish surprise last week. The average yield on the Treasury’s marketable debt rose last month to almost a nine-year high at 2.49%.  (Source: Bloomberg).

Political & Economic Headlines

  • Special Counsel Robert Mueller’s conclusion that US president Donald Trump’s campaign  did not collude with Russia in the 2016 election.   
  • Thailand held its first election in eight years and preliminary results showed that the pro-military Palang Pracharat party was ahead of the opposition party Pheu Thai.
  • France and China planned to sign trade deals worth billions of euros yesterday during a visit by Xi Jinping but Paris will also take the opportunity to push back against Belt and Road Initiative.  
Company News 
  • Nasper, Africa’s largest media group, said that it will spin off its holding in Tencent which it owns nearly a third and other international investment in the European listing. 
  • Nike was fined €12.5M by EU for unlawfully restricting cross-border sales of football shirts, scarves and other merchandise, raising prices and reducing choice for consumers. 
  • Uber is set to acquire Dubai-based rival Careem are nearing completion at an amount of $3.1 billion with $1.4 billion in cash and $1.7 billion in convertible bonds. 
Economic Data
Market Data
US markets cut-off time at 5PM GMT.


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