Back
LearningEnd Of Day Report March 14th

US military confirms a Russian fighter jet struck the propeller of a US military Reaper drone, forcing the US to bring it down over the Black SeaSwiss National Bank (SNB) declines to comment on Credit Suisse (CSGN SW)

Darren Krett

Tuesday 14 March 2023

Share on:

Swiss National Bank (SNB) declines to comment on Credit Suisse (CSGN SW) facebookSwiss National Bank (SNB) declines to comment on Credit Suisse (CSGN SW) twitterSwiss National Bank (SNB) declines to comment on Credit Suisse (CSGN SW) linkedin

End Of Day Report March 14th

Categories

closing report

HIGHLIGHTS

- US officials say about 75% of Russian seaborne oil is being sold outside the price cap, according to Bloomberg
- US Core CPI MM, SA* (Feb) 0.5% vs. Exp. 0.4% (Prev. 0.4%)
- US CPI YY, NSA* (Feb) 6.0% vs. Exp. 6.0% (Prev. 6.4%)
-  US Real Weekly Earnings MM* (Feb) -0.4% (Prev. 0.7%, Rev. 0.3%)
- Meta (META) expects to reduce team size by around 10k employees; expect to announce restructurings and layoffs in tech groups in late April, and then business groups late May; cuts FY23 
  expenses view
- German Regulator Bafin says so far it has no indications that bank customers are shifting their deposits
- US military confirms a Russian fighter jet struck the propeller of a US military Reaper drone, forcing the US to bring it down over the Black Sea
- Franklin Templeton's Head of European Fixed Income is betting against interest rate risk and expects US banking issues to have "muted impact in Europe" Says Central Banks, especially ECB, 
  will keep hiking
- S&P says First Republic Bank's (FRC) 'A-' rating has been placed on credit-watch Negative on funding profile risk; believe that its deposit flows have been volatile following government's closures of two banks
- FBN's Gasparino citing bank CEOs tweets "Fed is likely to tighten another 25bps despite sentiment Powell will hold amid SBV implosion/lower inflation due to 6% CPI still too high & holding 
  rates would be an indication of serious systemic flaws in the bank
- US House GOP says US should guarantee all US bank deposits, according to Politico
- Russian Defence Ministry says Russian fighters did not use on-board weapons and did not come into contact with an American drone; says drone went into uncontrolled flight with loss of 
  altitude and collided with water surface, according to TASS and RIA Says US drone flew over the Black sea in the direction of the Russian border with its transponders turned off.
- Saudi Energy Minister reiterates that the only course of action in such an uncertain environment is to maintain the agreement OPEC struck last October for the rest of this year and that is 
  what we intend to do (as WTI closes at its lowest level of the year) - Energy Intel interview

SUMMARY

Regional banks posted big gains on Tuesday as they regained their footing after huge losses in the previous session, but volatility continues.
Moves by the federal government to backstop uninsured bank deposits seemed to finally sink in. Meanwhile, Moody’s Investors Service on Tuesday downgraded the U.S. banking system to negative from stable. The rating agency said the move reflects “the rapid deterioration in the operating environment” following deposit runs and failures of Silicon Valley Bank, Signature Bank and Silvergate Bank.
All of this is posing an interesting challenge for the Federal Reserve. On one hand, you have a very delicate banking/financial system, whilst on the other, prices rising a lot faster than the Fed are comfortable with. 
Excluding volatile food and energy costs, so-called core prices rose 0.5% in February, slightly above January’s 0.4% gain a gauge the Fed pays particular attention to.

Market Snapshot

snap-0314

numbers-0314

C.PI. Breackdown

cpi-details

On The Ticket Tomorrow

numbers-0315

Related reads

Closing Report
END OF DAY REPORT March 7th-image

Darren Krett

Tuesday 7 March 2023

END OF DAY REPORT March 7th

Get a comprehensive overview on the economic climate in one convenient report.
END OF DAY REPORT March 7th

0


Comments (0)

Closing Report
End OF Day Report March 8th-image

Darren Krett

Wednesday 8 March 2023

End OF Day Report March 8th

Stay informed with this comprehensive report covering the financial market insights and important developments.

Get started with Leviathan FM today

7 day free trialContact us
See our pricing

© 2015 - 2024 Leviathan Financial Management LLC. All Rights Reserved.

Legal Disclaimer: The information provided in the Leviathan website is for informational purposes only. It should not be considered legal or financial advice. You should consult with a financial advisor professional to determine what may be best for your individual needs. Leviathan Financial Management does not make any guarantee or other promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. To the maximum extent permitted by law, Leviathan Financial Management disclaims any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses. Content contained on or made available through the website is not intended to and does not constitute legal advice or investment advice. Your use of the information on the website or materials linked from the Web is at your own risk.

Structured by Krett