Global money market funds continued to attract big inflows in the week ended March 29, as investors chased safer assets amid lingering worries over the turmoil in the banking sector and concerns over tightening economic conditions.
China's non-manufacturing activity expanded for the third consecutive month in March, official data showed on Friday, suggesting a strong services sector recovery is on track this year.
U.S. Federal Reserve emergency lending to banks was on balance fairly stable at very high levels as the financial system continued to contend with banking sector stresses, central bank data released on Thursday showed. As of Wednesday, banks tapped $88.2 billion from the central bank's discount window lending facility, versus $110.2 billion on March 22.
The U.S. dollar fell to a 1-week low against the euro on Thursday as German inflation data helped lift the common currency and as concerns over the banking sector receded. Inflation eased significantly in Germany in March on the back of lower energy prices but was above forecasts, adding pressure on the European Central Bank to further tighten its monetary policy.
Three Federal Reserve officials kept the door open on Thursday to more rate rises aimed at lowering high levels of inflation, with two noting banking sector problems could generate enough headwinds on the economy to help cool price pressures faster than expected.
Fitch: * FITCH: RECENT BANKING SECTOR TURMOIL COULD SPEED UP TIGHTENING OF REGULATIONS FOR US LARGE REGIONAL BANKS. * FITCH: PERMANENT WRITE-DOWN OF CS'S AT1S BEFORE FULL LOSS ABSORPTION BY SHAREHOLDERS DOESN'T APPEAR TO BE LIKELY TO BE REPEATED BY OTHER MAJOR REGULATORS.
By Saqib Iqbal Ahmed. The dollar slipped to a 1-week low against the euro on Thursday as German inflation data helped lift the common currency and as concerns over the banking sector receded. Inflation eased significantly in Germany in March on the back of lower energy prices but was above forecasts, adding pressure on the European Central Bank to further tighten its monetary policy.
Two-year Treasury yields
rose to one-week highs on Thursday as investors grew more
confident that recent stress in the banking sector would be
contained, but remained cautious about the impact that ...
China's flagship carrier Air China Ltd (AICAF) posted record annual losses of 38.6 billion yuanon Thursday as the country's now-abandoned zero-COVID policy led to a plunge in demand. Shanghai-based China Eastern Airlines Corp Ltd on Thursday said it had lost a record 37.4 billion yuan in 2022, wider than its 2021 loss of 12.2 billion yuan.
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