US markets fall on fears about Donald Trump’s tariffs, which are due to kick today unless he changes his mind. Australia’s business indicators in Q4 beat expectations, as did a survey of China manufacturing in February. New Zealand exports jump in Q4.
In our bonus deep dive interview, ANZ Economist Bansi Madhavani crunches the numbers on how much inflation might flow through to US consumers from Trump’s tariffs.
5 things to know in 5 minutes:
US stocks and bond yields fell after a disappointing ISM manufacturing survey for February showed the US economy is wobbling under the weight of inflation and growth fears from Trump’s tariffs, says ANZ Head of G3 Economics Brian Martin.
Australian business indicators of company profits and wages and salaries in Q4 were better than expected, says ANZ Senior Economist Adelaide Timbrell.
The ANZ Indeed job ads series for Australia fell 1.4% drop in February, although January was revised up. Ads have essentially stabilised near levels from last August, says ANZ Australia Economist Sophia Angala.
New Zealand’s terms of trade and export receipts rose in Q4, thanks to both better prices and volumes, says ANZ New Zealand Economist Henry Russell.
In China ahead of this week’s People’s Congress, the Caixin measure of manufacturing performance in February beat expectations, says ANZ Senior China Strategist Zhaopeng Xing.
Cheers,
Bernard
PS: Catch you tomorrow with a deeper dive into China’s National People’s Congress starting tomorrow.
