- On Wednesday, a global bond selloff intensified, and US futures fell alongside European stocks as investors braced for a stepped-up campaign of monetary tightening by the Federal Reserve to combat high inflation.
- In yet another sign of Russia's growing isolation, the country's finance ministry announced that foreign banks refused to process coupon payments of $649.2 million on its Eurobonds, and the payments were made in rubles.
- In the meantime, economic data painted a bleak picture. In the run-up to Russia's invasion of Ukraine, German factory orders fell for the first time in four months, highlighting concerns about Europe's largest economy's slowing growth. According to the most recent data from China, activity in the country's services industry contracted in March as a result of mobility restrictions imposed to combat a covid outbreak.
- ECB’s Lane: Can't respond to current high inflation, orientation is medium-term.
- In Ukraine talks, the Kremlin says there is still a rather long road ahead.
- EC Pres. von der Leyen: The new sanctions against Russia will not be the last.
- Pres. of EU Council Michel: Sanctions against Russian oil and gas will be needed sooner rather than later.
- RBA Assistant Gov Kent: The possibility of further supply-chain disruption in China.
