Briefings

Archive March 2025

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Week InAdvance: March 31, 2025

Sun Mar 30 Clocks sprang forward as most of Europe, including the UK, goes onto Daylight Savings Time. | Mon Mar 31 Nationwide strike in Belgium. China's factory activity.| Tue Apr 1 April Fool's Day. US jobs report. ECB AI conference. Australia rate decision. | Wed Apr 2 Deadline for US reciprocal tariffs. | Thu Apr 3 ECB publishes account of March policy meeting. NATO foreign ministers meet. US tariffs of 25% on car imports are set to take effect. | Fri Apr 4 US monthly jobs report. Ambrosetti workshop in Italy. | Sat Apr 5 Washington’s TikTok ban begins. | Sun Apr 6 Start of new tax year in the UK. Daylight Savings Time ends in Australia.

 

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Week InReview: March 28, 2025

Stocks fall amid new tariffs.

Stocks fell after the US pushed ahead with tariffs on automakers, reinforcing concern about a widening trade war and offsetting data that showed faster-than-estimated growth. Bonds also signaled concerns about the impact of tariffs on inflation as short-dated Treasuries outperformed longer ones.

 

Chinese President Xi Jinping vowed to improve market access at a meeting with a group of global business leaders in Beijing, in an effort to boost investor sentiment as rising tariffs fuel uncertainty for the economy and international trade.

 

Shares in Asia slide on concerns about looming US tariffs, led by losses in Japan and South Korea. Gold rises to a record on haven demand. Global investors are cutting back risk ahead of next week’s announcements on levies, while keeping cash ready to pounce the moment opportunities arise.

 

Mainland Chinese stocks edge down, faring better than regional peers. President Xi Jinping vowed to improve market access at a meeting with a group of global business leaders in Beijing, in an effort to shore up investor sentiment.

 

The US is pushing to control all major future infrastructure and mineral investments in Ukraine, a move that would give it enormous power to control investments in projects including roads and railways, ports, mines, oil and gas, and extraction of critical minerals.

 

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Week InAdvance: March 24, 2025

Mon Mar 24 Indirect Ukraine-Russia ceasefire talks. | Tue Mar 25 China's Boao Forum for Asia begins. | Wed Mar 26 UK CPI. WEF symposium in Hong Kong. | Thu Mar 27 SEC AI roundtable. | Fri Mar 28 US personal income and spending. | Sun Mar 30 European daylight savings time begins. British Summer Time begins. Mothering Sunday. Eid al-Fitr (end of Ramadan).

 

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Week InReview: March 21, 2025

Global stocks stumble.

Global stocks stumbled as a batch of downbeat earnings fanned fresh concerns in a market already grappling with a US trade war. Chinese equities extended their slide from a three-year high, with investors citing a lack of fresh catalysts after a blistering rally. 

 

Stocks in Asia fall as the dollar gains amid concerns over US corporate earnings. Shares of FedEx — considered an economic barometer — sank in after-hours trading as the firm cut its profit outlook. US equity futures edge down, while Chinese and Hong Kong stocks underperform.

 

The euro weakens against the greenback and European equity contracts drop. EU leaders tussled over weapons deliveries to Kyiv and who would represent them in US-led diplomacy as the bloc struggled to formulate a Ukraine strategy.

 

US stocks fell as sentiment remains fragile a week after the S&P 500 slipped into a correction and ahead of the expiry of an estimated $4.5 trillion of options contracts on Friday in an event known as triple witching. US Treasuries consolidated gains in a choppy session.

 

South Korean chemicals companies are racing to tap new markets after racking up hundreds of millions of dollars in losses in the face of a deluge of capacity from China, their biggest market.

 

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Week InAdvance: March 17, 2025

Mon Mar 17 St. Patrick’s Day around the world on the feast day of the patron saint of Ireland. | Tue Mar 18 Major League Baseball’s 2025 season opens in Tokyo. | Wed Mar 19 US Fed rate decision. Japan rate decision. | Thu Mar 20 Vernal Equinox. EU summit. UK rate decision. Switzerland rate decision. | Fri Mar 21 Triple Witching. SEC's crypto panel holds roundtable. | Sat Mar 22 World Wildlife Fund for Nature’s Earth Hour. | Sun Mar 23 China Development Forum.

 

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Week InReview: March 14, 2025

Stocks get a reprieve.

US equity futures rebound from yesterday’s sharp selloff. The S&P 500 has tumbled about 4% since Monday and is set to cap a fourth week of losses. Gold rose to a record, surpassing $3,000 an ounce for the first time. 

 

Chinese stocks surged, with the CSI 300 Index jumping 2.4%, on expectations of more government support. Officials from several ministries plan to hold a press conference on Monday on measures to boost consumption. 

 

A global stock selloff eases in Asian hours. US equity futures, Treasury yields and cryptocurrencies recover from sharp declines at the start of the trading day. In the US Monday, the S&P 500 dropped 2.7%. The Nasdaq 100 lost 3.8%.

 

US-China talks on trade and other issues are stuck at lower levels, and people familiar with the matter said. Both sides are talking past each other and failing to agree on the best way to proceed.

 

The euro edges higher against the greenback, while European equity futures and bund contracts gain. Germany’s Greens have demanded tougher rules for defense spending.

 

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Week InAdvance: March 10, 2025

Mon Mar 10 China's retaliatory tariffs. CERAWeek energy conference. EU FinMins meet. | Tue Mar 11 ECOFIN meets in Brussels. Meeting in Saudi Arabia between US and Ukrainian officials. | Wed Mar 12 Basel Committee meets. Key US inflation data. 'The ECB and its Watchers' in Frankfurt. | Thu Mar 13 Holi, the two-day Hindu festival of colors begins, which celebrates spring's arrival and the triumph of good over evil. | Fri Mar 14 US Congress tries to avoid a government shutdown. | Sun Mar 16 St. Patrick’s Day parade in London.

 

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Week InReview: March 7, 2025

US stock futures tick higher.

US stock-index futures are ticking higher after a steep drop in the market yesterday. European stocks are following the US lower

 

European equity futures retreat with Asian stocks amid uncertainty over Trump’s tariffs. US equities failed to stage a rebound even after a decision by Trump to delay levies on Mexican and Canadian goods covered by the North American trade deal. Meanwhile, China’s exports hit a record so far this year as higher US tariffs, and the threat of more to come, drove frontloading of shipments.

 

The euro climbs against the greenback. The EU agreed to begin discussions on a long-term reform of its fiscal rules to allow member states to spend more on defense, following a push from Germany. The Bloomberg Dollar Spot Index edges down.

 

Asian equities were primed for early declines on Friday after US stocks tumbled amid whipsawing tariff headlines. The rout in German bunds slowed down, with 10-year yields rising a modest 4bps, while short-end US yields declined before Friday’s payrolls report.

 

The US exempted Mexican and Canadian goods covered by the North American trade agreement known as USMCA from its 25% tariffs, offering major reprieves to the US’s two largest trading partners.


 

 

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Week InAdvance: March 3, 2025

Mon Mar 3 Paris Fashion Week begins. | Tue Mar 4 Pre-Lent celebrations: Carnival, Mardi Gras, Shrove Tuesday, and Pancake Day (delete according to your nationality). Start of China's PPCC, the high-profile but largely ceremonial advisory body. | Wed Mar 5 Ash Wednesday. Fed's Beige Book. Opening of the National People’s Congress, China’s rubber-stamp parliament. | Thu Mar 6 Fed, OCC, FDIC meet. SEC panel meets on impact of AI. Special EU summit on Ukraine. ECB rate decision. 28th annual World Book Day in the UK. | Fri Mar 7 US nonfarm payrolls. 60th anniversary of “Bloody Sunday” in Selma, Alabama. | Sat Mar 8 International Women’s Day. | Sun Mar 9 Daylight Saving Time begins. China publishes CPI and PPI inflation rate data.

 

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