Reports
Agriculture, manufacturing and nuclear stand out in India's budget
As we anticipated in our India budget preview, Finance Minister Nirmala Sitharaman struck a balance between growth-supporting measures and easing the country's long-term debt burden. Middle-class tax cuts grabbed the headlines. But the budget also addressed Prime Minister Narendra Modi's priorities in agriculture, labor-intensive manufacturing and exports. Changes to the electricity market were also of note: India wants more nuclear energy, and is liberalizing rules in this sector to attract more private and foreign capital.
Reports
Trump's looming tariff threats on Canada, Mexico and China
Less than two weeks after his inauguration, President Trump followed through on his promises and announced 25% tariffs on Canada and Mexico, as well as a 10% tariff on Chinese imports.
Reports
Sticky US supercore inflation backs up Powell's caution on wages and easing
Inflation is very much back on the Federal Reserve's radar. When the central bank left rates unchanged in late January, Governor Jerome Powell indicated that the Fed was in no rush to ease policy until there are substantial changes in labor and consumer-price trends. By contrast, just weeks ago, markets had viewed relatively benign US inflation data with a sigh of relief.