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FinanceVIEW 4 Biden to bar U.S. banks from rouble debt primary market Reuters 6 minutes read President Joe Biden will issue an executive order on Thursday authorizing the U.S. government to sanction any sector of the Russian economy and barring U.S. banks from participating in the primary markets for rouble-denominated bonds. It does not however prevent them from buying the debt in secondary markets, Reuters reported read more . Here is a selection of quotes on the subject: TOM DIGALOMA, MANAGING DIRECTOR, SEAPORT GLOBAL HOLDINGS, GREENWICH, CONNECTICUT (email) Treasury yields are falling due geo-political risks coming from the escalation of Russia/Ukraine conflict, ....
President Joe Biden will issue an executive order on Thursday authorizing the U.S. government to sanction any sector of the Russian economy and barring U.S. banks from participating in the primary markets for rouble-denominated bonds. ....
US Wall Street’s main event of the week will be Fed Chair Powell’s testimony on Capitol Hill. Powell will have two days to answer questions on the Fed’s dovish strategy and at what point rising Treasury yields pose a risk to the recovery. Another disappointing weekly jobless claims figure points to a weak February payrolls report and that should keep the Fed on autopilot in the short-term. House Democrats are planning to move President Biden’s COVID relief bill forward with a vote. Expectations are still high for conservative Democrats to support the bill’s passing in the Senate by mid-March. The price tag of the bill might come down and it seems unlikely the minimum wage hike to $15 will get enough support. ....
US Optimism grows for the US economy as the COVID-19 vaccine rollout appears poised to provide every American who wants to get vaccinated a chance to get one by April. The holiday surge is behind us and cases and hospitalizations continue to trend lower. The South African variant remains the biggest risk as it makes its way across several states. COVID vaccines appear less effective to the South African variant, but optimism remains we won’t see widespread lockdowns. On the data front much attention will fall on flash PMIs and retail sales. Manufacturing and services PMI readings are expected to soften in the preliminary February readings. Economists are anticipating the first rise in retail sales since September. The FOMC will release the minutes to the January meeting. We’ve heard recently from Powell so the Minutes might only provide limited insights. ....