Daily Economic Briefing

J.P. Morgan's daily briefing highlights that resilient US labor market data suggests a Fed tightening cycle, while trade policy enters a state of flux with the transition from Section 122 to Section 301 tariffs. Global central banks, including the ECB, are maintaining hawkish stances to combat sticky inflation.

Key Takeaways

• 1.US employment reports signal a broadening of business spending and hiring, reducing growth downside risks but prompting expectations for Fed tightening.
• 2.US administration is shifting trade policy toward Section 301 tariffs, replacing expiring Section 122 measures, leading to heightened trade policy uncertainty.
• 3.ECB is likely to hike rates by 25bp despite growth concerns, while emerging market central banks in Turkey, Peru, and Philippines are adjusting policy to address inflation and FX pressures.

Table of Contents

• Daily Economic Briefing
• Focus: Tariffs back in focus as Section 122 expiry nears
• Quantitative Economic Dashboard (QED): Summary
• US activity tracker
• Inflation tracking
• Policy rate tracking

Document Preview

Page 1 of 1

Subscribe for full accessStart Free Trial