US Nonfarm Payrolls came in at 175k in February, exceeded the consensus of 149k and higher than January’s payrolls (+129k); unemployment rate ticked up to 6.7%, compared to consensus and January’s rate which were both at 6.6%. The data managed to re-established the upward momentum (March 10) but it was only
when the next big thing came up…
Jokowi for President. The declaration made by PDI-P sent euphoria on March 14, sending the JCI past layers of resistances as it soared 3.2% beyond 4,800 mark. The next day (March 15) the index hit this year’s peak at 4,903.50. Speculations now circulate on who will be appointed as Jokowi’s running mate in this year’s election.
Yellen Laid Out the Blueprint. The Fed did it again. Janet Yellen laid out the groundwork for the coming Fed’s rate rise. The Fed boss said that the central bank has dropped unemployment rate as one of its trigger for rate rise and that this year the FOMC will conclude its tapering campaign. With just $55 billion left in bond purchasing, it will take about six Fed meetings to cut it down to zero if the pace is to be maintained at $10bn each, or even faster if the FOMC chooses to step up the pace. About six months from there, the Fed may start raising rates – according to Yellen. Whether that was a slip-up by the Fed’s number one or not remains to be seen, but surely the statement knocked the JCI off its high…
Red Alert. Russia annexed Crimea after a referendum showed that almost all Crimeans chose to return to Russia after 60 years with Ukraine. The event triggered tensions between the West and Russia, leading to some sanctions imposed on Russia. The situations are still developing, but recently it was said that Putin has no plan to invade Ukraine and may prefer to take the diplomatic approach to settle the tensions. While the issue was initially negative, the impact to JCI is not expected to be prolonged and, as with other geopolitical issues, tend to be short-lived except
it will lead to a global conflict.
Tidak ada komentar:
Posting Komentar