International Markets Update

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• US non-farm production fell last quarter at is fastest pace in two years. Despite increased employment, output was flat and productivity fell a.....

Executive Summary

• US non-farm production fell last quarter at is fastest pace in two years. Despite increased employment, output was flat and productivity fell at a 2% annualized rate.


• The spotlight remained on the Eurozone in February as investors paid close attention to economic data, as well as political developments, to get an idea of which direction the region was headed.


• In an effort to end decades of deflation the Bank of Japan doubled its inflation target to 2%.


• Two Chinese manufacturing indexes showed a slower-than-estimated pace of expansion, a signal the nation’s economic recovery may be losing steam.


• India’s headline inflation declined sharply to 6.62% in January from 7.18 % in December – its slowest pace in three years.


• Russia’s inflation rate climbed in January dimming the prospects of an early interest rate reduction despite pressure from the Kremlin for cuts.

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International Markets Update

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