international news
1. Nick Timiraos, "Fed Speaker", wrote that Biden expressed optimism at a campaign event last week, saying that the Federal Reserve will cut interest rates soon. But its economic forecasts in Monday's budget delivered a different message: Interest rates won't be falling anytime soon, and markets need to rein in themselves.
2. The Biden administration’s 2025 budget is US$7.3 trillion. The US debt is expected to reach US$45 trillion in the next ten years. The US real GDP growth rate is expected to be 1.8% in 2025, 2.0% in 2028, and 2.2% in 2034; The Republican leadership of the U.S. House of Representatives expressed its rejection of Biden's budget proposal.
3. The Federal Reserve’s rescue tool BTFP has withdrawn from the stage, and the discount window has returned to the spotlight. The Fed hastily launched the Bank Term Funding Program (BTFP) a year ago amid heavy stress from the collapse of Silicon Valley banks, and the facility expired on Monday.
4. Japan’s revised GDP annual rate in the fourth quarter turned “positive”, which intensified rumors of the Bank of Japan raising interest rates. Japan’s Topix Index and Nikkei 225 Index once fell by 3% during the session.
5. ECB Governing Council member Kazmir: The ECB should wait until June before cutting interest rates for the first time. It is neither wise nor beneficial to rush into action.
6. MicroStrategy purchased 12,000 Bitcoins for US$821.7 million in cash; as of March 10, 2024, it held approximately 205,000 Bitcoins.
7. Russia is reported to be considering a multibillion-dollar tax increase after the election to fund its conflict with Ukraine.
8. Grid company E.DIS: Restore power connection to Tesla’s Greenheide factory in Germany.
9. Murdoch's News Corporation and two other companies are considering a joint acquisition of the British Daily Telegraph.
Among them, BTFP may become the trigger for a new round of Bitcoin correction. Traders should do a good job in position management.
