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Ipreo Global ECM Review: The Week Ended March 23, 2018

In housing news, the MBA mortgage applications index for the week ended 3/16 fell 1.1%, below the prior-week’s 0.9% gain. Meanwhile, new home sales for the same month came in at 618,000, below both the prior-month’s upwardly revised 622,000 figure and consensus estimates of 620,000. Germany’s business climate index for March fell to 114.7 from 115.4 in the prior month. This is slightly higher than the 114.6 forecasted according to the Ifo Institute. Fear of trade conflict stemming from recent developments in U.S. trade policy is a heavy influence. The unemployment rate in Japan ticked up to a seasonally adjusted 3.70% in February, increasing marginally from the 3.68% rate reported in January. The 3.70% rate matched economists’ expectations.

Ipreo Global ECM Review: The Week Ended March 16, 2018

In U.S. economic news, CPI for the month of February reported 0.2% growth, matching the consensus estimates, butbelow the prior month’s 0.5% growth. Revised February data for the Eurozone showed inflation growth eased to 1.1%, following January growth of 1.3%. Japan’s industrial production dropped an adjusted 6.8% month-over-month in January, faster than the 6.6% fall reported earlier and below the 2.9% increase seen in December.

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