Macro important news and events:
European Commission President von delaine proposed a new round of sanctions against Russia, including banning coal imports and preventing Russian ships from entering European ports, and imposing a comprehensive transaction ban on four major Russian banks. The proposal is part of the fifth wave of sanctions launched by the EU since Russia launched special military operations. This proposal needs to be unanimously approved by the 27 EU Member States.
Italy, Denmark, Sweden, France, Portugal and other European countries decided to expel some Russian diplomats, expelling about 150 Russian diplomats in the past two days; The EU declared 19 Russian diplomats "unwelcome". Russia responded that Europe's expulsion of Russian diplomats was "short-sighted" and would respond to it.
Federal Reserve governor brennard said that the Federal Reserve may rapidly shrink its balance sheet as soon as may, and it is expected that the contraction rate of its balance sheet will be much faster than the previous recovery rate. The adjustment in May needs to exceed the neutral policy to curb inflation. The Fed can adjust its policy at each meeting.
San Francisco Fed chairman Daley said that in addition to raising interest rates, the Fed will also reduce the degree of policy easing by reducing its balance sheet. The Fed can start to shrink its balance sheet as soon as its May meeting. Daley had previously suggested raising interest rates by 50 basis points in May. The eurozone's service sector PMI recorded 55.6 in March, higher than the expected 54.8, the highest since November last year. Us ism non manufacturing PMI in March was 58.3, expected to be 58.4, with the previous value of 56.5; In March, the final value of PMI of Markit service industry was 58, and the expected and initial values were 58.9.
On April 4, the number of new positive infections in Shanghai exceeded 10000 for the first time, reaching 13354. Since March, more than 73000 cases of positive infections have been reported in this round of epidemic in Shanghai
