1-2hrs ago:
*Putin: Russia Will Keep Rates Unchanged for Special Mortgage Programmes Despite a Recent Surge in Cost of Lending
*Kremlin Spokesman Confirms Chubais Resigned, Says Did So of His Own Accord – RIA
https://twitter.com/Podolyak_M/status/1506627954180296712 - 'The RF has opened an anti-EU front. Putin announced the gas payments transfer to Ru and the rejection from $/€, leading to operational failures and pressure on public opinion - second step to escalation. First one is threat of strikes on Eu logistics centers for the help to UA'
*Two Additional Yachts in Southern France Linked to Russian Oligarchs Immobilised by French Authorities – French Media Reports
*Russian Authorities Have a Week to Implement the New Ruble System for the Gas Buyers
*Russia’s Deputy PM Novak: It Is Too Early to Discuss the Necessity to Change Russia’s OPEC+ Quota as a Result of Sanctions.
*Russia’s Deputy PM Novak: In April-May, Russian Firms Predict Logistical and Payment Issues with Energy Supplies.
*Russia’s Deputy PM Novak: I Don’t Know of Anyone in OPEC+ Proposing to Increase Oil Output Beyond the Plan.
Past Hour:
*Zelenskiy Says French Companies Must Leave Russian Market
*Zelenskiy Tells French Lawmakers to Hold Minute of Silence on Ukraine War
*Zelenskiy Asks France for More Military Help for Ukraine
*Zelenskiy Says Inclusion of Ukraine in the European Union Will Be a Historic Decision
*European Delegate to the UN: We Are Witnessing the Fastest Refugee Crisis in Europe Since World War II
*Russia’s Novak: Sanctions Undermine Trust in Trading Oil in Dollars and Euros – RIA
*Russia’s Novak: EU Discussion to Stop Buying Russian Oil Is Itself Negative for Oil Market – RIA
*Russia’s Novak: The Market Will Reconfigure If EU Stops Buying Russian Oil – RIA
*US Senate Majority Leader Schumer Calls for Senate Passage of the Russia Trade Bill This Week.
*Fed’s Mester: I Have No Concerns That Rate Increases Are Going to Push the US Economy into Recession.
*Fed’s Mester: My Forecast Is Conditional on War Not Escalating a Lot.
*Fed’s Mester: The Fed Must Make Some 50 Basis-Point Rate Hikes in 2022.
*Analyst APK-Inform Sees Ukraine 2022 Grain Crop 54.6% Down to 38.9 Mln Tonnes Due to Russian Invasion
*Analyst APK-Inform Sees Ukraine 2022 Wheat Crop 53.7% Down to 14.9 Mln Tonnes
*Analyst APK-Inform Sees Ukraine 2022 Corn Crop 55.8% Down to 18.5 Mln Tonnes
*European Gas Surges 34% as Putin Seeks Payments in Rubles.
*Italy Government Economic Adviser: Italy Is Bringing to the European Council on Thursday a Proposal to Cap Gas Prices.
*Italy Government Economic Adviser When About Support for Gas Price Cap Proposal: We Have Portugal, France and Spain, We Need to Get Germany.
*Italian Government Economic Advisor: Another Suggestion Rome Would Present to the EU Council on Thursday Is to Use EU Bonds to Pay Shared Spending, Including Defence.
*Italy’s Government Economic Advisor: The Government’s Goal Is to Establish a Single Network.
*Italy’s Government Economic Advisor, When Asked If Italy Will Pay for Energy in RUB: I Think We Will Most Likely Pay in Euros.
*Bloomberg Users Expect U.S. Crude Stockpile Drop of 623K BBL
*Polish Delegate to UN: Rising Energy and Fuel Prices Will Increase World Food Crisis
*US Gulf Coast Percent Refinery Utilization Rises in Latest Week to Highest Since January 2020 – EIA.
*EU’s von der Leyen: Will Talk to Biden About Prioritizing LNG
*EC Pres. Von der Leyen: We Are Aiming at Having Commitment from US for Additional Supplies in LNG for the Next Two Winters.
*Chinese foreign minister to make surprise visit to India after clash two years ago- source
https://www.reuters.com/world/chinese-foreign-minister-visit-india-friday-bloomberg-quint-2022-03-23/
Now:
*7,000-15,000 Russian troops likely killed in Ukraine, per a NATO official briefing reporters on condition of anonymity
*Total Losses -Including Wounded, Captured or Missing- Could Be in the 30,000–40,000 Range
Twitter thread - much more detail here: https://twitter.com/jseldin/status/1506646337856675842
*Bank of Russia: March Inflation Expectations Rise to 18.3%
*Russia’s Nabiullina Tried to Quit Before Putin Renominated Her
*Ukraine’s President Zelensky: UK’s Prime Minister Johnson & I Spoke, and He Assured Me of Assurance of His Support.
https://twitter.com/ZelenskyyUa/status/1506653207476506635
ECB’s Visco: Amid the War, Markets Have Been Relatively Calm.
*Putin & Israeli’s PM Bennett Spoke About Ukraine via Phone. – RIA
*German Gas Association “Zukunft Gas” – Have Noted with Great Irritation News of Trade in Roubles, Effects of Which Cannot Yet Be Assessed – RTRS
*German Gas Association – However Putin’s Move Gives the Impression That Sanctions Are Having an Effect and Putin Is Coming Under Increasing Pressure – RTRS
*Danone to Keep Essential Dairy Production in Russia: DJ
*Steel Giant Set to Be First Major Russian Debt Default of Ukraine War – WSJ
https://www.wsj.com/livecoverage/ru...t-reach-issuer-s-account-eNIcyC1ggR56yDz70CgR
*Mayor of Kyiv: World War III Has Already Begun and Ukraine Is the Beginning
*Russia States It Is Having Some Issues Funding Embassies Abroad. – IFX.
*Swedish Defence Minister Says to Provide Ukraine with Additional 5,000 Anti-Tank Weapons – TT News Agency
*US Delegate to the Security Council: Russian-Ukrainian Conflict Has Tragic Repercussions on Global Food Security
*US Republican Senator Capito: We Need to Look at Other Ways to Pressure Russian Tycoons.
*US Republican Senator Capito: We Need to Unleash Our Energy Innovation.
*US Republican Senator Capito: Europe Is Buying Us Coal and Building Two LNG Terminals.
*Western Official: Resignation of Russian Official Chubais Encouraging, but May Do Little to Undermine President Putin’s Iron Grip
*Gazprom Books Marginal Day-Ahead Yamal Link Capacity to Germany.
*Norway Finance Ministry Says Is Preparing for a Situation in Which Jens Stoltenberg Cannot Become Norway Central Bank Governor at End-2022 as Planned
https://twitter.com/ragipsoylu/status/1506660815390351361
https://twitter.com/PriapusIQ/status/1506660809757319177
*Putin: Russia Will Keep Rates Unchanged for Special Mortgage Programmes Despite a Recent Surge in Cost of Lending
*Kremlin Spokesman Confirms Chubais Resigned, Says Did So of His Own Accord – RIA
https://twitter.com/Podolyak_M/status/1506627954180296712 - 'The RF has opened an anti-EU front. Putin announced the gas payments transfer to Ru and the rejection from $/€, leading to operational failures and pressure on public opinion - second step to escalation. First one is threat of strikes on Eu logistics centers for the help to UA'
*Two Additional Yachts in Southern France Linked to Russian Oligarchs Immobilised by French Authorities – French Media Reports
*Russian Authorities Have a Week to Implement the New Ruble System for the Gas Buyers
*Russia’s Deputy PM Novak: It Is Too Early to Discuss the Necessity to Change Russia’s OPEC+ Quota as a Result of Sanctions.
*Russia’s Deputy PM Novak: In April-May, Russian Firms Predict Logistical and Payment Issues with Energy Supplies.
*Russia’s Deputy PM Novak: I Don’t Know of Anyone in OPEC+ Proposing to Increase Oil Output Beyond the Plan.
Past Hour:
*Zelenskiy Says French Companies Must Leave Russian Market
*Zelenskiy Tells French Lawmakers to Hold Minute of Silence on Ukraine War
*Zelenskiy Asks France for More Military Help for Ukraine
*Zelenskiy Says Inclusion of Ukraine in the European Union Will Be a Historic Decision
*European Delegate to the UN: We Are Witnessing the Fastest Refugee Crisis in Europe Since World War II
*Russia’s Novak: Sanctions Undermine Trust in Trading Oil in Dollars and Euros – RIA
*Russia’s Novak: EU Discussion to Stop Buying Russian Oil Is Itself Negative for Oil Market – RIA
*Russia’s Novak: The Market Will Reconfigure If EU Stops Buying Russian Oil – RIA
*US Senate Majority Leader Schumer Calls for Senate Passage of the Russia Trade Bill This Week.
*Fed’s Mester: I Have No Concerns That Rate Increases Are Going to Push the US Economy into Recession.
*Fed’s Mester: My Forecast Is Conditional on War Not Escalating a Lot.
*Fed’s Mester: The Fed Must Make Some 50 Basis-Point Rate Hikes in 2022.
*Analyst APK-Inform Sees Ukraine 2022 Grain Crop 54.6% Down to 38.9 Mln Tonnes Due to Russian Invasion
*Analyst APK-Inform Sees Ukraine 2022 Wheat Crop 53.7% Down to 14.9 Mln Tonnes
*Analyst APK-Inform Sees Ukraine 2022 Corn Crop 55.8% Down to 18.5 Mln Tonnes
*European Gas Surges 34% as Putin Seeks Payments in Rubles.
*Italy Government Economic Adviser: Italy Is Bringing to the European Council on Thursday a Proposal to Cap Gas Prices.
*Italy Government Economic Adviser When About Support for Gas Price Cap Proposal: We Have Portugal, France and Spain, We Need to Get Germany.
*Italian Government Economic Advisor: Another Suggestion Rome Would Present to the EU Council on Thursday Is to Use EU Bonds to Pay Shared Spending, Including Defence.
*Italy’s Government Economic Advisor: The Government’s Goal Is to Establish a Single Network.
*Italy’s Government Economic Advisor, When Asked If Italy Will Pay for Energy in RUB: I Think We Will Most Likely Pay in Euros.
*Bloomberg Users Expect U.S. Crude Stockpile Drop of 623K BBL
*Polish Delegate to UN: Rising Energy and Fuel Prices Will Increase World Food Crisis
*US Gulf Coast Percent Refinery Utilization Rises in Latest Week to Highest Since January 2020 – EIA.
*EU’s von der Leyen: Will Talk to Biden About Prioritizing LNG
*EC Pres. Von der Leyen: We Are Aiming at Having Commitment from US for Additional Supplies in LNG for the Next Two Winters.
*Chinese foreign minister to make surprise visit to India after clash two years ago- source
https://www.reuters.com/world/chinese-foreign-minister-visit-india-friday-bloomberg-quint-2022-03-23/
Now:
*7,000-15,000 Russian troops likely killed in Ukraine, per a NATO official briefing reporters on condition of anonymity
*Total Losses -Including Wounded, Captured or Missing- Could Be in the 30,000–40,000 Range
Twitter thread - much more detail here: https://twitter.com/jseldin/status/1506646337856675842
*Bank of Russia: March Inflation Expectations Rise to 18.3%
*Russia’s Nabiullina Tried to Quit Before Putin Renominated Her
*Ukraine’s President Zelensky: UK’s Prime Minister Johnson & I Spoke, and He Assured Me of Assurance of His Support.
https://twitter.com/ZelenskyyUa/status/1506653207476506635
ECB’s Visco: Amid the War, Markets Have Been Relatively Calm.
*ECB’s Visco: To an Extent, Inflation Has Been a Surprise.
*ECB’s Visco: We Are Seeing Supply and Negative Demand Shock Simultaneously.
*ECB’s Visco: Addressing the Supply Disruptions Is a Fiscal Responsibility.
*ECB’s Visco: In Europe, We Are Not Seeing Excessive Increases in Wages.
*ECB’s Visco: For the ECB, All Options Are Open.
*ECB’s Visco: We Will Continue to Maintain Attractive Funding Conditions.
*ECB’s Visco: Balance Sheet Reduction Won’t Happen Soon.
*ECB’s Visco: When Making Decisions, the ECB Considers the Exchange Rate.
*ECB’s Visco: We Are Seeing Supply and Negative Demand Shock Simultaneously.
*ECB’s Visco: Addressing the Supply Disruptions Is a Fiscal Responsibility.
*ECB’s Visco: In Europe, We Are Not Seeing Excessive Increases in Wages.
*ECB’s Visco: For the ECB, All Options Are Open.
*ECB’s Visco: We Will Continue to Maintain Attractive Funding Conditions.
*ECB’s Visco: Balance Sheet Reduction Won’t Happen Soon.
*ECB’s Visco: When Making Decisions, the ECB Considers the Exchange Rate.
*Fed’s Daly: The Real Neutral Rate Is 0.5%, So the Nominal Neutral Is 2.5%.
*Fed’s Daly: 2.5% Is the Amount We Want to March Rates to, and Then Perhaps Slightly Above It.
*Fed’s Daly: In 2023, Some Increase in the Policy Rate Above the Neutral Line Will Be Needed.
*Fed’s Daly: If Inflation Moves Up, We Will Need to Be More Restrictive.
*Fed’s Daly: A Little Restrictive May Be Just Right If Inflation Comes Down.
*Fed’s Daly: We Are Prepared to Do Whatever It Takes to Get Price Stability.
*Fed’s Daly: We Will Need to Be More Restrictive If Inflation Moves Up.
*Fed’s Daly: Fed Policymakers Project the Frontloading of Rate Increases.
*Fed’s Daly: Another Rate Hike Worth of Tightening Would Be Delivered Alongside Balance Sheet Adjustments.
*Fed’s Daly: Compared to Previous Cycles, This Is Quite a Bit of Front Loading.
*Fed’s Daly: Data Will Indicate Whether 50 Bps Is the Right Recipe.
*Fed’s Daly: If We Need to Raise Rates by 50 Bps, We Will Do So.
*Fed’s Daly: I Have Everything on the Table
*Fed’s Daly: Data Will Help Us Determine How Much Is Necessary
*Fed’s Daly: Although Conflict Is a Modest Risk to Growth, We Do Not Expect It to Deliver Stagflation.
*Fed’s Daly: It Is Too Soon to Call Whether or Not We Will Have a Global Recession.
*Fed’s Daly: Very Limited Chance of U.S Recession
*Fed’s Daly: I Do Anticipate Global Growth to Slow Down.
*Fed’s Daly: It’s Not Unusual That We Can Achieve a Soft Landing, Which Is What We Are Aiming for.
*Fed’s Daly: Moving Too Quickly on Tightening May Be Disruptive, Which We Are Trying to Avoid.
*Fed’s Daly: I Don’t Want to Be Disruptive by Moving Too Quickly on Tightening.
*Fed’s Daly: Shocks Related to the Pandemic Is the Reason Inflation Is Too High, Not the Fed’s Framework.
*Fed’s Daly: 2.5% Is the Amount We Want to March Rates to, and Then Perhaps Slightly Above It.
*Fed’s Daly: In 2023, Some Increase in the Policy Rate Above the Neutral Line Will Be Needed.
*Fed’s Daly: If Inflation Moves Up, We Will Need to Be More Restrictive.
*Fed’s Daly: A Little Restrictive May Be Just Right If Inflation Comes Down.
*Fed’s Daly: We Are Prepared to Do Whatever It Takes to Get Price Stability.
*Fed’s Daly: We Will Need to Be More Restrictive If Inflation Moves Up.
*Fed’s Daly: Fed Policymakers Project the Frontloading of Rate Increases.
*Fed’s Daly: Another Rate Hike Worth of Tightening Would Be Delivered Alongside Balance Sheet Adjustments.
*Fed’s Daly: Compared to Previous Cycles, This Is Quite a Bit of Front Loading.
*Fed’s Daly: Data Will Indicate Whether 50 Bps Is the Right Recipe.
*Fed’s Daly: If We Need to Raise Rates by 50 Bps, We Will Do So.
*Fed’s Daly: I Have Everything on the Table
*Fed’s Daly: Data Will Help Us Determine How Much Is Necessary
*Fed’s Daly: Although Conflict Is a Modest Risk to Growth, We Do Not Expect It to Deliver Stagflation.
*Fed’s Daly: It Is Too Soon to Call Whether or Not We Will Have a Global Recession.
*Fed’s Daly: Very Limited Chance of U.S Recession
*Fed’s Daly: I Do Anticipate Global Growth to Slow Down.
*Fed’s Daly: It’s Not Unusual That We Can Achieve a Soft Landing, Which Is What We Are Aiming for.
*Fed’s Daly: Moving Too Quickly on Tightening May Be Disruptive, Which We Are Trying to Avoid.
*Fed’s Daly: I Don’t Want to Be Disruptive by Moving Too Quickly on Tightening.
*Fed’s Daly: Shocks Related to the Pandemic Is the Reason Inflation Is Too High, Not the Fed’s Framework.
*Putin & Israeli’s PM Bennett Spoke About Ukraine via Phone. – RIA
*Senior EU Official: Europe Paying in Roubles for Russian Energy Could Be Discussed by EU Leaders
*German Gas Association “Zukunft Gas” – Have Noted with Great Irritation News of Trade in Roubles, Effects of Which Cannot Yet Be Assessed – RTRS
*German Gas Association – However Putin’s Move Gives the Impression That Sanctions Are Having an Effect and Putin Is Coming Under Increasing Pressure – RTRS
*Danone to Keep Essential Dairy Production in Russia: DJ
*Steel Giant Set to Be First Major Russian Debt Default of Ukraine War – WSJ
https://www.wsj.com/livecoverage/ru...t-reach-issuer-s-account-eNIcyC1ggR56yDz70CgR
*Mayor of Kyiv: World War III Has Already Begun and Ukraine Is the Beginning
*Russia States It Is Having Some Issues Funding Embassies Abroad. – IFX.
*Swedish Defence Minister Says to Provide Ukraine with Additional 5,000 Anti-Tank Weapons – TT News Agency
*US Delegate to the Security Council: Russian-Ukrainian Conflict Has Tragic Repercussions on Global Food Security
*US Republican Senator Capito: We Need to Look at Other Ways to Pressure Russian Tycoons.
*US Republican Senator Capito: We Need to Unleash Our Energy Innovation.
*US Republican Senator Capito: Europe Is Buying Us Coal and Building Two LNG Terminals.
*Western Official: Resignation of Russian Official Chubais Encouraging, but May Do Little to Undermine President Putin’s Iron Grip
*Gazprom Books Marginal Day-Ahead Yamal Link Capacity to Germany.
*Norway Finance Ministry Says Is Preparing for a Situation in Which Jens Stoltenberg Cannot Become Norway Central Bank Governor at End-2022 as Planned
https://twitter.com/ragipsoylu/status/1506660815390351361
https://twitter.com/PriapusIQ/status/1506660809757319177
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