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Trump postponed threatened strikes against Iranian energy infrastructure and power plants for five days, pending the outcome of talks with Iran to end the war. Iran's semi-official local media denied any talks had taken place: BBG
The Trump administration is telling foreign officials and others that it will not reschedule a summit between the president and Chinese leader Xi Jinping until the Iran war ends. Politico
Donald Trump’s new tariff plans risk getting bogged down in protracted legal challenges as the president relies on obscure laws to wage his trade war after the top court in the US ruled many of his previous duties illegal. FT
The BoJ is laying the groundwork for tweaks to its policy language in April, keeping alive the chance of a near-term interest rate hike as the weak yen and Middle East conflict pile inflationary pressures on the economy.
Japanese companies have agreed to raise wages by more than 5% for a third consecutive year, early results from annual labor talks showed on Monday, reflecting sustained gains in pay that policymakers see as key to fostering durable economic growth. RTRS
A Cuban official said the country is preparing for a possible military assault as Trump increases the economic pressure on the country. BBG
LaGuardia Airport was closed until at least 2 p.m. after an Air Canada Express plane collided with a fire truck shortly after landing. Two pilots died in the crash. BBG
Truckers are being “crushed” by the surge in diesel expense, and US consumers will soon feel the increase as the whole supply chain is forced to adjust prices higher to maintain profitability. WSJ
Kevin Warsh is facing one of the most awkward Federal Reserve leadership transitions in decades. The economy has grown more complicated than when he promised interest-rate cuts last year while campaigning for President Trump to nominate him for the job. Even before the war in Iran sent energy prices higher, the Fed’s preferred inflation measure was heading in the wrong direction. The war threatens to push inflation higher still in the coming months, and investors now view rate increases to be more likely than cuts this year. WSJ
ARE WE OVERSOLD? That has been one of the most frequent questions this week – and there is not a ton of reassuring evidence just yet. A tactical bounce is clearly possible given recent price action, but the broader setup does not yet point to capitulation. Locally, only ~14% of S&P stocks have hit oversold levels. For context, that figure reached over 50% in April ’25 and north of 40% during Q3 ’22: Goldman
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