Fed Holds Rates Unchanged (As Expected), 'Dots' Signal Hawkish Bias As Warsh Takes Over

US, Philippines Launch Their 'Biggest Ever' Balikatan Drills With Large Japanese Contingent Authored by Dave DeCamp via AntiWar.com, The US and the Philippines on Monday launched what’s being billed as the "biggest ever" Balikatan Exercise, an annual military drill that, for the first time, includes a significant contingent of Japanese troops as Tokyo increases its military activity in the region, ramping up tensions with China. The drills are scheduled to take place from April 20 to May 8 and will involve more than 17,000 troops, including about 1,400 Japanese military personnel. US Army photo Importantly, exercises...

Europe's Auto Bloodbath Deepens: Jaguar Land Rover To Axe 4,000 Jobs After VW Targets 50,000 More Job Cuts Europe's industrial base faces yet another setback, with Bloomberg reporting that Jaguar Land Rover plans to cut 4,000 jobs over the next two years. Britain's largest carmaker is confronting intensifying Chinese competition and adding to the broadening wave of planned and ongoing layoffs across European automakers. The job cuts represent about 10% of Jaguar Land Rover's global workforce and is part of a $2.3 billion savings plan, Chief Executive Officer P B Balaji...

Futures, Global Markets Rise With US Markets Closed For President's Day Stocks gained, bitcoin tumbled and bonds steadied after Friday's cool CPI data reinforced expectations that the Fed will cut interest rates on multiple occasions this year. With US markets closed for the Presidents’ Day holiday and mainland China’s markets closed for Lunar New Year holidays, trading was muted on Monday. As of 9:00am ET, futures on the S&P 500 added 0.4% and Europe’s Stoxx 600 index rose 0.4% as banking shares rebounded from a sharp decline last week. German bunds and Treasury futures were steady after US...