• Global markets remained tense this week as the continuing standoff between Russia and the West on the issue of Crimea weighed on sentiment.
• Chinese data on exports, industrial production and retail sales disappointed with the numbers for the January/February period painting a picture of an economy that’s decelerating at a worrying pace.
• Unless the geopolitical situation deteriorates rapidly early next week, the Fed is likely to continue to trim bond buying by $10bn to $55bn per month, remaining of the view that much of the weakness in recent economic indicators has been weather related and economic growth will accelerate with the spring thaw.
• The acceleration could be helped along should the recent Senate proposal to extend jobless benefits retroactively for another five months pass Congress. See Bottom Line
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