Global Economic Monitor 220401

(Introduction)

[Markets]

•   Global: U.S., European stocks suffer worst quarter since pandemic

•   Metals: Aluminium heads for biggest quarterly gain since 1988

•   Grains: Soybeans fall to 1-month low on U.S. acreage forecast, corn firms

•   한국: 우크라 긴장 완화에 코스피 2,750대 상승 마감…기관 순매수

•   한국: 삼성전자 죽 쓰는데…반도체 장비주만 신났네

[Indicators]

•   US Feb. Personal spending·income: Inflation Weighed on Consumer Spending Growth in February

※   Annual inflation rose to 6.4% using the Federal Reserve’s preferred gauge

※   WSJ: U.S. Inflation Rises to 40-Year Peak in February by Fed’s Preferred Measure

※   WSJ: Inflation Could Create a Sticky Situation

•   US Weekly Jobless claims: U.S. Jobless Claims Edge Higher Amid Tight Labor Market

•   Eurozone Feb. Employment: Europe’s workers face bigger squeeze from real wage cuts

•   Germany Feb. Retail sales: German retail sales recover less than expected in February

•   UK Q4 GDP(final): UK economic growth in fourth quarter beats initial estimate

•   UK Mar. House prices: UK house prices rise at fastest pace in 18 years

•   China Mar. PMI: China’s manufacturing, services activity contract together for first time since Wuhan coronavirus outbreak

※   China’s official manufacturing purchasing managers’ index (PMI) fell to 49.5 in March, down from 50.2 in February

•   Japan Feb. Industrial production: Japan Feb. industrial output almost flat, car production recovers

•   India Q4 Current account: India’s Current Account Deficit Widens to Near Decade High

•   India Feb. Core industry production: India's Feb infrastructure output grows 3.7% year on year

•   한국 1분기 국세통계: 걷지못한 국세 100조 육박… 부가세 체납만 27조

•   한국 2월 사업체노동력: 숙박·음식업 종사자 4개월째 전년동기대비 증가

•   한국 2월 금융기관 가중평균금리: 가계대출 금리 연 4% 목전…6% 넘는 주담대도 나왔다

•   한국 2월 주택통계: 2월 주택매매량 전년 대비 50%↓…거래절벽 속 미분양 증가

•   한국 주간 아파트 가격(부동산원): "대통령 집무실 온다"…용산 아파트값 9주 만에 상승 전환

[News]

•   WSJ: Ukrainian Troops Push Forward as Russian Forces Regroup

※   Western officials say there are signs Russian President Vladimir Putin isn’t being told the truth about the war’s progress

•   WSJ: Russia Hands Control of Chernobyl Back to Ukraine, Officials Say

※   Russians’ departure ends a five-week occupation of the site of the 1986 disaster that killed more than 30 people and contaminated the surrounding countryside

•   WSJ: Ukraine War Set to Prompt NATO Countries to Raise Military Spending

•   WSJ: Ukrainian Factories Struggle as Russia’s Assault Rattles Supply Chains

•   WSJ: Russia Set for Steep Slump and Long Stagnation in Wake of Ukraine War

※   An analysis by a top regional development bank sees Ukraine’s economy shrinking more but rebounding sharply next year

※   EBRD: EBRD sees war on Ukraine causing major growth slowdown

•   WSJ: U.S. Sanctions Russian Tech Companies, Whole Sectors of Russian Economy

•   WSJ: Ukrainians Who Sheltered in the Mariupol Theater Made It a Thriving Village

•   WSJ: OPEC Sticks to Production Plan Despite Elevated Oil Prices Amid Ukraine War

※   Cartel agrees to keep small output increase despite rocketing prices

※   OPEC: 27th OPEC and non-OPEC Ministerial Meeting

•   WSJ: Biden to Draw Down Oil Reserves in Bid to Ease Gas Prices

※   U.S. will tap record 180 million barrels over six months; oil industry says president should instead remove barriers to energy investment

※   White House: FACT SHEET: President Biden’s Plan to Respond to Putin’s Price Hike at the Pump

•   WSJ: U.S. Oil Release Could Have Been More Strategic

•   WSJ: Upbeat Economic Outlook Aids Biden’s Deficit Push

•   WSJ: Following Fed’s Lead, Banks Shift Forecasts to Big Rate Increases

•   WSJ: Getting a Mortgage Gets a Little Easier

•   WSJ: Commodities Are Poised for Best Quarter in 32 Years

•   NYT: Faced with foreign pressure, Russians rally around Putin, poll shows.

•   NYT: Soaring Cost of Diesel Ripples Through the Global Economy

•   NYT: Can Home Prices and Interest Rates Soar at the Same Time?

•   NYT: Rising Wages Could Complicate America’s Inflation Cool-Down

•   NYT: Two Covid Problems

•   NYT: This Is What Happens When Globalization Breaks Down

•   NYT: Covid, Russia and Economy Put the ‘China Model’ to the Test

•   NYT: France’s Far Right Turn

•   NYT: Myanmar Junta’s Political Prisoners Since Coup Now Number 10,000

•   WP: Ukraine worries about disaster as Russia targets nuclear power plants

•   WP: Americans aren’t really buying into the ‘Putin price hike’

•   WP: Ukraine has widened the breach between U.S. and Persian Gulf countries

•   WP: Boris Johnson’s effusive support for Ukraine comes with complications

•   WP: What is the strategic oil reserve, and can it lower gas prices?

•   WP: A robot dog called Spot is helping restore the ancient city of Pompeii

•   FT: Putin issues decree requesting ‘unfriendly’ countries pay for gas in roubles

※   Russia’s president threatens supply disruption unless target nations comply

•   FT: Russia sanctions threaten to erode dominance of US dollar, says IMF

•   FT: Western powers oppose linking Ukraine peace talks to Russia sanctions relief

•   FT: Russia’s Ukraine war forges new unity of EU purpose on China

•   FT: Brussels treads fine line with China on Russia

•   FT: Putin ‘massively misjudged’ Ukraine war, says UK spy chief

•   FT: UK businesses face April ‘cliff edge’ as most pandemic support ends

•   FT: UK or EU law? Time to decide

•   FT: Meet the ‘crypto caucus’: the US lawmakers defending digital coins

•   FT: Hong Kong to stick with zero-Covid despite easing, says Lam adviser

•   FT: BoJ to boost bond buying even as yen suffers worst month since 2016

•   FT: Banks face new standards on carbon emissions disclosure

•   FT: Huawei faces dilemma over Russia links that risk further US sanctions

•   FT: The investigation that threatens to sink US solar

•   Bloomberg: U.S. Targets Russian Chipmaker in Fresh Round of Sanctions

•   Bloomberg: Governments Must Act to Ease Tight Labor Markets, IMF Study Says

※   IMF: Labor Market Tightness in Advanced Economies

•   Bloomberg: Biden Trade Agenda Criticized by Senators for Lack of Ambition

•   Bloomberg: Almost Half of U.S. Small Firms Are Raising Compensation

•   Bloomberg: Biden Embraces Oil as Ukraine War Overwhelms His Climate Agenda

•   Bloomberg: Euro zone growth barely positive in first half: ECB's de Guindos

•   Bloomberg: China’s Covid Lockdowns Strain Economy and Global Supply Chains

•   Bloomberg: Xi Keeps China Investors Guessing With Mystery Politburo Meeting

•   Bloomberg: China’s Crackdown on Hong Kong Democracy Intensified, U.S. Says

•   Bloomberg: China Says it Opposes U.S. Putting Its Firms on Security List

•   Bloomberg: China Weighs Raising Billions to Rescue Troubled Financial Firms

•   Bloomberg: U.S. Criticizes India on Russia Talks as Lavrov Visits Delhi

•   Bloomberg: Brazil’s Moro Leaves His Presidential Candidacy Up in the Air

•   Bloomberg: Australia Looks to Reduce Dependence on China Due to ‘Coercion’

•   Bloomberg: India Set to Miss Modi’s Ambitious 2022 Renewables Goal

•   Bloomberg: Bondholders Brace For Russian Expulsion From $842 Billion Club

•   Bloomberg: Transcript: Hugh Hendry On Why the World Still Can't Get Enough Dollar Assets

•   Bloomberg: Embattled U.S. Credit Faces Threat of Asian Buyers Staying Home

•   Bloomberg: Emerging Markets Cap Dismal Quarter Shaken by War, Inflation

•   Bloomberg: UBS Says Stock Bull-Market Intact Amid Worst Quarter Since 2020

•   Bloomberg: Russian Isolation Chills Debt Market for Ex-Soviet Neighbors

•   Bloomberg: Rubles-For-Gas Plan Explains Why Gazprombank Escaped Sanctions

•   Bloomberg: Russia Offers Discounts on Oil to India, One of Putin's Few Fuel Buyers

•   Bloomberg: Biden Wants Oil Companies to Pay Penalties on Unused Drilling Leases

•   Bloomberg: Oil Drillers Say Scarce Steel a Reason for Flat U.S. Output

•   Bloomberg: U.S. Oil Curve Flattens as Crude Release Blunts Supply Risk

•   Bloomberg: Soy Usurps King Corn as U.S. Farmers Dodge Pricey Fertilizer

•   Bloomberg: Apple Weighs More Memory Chip Suppliers, Including China

•   Bloomberg: Toyota Poised for Sales Victory Lap as Gas Prices Boost Hybrids

•   Bloomberg: Tesla's Big Addition of Electric-Car Superchargers in China Helps Boost Sales

•   Bloomberg: Challenges in Finding Renewable Energy Solutions Sustainable for Today, Tomorrow

•   Bloomberg Businessweek: Automation Comes to More Factories With Robot Subscription Services

•   Reuters: Putin targets enemies at home as his missiles strike Ukraine

•   Reuters: Russia bars more top EU officials in response to sanctions

•   Reuters: ECB concerned over indirect impact of Russia sanctions: Enria

•   Reuters: EU will do 'whatever it takes' to rebuild solar energy manufacturing in Europe

•   Reuters: Russia against U.S., NATO military presence near Afghanistan - TASS

•   Reuters: Taiwan studying Ukraine war tactics, discussing with U.S.

•   Reuters: IMF to start talks with Sri Lanka on loan request in coming days

•   Reuters: Analysis: End of an era in sight as euro area borrowing costs sweep above 0%

•   Reuters: Analysis: Governments want COVID vaccine developers to aim higher in hunt for better shots

•   Reuters: Analysis: U.S. and allies may find tapping stockpiles inadequate to plug Russian oil gap

•   Reuters: Analysis: U.S. stocks, bonds flash diverging signals as volatile first quarter ends

•   CNN: Signs of a housing bubble are brewing

•   NBC: One in 5 adults has invested in, traded or used cryptocurrency, NBC News poll shows

•   CNBC: U.S. sanctions global network of firms helping the Russian military evade export controls

•   CNBC: Take China and Russia’s ‘no limits’ relationship with a ‘grain of salt,’ says former PBOC advisor

•   CNBC: China’s zero-Covid policy tests small businesses in a make-or-break it year

•   Fox Business: Biden's pivot on US oil production draws ire from progressives, climate advocates

•   SCMP: Coronavirus: China’s small firms bemoan lack of support as Omicron wave threatens economic recovery

•   SCMP: China’s tourism industry braces for Ching Ming Festival with lockdowns and travel restrictions

•   SCMP: Coronavirus: Shanghai lockdown heaps pressure on China’s GDP growth, with ‘more uncertainties’ to come

•   SCMP: Coronavirus: Shanghai extends lockdown for areas where cases are found

•   SCMP: US-China tech war: top Chinese chip makers push ahead with expansion plans despite political tensions, talk of supply glut

•   Nikkei Asia: U.S. and Japan invite ASEAN in plan to avert next chip crisis

•   Nikkei Asia: Food inflation takes bigger bite in Japan, with bread leading way

•   Nikkei Asia: Ukraine war curtails pandemic's two-year PC boom

•   Mainichi: Japan's long-term gov't debt may be at worst level of $8 tril.

•   매경(P1): 다주택 양도세 중과, 1년간 면제 추진

•   매경: 인수위, 文정부에 선전포고…"징벌적 양도세 반드시 걷어낸다"

•   매경(P1): [단독] 중기부에 차관급 자영업 전담조직

•   매경(P1): 인수위 "대우조선 알박기…감사요청할 것"

•   매경(P1): 무서운 국민연금 한마디에…KT 대표 주총 전 스스로 물러났다

•   매경: "건설노조 갑질 멈춰라"…5년만에 뒤늦게 칼 빼든 정부

•   매경: 정말 다 오르네…4월부터 가스요금 평균 1.8% 인상

•   매경: [단독] OLED도 중국에 뺏길 판…정부, 전략기술 지정 추진

•   매경: 文정부 블랙리스트 수사, 산업부가 끝이 아니다

•   한경(P1): [단독] 산업부 통상 기능, 외교부로 간다…尹 정부 조직 개편안 윤곽

•   한경: 한덕수 "총리-부총리-금융위원장, 경제 원팀 구상은 바람직"

•   서경(P1): '수출 코리아' 허상…점유율 되레 줄었다

•   서경: 시장개입·反기업 '부메랑'…중국 車수출 50% 늘때 韓 19% 뚝

•   서경: 尹 “"수출입으로 먹고사는 나라…역동적인 경제 만들겠다"

•   서경(P1): 尹 직접 대못규제 뽑는다…'산업혁신전략회의' 신설

•   서경(P1): "새정부, 일자리 창출·노동 유연화로 성장률 높여야"

•   서경: "재정 일자리는 한계…노동 규제 개혁으로 민간 고용 늘려야"

•   서경: “2주간 80시간 일하면 금요일 휴무” SK하이닉스 ‘해피 프라이데이’ 도입

•   조선(P1): [NOW] 겹쳐놓거나 냉동차에… 기막힌 코로나 죽음들

•   조선: 올해 예산 美 17% 獨 19% 佛 8% 줄였는데… 한국은 되레 늘려

•   조선: ①세금으로 만드는 공공일자리 사업부터 줄여라

•   조선: [단독] 감사원, 왜곡 논란 빚은 文정부의 통계 감사

•   조선: [WEEKLY BIZ] “너에게 날아갈게” 3년 뒤엔 현실이다

•   조선비즈: “삼바·SK바사 부럽네”… 의료⋅바이오 뛰어드는 대기업

•   조선비즈: 힘 빠진 엔저(低) 경보… 산업계 “당장은 수출 피해 제한적”

•   조선비즈: 스마트폰 충전기 뺀 애플 조롱하던 삼성, 이제 와서 “돈 내고 사”

•   조선비즈: [5G 사용자 2000만]② 美·中에 밀린 단말·장비… ‘퍼스트무버’ 외친 5G+ 제자리

•   조선비즈: “적자국채 얼마나 줄일 수 있나”…尹인수위 ‘특명’에 고심하는 기재부

•   조선비즈: 30조 들인 삼성 中 시안 2공장 본격 가동… 전 세계 낸드 10% 생산

•   인베스트조선: 현대重, 대우조선 포기했다더니 EU 소송으로 명분쌓기?…소통 없는 일방통행

•   인베스트조선: 박정호 SK스퀘어 대표의 "ARM 사고 싶다" 발언…어떻게 봐야 할까

•   중앙: 한산한 5~11세 접종 첫날…“이미 걸렸는데…” vs “맞았는데 안 아파요”

•   중앙: 포스코, 첫 재택근무 중단…기업들 고민 커졌다

•   동아: [단독]인수위 TF, 집무실 이전 예산 새로 짜는 중

•   동아: 北 SLBM도 발사 징후… 신포조선소서 이상 동향

•   동아: [단독]거리두기 ‘10인-자정’ 가닥… 3월 코로나 사망 8172명, 암 앞질러

•   한국(P1): [단독] 법무부 "임대차 3법, 전면 재검토 필요" 인수위에 업무보고

•   국민: “집짓기 말고 신사업 찾아라”… 연어까지 키우는 건설사

•   서울: [단독] ‘영끌’해서 서울 집 산 중산층… 은행 빚 갚는 데 월소득 절반 쓴다

•   세계: “지난 10년간 추경재원 196조 중 지출 구조조정 비중은 10% 불과”

•   한겨레(P1): 유류세 추가 인하할 듯…홍남기 “내달 5일 인하 폭 결정”

•   경향(P1): 기침, 가래, 피로감 등 감염 후 한 달째…당신은 ‘롱 코비드’

•   머니투데이(P1): [단독]세계 최대 '냉각수' 공장 중단···삼성·하이닉스 반도체 생산 멈추나

•   머니투데이: [단독]삼성도 투자한 양자컴퓨팅·AI...인수위, 직접 챙긴다

•   머니투데이: [단독]인수위내 '공급망' NSC 역할론 부상 "경제안보 핵심사안"

•   머니투데이: [단독]인수위, 산은 간부들 줄줄이 호출…신구 권력 또 충돌

•   머니투데이: "연료비 연동제 한다면서 실적이 왜 이래" 뿔난 한전 주주들

•   파이낸셜뉴스: 조선 빅3, 석달만에 올 수주목표 36% 달성… 흑자전환 눈앞

•   아시아경제(P1): [단독]인수위, 15억초과 주택 주담대 허용 검토..‘대출봉쇄 기준선’ 상향

•   디지털타임스(P1): 오늘부터 `백신접종 완료 입국자` 격리 해제

•   디지털타임스(P1): 인수위 "2차 추경 尹정부 출범후 국회 제출할 것"

•   이데일리(P1): 편의점에서 뭘 파는지도 모르는 환경부.."일회용품 쓰지마"

•   이데일리: 한은 3년째 사상 최대 이익…'5만원권 환수율 뚝, 통안채 발행 감소 탓'

•   연합: 오후 9시까지 전국서 27만1599명 확진…어제보다 4만1497명 적어

•   위키트리: [단독] 쌍방울그룹 흑역사 ...이번에는 쌍용차 인수?

•   전자신문(P1): 반·전·차 ‘제조 빅4’ 올해 설비투자 무려 74兆

•   전자신문: 미디어텍 'AP', 퀄컴·삼성 제쳤다

[Opinions]

•   Project Syndicate(Simon Johnson, Oleg Ustenko): Russia Is Finished as a Major Energy Power

•   Project Syndicate(Bertrand Badré, Benoit Mercereau): Investing for Impact and Profit

•   Project Syndicate(Ricardo Hausmann): How to Eat Russia’s Oil Lunch

•   Project Syndicate(Maurice Obstfeld): The G20 Must Speak Truth to Putin

•   Project Syndicate(Nina L. Khrushcheva): Putin's War Will Destroy Russia

•   Project Syndicate(Daniel J. Arbess): Finding Putin's Money

•   FT(Editorial Board): China’s Indo-Pacific fears show need for diplomacy

•   FT(Editorial Board): Putin’s gas ploy may rebound on Russia

•   FT(Petro Poroshenko): How the west can help Ukraine next

•   FT(Gillian Tett): Supply chain crises force corporate America into a ‘what if’ mindset

•   FT(Edward Luce): Biden, Putin and the danger of Versailles

•   FT(Robert Armstrong): The end of globalisation as we know it

•   FT(John Thornhill): Industrialisation of AI offers great promise and some peril

•   FT(Simon Edelsten): Emerging markets — where to put your money with Russia at war

•   FT(Costas Milas): Higher UK rates? Not so fast.

•   WSJ(Kimberley A. Strassel): Why We Are Covid Broke

•   WSJ(David Satter): How to Break Through Putin’s Propaganda in Russia

•   WSJ(James Broughel): Cutting Red Tape Could Advance Biden’s Agenda

•   WSJ(Karen Elliott House): Biden Needs to Make Up With Saudi Arabia, or China Will Gain

•   NYT(Farhad Manjoo): It’s Scary How Dominant Apple Has Become. But How Scary?

•   NYT(Spencer Bokat-Lindell): Will the Ukraine War Spell the End of Globalization?

•   NYT(Olga Tokariuk, Tikhon Dzyadko): What Putin’s Propaganda Looks Like From Russia and Ukraine

•   NYT(Serge Schmemann): Putin ‘Just Threw Over the Chess Board,’ and Russians Feel Shame and Dismay

•   WP(Editorial Board): Biden’s release of U.S. oil reserves is the right call

•   WP(Editorial Board): Are we ready for another covid wave? Not if Congress keeps stalling.

•   WP(Editorial Board): Three scenarios for nuclear risk over Ukraine — and how NATO can respond

•   WP(E.J. Dionne Jr.): Biden’s budget reflects the challenges Democrats face

•   WP(Marc A. Thiessen): Russia can’t win in Ukraine. But Biden has no strategy for victory.

•   WP(Michael Gerson): How long will the West stay aligned against Putin?

•   WP(Fareed Zakaria): Russia is the last multinational empire, fighting to keep its colonies

•   WP(Sebastian Mallaby): The West is winning the economic battles in Putin’s war against Ukraine

•   WP(Jason Willick): Biden sends Putin a muddled nuclear message

•   Bloomberg(Editorial Board): Biden Budget Proposal Is Dead on Arrival But Still Revealing

•   Bloomberg(Mohamed A. El-Erian): Ukraine War Hastens Investor Migration to Private Markets

•   Bloomberg(David Fickling): America’s Oil Reserve Weapon Risks Misfiring

•   Bloomberg(Tyler Cowen): How Do Interest Rates Affect the Economy? No One Really Knows

•   Bloomberg(Clive Crook): Europe Should Tax Russian Gas, Not Ban It

•   Bloomberg(John Authers): Russia's Energy War of Attrition With EU Will See Which Economies Break First

•   Bloomberg(Andy Mukherjee): Russia Tries to Tempt India into Its Version of SWIFT with a Cheap Oil Deal.

•   Bloomberg(Liam Denning): Putin Would Be Crazy to Cut Off Europe’s Gas. Or Desperate.

•   Bloomberg(Andreas Kluth): War Makes It Even More Important for Poland and Hungary to Reconcile With the EU

•   Bloomberg(Therese Raphael): Ukraine War Postpones Boris Johnson Reckoning on Partygate, NHS, Cost of Living

•   Bloomberg(Bobby Ghosh): Arab-Israeli Summit Masks Stalled Progress in Mideast Diplomacy

•   Bloomberg(Tim Culpan): It Would Be Folly for China to Bust Russia Sanctions

•   Bloomberg(Mark Gilbert, Marcus Ashworth): Tackling Inflation: Zero Is a Good Destination for ECB Rates

•   CNN(Julia Chatterley): World Bank President: How we can ease food shortages

•   MarketWatch(Jurica Dujmovic): I'm putting a solar array on my home. Here's what I found out about the technology, storage and cost

•   Reuters(John Kemp): China’s cooling economy takes some heat out of commodity prices

Global Economic Monitor 220331

(Introduction)

[Markets]

•   Global: Stocks rally fizzles, bond markets ponder risks for U.S. economy

※   Euro STOXX 600 falls 0.6%

※   U.S. bond market signals economic pain ahead

※   Treasury 10-year yields lower

※   Ukraine-Russia negotiations earlier buoyed stocks

※   Wall Street down

•   Metals: Aluminium rises on revived Russian supply fears, weaker dollar

•   Grains: Wheat, corn bounce as Ukraine conflict persists

•   한국: 우크라 협상 진전 기대 속 코스피 2,740대 강보합 마감

[Indicators]

•   US Q4 GDP(final): U.S. economic growth accelerates in fourth-quarter; corporate profits slow

•   US Mar. Employment(ADP): U.S. Companies Added 455,000 Jobs in March, ADP Report Shows

•   US Weekly Mortgage rates·applications: Mortgage refinance demand plunges 60%, as rates hit their highest level since 2018

•   US Weekly Gasoline demand: U.S. Gasoline Demand Drops for Third-Straight Week

•   Eurozone Mar. Economic sentiment: Russian Invasion Deals Blow to European Business Confidence

•   Germany·Spain Mar. CPI: Inflation in Germany and Spain reaches record levels, driven by Russia’s war.

•   Japan Feb. Retail sales: Japan’s Retail Sales Drop Adds to Fears of Stalled Recovery

•   한국 3월 산업활동: 코로나 대유행에 2월 생산 두달째 감소…"경기회복 주춤"

[News]

•   WSJ: Russia Plays Down Progress in Peace Talks, Intensifies Attacks in Eastern Ukraine

※   Russian forces also struck around Kyiv, while Ukraine said it fought off advances in the eastern Donbas region

•   WSJ: Europe’s Expulsion of Russian Officials Aims to Disrupt Alleged Spy Networks

•   WSJ: EU Is Considering New Russian Bank Sanctions, Diplomats Say

※   European Union officials are also seeking to stop oligarchs’ families and use of cryptocurrencies from undermining sanctions

•   WSJ: Europe Woos Qatar for an Alternative to Russian Gas

•   WSJ: The U.S. Sanctions a Russian Oligarch—but Exempts His Companies

•   WSJ: Biden’s Global Quest for Oil Triggers Political Pushback

•   WSJ: How High Energy Prices Could Help Both the Climate and the U.S.

•   WSJ: Biden Administration Launches Website Aimed at Adapting to Covid-19 Risks

•   WSJ: Despite High Covid-19 Case Counts, Asian Nations Learn to Live With the Virus

•   WSJ: Shanghai’s Covid Surge Sinks Hopes of Speedy Reopening

※   Authorities said Wednesday there were close to 6,000 new local cases in China’s financial capital

•   WSJ: SEC Proposes New Disclosure Requirements for SPACs

•   WSJ: Big Stock Sales Are Supposed to Be Secret. The Numbers Indicate They Aren’t.

•   WSJ: Putin’s Scheme to Rally the Ruble Could Run Out of Gas

•   WSJ: The LNG Export Boom Is Draining U.S. Natural-Gas Supplies and Lifting Prices

•   WSJ: Waymo to Send Driverless Cars Through San Francisco

•   WSJ: This Robot Promises to Make the Backpack Obsolete. Do You Need One?

•   NYT: U.S. intelligence suggests that Putin’s advisers misinformed him on Ukraine.

•   NYT: OPEC and Russia are set to meet as the war continues to roil the oil market.

•   NYT: Covid Vaccines Did Not Protect Adolescents as Effectively During the Omicron Surge

•   WP: How Ukraine could lose land but still win the war with Russia

•   WP: Why Russia’s military is bogged down by logistics in Ukraine

•   WP: Ukraine’s refugee exodus tops 4 million — nearly 10% of prewar population

•   WP: Myanmar’s rebellion, divided, outgunned and outnumbered, fights on

•   FT: Germany and Austria plan for gas rationing over payment stand-off with Russia

※   Berlin activates emergency law as west refuses to comply with Moscow’s demand for roubles

•   FT: US casts doubt on new Kremlin claims of curtailed Kyiv offensive

•   FT: Johnson and Raab at odds over partygate scandal

•   FT: UK unlikely to authorise big expansion of onshore wind farms

•   FT: How would Joe Biden’s proposed ‘billionaire tax’ work?

•   FT: Biden to use Korean war-era powers to boost supply of EV battery minerals

•   FT: Beijing moves to strengthen Moscow ties in wake of Ukraine invasion

•   FT: China reverses roles in arms trade with Russia

•   FT: Japan must hit inflation target via domestic demand, Kishida aide insists

•   FT: Saudi Arabia sends $5bn to help Egypt’s economy

•   FT: War in Ukraine: what explains the calm in global stock markets?

•   FT: Renewable energy pushes ahead of coal for the first time

※   Ember: Global Electricity Review 2022

•   Bloomberg: Russia to Pay $2 Billion Bond in Dollars to Foreign Investors

•   Bloomberg: Russia Offers SWIFT Alternative to India for Ruble Payments

•   Bloomberg: White House Plays Down Yield Curve as U.S. Recession Indicator

•   Bloomberg: U.S. Labor Reshuffle Has More Room to Run, Fueling Higher Wages

•   Bloomberg: Fed’s George Favors ‘Steady, Deliberate’ Series of Rate Hikes

•   Bloomberg: Fed’s Barkin Says Half-Point Hike Depends on Economy in May

•   Bloomberg: Fed Keeps Wary Eye on Yield Curve While Signaling Hikes on Track

•   Bloomberg: U.S. Trade Chief Says New Focus Needed as China Hasn’t Changed

•   Bloomberg: ECB’s Lagarde Says Costs of War Increase the Longer It Lasts

•   Bloomberg: Traders See ECB Raising Its Key Rate to Zero in October

•   Bloomberg: Broadbent Says Traders Should Rely on Data Over BOE Comments

•   Bloomberg: Eight in 10 U.K. Adults Report Rise in Cost of Living in March

•   Bloomberg: U.K.’s Johnson Sees Small Nuclear Reactors Running by 2030

•   Bloomberg: U.K. Covid Cases Edge Back Up as Hospitalizations Rise

•   Bloomberg: Spain to Allow Rationing After Supermarket Shortages

•   Bloomberg: Russian Foreign Minister in China on First Visit Since War

•   Bloomberg: Borscht Inflation Shows Russia’s Price Shocks Hard to Escape

•   Bloomberg: China’s PBOC Vows to Boost Confidence, Support Economy

•   Bloomberg: BOJ’s Kuroda Plays Down Yen Impact of Bond-Buying Operations

•   Bloomberg: Jokowi Reiterates He Will Obey Constitution on Term Extension

•   Bloomberg: South Africa’s Coronavirus Death Toll Passes Grim Milestone

•   Bloomberg: Yield-Curve Inversion Rarely Upends a Stocks Rally, Truist Says

•   Bloomberg: Global Corporate Bonds Lost $1 Trillion, and Risks Are Rising

•   Bloomberg: OPEC Mulls Snubbing IEA Oil Data as Political Rift Deepens

•   Bloomberg: China’s Lockdowns Are Hurting Electronics Demand, TSMC Head Says

•   Bloomberg Businessweek: Profits Soar as U.S. Corporations Have Best Year Since 1950

•   Reuters: OPEC+ likely to stick to existing oil output deal, sources say

•   Reuters: World Bank chief says Gulf producers role critical in dampening oil volatility

•   Reuters: Exclusive: Russia to keep gas contract currency unchanged in rouble switch, sources say

•   Reuters: EXCLUSIVE U.S. warns India, others against sharp rise in Russian oil imports -official

•   Reuters: WHO says most likely scenario shows COVID severity will decrease over time

•   Reuters: ECB tells banks to cut lending to indebted borrowers after binge

•   Reuters: Saudi Arabia may raise May crude prices to Asia to new record levels

•   Reuters: Factbox: Recession after fleeting yield curve inversion? It is complicated

•   Reuters: Analysis: Cost of living woes boost "phoenix" Le Pen in race for French presidency

•   AP: How China’s TikTok, Facebook influencers push propaganda

•   CNBC: Recession warning from Germany’s top economic advisors as Putin’s gas deadline nears

•   CNBC: Putin might be seen as a ‘mad dictator’ — but he has built powerful barriers to prevent a coup

•   CNBC: EU to pressure China at virtual summit over its stance on Russia-Ukraine war, sources say

•   CNBC: Energy production vs. climate protection: Americans are split along party lines

•   CNBC: 2022 could be Latin America’s year as it fills the economic void left by Russia. Here’s how to play it

•   CNBC: BofA says iPhone demand still strong despite reports of production cutback

•   MarketWatch: What stock-market investors need to know about the bond market’s recession signal

•   Caixin: In Depth: China’s Battle to Stabilize Its Economy

•   Nikkei Asia: Toyota group production, overseas sales hit record for February

•   Nikkei Asia: Analysis: Shanghai lockdown affects Xi's plans to promote allies

•   매경(P1): [단독] 인수위 만류에도 또 알박기…주인없는 대우조선 대표 임명

•   매경(P1): [단독] 소형빌라·다세대, 주택 수 합산에서 뺀다

•   매경(P1): 이창용 "경제 3가지 위기 현실화"…美금리인상·우크라·코로나

•   매경(P1): [단독] 구본준 LX 회장 'M&A 본능'

•   매경(P1): 매경이코노미스트賞 박예나·최재원 교수

•   매경: [단독] 작은기업만 퍼주던 'R&D 지원' 대수술

•   매경: [단독] 尹, 청와대 조직 슬림화…정책실장도 없앤다

•   매경: 기재부, 퍼주기 민간지원사업에 칼 댄다

•   매경: 7월부터 국민연금 보험료 최대 2만6100원 인상

•   매경: "가계부채·자영업 대출·부동산 금융이 3대 뇌관"

•   매경: 삼성·美웨스턴디지털 맞손…차세대 스토리지 기술 주도

•   매경: "단숨에 살균·공기청정"…KT, 로봇사업 승부수

•   매경: '쌍용차 인수 무산' 에디슨EV, 상폐 갈림길

•   매경: "쇠젓가락 들고 다녀야하나"…편의점서 일회용품 못쓴다는데

•   매경: [Science in Biz] 폐플라스틱서 기름짜내는 도시유전…'이윤 이상의 가치' 찾는다

•   매경: [Industry Review] 전기차 질주만큼 중요한 내연기관車의 '질서 있는 퇴장'

•   한경(P1): SK하이닉스, 반도체 설계 1위 ARM 인수 검토

•   한경(P1): [단독] 민주당 "다주택 양도세 장기 보유자엔 부담 완화"

•   한경: [단독] 선거 다가오자…민주 "다주택 양도세 보유기간 따라 완화"

•   한경(P1): 원자재 가격 요동…ETN 10조 돌파

•   한경: 기재부, 추경 난색에…尹측 "1초도 아깝다"

•   한경: '금융硏 출신' 尹정부 경제정책 주축으로 부상

•   한경: 금리 오르자 자금 조달 망설이는 기업들

•   한경: 집무실부터 추경까지 대립각… 민주 ‘反尹 드라이브’

•   서경(P1): [단독] 인수위 '배드뱅크' 추진…"291조 자영업 대출 관리"

•   서경(P1): 美석좌 앤드루 여 "尹정부, 인·태 지역서 韓의 안보 역할 훨씬 늘려야"

•   서경(P1): 기업 72% "ESG 중 환경이 가장 중요"

•   서경: 혁신기술에 규제부터 찾는 韓…글로벌 빅테크에 '안방'도 내줄판

•   서경: "돈 많이 푼다고 혁신생태계 조성 안돼…기득권집단 폐쇄적 카르텔 해소 시급"

•   서경: [단독]경제사령탑에 '협치 적임' 추경호 유력…최중경·임종룡도 거론

•   서경: [단독] ‘인수위 정책 제안’ 전경련이 가장 빨랐다

•   서경: 반도체 업황 개선…"6월부터 삼성전자의 시간"

•   서경: [단독] 4.4조 'IFC 쟁탈전'…갤러리아도 가세

•   조선(P1): 새정부 총리 한덕수 유력

•   조선(P1): 규제 풀다 집값 뛸라… 尹의 ‘부동산 딜레마’

•   조선: 재건축은 벌써 꿈틀… 보유세 낮추자니 다주택자 집 안팔까봐 걱정

•   조선: 대출규제 완화도 문제… LTV 풀어도 DSR이 발목

•   조선: 민주당 반대에도… 인수위는 연일 “임대차 3법 폐지”

•   조선비즈: EU 기업 공급망 실사 의무화에 韓 긴장… “110개사 영향권”

•   조선비즈: 벌크선 운임 ‘롤러코스터’… 혼란스러운 건화물 시장

•   조선비즈: 文정부, 기업 매각 줄줄이 실패… 尹정부 ‘발등에 불’ 됐다

•   조선비즈: 두산중공업 등 45개사, 오는 4월 의무보유등록 해제된다

•   중앙: 문 정부서 나랏빚 400조 넘게 늘어, 1인당 2000만원 육박

•   중앙: 미국까지 불똥 튄 외교부·산업부 싸움…인수위도 경고

•   동아(P1): [단독]“규제 개혁, 巨野 손잡고 2년내 승부 봐야”

•   동아(P1): 인수위 “확진 정점 지나면 영업시간 제한 전면폐지”

•   동아: [단독]“일자리 창출이 최우선 과제… 부총리급 규제개혁부 설치를”

•   문화(P1): “노동경직성 해소해야 일자리 는다”

•   서울: 동네 빵·칼국수도 오르나… “우크라發 밀값 폭등에 버티기 힘들어”

•   서울: [단독] 檢, 발전사 후임 사장 특혜 채용 의혹 겨눴다

•   서울: “올여름 새 변이 출현 가능성… 3차 접종 효력 떨어져 4차 논의를”

•   세계: “경쟁제한 우려 없다”… SK하이닉스 ‘키파운드리’ 인수 승인

•   한겨레(P1): [단독] 미·일, 한·미·일 3국 군사훈련 거듭 제안…문재인 정부 ‘수용 불가’

•   한겨레: 전경련 “집무실 이전땐 GDP 3.3조↑”…재계조차 “낯간지러워”

•   경향(P1): 전 세계 풍력·태양광 에너지 비중 10.3%…한국은 4.7%

•   경향: ‘미래 먹거리’ AI 로봇 시장 경쟁 가열

•   머니투데이: "한달 만에 또 두줄, 재감염 아니래요"…통계에서 빠진 사람들

•   헤럴드경제(P1): ‘세종 제2집무실’ 속도…제2관저 설치 검토

•   헤럴드경제: 尹도 힘 실은 전기차 대중화…주유소 ‘충전하는 날’ 빨라진다

•   헤럴드경제: 인수위-정부, ‘52시간제 유연화’ 검토 착수

•   파이낸셜뉴스(P1): 중대재해법 '한계'…"처벌보다 지원 늘려야" [현산 8개월 영업정지]

•   파이낸셜뉴스: 원·엔 환율 여전히 900원대 그쳐... 장기화땐 韓기업 수출경쟁력 약화 [일본경제 '엔저 부메랑']

•   파이낸셜뉴스: 1만명 항체양성률 조사… 코로나 ‘빅데이터’로 관리한다[새정부 과학방역 로드맵]

•   파이낸셜뉴스: 대기업 주도 M&A 활발… 작년 결합금액 33조로 182% 급증

※   공정위: 2021년 기업결합 심사 동향 및 주요 특징

•   아시아경제(P1): '탈원전 백지화' 외친 尹…‘에너지 헌법’ 수립 2년 앞당기나

•   아시아경제: ‘에너지 헌법’ 대수술 예고한 산업부…탈원전 대못 뽑는다

•   디지털타임스(P1): 홍남기 "물가상황 엄중… 모든수단 동원 대응할 것"

•   디지털타임스: 철강제품 가격 또 줄인상… 제조업 `공포의 4월`

•   이데일리: 한노총, 인수위 만나 "尹 노동공약 반대"…강행시 대정부 투쟁 예고

•   이데일리: 尹당선인 신규 원전 추진 우려에…지자체 벌써부터 `들썩`

•   이데일리: 국내 LPG값 폭등 조짐...“kg당 200원 안팎 인상되나”

•   연합: 오후 9시까지 전국 31만3096명 확진…어제보다 10만1072명 줄어

•   이뉴스투데이: [단독] 유가 폭등에 LNG 발전단가 300% 올랐다…“탈원전 여파”

•   노컷뉴스: [단독]靑 경제수석, '산업부 블랙리스트' 당시 총괄 위치

•   전자신문(P1): 중소 팹리스, AI반도체 7200억 ‘그림의 떡’

[Opinions]

•   Project Syndicate(Nouriel Roubini, Brunello Rosa): Is the New Stagflation Policy-Proof?

•   Project Syndicate(Richard Haass): Winners and Losers in Putin’s War

•   Project Syndicate(Shamil Ibragimov): The War in Ukraine Is a Battle of Principles

•   Project Syndicate(Yves Leterme): COVID-19’s Lessons for Democracies

•   FT(Editorial Board): The pitfalls of a peace deal for Ukraine

•   FT(Gillian Tett): The true cost of the west’s attention deficit disorder

•   FT(Tony Barber): Ukraine war is an opportunity for Europe to reform itself

•   FT(Robert Armstrong): ESG, Russia, and the SEC

•   FT(Anne Simpson): Why the SEC is right to make climate risk disclosure mandatory

•   FT(Helen Thomas): This crisis could be the making of Europe’s carbon market

•   FT(Alan Beattie): The EU and UK’s trade policies are both weakened by Brexit

•   FT(Lex): US wealth tax: Biden seeks deepest and most tightly stitched pockets

•   FT(Lex): Russian gas: Putin’s rouble move will damage the currency long term

•   WSJ(Editorial Board): What’s Down With the Yen?

•   WSJ(Editorial Board): Taxes, Taxes and More Taxes

•   WSJ(Editorial Board): America’s Declining Military

•   WSJ(Daniel Henninger): Biden Saves Ukraine From Russia—by the Inch

•   WSJ(Karl Rove): Biden’s Gaffes Grate on Voters

•   WSJ(Joshua Muravchik): International Order Is on the Line in Ukraine

•   WSJ(Bruce Gilley): Ditch the Global Minimum Tax Grab

•   WSJ(Samir Puri): Russia Could Still Salvage Victory in Ukraine

•   NYT(Thomas L. Friedman): How to Defeat Putin and Save the Planet

•   NYT(Bret Stephens): What if Putin Didn’t Miscalculate?

•   WP(Greg Sargent): Trump could end up getting away with all of it

•   Bloomberg(John Authers): Markets Need to Lose the ‘Peace in Our Time’ Reflex

•   Bloomberg(Karl W. Smith): Biden’s Billionaire Tax Would Punish Long-Term Investors

•   Bloomberg(Therese Raphael, Sam Fazeli): How Does Covid Affect Diabetes, the Brain and Long Covid?

•   Bloomberg(Paul J. Davies, Jonathan Levin): Yield Curve Inversion: Banks Aren’t Sweating Bond Market's Red Flag Yet

•   Bloomberg(Andrea Enria, Sam Woods): The ECB and BoE Issue Rare Joint Warning on Excessive Leverage

•   Bloomberg(Andrea Enria, Sam Woods): The ECB and the BOE Issue a Joint Warning on Excessive Leverage

•   CNN(Senator Markey, Mark Wolfe): Ditching fossil fuels makes even more sense now

•   Fox News(Michael R. Pompeo): War in Ukraine shows why world needs US energy dominance