The Day at a Glance | March 10 2021

The Top

· Expectations of greater economic growth and inflation in the United States lead to an outflow of capital in emerging markets.

· US and China lay foundations for their leaders` first meeting.

· Rebound among US tech stocks spill over to world stock markets.

· Inflationary data in the United States will be made public today; the figure is expected to set at 0.4%, which would take inflation for the last twelve months to 1.7%.

Economic environment

Joe Biden`s 1.9 trillion dollar stimulus package will be voted on in Congress today. According to the OECD, it will contribute 1% to global growth. It will be Biden`s first “victory”. The program includes a 1,400 dollar payment to US citizens, 350 billion in aid to state and local governments and greater resources for vaccination programs. Joe Biden is expected to be able to sign the stimulus package as soon as next week. The massive relief bill – along with the swift vaccination program – maintain a positive outlook for the US economy. Some estimates even forecast that the world`s largest economy will grow above 7% this year.