{"id":299883,"date":"2026-02-24T14:58:08","date_gmt":"2026-02-24T14:58:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/299883\/"},"modified":"2026-02-24T14:58:08","modified_gmt":"2026-02-24T14:58:08","slug":"trade-risks-and-fed-signals-weigh-bbh","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/299883\/","title":{"rendered":"Trade risks and Fed signals weigh \u2013 BBH"},"content":{"rendered":"

Brown Brothers Harriman\u2019s (BBH) Elias Haddad notes the Dollar is slightly firmer, mainly due to Japanese Yen weakness, with US equities<\/a> stabilizing after an AI-driven selloff. The bank highlights potential risk sentiment drag from new US global tariffs and possible trade frictions, while Fed<\/a> Governor Waller\u2019s comments and upcoming ADP and confidence data shape expectations for the next FOMC decision.<\/p>\n

Tariffs, Fed rhetoric and data focus<\/p>\n

“USD is a little firmer, largely reflecting broad JPY weakness. S&P 500 futures point to a steadier open after the benchmark fell 1% yesterday driven by the so-called AI scare trade. In parallel, the US Supreme Court\u2019s tariff ruling could stoke trade friction, posing a drag on broader risk sentiment.”<\/p>\n

“Fed Governor Christopher Waller sees even odds of a 25bps cut at the next March 17-18 FOMC meeting. Waller said \u201cif the good labor market news<\/a> of January is revised away or evaporates in February, it would support my position at the FOMC’s last meeting, that a 25-basis-point reduction in the policy rate was appropriate, and that such a cut should be made at the March meeting.\u201d Fed funds futures price-in nearly zero chance of a cut in March.”<\/p>\n

“ADP private employment change for the four weeks to February 7 is up next (1:15pm London, 8:15am New York). The last report showed that for the four weeks ending January 31 private employers added an average of 10.25k jobs a week. On a side note, the January ADP jobs print was up 22k while non-farm private sector payroll (NFP) growth was much stronger at 172k.”<\/p>\n

“The February Conference Board Consumer Confidence index is the other data highlight (3:00pm London, 10:00am New York). Consumer confidence is seen recovering to 87.1 after falling to 84.5 in January, the lowest level in more than a decade. Pay attention to consumer\u2019s views of the labor market, which worsened in January.”<\/p>\n

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)<\/p>\n","protected":false},"excerpt":{"rendered":"Brown Brothers Harriman\u2019s (BBH) Elias Haddad notes the Dollar is slightly firmer, mainly due to Japanese Yen weakness,…\n","protected":false},"author":2,"featured_media":299884,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":{"0":"post-299883","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-new-zealand","11":"tag-newzealand","12":"tag-nz"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/299883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=299883"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/299883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/299884"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=299883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=299883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=299883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}