Macro Briefing: 21 March 2023

* Chinese leader Xi praises Putin in Moscow as Ukraine war grinds on
* Japan prime minister makes surprise visit to Ukraine
* Japan prime minister announces new Indo-Pacific plan during India visit
* French government survives no-confidence votes re: pension reform
* JPMorgan CEO Jamie Dimon leads efforts for First Republic Bank rescue
* Amazon will cut an additional 9,000 jobs
* Fed should continue rate hikes, says chief economist for S&P global ratings
* Fed to hike interest rates by 1/4 point tomorrow via futures market forecast:

Regional bank stocks rise in first day of trading week, offering support for cautious optimism that the worst of the banking turmoil may have passed. Morningstar reports: “It appears that the risk of regional banks being placed into receivership and wiping out the equity value has greatly diminished.”