Macro Briefing: 29 March 2023

* Taiwan’s president heads to US for visit, provoking China
* Fed’s Barr: there’s a ‘need’ for stronger bank regulation after SVB collapse
* BlackRock forecasts that investor bets on Fed rate cuts this year are wrong
* US Consumer Confidence Index ticks up in March, holding at middling range
* US electricity from renewables exceeds coal-based output for first time
* Amazon reportedly eyeing purchase of AMC movie theater chain
* US trade deficit in goods widened modestly in February
* US home prices continue to decelerate in January, easing to +2.5% annual pace:

US broad money supply continues to sink deeper into negative year-over-year comparisons. M2 money growth contracted 3.1% for the week through March 6 vs. the year-ago level — far below previous declines since at least the early 1980s, based on Federal Reserve data.