Top-of-mind economic news as we start the week:
— The Federal Reserve raised its key interest rate for the first time since 2019 by 25 basis points; more rate increases expected in 2022 to fight inflation.
— President Biden will attend NATO summit on March 24 and meet with EU leaders to discuss Ukraine invasion; EU not yet sanctioning Russian energy, as 40% of EU gas comes from Russia.
— Yields on 10-year US Treasury bonds rose to 2.2%, the highest level since May 2019; 30-year mortgage rates climbed above 4%.
— The Conference Board, a global trade group for corporations, expects the US economy to grow 3% in 2022, despite headwinds from higher interest rates, commodity prices.
— Chile issued $2 billion worth of sustainability-linked bonds; interest on bonds is tied to the country’s performance on sustainability goals.
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