Morning Brief: Xinjiang Import Ban Starts in U.S., China Outbreaks Shift to South
Americas
Markets
Here's a pretty crazy chart. After seeing its biggest YoY expansion, we've just seen the biggest YoY contraction in the S&P's trailing 12-month P/E ratio… pic.twitter.com/5OBT1Akkew
— Bespoke (@bespokeinvest) June 20, 2022
Economic Indicators and Prospects
Five High Frequency Indicators for the Economy https://t.co/rs9tGbBdq9 pic.twitter.com/RgJi4NpwyT
— Bill McBride (@calculatedrisk) June 20, 2022
Housing
Got some pushback last week from realtors saying there aren’t any price reductions, demand is fine. And yet we are seeing the most price reductions in the past 5 years… pic.twitter.com/A2cYVufsUQ
— Josh Lehner (@lehnerjw) June 20, 2022
Housing Inventory June 20th Update: Inventory up 18.5% Year-over-year https://t.co/Qn9nD3WfQX Inventory is increasing much faster than normal for this time of year (both in percentage terms and in total inventory added). Next week, inventory will likely exceed the peak in 2021. pic.twitter.com/QDfixE4dmn
— Bill McBride (@calculatedrisk) June 20, 2022
Housing Completions will Increase Sharply in 2022
— Bill McBride (@calculatedrisk) June 20, 2022
Likely most completions since 2006https://t.co/TJcBordZp2
This graph shows total housing completions and placements since 1968 with an estimate for 2022. pic.twitter.com/XqQymkhbB0
Monetary Policy
Fed's Bullard: I hope U.S. economy repeats outcome of 1994's soft landing https://t.co/fH2F5KzWLk pic.twitter.com/61os8KEivf
— Reuters (@Reuters) June 20, 2022
Fiscal Policy
Trade, Supply Chain and Geopolitics
Asia
Covid-19
Housing
Monetary Policy
#PBOC raises the $CNY Central Parity by 269 pips to 6.6851, hovering at around the 6.7 mark recently.#China #forex pic.twitter.com/yT8pYHpH7R
— CN Wire (@Sino_Market) June 21, 2022
RBA's Lowe Sees Key Rate Rising Up To 50-Basis Points In July – FP https://t.co/ps1cpiMx0R
— LiveSquawk (@LiveSquawk) June 21, 2022
South Korea’s inflation rate this year is likely to be higher than forecast last month, the central bank says https://t.co/VJYkgczl4o
— Bloomberg (@business) June 21, 2022
Fiscal Policy
Singapore announced a S$1.5 billion package to shield lower-income households from surging inflation https://t.co/fB00yEZDzU
— Bloomberg Economics (@economics) June 21, 2022
Trade, Supply Chain and Geopolitics
Bangladesh, India rush to help millions hit by ‘worst floods in 122 years’ https://t.co/vllsfUj45W
— South China Morning Post (@SCMPNews) June 21, 2022
Europe
Economic Indicators and Prospects
“Upward forces are likely to predominate slightly in the spring, and economic output could pick up slightly,” Germany's Bundesbank says https://t.co/HMPACkNsbf
— Bloomberg Economics (@economics) June 20, 2022
UK Grocery Price Inflation Was 8.3% In Four Weeks To June 12, Highest Level In 13 Years – Kantar
— LiveSquawk (@LiveSquawk) June 21, 2022
– UK Supermarket Sales Down 1.9% Over 12 Weeks To June 12 Year-On-Year
– Sales Of Branded Items Down 1.0% Over Four Weeks To June 12, Sales Of Own-Label Products Up 2.9%
Monetary Policy
ECB's Rehn: Inflation provided good reason to expedite normalisation of policyhttps://t.co/pZyCr6J2mL
— ForexLive (@ForexLive) June 21, 2022
Fiscal Policy
EU readies a 9 billion-euro financial package for Ukraine https://t.co/dQCVE3ggWe
— Bloomberg Economics (@economics) June 21, 2022
Energy
Trade and Supply Chain
#Breaking The rail strikes are to go ahead after last ditch talks failed to resolve a dispute over pay, jobs and conditions, the RMT union said pic.twitter.com/u9MJWEpNZ0
— PA Media (@PA) June 20, 2022
Geopolitics
The EU and China are planning two high-level meetings in coming weeks, but the talks must tackle real bilateral issues and provide tangible benefits, according to the bloc’s ambassador in Beijing https://t.co/YaGX4eLXYd
— Bloomberg Economics (@economics) June 21, 2022