Morning Brief: Chinese Growth at Risk, Russian Rate Cut Tops Most Forecasts
Americas
Economic Indicators and Prospects
US Atlanta Fed GDPNow Q2: 1.8% (prev 2.4%) https://t.co/GIJHH2ZMsR
— LiveSquawk (@LiveSquawk) May 25, 2022
Housing
MBA: Mortgage Applications Decrease in Latest Weekly Survey https://t.co/FhlG5Z9FBm
— Bill McBride (@calculatedrisk) May 25, 2022
The refinance index is at the lowest level since December 2018. pic.twitter.com/uJdXX6Y2lH
Monetary Policy
FOMC Minutes: "Risks to inflation were skewed to the upside"; 50bp increases likely appropriate at next couple of meetings https://t.co/viFxjTyulK
— Bill McBride (@calculatedrisk) May 25, 2022
FOMC minutes:
— Steve Matthews (@SteveMatthews12) May 25, 2022
1. Strong consensus for half point hikes in June & July;
2. "Expeditiously" move to neutral (2.4% in SEP);
3. Flexible on what happens next, willing to go higher;
4. Inflation way too high; job market too tighthttps://t.co/aCvhddLJqc via @ctorresreporter @economics
Fiscal Policy
CBO boosts U.S. GDP growth estimates, says inflation has topped and will cool to 2% by 2024 https://t.co/vl1JRhY3qn
— CNBC Politics (@CNBCPolitics) May 25, 2022
Trade, Supply Chain and Geopolitics
US Sec Of State Blinken To Say China Strategy About Rules-Based Order, Not 'New Cold War' – RTRS https://t.co/B98xw11Hss
— LiveSquawk (@LiveSquawk) May 26, 2022
Asia
Covid-19
Beijing Records More Covid Cases as Li Warns on Economic Toll – BBG
— LiveSquawk (@LiveSquawk) May 26, 2022
https://t.co/5D7Tzdh1hv
Economic Indicators and Prospects
China’s economy remain deep in a slump in May as lockdowns continued to weigh on activity, and as the threat of omicron and expanded restrictions dampened sentiment https://t.co/jhU7h7Nye9
— Bloomberg Economics (@economics) May 26, 2022
Li Keqiang's unreported comments from his emergency teleconference:
— Tom Hancock (@hancocktom) May 26, 2022
-GDPism lives on: growth is the solution to all problems
-Struggle for economy to grow in second quarter
-Risk of summer power shortages
And more https://t.co/dz1fsLoVG7
Monetary Policy
Fiscal Policy
#China’s 60 bn yuan tax cut on #car purchases could drive 2 mln incremental demand for conventional fuel vehicles, said analysts https://t.co/9j3jGgltYL
— YUAN TALKS (@YuanTalks) May 24, 2022
China's state council:
— CN Wire (@Sino_Market) May 26, 2022
Local governments will set up service assurance scheme for key foreign trade companies, to help those COVID-19 -hit firms to resume operations, and to secure cross-border #supplychains ASAP.#China #mobility
Shenzhen, the southern metropolis & home to some of China's biggest companies, announces the govt will subsidize local consumers for their qualified purchase of EVs, computers, smartphones, wearables, etc.https://t.co/Eetl0SJA4e pic.twitter.com/mqdQoCRQFd
— Zichen Wang (@ZichenWanghere) May 26, 2022
Trade, Supply Chain and Geopolitics
Hong Kong to end 2011 mutual recognition pact after rejecting US demand to waive local experience in certifying overseas-trained accountants https://t.co/fKwodgOq1z
— South China Morning Post (@SCMPNews) May 26, 2022
Europe
Economic Indicators and Prospects
The cost of living crisis is the final straw for workers on the UK’s high street https://t.co/sG9APcGmKX
— Bloomberg Economics (@economics) May 26, 2022
Monetary Policy
Russia delivers its third interest-rate reduction in just over a month, further unwinding the financial defenses in place since the invasion of Ukraine https://t.co/EIwVFHIVBg
— Bloomberg Economics (@economics) May 26, 2022
Fiscal Policy
Eight Million UK Households Will Get Up To £600 For Help With Rising Bills – Times https://t.co/zZ7Pq1H8yV
— LiveSquawk (@LiveSquawk) May 26, 2022
Trade, Supply Chain and Geopolitics
Ukraine Savages Idea Of Concessions To End War, Evokes Appeasement Of Nazis – RTRS https://t.co/9Eehy5h1hD
— LiveSquawk (@LiveSquawk) May 25, 2022
Other Areas And Global Economy
🌎 🇺🇦 🇨🇳 Double Crises From #Ukraine to #China Take Toll on Global Recovery – Bloomberg
— Christophe Barraud🛢🐳 (@C_Barraud) May 26, 2022
*Link: https://t.co/SJSiIVnQnm pic.twitter.com/kk4SjIhnld
Iran Used Secret UN Records to Evade Nuclear Probes … WSJ
— Trading Floor Audio (@TradeFloorAudio) May 25, 2022
Internal IAEA documents, obtained by Iranian intelligence, were sent to top officials amid an investigation into a suspected past nuclear-weapons programhttps://t.co/Po8wbTi4rd