🇺🇸 #FDIC Plans to Hit Big Banks With Fees to Refill Insurance Fund – Bloomberghttps://t.co/kfCSQsBE9E

— Christophe Barraud🛢🐳 (@C_Barraud) May 5, 2023

$WAL | Western Alliance Becomes Latest US Bank To Explore Potential Sale – @FThttps://t.co/4kNJjtcGqv

— LiveSquawk (@LiveSquawk) May 4, 2023

JPMorgan’s Dimon reportedly making first mainland China visit in four years https://t.co/DazdDN469V

— CNBC (@CNBC) May 5, 2023

Bank deposits continue to decline at an unprecedented rate

Tighter lending standards should lead to a credit crunch in the coming months pic.twitter.com/CnjQJX4ASQ

— Game of Trades (@GameofTrades_) May 4, 2023

*MONEY MARKET HOLDINGS HIT RECORD $5.31T IN WEEK ENDED MAY 3:ICI

Up $47BN in one week, up $100BN in two weeks… the bank run is accelerating pic.twitter.com/t7kuYEF6nz

— zerohedge (@zerohedge) May 4, 2023

There was only $5.3 billion in discount window lending outstanding as of Wednesday, reflecting the acquisition of First Republic Bank by JPMorgan.

The Fed's lending to First Republic, via the discount window and BTFP, has been reclassified in the Fed's balance sheet statement pic.twitter.com/l6G69NFVmD

— Nick Timiraos (@NickTimiraos) May 4, 2023

Weekly Initial Unemployment Claims increase to 242,000https://t.co/rtEQVjV1m0 pic.twitter.com/fX1dUwoviL

— Bill McBride (@calculatedrisk) May 4, 2023

Trade Deficit decreased to $64.2 Billion in Marchhttps://t.co/liuX1q3zpI

The trade deficit with China decreased to $16.6 billion in March, from $34.0 billion a year ago. pic.twitter.com/whjuboYtcg

— Bill McBride (@calculatedrisk) May 4, 2023

On May 4, the #GDPNow model nowcast of real GDP growth in Q2 2023 is 2.7%. https://t.co/T7FoDdgYos #ATLFedResearch Download our EconomyNow app or go to our website for the latest GDPNow nowcast. https://t.co/NOSwMl7Jms pic.twitter.com/IRgI2bHnnL

— Atlanta Fed (@AtlantaFed) May 4, 2023

Moody's: US GDP Growth Would Be 1.61% In 2024 Under GOP Debt Limit Plan Vs. 2.23% Otherwise
– Plan Would 'Meaningfully Increase' Likelihood Of Recession
– GOP-Proposed Spending Cuts Are 'Substantial Headwind' To Near Term Economic Growth
– Plan Would Cost 790K Jobs By End-2024

— LiveSquawk (@LiveSquawk) May 4, 2023

BoC’s Macklem: Expect #Inflation To Fall Quickly This Summer, But Path From 3% To 2% Is Both ‘Slower And More Uncertain’https://t.co/aowVoq7Ac8

— LiveSquawk (@LiveSquawk) May 4, 2023

US Economy Set To Have Added Jobs At Slowest Pace Since 2020 – FT https://t.co/GxWZjaaeT3

— LiveSquawk (@LiveSquawk) May 5, 2023

2.

“.. Layoff announcements continue to rise, with the Challenger survey reporting a 176% year-over-year increase in April. .. Jobless claims follow announcements, and we expect the first 300K print by mid-year.”@PantheonMacro #NFP pic.twitter.com/Z77CBTehwo

— Carl Quintanilla (@carlquintanilla) May 4, 2023

Simple model for private monthly payrolls growth based on 2m forward NFIB hiring plans (pre-COVID)… Post covid R2 about the same (i.e., not very significant) pic.twitter.com/pn9vg3osnh

— Parker Ross (@Econ_Parker) May 4, 2023

The Fed has a problem with inflation and banks. Congress and Biden have a problem with the debt ceiling. A deal to cut federal spending could address all of them. https://t.co/fG9XL3L6ir

— Greg Ip (@greg_ip) May 4, 2023

NY Fed Statement Regarding Agency Mortgage-Backed Securities Small Value Exercisehttps://t.co/VRaosyP0oC pic.twitter.com/SSGvueJTK7

— LiveSquawk (@LiveSquawk) May 4, 2023

NEW: The U.S. Treasury will design a program to buyback government debt with plans to execute purchases beginning next year

The Treasury hasn't done this since 2000 https://t.co/EnNqZRegZ7 pic.twitter.com/kSGUOrkYPN

— Nick Timiraos (@NickTimiraos) May 3, 2023

WATCH: The Senate Budget Committee holds a hearing on the impact of GOP debt limit bill https://t.co/iB9ZOXCNXE

— CNBC (@CNBC) May 4, 2023

US Seeks Meeting With China Defense Minister After Being Spurned – BBG https://t.co/M3NcEK3eoW

— LiveSquawk (@LiveSquawk) May 5, 2023

🇺🇸🇵🇭💥🇨🇳 U.S. issues guidelines on defending Philippines from South China Sea attack

The United States has laid out in clear terms the extent of its defence treaty commitments to the Philippines, issuing new guidelines that refer specifically to attacks in the South China Sea,… pic.twitter.com/AvN8ZdoM24

— PiQ (@PiQSuite) May 4, 2023

"We're still trying to gather evidence" about the alleged drone attack on the Kremlin, but allegations by #Russia that the US was involved are "lies," NSC spokesman John Kirby tells White House reporters.
https://t.co/uYCuCEtNsK

— Steve Herman (@W7VOA) May 4, 2023

US debt ceiling crisis gives China chance to cut Treasury exposure, push yuanhttps://t.co/CFEivLlUsc

— South China Morning Post (@SCMPNews) May 4, 2023

🔵 YEN SET TO SNAP 3-WEEK LOSING STREAK ON BANK JITTERS, DOLLAR SLIPS

Read More: https://t.co/5fstIKwWXb pic.twitter.com/A1JAnGDVgV

— PiQ (@PiQSuite) May 5, 2023

Australia's top banks look to diversify from mortgages as rates peak https://t.co/JDgEaPIXrZ pic.twitter.com/jnJ9lzgzm0

— CNA (@ChannelNewsAsia) May 5, 2023

⚡JUST IN:
Caixin April Services PMI 56.4 [Est.57.0 Prev.57.8]
Caixin April Composite PMI 53.6[Prev. 54.5].#China #PMI 🇨🇳 https://t.co/BoVJUsT8wt

— CN Wire (@Sino_Market) May 5, 2023

🇨🇳 #China Services Activity Eases as Concerns Mount Over Rebound – Bloomberghttps://t.co/XDoEJNmyV6 pic.twitter.com/0pNB8O6BoZ

— Christophe Barraud🛢🐳 (@C_Barraud) May 5, 2023

RBA Cuts GDP, Inflation Forecasts As Rate Hikes Cool Activity – BBG https://t.co/8rATb4ntuG

— LiveSquawk (@LiveSquawk) May 5, 2023

Chinese #property developers rally on Fri after a sell-off earlier this week.

Sunac China is surging nearly 16% after the developer said that creditors holding 85% of its exiting debt have acceded to restructuring agreement. pic.twitter.com/T09iZ8f28h

— YUAN TALKS (@YuanTalks) May 5, 2023

#China's #property transactions in major cities rose by about 25% y/y during May Day holiday, partly due to low base last year, but sales remain more than 20% lower than 2019-level, according to real estate research firm China Index Academy.

— YUAN TALKS (@YuanTalks) May 4, 2023

🔵 CHINA TO ENHANCE CREDIT SUPPORT TO PRIVATE INVESTMENT PROJECTS

Read More: https://t.co/MBTnxiZiOr pic.twitter.com/ZELACWasfa

— PiQ (@PiQSuite) May 5, 2023

Vietnam central bank bought $4.9 billion in first 4 months to boost reserves – minister https://t.co/Y1XewQe5yY pic.twitter.com/q8Oy3ew9He

— CNA (@ChannelNewsAsia) May 5, 2023

Russia confirms enriched uranium supplies to Chinahttps://t.co/DXAmJ2VoXE

— South China Morning Post (@SCMPNews) May 5, 2023

🇬🇧 UK Depositors Pull £11 Billion Out of Banks After SVB Crisis – Bloomberghttps://t.co/Csi5g9DLqd pic.twitter.com/sdWU9cCLTd

— Christophe Barraud🛢🐳 (@C_Barraud) May 5, 2023

French Industrial Production (M/M) Mar: -1.1% (est -0.4%; prevR 1.4%)
– French Industrial Production (Y/Y) Mar: -0.1% (est 1.1%; prevR 0.9%)
– French Manufacturing Production (M/M) Mar: -1.1% (est 0.0%; prev 1.3%)
– French Manufacturing Production (Y/Y) Mar: 0.7% (prevR 1.8%)

— LiveSquawk (@LiveSquawk) May 5, 2023

German Factory Orders (M/M) Mar: -10.7% (est -2.3%; prev 4.8%)
– German Factory Orders WDA (Y/Y) Mar: -11.0% (est -3.1%; prev -5.7%)

— LiveSquawk (@LiveSquawk) May 5, 2023

Okay, so what happened? German factory orders plunged the most outside the pandemic in March. Part of the 11% m/m drop was due to volatile big ticket orders but even excl. those this was the largest non-pandemic fall since the GFC at -8% and uniform across sectors. 1/ https://t.co/dQurzfZEoJ pic.twitter.com/epqUkzT7KN

— Oliver Rakau (@OliverRakau) May 5, 2023

🇪🇺 #ECB Raises Main Refinancing Rate By 25BPS to 3.75%; Est. 3.75% – BBG
*ECB: FUTURE DECISIONS WILL MAKE RATES SUFFICIENTLY RESTRICTIVE

— Christophe Barraud🛢🐳 (@C_Barraud) May 4, 2023

The peak in interest rates might be nearer than ECB President Lagarde tried to make markets believe at the press conference, writes @carstenbrzeskihttps://t.co/krykdnqdvG

— ING Economics (@ING_Economics) May 4, 2023

Most Bank Economists See ECB Raising Rates Twice More by July … BBG

Goldman Sachs and Morgan Stanley see another two 25 basis-point steps

ING and Commerzbank anticipate just one such hike,

Danske Bank expects three for a terminal rate of 4%.https://t.co/xPpYLkXHjv

— Trading Floor Audio (@TradeFloorAudio) May 5, 2023

ECB survey shows 2% inflation target further out of reach https://t.co/LS4mysmozl pic.twitter.com/NFiFyPjtxU

— Zoe Schneeweiss (@ZSchneeweiss) May 5, 2023

Danish central bank raises interest rates to mirror the ECB hike https://t.co/sd7nZqXDbR via @CHRWIENBERG pic.twitter.com/V3hooxtaF1

— Zoe Schneeweiss (@ZSchneeweiss) May 4, 2023

Britain will be the last advanced economy locked in a pitched battle against inflation, if market bets are any guide https://t.co/RiqmZcotuN

— Bloomberg (@business) May 5, 2023

Flood Of Bond Sales Pushes Up UK Borrowing Costs – FT https://t.co/Qim77Vo2Es

— LiveSquawk (@LiveSquawk) May 5, 2023

The UK chancellor’s new adviser warns against a quick fix of tax cuts https://t.co/WsuBkTgFCO via @tomelleryrees @lizzzburden pic.twitter.com/7H31o30pEG

— Zoe Schneeweiss (@ZSchneeweiss) May 5, 2023

Labour makes big gains early in UK local election counting https://t.co/McbjvJ1Z8J via @kitty_donaldson @Joe_Mayes pic.twitter.com/TGz64BOdB7

— Zoe Schneeweiss (@ZSchneeweiss) May 5, 2023

French union warns ‘battle isn’t over’ against pension reform https://t.co/OlCpJ9urMc via @JReganReg pic.twitter.com/SxXY4xsn6e

— Zoe Schneeweiss (@ZSchneeweiss) May 4, 2023

Italy's foreign minister cancels a trip to Paris after a member of the French government criticized Rome's management of the ongoing migration crisis https://t.co/XevvmuCxsY pic.twitter.com/c4fwd2qhGl

— ANADOLU AGENCY (@anadoluagency) May 4, 2023

🔵 RUSSIA'S LAVROV SAYS KREMLIN DRONE INCIDENT WAS 'HOSTILE ACT'

Read More: https://t.co/xedfkEP8Qp pic.twitter.com/2Y8iZSg6gn

— PiQ (@PiQSuite) May 5, 2023

https://twitter.com/C_Barraud/status/1652908217758801922