Morning Brief: ‘Insiders’ Are Buying This Dip, China Politburo Meeting
Americas
Markets
'Insiders' Are Buying This Dip https://t.co/cgtoPPxPtc
— zerohedge (@zerohedge) May 26, 2022
AAII Sentiment Survey:
— AAII SentimentSurvey (@AAIISentiment) May 26, 2022
*Optimism is below 20% for the 4th time in 7 weeks: remains unusually low for the 17th time out of the last 19 weeks.
*Pessimism is above 50% for the 4th time in 5 weeks; unusually high for the 16th time out of the last 19 weeks https://t.co/CPRW7Qb6JE pic.twitter.com/3a31OQUTsW
Economic Indicators and Prospects
Get details about how the U.S. economy performed in the first quarter of 2022 by reading our latest blog, https://t.co/Z2zW6BnbXD pic.twitter.com/INVsdtxNkY
— BEA News (@BEA_News) May 26, 2022
Nearly 60% of lower income respondents said they will cut spending due to higher prices pic.twitter.com/Eto4IYHzH5
— Mike Zaccardi, CFA, CMT (@MikeZaccardi) May 26, 2022
May Vehicle Sales Forecast: Decrease to 13.4 million SAAR https://t.co/SK1fOL4LNN pic.twitter.com/LQ7jGqZL4Z
— Bill McBride (@calculatedrisk) May 26, 2022
Housing
Realtor .com Reports Weekly Inventory Up 9% Year-over-year https://t.co/YsVaZYo3Mh
— Bill McBride (@calculatedrisk) May 26, 2022
It appears that inventory growth is accelerating, as demand declines. pic.twitter.com/xS1ONwaGZc
Monetary Policy
NY Fed: Median Consumer Expects Inflation To Fade Over The Next Few Years – Blog https://t.co/2ZFEJvdlqy
— LiveSquawk (@LiveSquawk) May 26, 2022
.@federalreserve Vice Chair Lael Brainard said a well-designed central bank digital currency (CBDC) could complement stablecoins and cash. @camlearnscrypto reportshttps://t.co/ZnP3gXWWkq
— CoinDesk (@CoinDesk) May 26, 2022
Energy
Trade, Supply Chain and Geopolitics
News Recap: Blinken Aims At Xi In Speech Vowing To Shape The Global Order – BBG https://t.co/LAuzr4VYZp
— LiveSquawk (@LiveSquawk) May 26, 2022
Asia
Covid-19
Chinese officials eased Covid restrictions at Beijing universities in recent days
— Bloomberg (@business) May 27, 2022
Some say it was an attempt to avoid the possibility that protests over virus measures would be linked to the anniversary of the Tiananmen Square massacre https://t.co/9VyVl6I5B1
Some Chinese carriers are expected to add more international #flights, after the State Council‘s meeting, which vowed to increase international passenger flights in an orderly manner to save the bleeding industry dragged by the #epidemic. https://t.co/hs9ErtTyg6 pic.twitter.com/7AwYSC4lkp
— Global Times (@globaltimesnews) May 26, 2022
Economic Indicators and Prospects
Chinese Premier Li Keqiang warns of dire consequences if officials don’t move decisively to prevent the economy from sliding further, saying a contraction in the second quarter must be avoided https://t.co/CbfsxxFXXi
— Bloomberg Economics (@economics) May 26, 2022
#China's NBS:
— CN Wire (@Sino_Market) May 27, 2022
Industry profit growths in eastern and northeast China were affected by the epidemic, dropping 16.7% and 8.1% respectively from Jan-April.
The pandemic cast a shadow on the automobile industry, which dragged the manufacturing profit growth by 6.7 percentage points.
Shanghai's total electricity consumption has recovered to 78% of the 2021 level in the first three weeks of May, according to #Shanghai Electric Power Co., LTD.
— CN Wire (@Sino_Market) May 27, 2022
The power consumption of industrial enterprises above the designated size has recovered to 85%.#China #electricity
Tokyo CPI (Y/Y) May: 2.4% (est 2.5%; prev 2.5%; prev R 2.4%)
— LiveSquawk (@LiveSquawk) May 26, 2022
– Tokyo CPI Ex Fresh Food (Y/Y) May: 1.9% (est 2.0%; prev 1.9%)
– Tokyo CPI Ex Fresh Food & Energy (Y/Y) May: 0.9% (est 0.8%; prev 0.8%)
New Zealand ANZ Consumer Confidence – Full Report https://t.co/ptWh4UkhnW pic.twitter.com/cdbFwG3hkH
— LiveSquawk (@LiveSquawk) May 26, 2022
Housing
CHINA #EVERGRANDE GROUP CONSIDERING REPAYING OFFSHORE BONDHOLDERS THEIR DUES IN INSTALMENTS – SOURCES via Reuters.
— CN Wire (@Sino_Market) May 27, 2022
EVERGRANDE ALSO DISCUSSING GIVING OFFSHORE BONDHOLDERS OPTION OF CONVERTING PART OF DEBT INTO EQUITY OF HK-LISTED PROPERTY MANAGEMENT, EV UNITS – SOURCES.
Greenland Holdings Corp., #China’s 11th-largest builder, is seeking investor approval for a possible bond-repayment extension.
— CN Wire (@Sino_Market) May 27, 2022
The 6.75% dollar bond fell a further 31.5 cents on the dollar to 39.1 cents Friday morning, after tumbling 18.9 cents the previous day.-Bloomberg
Monetary Policy
PBOC slashes the $CNY Central Parity Rate by 621 pips to 6.7387, the biggest one in the last three weeks.#China #forexhttps://t.co/CmGSbvxRPh pic.twitter.com/A5rmnTJASr
— CN Wire (@Sino_Market) May 27, 2022
Japan PM Kishida: Specific monetary policy tools are up to BOJ to decidehttps://t.co/QAa3RzsOWd
— ForexLive (@ForexLive) May 27, 2022
Fiscal Policy
Energy
Japan faces a power supply crunch this summer https://t.co/pVAjVWWcJW
— Bloomberg (@business) May 27, 2022
Politics
Trade, Supply Chain and Geopolitics
China and the Solomon Islands commit to deeper economic ties following their recent security pact that’s alarmed Australia https://t.co/yTwvA2I8nQ
— Bloomberg Economics (@economics) May 27, 2022
Europe
Economic Indicators and Prospects
Eurozone April M3 money supply +6.0% vs +6.3% y/y expectedhttps://t.co/SBHlEGaZWz
— ForexLive (@ForexLive) May 27, 2022
Monetary Policy
Fitch: Upward Pressure On Eurozone Wage Growth To Concern ECB https://t.co/KGcd3ByE2S
— LiveSquawk (@LiveSquawk) May 26, 2022
Fiscal Policy
Rishi Sunak has bought himself, and UK households, time with his latest £15 billion aid package, but he’s likely to face pressure to act again next year https://t.co/EU6MFZE30O
— Bloomberg (@business) May 27, 2022
Trade, Supply Chain and Geopolitics
EU leaders may begin discussing ways to water down the oil sanctions plan if they can't get a deal https://t.co/bLd4ry7f3Y
— Bloomberg Economics (@economics) May 27, 2022
Vladimir Putin says he’s willing to facilitate grain and fertilizer exports to help with global food shortages — but only if sanctions on his country are lifted https://t.co/o6Er2oj9cL
— Bloomberg Economics (@economics) May 26, 2022