Morning Brief: Shanghai Curbed Covid Cases in Two Districts, German PPI Explodes
Americas
Housing
Just saw a rate sheet from a major lender. 5.75% with zero points, 30-day lock. 5.375% with 1 point.
— Bill McBride (@calculatedrisk) April 19, 2022
Housing Starts Increased to 1.793 million Annual Rate in March https://t.co/0araNK7hQ3 pic.twitter.com/ws3mbvK5zV
— Bill McBride (@calculatedrisk) April 19, 2022
Canadian home sales post their biggest decline since June as rising interest rates begin to cool the country’s red-hot real estate market https://t.co/3U2o1lSSQi
— Bloomberg Economics (@economics) April 19, 2022
Monetary Policy
Trade, Supply Chain and Geopolitics
Asia
Covid-19
The two districts achieved "Zero Covid on the societal level" in #Shanghai. pic.twitter.com/7yMRzUgfJT
— CN Wire (@Sino_Market) April 20, 2022
Economic Indicators and Prospects
China Government Economists: On Track For 2022 GDP Target Despite Covid Shock – RTRS https://t.co/ds9omGDAdG
— LiveSquawk (@LiveSquawk) April 20, 2022
Japan’s imports continued to surge, driven by soaring energy prices and a weaker yen, extending a sequence of trade deficits to an 8th-straight month as export gains slowed https://t.co/Tinyso5ZN8
— Bloomberg Economics (@economics) April 20, 2022
Housing
Monetary Policy
Onshore yuan weakens through the 6.4-mark against the US Dollar, the weakest since November 2021, and beyond the 200-DMA for the first time since September.#China $CNY $USDCNY #forex #EconTwitter https://t.co/fJyscVxvz7 pic.twitter.com/xapfjZoFPL
— CN Wire (@Sino_Market) April 20, 2022
BoJ Resumes Bond Buying As 10-Year Yield Rises To Upper Limit – BBG https://t.co/cfAeWFLZ5L
— LiveSquawk (@LiveSquawk) April 20, 2022
Trade, Supply Chain and Geopolitics
Security pact with China ‘no threat’ to regional peace: Solomon Islands PM https://t.co/6kQOt5YlUj
— South China Morning Post (@SCMPNews) April 20, 2022
Europe
Economic Indicators and Prospects
🇪🇺 #Europe Car Sales Plunge 19% as War Wipes Out Recovery Prospects – Bloomberg
— Christophe Barraud🛢🐳 (@C_Barraud) April 20, 2022
*Link: https://t.co/Ez9vKf0ap2 pic.twitter.com/GNFREPWrrO
Euro area #IndustrialProduction +0.7% in February over January 2022, +2.0% over February 2021 https://t.co/CTbBekuvOL pic.twitter.com/z95EGyTJo5
— EU_Eurostat (@EU_Eurostat) April 20, 2022
Euro area trade in goods deficit €7.6 bn in February, €15.8 bn deficit for EU https://t.co/bgPY9oJ5DJ pic.twitter.com/Zjv6lnAnNf
— EU_Eurostat (@EU_Eurostat) April 20, 2022
Producer #prices in March 2022: +30.9% on March 2021. https://t.co/j2AEG9MIeO pic.twitter.com/ryLmNwOBgi
— Destatis news (@destatis_news) April 20, 2022
Monetary Policy
🇪🇺 #ECB’S KAZAKS COMMENTS IN BLOOMBERG INTERVIEW
— Christophe Barraud🛢🐳 (@C_Barraud) April 20, 2022
*ECB'S KAZAKS: ENDING APP EARLY IN 3Q IS POSSIBLE, APPROPRIATE
*ECB’S KAZAKS SAYS ZERO ISN’T A CAP FOR DEPOSIT RATE
The ECB must make clear it will raise rates, says @marcusashworth. Otherwise the eurozone may fall into a currency crisis (via @bopinion) https://t.co/1sKl86ctXD
— Bloomberg Economics (@economics) April 20, 2022
Energy
German Industry Fears Immediate Russian Gas Ban https://t.co/NnNBeLHwmw
— zerohedge (@zerohedge) April 20, 2022
Politics
A Le Pen victory in France would weaken the EU from within, argues @LionelRALaurent https://t.co/He06IRAhPx
— Bloomberg Opinion (@bopinion) April 20, 2022
Melenchon says he wants to become French prime minister https://t.co/Uw3SQ1LKJ8 via @Newsbaum_ pic.twitter.com/Ow50zdxrTk
— Zoe Schneeweiss (@ZSchneeweiss) April 20, 2022
The biggest risk for Macron will be fears of a cost of living crunch. Here are some charts to explain how that is playing out in the French election https://t.co/JfsbI4fSel https://t.co/aQwHllM9eP
— William Horobin (@WHorobin) April 20, 2022
Trade, Supply Chain and Geopolitics
Kremlin Insiders Alarmed Over Growing Toll of Putin’s War In Ukraine – BBG
— LiveSquawk (@LiveSquawk) April 20, 2022
Some in the elite fear the invasion was a catastrophic mistake — but say the Russian president won't relent and is in no danger of losing power.
https://t.co/p6YxDTIL7f
Other Areas And Global Economy
⚠ #WeekAhead: Week 16 (2022) ⚠
— Christophe Barraud🛢🐳 (@C_Barraud) April 18, 2022
🌎 #IMF/World Bank Meeting
🇫🇷 French Debate and Elections
🇺🇸 🇪🇺 Powell and Lagarde Speeches
🇺🇸 Beige Book
…https://t.co/y8cADwGDqQ
🌎 #IMF Slashes Growth Outlook on #Russia Invasion, #China Lockdowns – Bloomberg
— Christophe Barraud🛢🐳 (@C_Barraud) April 19, 2022
*Link: https://t.co/S8olVZcjt1 pic.twitter.com/FFiJMdcdRM
Worldwide #smartphone shipments fell 11% amid unfavorable economic conditions and sluggish seasonal demand in the first quarter of 2022.
— CN Wire (@Sino_Market) April 20, 2022
Via @Canalys https://t.co/rBCjegYwo4
Samsung and Apple's market shares rose y/y in 1Q 22, while Chinese makers including #Xiaomi fell slightly pic.twitter.com/0sS1S2xnGS