Morning Brief: US Debt Ceiling Deal; China’s Manufacturing Sector Improved; Spanish Inflation Slows More Than Expected
Americas
Markets
Stock Futures Rise After GOP and White House Reach Tentative U.S. Debt Ceiling Deal: Live Updates https://t.co/NEORujRHEf
— NBC Chicago (@nbcchicago) May 29, 2023
Treasury futures linked to the 10- to 30-year part of the US government bond market rally, as traders looked ahead to an array of supportive factors that could come into play when trading resumes Tuesday https://t.co/3wE2jEDZau
— Bloomberg (@business) May 29, 2023
“.. Nasdaq100 $NDX vs Russell 2k $RUT spread hitting highest on record. Surpassed 2020 melt up, and 1999~2000 Dotcom levels ..”
— Carl Quintanilla (@carlquintanilla) May 30, 2023
(via Mizuho) pic.twitter.com/ZdhXlX9lD7
Economic Indicators and Prospects
IMF Sees US Growth Q/Q Near 1.2% In 2023, To Pick Up Momentum In 2024
— LiveSquawk (@LiveSquawk) May 26, 2023
– Unemployment Seen Rising Slowly To Near To 4.5% By End-2024 pic.twitter.com/JGQPUJOVFs
Recession Watch Updatehttps://t.co/SL6IgWmNmU pic.twitter.com/CiicVmO4iB
— Bill McBride (@calculatedrisk) May 29, 2023
🇺🇸 #BlackJack | Why You’re Losing More to #Casinos on the #LasVegas Strip – WSJhttps://t.co/XXg18MzNsG pic.twitter.com/0lF09l49V1
— Christophe Barraud🛢🐳 (@C_Barraud) May 30, 2023
With an increasing number of states legalizing both medical and recreational #cannabis, the market has expanded rapidly, surpassing expectations and breaking new records in the USA. https://t.co/dx9ndxbccx
— fastreveal (@fastrevealnews) May 29, 2023
Monetary Policy
Chicago Fed President Austan Goolsbee expects bipartisan support for a tentative deal to raise the US debt ceiling https://t.co/trdyNWMcrV
— Bloomberg (@business) May 29, 2023
Fiscal Policy
Biden, McCarthy reach final deal to prevent default, now must sell to Congress https://t.co/cZ60XHiq3e
— 7News Boston WHDH (@7News) May 28, 2023
The White House and Republican congressional leaders geared up lobbying campaigns to win approval of a deal to avert a US default https://t.co/7BBI3YeQ5d
— Bloomberg Economics (@economics) May 29, 2023
Trade, Politics and Geopolitics
🇺🇸 #NorthCarolina House Committee Discusses Medical #Marijuana Bill with Prospects of Legalizationhttps://t.co/CK6xIHraK6
— fastreveal (@fastrevealnews) May 30, 2023
Asia
Markets
Asian stocks mostly higher as US debt deal revives confidence https://t.co/Ka3D5EDK7w pic.twitter.com/eAPdoGonei
— Reuters (@Reuters) May 30, 2023
A key gauge of Chinese stocks is on track to enter a bear market, dealing a blow to investors who bet on a revival after the reopening rally flopped https://t.co/NZT92kw0mi
— Bloomberg (@business) May 30, 2023
*Focus on banks
How does the Governor of the Bank of Japan define #Web3 and what does it have to do with Polkadot ?
— Peter Ruchatz (@PRchtz) March 29, 2023
In a visionary speech at Japan’s FinTech Summit, KURODA Haruhiko speaks of #web3 as „a decentralized and fair internet where users control their own data, identity and destiny." pic.twitter.com/wOPvHH8AtZ
Banks in Hong Kong borrowed the largest amount of short-term cash in over two years from the authorities, suggesting there was sudden demand for liquidity https://t.co/ppKVKjW5Qw
— Bloomberg (@business) May 30, 2023
Economic Indicators and Prospects
🇨🇳 #China’s Manufacturing Sector Improved in May, Surveys Show – Bloomberghttps://t.co/pgeHTpDsRX
— Christophe Barraud🛢🐳 (@C_Barraud) May 30, 2023
Container shipments from Asia to US fell 19% y/y in Apr, shipments from China to US fell 20% y/y, shipping rates declinehttps://t.co/haGgRmRP6L pic.twitter.com/bOfl63Urt6
— YUAN TALKS (@YuanTalks) May 29, 2023
Japan’s unemployment rate has fallen for the first time in three months, potentially feeding into higher wages and providing support for the Bank of Japan’s sustainable inflation goal down the line. https://t.co/laxZLFDhfQ
— The Japan Times (@japantimes) May 30, 2023
Housing
Australian approvals to build new homes tumbled to the lowest level in 11 years https://t.co/rQO2Pt2n3U
— Bloomberg Economics (@economics) May 30, 2023
New Zealand House Prices to Rise Earlier Than Expected, ANZ Says https://t.co/QZYTpjWZSw
— Property Investment (@PropertyUK_) May 30, 2023
Monetary Policy
The Bank of Japan will gradually build a case for a major overhaul of its stimulus framework in the second half of 2024, according to Bloomberg Economics https://t.co/dx8Pf4MHZD
— Bloomberg (@business) May 30, 2023
Trade, Politics and Geopolitics
Chinese Companies Still Keen On US But Face Higher Hurdles – FT https://t.co/6zFKqMcIY5
— LiveSquawk (@LiveSquawk) May 29, 2023
China Rebuffs Pentagon Chief, Blunting Push For Rapprochement – WSJ https://t.co/msWexPRp4t
— LiveSquawk (@LiveSquawk) May 29, 2023
Europe
Economic Indicators and Prospects
🇪🇺 Loans to households and companies fell in April. *The 3-month moving average is also weakening significantly. pic.twitter.com/XFAtiCw8nR
— Christophe Barraud🛢🐳 (@C_Barraud) May 30, 2023
Spanish Retail Sales SA (Y/Y) Apr: 5.5% (prevR 9.9%)
— LiveSquawk (@LiveSquawk) May 30, 2023
– Spanish Retail Sales (Y/Y) Apr: 5.0% (prevR 9.9%)
Swiss GDP (Q/Q) Q1: 0.3% (est 0.1%; prev 0.0%)
— LiveSquawk (@LiveSquawk) May 30, 2023
– Swiss GDP (Y/Y) Q1: 0.6% (est 0.6%; prevR 0.7%)
*Focus on inflation
🇪🇸 Spanish #Inflation Slows More Than Expected, Easing Pressure On #ECB https://t.co/ePw26vOIof
— fastreveal (@fastrevealnews) May 30, 2023
Euro zone selling price expectations point to an outright landslide in inflation..
— AndreasStenoLarsen (@AndreasSteno) May 29, 2023
The survey will be updated this week again.
The 5 most important charts in this weeks macro here -> https://t.co/hcsvnfjpGK pic.twitter.com/4zzl89gBMO
🇮🇹 #ITALY APRIL PRODUCER PRICES FALL 3.5% Y/Y (largest decline since Sep. 2020) – BBG
— Christophe Barraud🛢🐳 (@C_Barraud) May 30, 2023
*ITALY APRIL PRODUCER PRICES FALL 6.5% M/M pic.twitter.com/xbl07MnELP
🇬🇧 #Inflation in UK Shops Hits Record With Little Sign of Relief – Bloomberghttps://t.co/m625YzavB1
— Christophe Barraud🛢🐳 (@C_Barraud) May 30, 2023
Monetary Policy
ECB’s tightening cycle is closer to its end, but still has a way to go, De Cos says https://t.co/HRn1XPP4tp via @alonsosotoj pic.twitter.com/zUEszz5bLM
— Zoe Schneeweiss (@ZSchneeweiss) May 29, 2023
Energy
Germany’s thousands of solar panels set a new production record on Saturday https://t.co/ROxqvjB5Oc
— Bloomberg Green (@climate) May 30, 2023
Trade, Politics and Geopolitics
🇪🇸🇪🇺 Spanish Snap #Election Poses Challenges for EU Presidencyhttps://t.co/FY6ZXxAnKP
— fastreveal (@fastrevealnews) May 29, 2023
Turkish President Recep Tayyip Erdogan held talks with Mehmet Simsek, a market-friendly former finance minister, sources say https://t.co/p4rZ4O921L
— Bloomberg Economics (@economics) May 29, 2023
🇷🇺 🇺🇦 #DroneAttacks Shake #Moscow as Conflict Escalates Beyond #Ukraine’s Bordershttps://t.co/Pkt3NtNQ1I
— fastreveal (@fastrevealnews) May 30, 2023
Other Areas And Global Economy
⚠ #WeekAhead: Week 22 (2023) ⚠
— Christophe Barraud🛢🐳 (@C_Barraud) May 29, 2023
🇺🇸 #Fed Beige Book
🇪🇺 #ECB Minutes
🇬🇧 🇪🇺 🇺🇸 #BOE, #ECB and #FED Speakers
🇪🇺 #Eurozone CPI
🇺🇸 US Employment Report
🇨🇳 #China PMIs
🛢 #OPEC Meeting
…https://t.co/kFDFxb5KfS