Economic Indicators and Prospects
🇺🇸 The University of Michigan’s final May sentiment index decreased to 58.4 (lowest since Aug. 2011) from a preliminary reading of 59.1.
*In the last 70 years, the only time Consumer Sentiment was this low without the U.S. being in #recession was in 2011. pic.twitter.com/nPHY8X0Q1Q— Christophe Barraud🛢🐳 (@C_Barraud) May 27, 2022
Housing
Housing Market Update: Nearly 1 in 5 Sellers is Dropping Their Price, the Highest Rate Since October 2019.
https://t.co/7pokRPMNi5
— Daniel Lacalle (@dlacalle_IA) May 28, 2022
Monetary Policy
Energy
Trade, Supply Chain and Geopolitics
US Navy Says It’s ‘Looking Into’ Reports That Iran Seized 2 Greek Oil Tankers After Tehran Threatened ‘Punitive Action’ – AP https://t.co/GwIysNAByp
— LiveSquawk (@LiveSquawk) May 27, 2022
Asia
Covid-19
Mainland #China reports 20 local confirmed cases and 102 asymptomatic cases on May 29.
—#Shanghai reports 6 + 61 cases🔽#Beijing reports 8 + 4 cases🔽#Tianjin reports 6 + 0 cases🔽
—
Source: NHC https://t.co/SwQkF75wPu— CN Wire (@Sino_Market) May 30, 2022
Economic Indicators and Prospects
Housing
🇨🇳 #China | Moves by several Chinese cities to reduce mortgage rates are aimed at lowering the cost of debt, supporting reasonable #housing demand and stabilizing economic growth, the Economic Daily says in a commentary.
*Link (Chinese): https://t.co/JIUYa4nwqX— Christophe Barraud🛢🐳 (@C_Barraud) May 30, 2022
Monetary Policy
New Zealand’s central bank is confident it can guide the economy to a “soft landing” even as it raises interest rates aggressively to tame inflation https://t.co/4r7pmHzntS
— Bloomberg Economics (@economics) May 30, 2022
Fiscal Policy
🇨🇳 #China | #Shanghai Unveils Fresh Policies to Support Economy Hit by Covid – Shanghai municipal government
*50 measures in eight categories aimed at stabilizing the city’s economy.
*Link (Chinese): https://t.co/y8vxk6JvjU— Christophe Barraud🛢🐳 (@C_Barraud) May 29, 2022
🇨🇳 #CHINA | *SHANGHAI TO LAUNCH NEW BATCH OF HOUSING PROJECTS – BBG
*SHANGHAI TO IMPROVE HOUSING MARKET POLICY, SUPPORT HOUSING NEEDS
*SHANGHAI TO PROPERLY INCREASE CONSTRUCTION LANDS FOR 2022— Christophe Barraud🛢🐳 (@C_Barraud) May 29, 2022
South Korea passes a record extra budget worth $49.3 billion in what is likely to be the last round of such fiscal support to offset the economic impact of Covid https://t.co/PoQXIz1Vxm
— Bloomberg Economics (@economics) May 30, 2022
Politics
Approval ratings of Indian PM Narendra Modi’s government have risen to the highest since the start of the pandemic though there’s lingering concerns over the surging prices of essential items and unemployment, a latest survey shows https://t.co/50dYqDV1B7
— Bloomberg Economics (@economics) May 30, 2022
Trade, Supply Chain and Geopolitics
Europe
Economic Indicators and Prospects
Spanish inflation unexpectedly quickens, denting hopes that the euro zone’s record price surge is peaking and piling more pressure on the ECB to act https://t.co/UNDmhkowy6
— Bloomberg Economics (@economics) May 30, 2022
German Import Price Index (Y/Y) Apr: 1.8% (est 2.0%; prev 5.7%)
– Import Price Index (Y/Y) Apr: 31.7% (est 31.8%; prev 31.2%)— LiveSquawk (@LiveSquawk) May 30, 2022
Monetary Policy
ECB Chief Economist Philip Lane says normalization of monetary policy will be gradual as he reinforced President Christine Lagarde’s roadmap for exiting negative rates by the end of September https://t.co/6imZaMTxTn
— Bloomberg (@business) May 30, 2022
Fiscal Policy
The German government faces a “wake-up moment” on spending next year when constitutional limits on borrowing are reintroduced, Finance Minister Christian Lindner says https://t.co/sCGSCwfJMg
— Bloomberg Economics (@economics) May 29, 2022
Trade and Supply Chain
German exports could grow 2.5% this year if supply chain issues ease and there isn’t an embargo on Russian gas, according to the BDI Federation of German Industries https://t.co/1mCYW934A3
— Bloomberg Economics (@economics) May 29, 2022
Geopolitics
🇷🇺 🇪🇺 🇺🇦 Putin says he’s willing to discuss resuming Ukrainian grain shipments – Reutershttps://t.co/FKwtYvw9g4
— Christophe Barraud🛢🐳 (@C_Barraud) May 28, 2022
Focus on Sanctions
EU leaders had wanted to avoid talking about their sanctions stalemate at today’s summit but it’ll be a major topic https://t.co/Jl0VKfNF1O
— Bloomberg (@business) May 30, 2022
Attempts to get Hungary to back sanctions on Russian oil before EU leaders meet in Brussels have failed to make a breakthrough as yet.https://t.co/N7YqyayVvR
— POLITICOEurope (@POLITICOEurope) May 29, 2022
Other Areas And Global Economy
🌎🇪🇺 #Brent has topped $120/bbl this morning. Converted in €, on a monthly average basis, Brent is on track to hit a record high in May. pic.twitter.com/1VXYzT52f0
— Christophe Barraud🛢🐳 (@C_Barraud) May 30, 2022
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Author Christophe Barraud
