on this day 32years ago, April 28, 1991, women in the canton of Appenzell Inner Rhodes were able to take part in the Landsgemeinde for the first time...
US economy is losing steam: The US GDP grew 1.1% in Q1 2023 ann, slower than the expected 1.9% & slower than previous quarter (2.6%). The main drag came from significantly lower inventory accumulation, while private consumption remained strong
A tough day for Germany, GDP unchanged in Q1, and Q4 2022 was revised lower to 0.5%, Sbut...pain Q1 GDP up 0.5%, Italy up 0.5% and Portugal up 1.6%. North Rhine Westphalia April CPI +6.8% vs +6.9% y/y prior
BOJ keeps ultra-low rates, decides to conduct policy review etc..meanwhile Tokyo core CPI (which exclude fresh food prices...) rose to 3.5% in April, higher than the expected 3.2%
SNB Reports Q1 profit of 29bn, rebounds from 2022 record loss
Goldman raises BoE terminal rate call to 5%, UK government to U-turn on plan to scrap or revise all EU law, Natwest profits soar but customers withdraw £1bn as cost of living and tax bills bite
Amazon says cloud growth slowed as customers cut costs, "...AWS revenue rose 16% to $21.4 billion in the first quarter, the slowest growth rate since Amazon began breaking out the unit’s sales."
Spain's April heatwave! .. April !!!...how is it going to be in June, July ?.. insane
ECB and BOE should tread carefully with rate hikes, IMF says >>> sounds like they telling them to only do 25bps!
US officials reportedly coordinating rescue talks for First Republic Bank - hard to really tell!
Sudan ceasefire extended
Markets :
U.S equity, DOW had its best day since Jan, just like that. SPX500 back to testing those resistance levels, lots of sector rotation underneath. NQ and the big megacaps etc, overall earnings looking better than many feared
USDollar mixed, USDJPY higher after BoJ, USDCHF found some support 88.50 area, IF (big if) ECB only does 25bps next week, we could see top 1.1050 EURUSD in short-term
Crude near range lows, ''macroeconomic concerns, prospective rake hikes and a slower-than-anticipated pick-up in Chinese demand have restricted oil price gains''
Other commods softer, wheat, corn, lumber, iron ore, copper you name it - slowdown ! but good signs for lower inflation in months ahead (hopefully!)
High inflation still top concern for global economy
PowerPoint Presentation (podbean.com) >>> Troubled month for miners, led by iron ore producers
one wonder why ? what's changed their mind ?
28 april 1991
And, National voting rights for women in Switzerland were introduced in 1971, 65 years after Finland, the first country in Europe to do so, and 12 years after the men of canton Vaud were the first in Switzerland to vote in favour of women’s suffrage – for cantonal decisions.
Ban credit cards to fund accounts.. and stop firms coming up with silly advertising on every football short and TV programs..
have a wonderful weekend
Team PVM
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