HIROSHIMA, Japan - G7 - The United States and the rest of the "Group of Seven" major economies will unveil new sanctions and export controls targeting Russia over its war against Ukraine, a U.S. official said ahead of a G7 summit in Japan
Britain is banning Russian diamonds in a new wave of sanctions to pressure Vladimir Putin over his invasion of Ukraine as Rishi Sunak warns allies against complacency at the G7 summit in Japan
The recession is just around the corner, 'they' all saying, by now it's consensus >>> and yet global yields are ripping higher AND stock markets hitting new highs (worth noting the weak breath though, megacaps vs RTY etc...)
Applications for US unemployment benefits fell by most since 2021 following fraud-inflated figures in previous weeks. Initial unemployment claims fell by 22k to 242k. On an unadj basis, claims decreased by most in 2mths, to 215,810, largely due to a drop in Massachusetts
FED's Logan said “the data in coming weeks could yet show that it is appropriate to skip a meeting. As of today, though, we aren’t there yet,” calling for another rate hike in June
China surpasses Japan as world's top auto exporter. Tesla EVs and Russian deliveries drive industry into lead
Fed balance sheet keeps shrinking for an 8th week (Thread-chart)
German PPI keeps falling - a good for CPI!... PPI dropped to 4.1% in April from 6.7% in March, so PPI now 3.1% below CPI...
BoJ's Governor Ueda: My view is that the BoJ's QE adopted in 2001 has had limited effect in stimulating the economy - will you change YCC policy though ?
Markets :
DAX all time highs pretty much, 40% off that early October 2022 lows, during same period QQQ is up 35% (hourly charts bit overdone..), Nikkei highest levels since August 1990, AND of course AI stocks had a stonking year with the Russell flat for the year. SPX500 looks to be going through that 4150/4200 resistance zone too, looks like everyone is back to buy-the-dip mood then!
USADollar stays strong(er), with CROSSJPY's motoring higher with higher global yields
Crude and few commods showing signs of life, metals got chopped for the same reasons
It's long, but if you have time, it's pretty entertaining!
Brexit such a success, Hunt has to bride JLR with 500mio £ to stick around
The media loving it, why do ''they'' love people losing money? shadenfreude!
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