Memorial Day today, heading into month-end and its usual price action, OPEC+ meting (2nd June), Friday will bring EU HICP and U.S PCE, which will be important for both ECB (6th June meeting-25bps cut baked in) and FED's tone going into June 12th (nothing expected at this FOMC meeting - data been too strong, the likes of GS pushing back 1qst cut to Sep 2024 now), and plenty of CB speakers of course, just the 10 FED speakers alone this week
Why Biden's almost 100% capital gains tax increase would crush the stock market
US University of Michigan consumer sentiment : positive May, headline index revised up to 69.1 from a preliminary reading around 67 ''with signs that the pickup in realized inflation is weighing on growth exp and willingness to make large purchases''
G-7 against China: Chinese trade practices were criticized by G-7 finance chiefs, who threatened escalation
Goldman: Moving the First Fed Cut Back to September "We Expect Monthly Core CPI Inflation to Run in the High 20s on Average and Core PCE in the Low 20s in the Run Up to the September Meeting and Think That This Would Be Enough for a Rate Cut"
"A Japanese official conceded that chances of a breakthrough on free trade talks were low, stressing that “the most important thing is to make sure that tensions [in the region] will not escalate”."
Goldman: Peak oil demand is still a decade away. We raise our 2030E demand forecast to 108.5 mb/d from 106 mb/d, expecting peak oil demand to occur by 2034E at c.110 mb/d followed by a long plateau till
On the eve of next week’s EU election, French far-right leader Marine Le Pen is inviting Italian Prime Minister Giorgia Meloni to team up and form a right-wing super-grouping that would be the second-biggest party bloc in the European Parliament
South Africa's election could bring the biggest political shift since it became a democracy in 1994
‘Ministers from Finland, Norway, Poland and the three Baltic states said at the weekend that they had discussed creating a co-ordinated system of drones along their borders with Russia to prevent smuggling and further provocations’
Tesla shareholders advised to reject Musk's $56 billion pay
South Africa's election could bring the biggest political shift since it became a democracy in 1994 (msn.com)
As Treasury Secretary, Robert Lighthizer Would Help Trump Upend the Global Economy (foreignpolicy.com) '''Whatever the reason, I know two people who don’t think a “strong” dollar is a good idea: Donald Trump and his main trade adviser, Robert Lighthizer. Trump is promising to weaken the dollar if he gets back into office, and Lighthizer appears to be the one who came up with the idea:''
market will need a few failed UST auction or a BoJ/BoK/China interventions, both of which look unlikely, yet anyway...
Six new large mines need to come online annually by 2050 to meet global copper demand - study - MINING.COM
“A normal Honda Accord needs about 40 pounds of copper. The same battery electric Honda Accord needs almost 200 pounds of copper. Onshore wind turbines require about 10 tons of copper, and in offshore wind turbines, that amount can more than double,” said Adam Simon, co-author of the study. “We show in the paper that the amount of copper needed is essentially impossible for mining companies to produce.”
Biden's almost 100% capital gains tax increase would crush the stock market - Analysts By Investing.com
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