Eurozone PMI dropped in May due to manufacturing contraction
The composite PMI fell from 54.1 to 53.3 in May, which is the first decline since October last year. The divergence between services and manufacturing...
May 24 economic calendar
German trade sentiment, European Central Bank chief Lagarde, and UK inflation numbers are in focus ahead of the FOMC meeting....
German ZEW index adds to recent growth worries
The third drop in a row for the German ZEW index marks a turning point for the worse as any growth optimism from the start of the year evaporates...
The FED raised interest rates by 0.25%
In a March statement, the Fed suggested there would be no rate cuts until 2024. However, the market began betting on a rate cut in September, and afte...
Australia: Reserve Bank surprises with 25bp hike
Despite falling inflation, RBA Governor, Philip Lowe, justified the latest hike by saying that it would take time to bring inflation down and hinted t...
Federal Deposit Insurance Corporation accepts JP Morgan's offer for First Republic Bank
This has been going on since the weekend. Completion of the auction/deal means that First Republic Bank offices will reopen as JP Morgan branches ther...
Eurozone economy grew marginally in the first quarter of 2023, but divergence is high
The eurozone economy carries on along the rim of stagnation. A meagre 0.1% quarter-on-quarter GDP growth in the first quarter with high divergence acr...
Bank of Japan stays on hold but policy adjustment is coming
Based on upbeat activity data and higher-than-expected inflation, we believe the BoJ will take steps to normalise policy by adjusting its yield curve ...
Credit Suisse saw $69 billion in outflows at start of 2023
Credit Suisse Group AG reported 61.2 billion francs ($69 billion) of outflows in the first quarter and took a large writedown at its wealth management...
German Ifo improves marginally in April
An improving Ifo index is always good news. However, a weaker current assessment component and below-average expectations do little to take away the s...
'A credit crunch has started' as banks tighten lending by the most on record, Morgan Stanley CIO says
The credit crunch stemming from the fallout of Silicon Valley Bank has begun, with data showing clear tightening of lending standards by banks, accord...
China�s GDP for 1Q23 is better than expected
1Q23 GDP grew 4.5%YoY, much faster than the 2.9%YoY recorded for 4Q22. This is a better-than-expected data report. We expect that the government will ...
Eurozone retail sales decrease again in February despite upbeat surveys
Retail sales in February continued to decline, which makes it unlikely for a positive contribution to first quarter GDP. This suggests that there may ...