Finance Friday

Market Data

Local

Global

*Data as of 6pm WAT

Market News

Local

Global

Weekly Investment Watchlist

Market Commentary

Asia and Australia

• South Korea consumer prices rose 3.3% y/y in May versus April's 3.7%, slowing for fourth straight month.

• Australian minimum wage to rise by 5.75%, economists revise up RBA peak rate forecasts.

• China Evergrande Unit Misses Payments on Wealth Management Products.

• China is considering a new range of stimulus packages to bolster their real estate sector.

• Japan equity inflows reinforce renewed foreign interest; TSE data showed foreigners were net buyers for a ninth straight week.

Europe, Middle East, Africa

• All eyes are on the OPEC+ meeting due to take place on Sunday in Vienna.

• Attention is on French debt sustainability with S&P to provide a ratings update on France after the close. The rating agency is due to issue its credit rating on Friday evening, a month after a first warning from its competitor Fitch. A further downgrading for France would cast doubt on the government's ability to reform in a tense social climate.

• Automakers have been pushing for a delay in post-Brexit trade rules, which could result in new levies from next year.

• UK pension lifeboat fund will cut exposure to equities by one-third due to high inflation

The Americas

• Fed’s Harker says official should at least skip June hike

• Debt ceiling deal eliminates possibility of Biden campaign promises like tax increases on the wealthy and corporations

• ISM report suggests companies may be "hoarding" workers in anticipation of a 2H pickup

• Companies may be correcting overpaying wages in recent years with reductions in force

The Week Ahead:

• Monday: Fed talk - Bullard, Barkin, Bostic, Daly

• Tuesday: US Manufacturing PMI comes in at 48.5; est: 50.2, US new homes sales come in at 683k; est: 663k.

• Wednesday: FOMC minutes

• Thursday: ADP monthly employment change comes in at 278k; est 170k, US initial jobless claims come in at 232k; est 235k, Payrolls rose 339,000 in May, beating expectations of 180,000.

• Friday: Core PCE, personal income & spending, durable goods orders, Michigan consumer sentiment

Investment Tip of The Day

Meme of the Day

Disclaimer: The information contained in this report is intended for informational purposes only and should not be considered as investment advice. The information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed.