Think Thursday

Ranora Daily - Your daily source for reliable market analysis and news.

May 25, 2023

Market Data

Local

Global

*Data as of 6pm WAT

Market News

Local

Global

Weekly Investment Watchlist

Market Commentary

Asia and Australia

  • Bank of Korea's kept benchmark 7D repo rate unchanged at 3.5% for third consecutive meeting, as widely expected, also cut its FY23 GDP forecast.

  • China's economic growth will get a bigger boost if PBOC cuts RRR for banks rather than interest rates.

  • Singapore's economy grew by 0.4% y/y in Q1 versus flash estimate 0.1% but, export outlook cut.

Europe, Middle East, Africa

  • Q1 final GDP for Germany was (0.3%) vs 0.0% expected q/q, or (0.5%) vs (0.1%) expected y/y. - confirms a winter recession.

  • French business confidence fell back below its long-term average in May at 99 versus consensus 101 and prior 101

The Americas

  • McCarthy still optimistic of reaching debt ceiling deal in time to avert default but gaps remain on spending levels. Spending cuts will not bode well for GDP growth, since Government spending was the largest boost to Q1 GDP.

  • The May FOMC meeting minutes showed officials split on need for further hikes, as some stressed that the language in the policy statement should not be interpreted as signaling either that decreases in the target range are likely or further increases in the target range had been ruled out.

  • Yields on T-bills maturing in early June surge above 7% amid debt ceiling fears

  • Meta slashes business teams in final three-part-round of layoffs

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: Initial jobless claims, GDP growth, pending home sales

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

Investment Tip of The Day

Regularly monitor the performance of your investments and assess whether they are meeting your expectations. If certain investments consistently underperform or no longer align with your goals, consider making adjustments.

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.