Wealth Wednesday

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

May 24, 2023

Market Data

Local

Global

*Data as of 6pm WAT

Market News

Local

Global

Weekly Investment Watchlist

Market Commentary

Asia and Australia

  • RBNZ raised OCR by 25 bp to 5.50% as expected; maintained its forecast for a peak OCR of 5.50%, contrasting with consensus for a higher terminal rate.

Europe, Middle East, Africa

  • UK inflation eased in April but surprised to the upside with an 8.7% y/y outturn versus consensus 8.2% and prior 10.1%. The fall was entirely down to electricity and gas prices. Core inflation remains at its highest since March 1992

  • Latest German Ifo business climate survey missed expectations. May headline index at 91.7 versus consensus 93.0 and prior 93.4

The Americas

  • Treasury Department has asked federal agencies whether they can make upcoming payments at a later date

  • Treasury bills due in early June around potential default continue to include significant yield premium

  • PacWest reaches deal to sell real-estate lending division

  • The world’s 1,200 biggest public companies collectively issued $326.7bn in dividends in the first quarter of 2023, a rise of 12 per cent on the same period a year ago, according to a quarterly report from fund manager Janus Henderson.

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

Consistently contributing to your investments, even in small amounts, can have a significant impact on your long-term returns. Set up automatic contributions to ensure a disciplined approach.

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.