Wealth Wednessday

Market Data

Local

Global

*Data as of 6pm WAT

Market News

Local

Global

Weekly Investment Watchlist

Market Commentary

Asia and Australia

• China’s Official manufacturing PMI was 48.8 in May, below consensus 49.5. - still in contractionary territory. The Caixin PMI data is to be released later today.

• Bank of Thailand raises base rate 25 bps to eight-year high at 2%.

• Japan’s Industrial production fell 0.4% m/m in April against expectations of a 1.4% gain.

• Japan’s Retail sales fell 1.2% m/m vs consensus forecast of a 0.5% rise.

• Australian monthly CPI inflation rose to 6.8% y/y in April from 6.3% in March, higher than consensus 6.4%.

• China launched a team of three, including the nation’s first civilian astronaut, into orbit on Tuesday in the first crewed mission since the completion of its space station late last year

Europe, Middle East, Africa

• France inflationary pressures declining visibly. May CPI was 5.1% vs 5.5% expected and 5.9% prior - weakest data in over a year.

• German April import prices declined 7% y/y vs (5.8%) expected and (3.8%) prior, the most since the Covid crisis in 2020.

• UK business confidence registers first drop in three months - The Lloyds Bank Business Barometer fell 5 points in May to 28%

• EU banks provided more detail on CRE exposure with Q1 results. Average CRE prices declined ~20% from 2022 peak.

The Americas

• Cleveland Fed President Mester sees no compelling case to wait before next rate hike

• Economists see GOP big spending cuts measure of the debt-ceiling pact as "modest" with little impact likely on the economy

The Week Ahead:

• Monday - Markets Closed

• Tuesday

  • S&P Case-Shiller home price index (20 cities) rose 0.4% in March

  • US Consumer Conference board comes in at 102.3; est 99.

• Wednesday

  • 8:15 am ADP employment

  • 10:00 am Job openings

• Thursday

  • 8:30 am Initial jobless claims

  • 8:30 am U.S. productivity

  • 9:45 am IS&P U.S. manufacturing PMI

  • 10:00 am ISM manufacturing

• Friday

  • 8:30 am U.S. employment report

  • 8:30 am U.S. unemployment rate

  • 8:30 am U.S. hourly wages

  • 8:30 am Hourly wages year over year

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.