Shorts – Summaries

The Day Today 24th May 2022

ECB’s Villeroy de Galhau says “Frankly, if you look at President’s Lagarde’s statement [yesterday] morning, the deal is probably done because there is a growing consensus” and “I would play down the idea of a short-term trade off between inflation and growth. In the short run, our priority is clearly … fighting inflation” Fed Bostic on…

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The Day Today 23rd May 2022

Fed Bullard late Friday repeated he wants 3.5% rates at year’s end, also retailers who endlessly raise prices “some of them are going to get punched in the face” as consumers react to higher inflation. Australia’s new PM Anthony Albanese was sworn in and then immediately flew to an international summit, Quad nations, which is…

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The Day Today 20th May 2022

UK GfK consumer confidence falls to lowest level since records began fifty years ago. Japan core CPI above BOJ target for first time in seven years. China five year loan prime rate cut to 4.45% from 4.6%, this is a reference rate for home mortgages. Japanese mobile company NTT Docomo to close 30% of its retail locations and put customer service avatars in…

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The Day Today 19th May 2022

Australia unemployment falls below 4% for the first time since 1978. Tencent shares fell 8% after it reported its slowest revenue gain since going public in 2004. Target shares drop 25%, like WalMart the biggest one day drop since Black Monday 1987, on lower operating profit guidance. Fed Harker: “I anticipate a sequence of increases in the funds rate at a measured…

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The Day Today 18th May 2022

Powell on rate rises, “If that involves moving past broadly understood levels of neutral we won’t hesitate to do that… We will go until we feel we’re at a place where we can say financial conditions are in an appropriate place, we see inflation coming down… There won’t be any hesitation about that”. Fed Evans: “I do expect…

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