Shorts – Summaries

The Day Today 15th June 2022

ECB Schnabel said they will fight any “disorderly” blowout in borrowing costs and “commitment to the euro is our anti-fragmentation tool. This commitment has no limits” following ECB comments last week saying they would not tolerate fragmentation. Chinese data was better than expected as Retail Sales fell 6.7% yoy vs f/c -7.1%, IP rose 0.7%…

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The Day Today 14th June 2022

WSJ reports the Fed may raise 75bp this week. Binance halted withdrawals of Bitcoin yesterday after Celsius also blocked customers due to “extreme market conditions”, the price of Bitcoin fell up to 10.3% today. EU will launch three lawsuits against Britain after the UK government’s Protocol Bill. A controversial remark by the Governor of the BOJ,…

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The Day Today 13th June 2022

US average gasoline prices hit $5 a gallon for the first time. President Zelensky warns “the world will face an acute and severe food crisis and famine”. Japan Chief Cabinet Secretary Matsuno says “we are concerned about”… “sharp yen declines”… “ready to respond appropriately as needed”. Mass testing begins in most populous district of Beijing to deal with “ferocious” Covid outbreak. S…

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The Economist: Finance and economics articles summarised (10th June 2022)

Economic warfare Legal and practical hurdles stand in the way of seizing Russian assets to help rebuild Ukraine. It has been estimated the cost of rebuilding Ukraine currently stands at $600bn, Russian central bank assets currently “hindered” stands at $400bn but they’re not even technically frozen let alone seized. As regards private assets the EU…

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The Day Today 10th June 2022

China inflation eases, with Producer Price rises cooling to slowest in fourteen months at 6.4% y/y from 8.0% in April. US Tsy Sec Yellen says “there’s nothing to suggest that a… recession is in the works” but growth would “absolutely” slow down. Shanghai to test all residents in 14 of 16 districts as Covid cases emerge ten days after lockdown…

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