Shorts – Summaries

The Day Today 26th May 2023

BOJ Ueda said an option for tweaking Yield Curve Control could be to target the 5yr rather than the 10yr yield. Turkey FX reserves turned negative, falling to lowest level since February 2002. Australia retail sales flat on the month against expected 0.2% rise as consumers cut back on dining out and buying household goods. Survey showed 40% of Germans believe the governing coalition will…

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The Day Today 25th May 2023

Fitch put the US on negative watch due to “increased political partisanship that is hindering reaching a solution to raise or suspend the debt limit despite the fast-approaching x-date”. Fed Minutes showed a split between “Some” members who feared progress on reducing inflation was “unacceptably slow” and “Several” who felt “further policy firming after this meeting…

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The Day Today 24th May 2023

UK headline inflation 8.7% against 8.2% expected and down from 10.1% in March, food price inflation steady at 19.1% from 19.2%. RBNZ raised rates 25bp to 5.5% as expected although the Minutes showed two of seven MPC members dissented and a pause was discussed. Ron DeSantis expected to launch his bid for the Republican presidential nomination tonight in a live Twitter Spaces interview. US…

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The Day Today 23rd May 2023

US President Biden and Republican Kevin McCarthy have still not reached a deal although of their talks last night McCarthy said “I believe we can get a deal done” and Biden said “default is off the table”. TikTok filed a lawsuit against Montana for banning its app. Japan’s inflation-adjusted wages fell the most in eight…

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The Day Today 22nd May 2023

China bans major chip maker Micron from key infrastructure projects over security risk. China left prime lending rates unchanged. President Biden said to reporters at end of G7 summit that he expected ties with China to improve “very shortly”. Biden and McCarthy to meet today after a call yesterday that both sides described as positive. Power in the Ukrainian nuclear plant Zaporizhzhia switched to standby according…

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