May 24 (Wednesday)
Latest Morning Briefing Executive Summary: Around The World
Global economic growth has been lackluster this spring, neither a boom nor a bust. Rebounding global trade and the easing of supply-chain disruptions should moderate global inflationary pressures without a global recession. The Fed and the ECB are committed to raising rates to restrictive levels and keeping them there to bring inflation down. The Fed’s rate is probably where it should be, while the ECB may have a couple more rate hikes to go. The BOJ’s ultra-easy policy continues. The PBOC is massively stimulating, suggesting all is not well in China. Today, we survey the major indicators of global economic growth for insight into how vulnerable the global economy is at this juncture.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 22.
Markets
S&P 500 closes 1% lower Tuesday as debt ceiling talks drag on in Washington | C
US Dollar Has More Room to Strengthen, Goldman Sachs Says | B
Column: China’s petroleum trade subdued at start of 2023 | R
Column: Aluminium is the West’s critical minerals blind spot | R
Central banks
Ex-Fed Chair Bernanke: There’s more work ahead to control inflation | C
US I
U.S. Growth Touches Fastest Monthly Rate in More Than a Year | W
Economy in better shape than doomsayers say: BlackRock exec | C
US II
Biden Tries to Close Debt-Ceiling Deal Democrats Sought to Avoid | W
Debt-Ceiling Deadline Tracker: Markets Jittery Despite Progress | B
Debt-Ceiling News: 9 Key Issues in Talks to Avoid US Default | B
Why it matters that McCarthy wants military spending ‘off the table’ | MSNBC
Ron DeSantis to Launch 2024 Presidential Run in Twitter Talk With Elon Musk | W
DeSantis campaign lines up fundraisers for White House race | C
House Members Offer Rare Bipartisan Immigration Measure | W
Industries & companies
Media: Netflix password sharing crackdown starts in U.S. | C
Media: HBO Max is now just ‘Max’—4 things to know about the streaming shakeup | C
Retail: Dior, Tiffany, Le Creuset: Why we’re buying luxury goods like crazy | Vox
Corporate finance
Choice Hotels Seeks to Buy Wyndham Hotels & Resorts | W
Virgin Orbit shuts down after selling assets in bankruptcy auction | C
