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Rise and shine everyone.
The market is trading higher this morning with news of a debt ceiling deal in place. The US Dollar is mostly flat. Copper and oil is lower while Gold is trying to recover. Bitcoin is higher trading close to $28,000. While the shorter end of the curve is higher, the long end has dipped again inverting the yield curve further to -0.79%.
We are at the tail end of earnings season with a few interesting tech and retail names reporting this week. Finally, we end the week with unemployment data released on Friday.
Asia and Australia
Asian equities ended mixed Tuesday.
Chinese equities in bear market territory after Hang Seng China Enterprises index extended retreat from late-Jan peak to 20%
Japan unemployment rate falls for first time in three months, boding well for wage growth
Hong Kong banks borrow largest amount of short-term cash from HKMA's discount window since Jan-2021
Australian building approvals drop to lowest in 11-years
Europe, Middle East, Africa
European equity markets mixed with the Stoxx 600 and Germany higher. UK and France lower.
Spanish inflation slowed more than expected to nearly a two-year low in May
UK shop prices hit new record but food prices ease
Eurozone M3 money supply growth continued to trend lower in April, up 1.9% y/y versus consensus 2.1% and prior 2.5% gain
Eurozone sees further signs of slowdown in credit creation, with loans to households up 2.5% versus prior 2.9%, while loans to non-financial firms at 4.6% from 5.2%.
The Americas
White House and GOP leaders confident they have enough votes to pass debt ceiling agreement
Wall Street lenders return to funding leveraged buyouts after painful year in which fees were hit hard
Calendars
(news taken from Reuters, FT, Bloomberg; Calendar from Trading Economics)
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