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DAX ATH's, Nikkei / German PPI⬇️/ G7 in Japan and Powell, on the menu later today

  • HIROSHIMA, Japan - G7 - The United States and the rest of the "Group of Seven" major economies will unveil new sanctions and export controls targeting Russia over its war against Ukraine, a U.S. official said ahead of a G7 summit in Japan

  • Britain is banning Russian diamonds in a new wave of sanctions to pressure Vladimir Putin over his invasion of Ukraine as Rishi Sunak warns allies against complacency at the G7 summit in Japan

  • The recession is just around the corner, 'they' all saying, by now it's consensus >>> and yet global yields are ripping higher AND stock markets hitting new highs (worth noting the weak breath though, megacaps vs RTY etc...)

  • Applications for US unemployment benefits fell by most since 2021 following fraud-inflated figures in previous weeks. Initial unemployment claims fell by 22k to 242k. On an unadj basis, claims decreased by most in 2mths, to 215,810, largely due to a drop in Massachusetts

  • FED's Logan said “the data in coming weeks could yet show that it is appropriate to skip a meeting. As of today, though, we aren’t there yet,” calling for another rate hike in June

  • China surpasses Japan as world's top auto exporter. Tesla EVs and Russian deliveries drive industry into lead

  • Fed balance sheet keeps shrinking for an 8th week (Thread-chart)

  • German PPI keeps falling - a good for CPI!... PPI dropped to 4.1% in April from 6.7% in March, so PPI now 3.1% below CPI...

  • BoJ's Governor Ueda: My view is that the BoJ's QE adopted in 2001 has had limited effect in stimulating the economy - will you change YCC policy though ?


Markets :
  • DAX all time highs pretty much, 40% off that early October 2022 lows, during same period QQQ is up 35% (hourly charts bit overdone..), Nikkei highest levels since August 1990, AND of course AI stocks had a stonking year with the Russell flat for the year. SPX500 looks to be going through that 4150/4200 resistance zone too, looks like everyone is back to buy-the-dip mood then!

  • USADollar stays strong(er), with CROSSJPY's motoring higher with higher global yields

  • Crude and few commods showing signs of life, metals got chopped for the same reasons


In pictures: G-7 opens with protests, remembrance, plenty of police - Nikkei Asia

U.S. Treasury yields: investors weigh Fed interest rate outlook (

First Thing: Zelenskiy to attend G7 in person as leaders prepare new Russian sanctions | US news | The Guardian

Mohamed A. El-Erian on Twitter: "Ahead of tomorrow's remarks by #FederalReserve #Powell: Statements by several speakers so far this week have increased market expectations of another rate hike in June (see below) while also exposing the wide range of individual views--from the last hike was unnecessary to…" / Twitter

Watch Elon Musk's full interview with CNBC's David Faber on Twitter, Tesla and A.I. advances

It's long, but if you have time, it's pretty entertaining!

The Nasdaq is on the verge of exhaustion, says famed technical strategist Tom DeMark - MarketWatch

Jeremy Hunt offers Jaguar Land Rover £500m to keep factory in UK (

Brexit such a success, Hunt has to bride JLR with 500mio £ to stick around

UK on path away from recession as hiring and growth ramp up (

Holger Zschaepitz on Twitter: "Fed balance sheet keeps shrinking for an 8th week. Total assets drop by $46.3bn to $8.457tn. Balances of the bank lending facilities shuffled around a little bit, as discount window & BTFP borrowing rose $3.7bn while credit extended to FDIC fell $4bn. Treasury holdings fell…" / Twitter

Russia blood diamonds are latest Kremlin sanction from UK (

Lisa Abramowicz on Twitter: "Perhaps the idea of a full-blown regional bank crisis is off the table for now, but signs stress remain. Among them: banks keep tapping the Fed's Bank Term Funding Program for more loans." / Twitter

Ukraine war live: Russia unlikely to take Bakhmut soon, Wagner chief admits (

Rishi Sunak and his wife 'lost £500k a day' last year - as Sunday Times Rich List reveals UK's wealthiest people | Business News | Sky News

The media loving it, why do ''they'' love people losing money? shadenfreude!

Scars and stripes: the horror of US poverty (

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