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  • PVM

PVM BITs | Boeing CEO Muilenburg faces shareholders

Headlines

Facing shareholders for the first time since its best-selling 737 Max jet was grounded, Dennis Muilenburg insisted Boeing would 'work to re-earn trust'


Caixin Manufacturing 50.2 vs expected 50.9, official Manufacturing 50.1 vs expected 50.5 and Services PMI 54.3 vs expected 55.0 (chart) - China's April manufacturing PMI missed all but two forecasts with ALL major sub-components down compared to March, ‘’green shoots’’ : not so green

Auto sector : Near-record inventories pinch dealers, Floorplan costs, vehicle prices surge


The US and China resume trade talks in Beijing. Treasury secretary Steven Mnuchin said the countries are in their “final laps” with negotiations over enforcement mechanisms. Outstanding topics include intellectual property, technology transfers, agriculture, and services


The release of tepid euro zone GDP figures. Analysts expect quarterly economic growth of between 0.2% and 0.3%, as political uncertainty weighs on industrial production. Growth statistics are also due for France, Italy, and Spain


Trump team sues Deutsche Bank and Capital One to keep them from turning over financial records to Congress


Despite the earnings beats (above), companies have turned much more cautious on growth. (chart)


JPMorgan: We Are Fast Approaching The Point Where Banks Run Out Of Liquidity


Saudi Energy Min Falih: Saudi Oil Output Will Be Significantly Below 10Mln BPD Till May -End


Tory activists tell Theresa May she will face unprecedented bid to oust her over Brexit. Senior Labour sources say that the May gov't appeared to have shifted its position on the party’s key demands around a closer customs union with the EU after Brexit; there's some progress over incorporating a revised political declaration


UK the third-most popular investment destination globally



Markets

Bonds remain firm, low inflation, core US PCE came in at 1.6% yoy


USD slightly softer after U.S. PCE, but all within pretty tight ranges still, although USDKRW highest level YTD, USDTRY near 6, and few other EMG struggling lately, crossjpy’s slightly lower as USDJPY failed ahead of 112


Equities made new highs, Alphabet dragged futures lower after hours though, SHCOMP stalling/consolidating near highs, Apple after the close today, DAX hanging in there near recent highs too – few signs of sellers/shorts reappearing though


WTI came off its perch on Trump’s comments the other day, lows below $63 WTI

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