The month of May began with another bank failure. The FDIC seized assets from First Republic Bank (FRC), which were then purchased by JPMorgan Chase. FRC became Second largest bank to go bust in US history SVB snubbed the mantle of SVB. Morgan Stanley Plans to Invest in Yourself cut 3,000 jobs A slowdown in dealmaking is expected by the end of July. RBA increased its cash rate from 3.850% to 3.850 bps.Many forecasters expected a third consecutive pause.
Treasury yields Closed sharply higher due to inflation data, Fed concerns, a busy corporate calendar and upward revisions of Q2 borrowing estimates. US manufacturing sector experiences longest contractionary streak in US since 2009.. The stock markets are still choppy and in search of direction.
- FX – USDIndex kicked 102.03 In the morning, but now turned lower. USDJPY Continue to extend gains on the fourth day. 137.70, Market uncertainty is creating a lot of confusion.
- Stocks – It is important to note that the word “you” means “you”. US30 The dollar fell by -0.14%. US500 The following are some examples of how to get started: US100 The Nikkei and the Hang Seng were both slightly higher. Nikkei, Hang Seng and the FTSE managed modest gains. #Amazon -3.22%, #Tesla -1.35%, #JPM +2.14%, #Meta +1.19%.
- Commodities – USOil Fallen leaves $74.35 Weak economic data from China, and expectations that the US will be interested in China…