Greetings,
The United States: The market sees rate cuts starting as soon as July, despite the FOMC minutes stating “no participants anticipated that it would be appropriate to begin reducing the federal funds rate target in 2023.”
The labor market imbalance persists, with over 1.7 job openings per unemployed American.
China: Beijing is stepping up its efforts to bail out property developers. Developers’ stocks and bonds are rallying (two charts).
The United Kingdom: Foreigners continue to dump gilts.
Japan: Traders are pressing their bets against the BoJ’s yield control policy via JGB futures.
Equities: Earnings expectations have been correlated with US job openings.
Food for Thought: Lastly, here are expected cybercrime costs:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
