Greetings,
United States: First, consumers dipped into their savings, which dropped to the lowest level since 2008 as a percentage of disposable income.
The Eurozone: Germany’s May CPI report surprised to the upside, giving the ECB hawks more ammunition to push for a 50bps hike in July.
Asia-Pacific: Asian currencies have been rebounding. Here is the Taiwan dollar.
Energy: Brent crude surged as European leaders agreed to ban some 90% of Russian oil. This price jump, combined with Germany’s CPI report, reignited global inflationary fears.
Commodities: This chart shows last week’s performance across commodity markets.
Emerging Markets: LatAm assets outperformed last week. Here is the performance of dollar-denominated Equity ETFs.
Food for Thought: Lastly, here is the distribution of global GDP over the past 2,000 years:
Edited by William Villacis
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