Overseas Headlines – July 1, 2022

July 1, 2022

 

United States:

Stocks Climb While 10-Year Yields Drop Below 2.9%: Markets Wrap 

Stocks rebounded after their worst first half in 52 years, with traders assessing the outlook for the economy. The S&P 500 erased losses at the end of a week marked by intense volatility. A rally in bonds pushed the yield on 10-year US notes below 2.9% while the dollar climbed, following its best quarter since 2016.

https://www.bloomberg.com/news/articles/2022-06-30/stocks-set-for-cautious-asia-open-amid-bond-rally-markets-wrap?srnd=premium#xj4y7vzkg

 

Europe:

Euro-Zone Inflation Hits Record, Boosting Case for Big Hikes 

Euro-area inflation surged to a fresh record, surpassing expectations and bolstering calls for the kind of aggressive interest-rate increases being deployed by central banks across the world. Driven once more by soaring food and energy costs, consumer prices jumped 8.6% from a year earlier in June — up from 8.1% in May. Economists surveyed by Bloomberg saw a gain of 8.5%. The median estimate in the poll has fallen short for 11 of the last 12 months.

https://www.bloomberg.com/news/articles/2022-07-01/euro-zone-inflation-hits-record-boosting-calls-for-big-hikes?srnd=economics-vp

 

Asia:

India Raises Gold Import Tax Amid Trade Deficit, Rupee Low 

India increased its import tax on gold in a surprise move that aims to reduce inflows to the world’s second-largest consumer, after the country’s ballooning trade gap pushed its currency to a record low. The import duty on gold was increased to 12.5% from 7.5%, according to a government notice dated June 30. This is a reversal of last year when India cut the tax to 7.5% in the federal budget.

https://www.bloomberg.com/news/articles/2022-07-01/india-raises-gold-import-tax-amid-trade-deficit-rupee-low?srnd=premium-asia#xj4y7vzkg

 

Disclaimer:

Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.

Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.

2022-07-01T10:04:31-05:00