Overseas Headlines – July 5, 2022

July 5, 2022


United States:

Oil-Price Boosting US Gasoline Market Is Starting to Cool Down

It’s been a tailwind for oil prices for most of this year, but the previously booming US gasoline market is showing a few signs of cooling off.

Retail prices have now fallen for 21 consecutive days, the longest losing streak since April 2020. The relief at the pump is welcome news for many in the US who rely on cars for work and leisure, and to President Joe Biden as he tries to lower fuel costs. Meanwhile in the futures market, money managers are holding the fewest bullish bets relative to bearish ones since November.



Bank of England Says Global Outlook Has ‘Deteriorated Materially’

The Bank of England said the global economic outlook has “deteriorated materially” after surging commodity prices pushed up inflation around the world, posing a further downside risk in months ahead.



Foreign Investors Drained $40 Billion From Emerging Asia Last Quarter, and It Could Get Worse

Some of Asia’s biggest stock and bond markets outside China are seeing greater outflows than in previous market crises, and the process may just be getting underway.

Global funds offloaded a net $40 billion of equities across seven regional markets last quarter, exceeding any three-month period characterized by systemic stresses since 2007. The steepest selling was in tech-heavy Taiwan and South Korea and energy-importing India, while foreign investors also made supersized outflows from Indonesian bonds.




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.