Overseas Headlines – June 2, 2022

United States:

US Labor Market to Show Emerging Dichotomy of Tightness, Risks

“The likely moderation of US job growth in coming months will reflect a combination of hiring challenges in a remarkably tight labor market, shifts in spending patterns and outright soft spots within a handful of industries. Some sectors, like travel and entertainment, are expected to make up a large share of aggregate payrolls growth as Americans allocate more of their discretionary income to services.”



Recession Threat Has Markets Doubting BOE on Rates

“As a recession looms over the economy, the central bank has signaled it’s wary of tipping the UK over the edge by moving too aggressively. But money market traders are holding tight to bets for a rapid tightening.”



China Reminds New Zealand Not to Take Positive Brand For Granted

“Beijing has reminded Wellington of New Zealand’s reliance on China as a trading partner, saying the South Pacific nation’s positive clean, green brand shouldn’t be “taken for granted.” In China, there is widespread cognizance of New Zealand as a green, clean, open and friendly country, China’s Ambassador to New Zealand, Wang Xiaolong, said in a speech posted late Wednesday on the Embassy’s website.”



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