Overseas Headlines – June 8, 2022

United States:

Biden Faces Doubts on US Clout as Leaders Skip Americas Summit

“President Joe Biden’s attempt to shift focus to the Western Hemisphere has gotten off to a bumpy start, with the leader of Mexico snubbing his invitation to a Los Angeles summit this week and doubts swirling about the strength of US influence in the region. The White House has billed the Summit of the Americas that Biden will attend starting Wednesday as a chance to tackle regional challenges including migration, climate change and economic disparities. Yet the president’s attention has been diverted by unrelenting crises including inflation, the war in Ukraine and a baby-formula shortage in the world’s largest economy.”

https://www.bloomberg.com/news/articles/2022-06-08/biden-faces-doubts-on-us-clout-as-leaders-skip-americas-summit?srnd=premium#xj4y7vzkg

Europe:

Euro-Area Inflation Is Set to Peak in Third Quarter

“While headline inflation in the euro area is running at similar rates to the US, the composition is quite different: Energy accounts for the bulk of the spike this year, with more modest contributions from goods and services costs. Bloomberg Economics sees inflation peaking at close to 8% in the third quarter, before falling back through 2023. Price gains won’t return to the European Central Bank’s 2% target until the end of next year.”

https://www.bloomberg.com/news/articles/2022-06-08/euro-area-inflation-is-set-to-peak-in-third-quarter-chart#xj4y7vzkg

Asia:

China Export Boom Fades as Buying Shifts, Cheap Rivals Gain

“After two years of record exports, Chinese manufacturers are turning downbeat as consumers in their biggest markets curb spending and Covid lockdowns drive customers to competitors in the region. With most of the world now living with the coronavirus and travel and other leisure activities resuming, consumers are cutting back on spending on Chinese-made laptops, phones and other work-from-home goods that propelled the nation’s exports and fueled the economy’s recovery from its pandemic slump in 2020.”

https://www.bloomberg.com/news/articles/2022-06-07/china-export-boom-fades-as-spending-shifts-cheaper-rivals-gain?srnd=economics-vp#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 effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.

2022-06-08T09:17:31-05:00