Overseas Headlines – June 9, 2022

United States:

US Jobless Claims Rise by Most Since July During Holiday Week

“Applications for US state unemployment insurance rose by the most in nearly a year during the week that included the Memorial Day holiday. Initial unemployment claims climbed broadly across states by 27,000 to 229,000 in the week eded June 4, Labor Department data showed Thursday. The figure topped all estimates in a Bloomberg survey of   economists. On an unadjusted basis, claims rose by about 1,000.”



Europe’s Bonds Slump to Send Risk Gauge Surging on ECB Hike Bets

“The yield on 10-year Italian bonds surged more than 20 basis points to the highest since 2018, after officials said they planned to lift rates by a quarter-point in July and opened the door to a bigger hike in September. That lifted the nation’s premium over German yields, seen as a barometer of debt risk in Europe, to the most since the early months of the pandemic.”



China’s Exports Show a Surprising Jump Out of Covid Lockdowns

“China’s exports surged in May as the easing of Shanghai’s lockdown allowed factories, workers and ships to catch up on stalled orders. The tougher question: How long will the boom last? Manufacturers and economists are warning that consumers globally are shifting their spending to services such as travel and tourism as the world adjusts to living with the virus.”



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