Overseas Headlines – May 17, 2022

United States:

Bank of America Clients Hoard Cash at Highest Level in Two Decades

“Investors are piling into cash as the outlook for global growth plunges to an all-time low and stagflation worries mount, according to a Bank of America Corp. fund manager survey that points to continued stock market declines.”

https://www.bloomberg.com/news/articles/2022-05-17/bofa-clients-hoard-cash-at-2001-high-as-stagflation-woes-surge?srnd=economics-vp

Europe:

Euro-Area Economy Grew More Than Estimated at Start of Year

“The euro-area economy grew more than initially estimated at the start of the year as the region moved past a wave of Covid-19 infections and defied headwinds from the early days of the war in Ukraine.”

https://www.bloomberg.com/news/articles/2022-05-17/euro-area-economy-expanded-more-than-estimated-at-start-of-year?srnd=economics-vp

Asia:

Goldman Sachs Raises Japan Inflation Bets on Yen, Food Prices

“Goldman Sachs Group Inc. raised its inflation forecasts for Japan as the yen’s slump and faster-than-expected food price hikes add to upward pressure. Core inflation excluding fresh food will increase 1.6% this year this year and 1.9% next year, analyst Tomohiro Ota wrote in a note Tuesday.”

https://www.bloomberg.com/news/articles/2022-05-17/goldman-sachs-raises-japan-inflation-bets-on-yen-food-prices?srnd=economics-vp

Disclaimer:

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