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.”
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.”
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.”
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