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.”



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.”



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.”



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.