Overseas Headlines – May 26, 2022

United States:

US Jobless Claims Fall More Than Forecast in Tight Labor Market

“Applications for US unemployment insurance declined last week by more than forecast, underscoring a persistently tight labor market. Initial unemployment claims decreased by 8,000 to 210,000 in the week ended May 21, Labor Department data showed Thursday.”

https://www.bloomberg.com/news/articles/2022-05-26/us-jobless-claims-fell-by-more-than-forecast-last-week?srnd=economics-vp

Europe:

Russian Rate Cut Tops Most Forecasts and Halts Ruble’s Rally

“Russia’s central bank delivered its third interest-rate reduction in just over a month and said borrowing costs can fall further still, halting a rally in the ruble as it unwinds the financial defenses in place since the invasion of Ukraine.”

https://www.bloomberg.com/news/articles/2022-05-26/bank-of-russia-cuts-rates-again-and-takes-aim-at-ruble-s-rebound?srnd=economics-vp

Asia:

China’s Economic Slump Shows No Signs of Bottoming Out in May

“China’s economy remained deep in a slump in May as lockdowns continued to weigh on activity, and as the threat of omicron and expanded restrictions dampened sentiment.”

https://www.bloomberg.com/news/articles/2022-05-26/china-s-economic-slump-shows-no-signs-of-bottoming-out-in-may?srnd=economics-vp

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2022-05-26T08:35:45-05:00