Overseas Headlines – September 1, 2021

United States:

U.S. Companies Add Fewer Jobs Than Forecast, ADP Data Show

“U.S. companies added fewer jobs than expected in August, reflecting persistent hiring challenges and suggesting a slowdown in the labor market recovery. Businesses’ payrolls increased by 374,000 last month, after a revised 326,000 gain in July, according to ADP Research Institute data released Wednesday. The figure fell short of all estimates in a Bloomberg survey of economists.”



ECB Shouldn’t Disregard Risk of Higher Inflation, Weidmann Says

“Bundesbank President Jens Weidmann said European Central Bank officials shouldn’t disregard the risk that inflation could accelerate faster than currently anticipated, adding his voice to an intensifying debate ahead of the institution’s policy meeting next week. “We have to watch the risks to the outlook for prices. In my view, upside risks predominate,” the German central bank chief told a conference on Wednesday, according to a copy of his speech. “Accommodative monetary remains appropriate. But we shouldn’t disregard the risk to too-fast inflation.”



BOJ Deputy Governor Hints at Possible Economic Downgrade

“Bank of Japan Deputy Governor Masazumi Wakatabe signaled that the central bank may revise down its economic assessment at this month’s policy meeting after a record number of infection cases forced the expansion and extension of a state of emergency. Wakatabe said the economy was in a “severe state” and pointed out negative factors for Japan’s economy in an online speech to local business leaders in Hiroshima on Wednesday before indicating a recovery was still under way as a trend. Since the start of 2021, BOJ officials have put more emphasis on the picking-up trend.”




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 affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned here