Enough is enough

Recent events, including bank failures and last-minute fiscal policy adjustments, have made it clear to us there are issues with financial policymaking. Our analysts explain what we think went wrong and how regulators can get back on track.

 

U.S. consumer confidence slips as rate hike expectations grow

The bond market came under selling pressure in May, but consumer data showed spending resiliency despite growing pessimism on the labor front.

 

Read more here: Global Insight Weekly

 

China: (see chart from J.P. Morgan): “Revenue from land sales is down close to 30% YTD. Distressed developers accounted for almost 40% of the overall housing sector before the housing market tightening in 2021 and we see very limited appetite from these developers to announce new projects… “

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The S&P 495? Apple’s market cap (see Bloomberg chart below), is indicative of the tech-heavy momentum in US markets this year so far. “For another demonstration of just how top-heavy the market has become, Apple is now bigger than the entire market capitalization of the 2,000 smaller companies in the Russell 2000 index. It’s also bigger than the entire market cap of the Toronto Stock Exchange, while only the recent rebound of the pound has stopped it from overtaking the FTSE-All Share index of stocks listed in London.”

 

 

 

Enjoy your weekend!

 

 

Mark