Greetings,
United States: Private investment is back to its pre-COVID trend.
But the recovery has been uneven, with industrial equipment lagging.
United Kingdom: The May GDP estimate surprised to the downside.
China: The PBoC cut the reserve requirement rate.
Equities: Peak economic momentum does not necessarily mean a peak in stock prices.
Rates: The massive uptake of the Fed’s RRP program has drained a substantial amount of liquidity, which should be a positive for the US dollar.
Food for Thought: Taxing digital ads and the sale of personal data:
Edited by Richard Holmes
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