In today’s briefing:
- UK: Some Workshy Start Looking
- Assessing Potential US Inflation Risks
- Actinver Research – Macro Daily: Inflation (2h-May)
- CX Daily: Degrees of Uncertainty Make Chinese Students Rethink the Benefits of a U.S. Education
- Egypt – Higher Inflation, Net Foreign Assets Fall Back, PMI Higher but Still Below 50!
UK: Some Workshy Start Looking
- A broadly softer labour market report could easily be used to overstate the fundamental significance. Unemployment’s rise was expected and only 0.2pp on the year.
- Employment is growing and redundancies are low, but when the inactive look for work, long-term unemployment rises. Yet the workshy will struggle to compete for jobs.
- Wage growth slowed despite a 0.5% m-o-m impulse. Costs are rising excessively fast, so the BoE still doesn’t have space to keep easing, and we expect no more rate cuts.
Assessing Potential US Inflation Risks
- Trading Post is not forecasting a resurgence in inflation. Any tariff induced pick will be transitory.
- If there is an upside risk – its the weakness of the US dollar.
- Global food prices are elevated but not worryingly so while commodity prices led by energy are soft.
Actinver Research – Macro Daily: Inflation (2h-May)
- Inflation for the second half of May stood at 0.19% biweekly (4.62% YoY).
- Agricultural products showed widespread price pressures, and the Hot Sale discounts did not materialize to the anticipated extent.
- The observed figure came in above market consensus of 0.11% biweekly and above our estimate of 0.15% biweekly.
CX Daily: Degrees of Uncertainty Make Chinese Students Rethink the Benefits of a U.S. Education
- Cover Story: Degrees of uncertainty make Chinese students rethink the benefits of a U.S. education
- In Depth: How guardians can support China’s swelling ranks of solo seniors
- Vietnam attracts global manufacturers despite U.S. tariff increases
Egypt – Higher Inflation, Net Foreign Assets Fall Back, PMI Higher but Still Below 50!
- Media, investigative journalists, bloggers .. We hear a lot those days about the death of traditional media, networks, newspapers.
- Mainstream in the eyes of many has lost all credibility. Like experts of all kinds. Now info channel is X!
- There are still a few though who make it a mission to dig deep and report.
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