The major Asian stock markets had a mixed day today:
The major Asian currency markets had a mixed day today:
Some economic news from last night:
Services PMI increased from 55.4 to 56.3
Some economic news from today:
BoJ Core CPI (YoY) increased from 2.9% to 3.0%
Core CPI (YoY) (Apr) remain the same at 5.00%
CPI (YoY) (Apr) increased from 5.5% to 5.7%
The major Europe stock markets had a negative day today:
The major Europe currency markets had a mixed day today:
Some economic news from Europe today:
French Manufacturing PMI (May) increased from 45.6 to 46.1
French Services PMI (May) decreased from 54.6 to 52.8
German Manufacturing PMI (May) decreased from 44.5 to 42.9
German Services PMI (May) increased from 56.0 to 57.8
Composite PMI decreased from 54.9 to 53.9
Manufacturing PMI decreased from 47.8 to 46.9
Services PMI decreased from 55.9 to 55.1
Manufacturing PMI (May) decreased from 45.8 to 44.6
S&P Global Composite PMI (May) decreased from 54.1 to 53.3
Services PMI (May) decreased from 56.2 to 55.9
US Treasury Secretary Janet Yellen has reiterated that June 1 is a “hard deadline” for raising the federal debt limit. Yellen warned that there would be hard choices to make about payments to Americans if Congress failed to raise the $31.4 trillion debt ceiling before Treasury ran out of cash. She indicated that the government may be unable to pay all of its bills possibly as soon as June 1. Yellen is coordinating with the White House at a senior level, with several meetings between the department and the White House happening weekly, according to administration officials. If Congress cannot reach an agreement on the ceiling, economists warn of dire consequences, including default.
US Market Closings:
Canada Market Closings:
Brazil Market Closing:
The oil markets had a mixed day today:
The above data was collected around 12:10 EST on Tuesday
The above data was collected around 12:22 EST Tuesday.
Japan 0.415% (+2.8bp), US 2’s 4.37% (+0.047%), US 10’s 3.7187% (-0.03bps); US 30’s 3.97% (-0.0001%), Bunds 2.46% (+0.9bp), France 3.039% (+0.2bp), Italy 4.318% (+0.6bp), Turkey 8.87% (+6bp), Greece 3.906% (+0.5bp), Portugal 3.262% (+2bp); Spain 3.512% (+0.5bp) and UK Gilts 4.155% (+8.9bp).
The post Market Talk – May 23, 2023 first appeared on Armstrong Economics.