Japan April Tokyo CPI Jumps to Around 2% as Mobile Phone Charge Discount Base Effects Ease Off 
–BOJ Board Sees CPI Jump in FY22 as Temporary; FY23 CPI to Slip Back to 1% –Utilities, Food Prices Lead Inflation; Impact of Energy Market Spike Seen Fading Next Year –Energy Prices Post 1st Slowing in Current Y/Y Rise Phase; Govt Subsidies Capping Gasoline Markups By Max Sato (MaceNews) – The year-on-year rise in consumer […]
Italy Draghi’s Meeting with US President Biden Set To Bolster Common Anti-Russia Transatlantic Energy Strategy – Italian Coalition Sources
By Silvia Marchetti ROME (MaceNews) – Italian Prime Minister Mario Draghi’s upcoming trip to the US will seek to bolster the anti-Russia transatlantic energy strategy as Italy takes on a leadership role in Europe in moving toward “gradual” independence from Russian oil and gas, said ruling coalition sources. On May 10 Draghi will meet with […]
US ISM Manufacturing Growth Slows in April on China Lockdowns, High Prices
–ISM: Manufacturing Sector at Pause as Buyers Wait for Prices to Come Down –ISM: Supply Constraints Not Getting Worse; ‘Very Concerned’ Over China Port Situation –ISM: No Indication of Softening Demand in US Despite Q1 GDP Contraction By Max Sato (MaceNews) – US manufacturing activity growth slowed in April, hit by labor shortages, high prices […]
FOMC Seems Sure to Go 50 Basis Points on May 4, but After That Rate Path Uncertain
By Steven K. Beckner (MaceNews) – It now seems all but guaranteed that the Federal Reserve will raise short-term interest rates for a second straight Federal Open Market Committee meeting in early May, but it is less certain what the Fed will do thereafter. With a 50 basis point hike in the federal funds rate on May 4 considered a foregone conclusion, the real […]
Japan March CPI Rise Accelerates on Energy, Food; Subsidies Cap Gasoline Prices 
–Both Core and Total CPI Measures Mark 7th Straight Y/Y Gains –Utilities Continue Pushing Up Energy; Durable Goods Price Drop Eases –Most of Base Effects of Sharp Mobile Phone Fee Discounts To Fade in April –Fiscal 2021 Total, Core Inch Up, Core-Core (Ex-Fresh Food, Energy) Posts 1st Drop in 9 Years By Max Sato (MaceNews) […]
Japan March, Fiscal 2021 Exports Hit Record Highs, Imports Surge at Faster Pace
–Imports Also at Record High on Energy, Leading to 8th Straight Trade Deficit –Exports to China Slower in March, Volumes Down on Year –Auto Exports Slip in March After February Rebound Amid Supply Bottlenecks By Max Sato (MaceNews) – Japanese exports hit a record high in March, marking the 13th straight year-on-year increase, on reopening […]
BofA Global Research Fund Manager Survey: Global Recession Top Tail Risk in April
By Vicki Schmelzer NEW YORK (MaceNews) – Global recession became the top “tail risk” for world investors in April, according to BofA Global Research’s monthly fund manager survey, released Tuesday. Recession concerns overshadowed other fears including “hawkish central banks” and “Russia-Ukraine conflict” and clouded the investment outlook, the survey said. In April, a net 71% […]
Japan March Producer Prices Up 9.5% Vs. 9.7% in February, Crude Oil Cost Rise Moderates 
–Japan Producer Prices +0.8% M/M, Led by Electric Power, Chemicals –Japan Producer Prices Rebound 7.3% in Fiscal 2021 After 1.4% Drop By Max Sato (MaceNews) – Producer inflation moderated slightly in March but remained high above 9%, close to a 41-year high, as global supply bottlenecks and high energy costs continued amid uncertainty over the […]
Italy Raises Pressure on EU To Cap Gas Import Prices, Ready to Adopt National Measures If EU Deal Is Delayed – Sources
By Silvia Marchetti ROME (MaceNews) – Rome’s government is raising pressure on European Union institutions to place a EU-wide cap on imported gas prices to shield families and business from an extraordinary spike in energy bills that is weakening the bloc’s economy, according to ruling coalition sources. The proposal faces opposition from Germany and Holland. […]
ISM: US March Service Sector Activity Picks Up on Easing Covid Rules But Headwinds Remain 
–ISM: US Service Providers Continue Facing Surging Costs, Supply Bottlenecks –ISM’s Nieves: Fed Has to Tighten To Keep Inflation From Hurting Economy –ISM: Supply Delivery Delays Ease in March; Inventories Up but Still Too Low –ISM: War in Ukraine Pushing Up Prices, Creating Uncertainty for Many Firms By Max Sato (MaceNews) – US service sector […]