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<p>Hong Kong stocks tumble sharply today as China confirmed that it’s going to impose its own national security laws in the city. The new legislations are expected to ban any sedition, secession and subversion of the central government run by the Chinese Communist Party. Most importantly, the method used will bypass the city’s own

<p>Japan slipped back into deflation as data released today show. All item CPI slowed to 0.1% yoy in April, down form 0.4% yoy. CPI core (all-item less fresh food), dropped to -0.2% yoy, down from 0.4% yoy. That’s the first negative core CPI reading since December 2016. CPI core-core (all-item less energy, fresh food) slowed […]

<p>At a unscheduled monetary policy meeting today, BoJ announced to introduce a new Fund-Provisioning Measure to support financing of small and medium-sized businesses. With the new facility, zero-interest loans are offered to financial institutions that boost lending to SMEs by tapping government guarantee programs. It also offers to pay 0.1

<p>RBNZ Governor Adrian Orr said the QE program had been “highly effective” in lowering wholesale interest rates. Given the nation of the coronavirus shocks, the central bank had “plenty of assets to purchase while maintaining our operational independence”.If the program remained effective, “then ongoing large-sc

<p>BoC Governor Stephen Poloz said that “we are in an era where interest rates are probably going to stay low, for demographic reasons and economic growth reasons. I don’t know how low really but they’re just not going to be like where they were 20 years ago or 30 years ago”. He’s also optimistic that […]

<p>Fed Vice Chair Richard Clarida said the US economy is “really in an uncharted situation right now. My own sense is that we’ll begin to get a better sense of the scenario and the trajectory the economy is on in early fall.” He added that Fed’s efforts helped ease financial conditions during the coronavirus pandemic.

<p>Atlanta Fed President Raphael Bostic said reopening of the state has been a “mixed bag. “Some places and some people are feeling like they’re very prepared to jump back into the economy and get back to where they were pre-crisis,” Bostic added. “But there are a lot of businesses where they’re not seeing

<p>New York Fed President John Williams said together that “what we don’t know is what the shape or timescale of the recovery will be”. It’s going “to be some time before we have a clearer view of the effects on other industries, including autos, higher education, manufacturing, and professional services.”

<p>US PMI Manufacturing recovered to 39.8 in May, up from 36.1, PMI Services rose to 36.9, up from 26.7. PMI Composite rose to 36.4, up from 27.0. Chris Williamson, Chief Business Economist at IHS Markit, said: “The severe drop in business activity in May comes on the heels of a record downturn in April, adding […]

<p>US initial jobless claims dropped -249k to 2438k in the week ending May 16. Four-week moving average of initial claims dropped -501k to 3042k. Continuing claims rose 2525k to 25073k in the week ending May 9. Four-week moving average of continuing claims rose 2314k to 22002k. Full release here.</p> <p>The post <a rel="no