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Macroeconomics,Yieldcurve,Inflation

United States: May-laise Markets digested a light lineup of economic data on the holiday-shortened week.

Summary United States:May-laise Markets digested a light lineup of economic data on the holiday-shortened week. The second look at first quarter GDP revealed an economy increasingly pressured by high interest rates as headline growth was revised lower. To that end, the April Personal Income and Spending report suggested consumers may be taking their foot off the gas as they round into Q2.

But the composition of the legislative coalition will determine the direction of policy as well as the direction of local financial markets. Also, May sentiment data in China were underwhelming, suggesting China's economy is still under pressure.

 

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