Chinese M2 Money Supply YoY (Apr) Y/Y 8.6% vs. Exp. 8.5% (Prev. 8.5%)
The Chinese M2 Money Supply for April came in at 8.6%, slightly above expectations of 8.5% and matching the previous month's growth.
US Pentagon has not signed new contracts to replenish its munitions supplies, NBC reports
US President Trump's proposals are reportedly facing opposition in Congress, Semafor reports; these include a gas tax holiday and federal funding for a new ballroom in the White House
Chinese M2 Money Supply YoY (Apr) Y/Y 8.6% vs. Exp. 8.5% (Prev. 8.5%)
BofA Institute Total Card Spending (w/e May 2) +7.1% (vs +2.7% Y/Y, +4.8% Y/Y during April); Ex-gas spending +5.8% Y/Y; BofA suggests Mothers' Day could've impacted spending
US Senate Banking Committee holds markup of crypto bill today, Fox's Pergram reports
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This positive surprise suggests continued liquidity support in the economy, which may influence growth outlooks and signal potential implications for monetary policy moving forward.
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