Chinese Outstanding Loan Growth YoY (Apr) Y/Y 5.6% vs. Exp. 5.8% (Prev. 5.7%)
The Chinese outstanding loan growth for April came in at 5.6%, slightly missing expectations of 5.8% and down from the previous 5.7%.
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 Outstanding Loan Growth YoY (Apr) Y/Y 5.6% vs. Exp. 5.8% (Prev. 5.7%)
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 miss suggests a potential slowdown in credit demand, which could have implications for economic growth and may weigh on sentiment related to Chinese assets in both domestic and global markets.
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