Chinese Total Social Financing (Apr) 620.0B vs. Exp. 1500B (Prev. 5230B)
The significantly lower figure for China's Total Social Financing in April, reporting at 620 billion compared to the expected 1,500 billion and previous 5,230 billion, suggests a notable contraction in credit 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 Total Social Financing (Apr) 620.0B vs. Exp. 1500B (Prev. 5230B)
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 shortfall raises concerns about the effectiveness of current monetary policies and could imply increased scrutiny on China's economic recovery trajectory, potentially influencing global risk sentiment.
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