In the World

China tecnologia

AI drives China’s trade surplus to $105.43 billion annually in May

Report by Renta 4 Flat opening on European markets (Eurostoxx futures down 0.1%, S&P futures up 0.2%, Nasdaq futures up 0.3%) and a strong rebound in Asia (Japan’s Nikkei 2%, South Korea’s Kospi 8%) Yesterday, once again, and following the overnight escalation in the Middle East conflict, with crossfire between Israel and Iran and Hezbollah’s admission of having taken part in the attack on Israel (whilst banning Israeli shipping in…


OPEC post mortem

OPEC agrees to increase production by 188,000 barrels per day in July

Report by Bankinter This marks the fourth consecutive monthly increase: in April and May, production rose by 206,000 bpd each month, and in June by 188,000 bpd. Bankinter analysis team’s view: the impact of the news is moderate, in a context where supply has fallen sharply. As a reference, in April OPEC+ production stood at 33.2 million barrels per day (Mbd), representing a reduction of almost 10 Mbd compared to…


No Picture

Deregulating in a Financial Boom: What Could Go Wrong?

Continue reading: I expect to see further weakening as well. A push to lower liquidity requirements appears likely. And I have spoken recently about my concerns with proposals that would degrade requirements that banks hold sufficient portfolios of high-quality liquid assets relative to their projected needs in stress. We know that liquidity is essential to reduce the risk and severity of bank runs, and I fear that such a reduction…


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Geopolitical instability and technological transformation boosting tangible assets

The shifting global geopolitical and economic landscape, coupled with doubts about the sustainability of public finances, is making real assets—which governments cannot simply print—increasingly attractive. By Géraldine Sundstrom Investors must be realistic. We live in a world marked by uncertainty, multipolar rivalries, geopolitical instability, and technological transformations and advances. Disruptions to supply chains are mounting, with trade frictions in an economy fragmenting into rival blocs. This is a global transformation…


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Rising energy prices (13.2%) push OECD inflation to 4.4% in April

Reported by the Editorial Team Year-on-year inflation in the OECD rose to 4.4% in April, up from 4% in March, driven by rising energy prices. Energy inflation continued to soar in April, reaching 13.2%, an increase of 5.1 percentage points compared with March. Food inflation in the OECD also rose, by 0.4 percentage points to 4%, whilst core inflation (excluding food and energy) remained virtually stable at 3.6%. Headline inflation…


coronavirus susto

The viruses that live among us

By Julia Pastor Whilst we were preoccupied with the evacuation of passengers and crew from a Dutch cruise ship due to an outbreak of a pathogen known as hantavirus, a new Ebola epidemic was confirmed in the Ituri region of the Democratic Republic of the Congo. We learnt that hantavirus is transmitted by rodents, that it can be fatal, but does not have pandemic potential. Ebola, however, is an old…


kevin warsh fed

A questionable image for Federal Reserve Chair Warsh

By Deborah Cunningham The ability of the new Chair, Kevin Warsh, to lead the Federal Reserve will depend on the market believing that he is not beholden to President Trump. Being sworn in at a ceremony held at the White House has not done him any favours. It was the first time since President Reagan swore in Alan Greenspan that the ceremony took place there rather than at the central…


club trillion

‘The Trillion-Dollar Club’: there are now 15 companies with market capitalisation exceeding one trillion dollars

A new all-time high for Micron and a 10% rally in SK Hynix have expanded the select list of the ‘Trillion-Dollar Club’ to 15 companies, a third of which belong to the semiconductor sector. Report by Morgan Stanley Following the new all-time high reached on Tuesday by Micron, the company has joined for the first time the exclusive group of firms with a market capitalisation exceeding $1 trillion – a…


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Three months since start of Iran war: Global GDP set to grow 3.1% in 2026, Eurozone and Asian economies to bear brunt of adjustment

This Thursday marks three months since the start of the Iran war, whilst peace negotiations continue – negotiations that do not appear to be bearing fruit. Meanwhile, the energy crisis continues to take its toll on the global economy. In fact, Scope Ratings forecasts that “the price of oil will average around $100 per barrel in 2026 and that, from then on, it will fall only gradually, remaining in 2027…


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The spectre of “stagflation”: high energy prices, high interest rates and weak growth

Report by Pablo Duarte The market is faced with a robust US economy and a weak eurozone: inflation is rebounding, driven by energy prices, whilst geopolitical risks are mounting. At the same time, expectations regarding interest rates are increasingly diverging, and global growth forecasts have been revised downwards. The global economy is reeling, energy costs remain sky-high, the war in Iran is driving up transport costs and fuelling serious fears…