As we had long forecast, the higher central banks raise interest rates, the lower the Merger and Acquisition trend... which hit record highs during the COVID war when interest rates sank and governments pumped in countless trillions to artificially prop up sinking economies. Now M&A activity has slowed to a trickle as we have continued to detail.
As we correctly predicted, loans on office properties are increasingly hard to come by as property values and lease rates fall while landlords’ costs rise.
China exported 7.5 percent less in May than a year before and imported 4.5 percent less, the General Administration of Customs said, cutting factory output and adding evidence that the country’s delayed post-COVID rebound has sputtered, which we reported in “China’s Post-COVID Recovery Fizzles” (6 Jun 2023).
Having secured his re-election on 28 May as Turkey’s president, Recep Tayyip Erdogan has appointed a new finance minister who promises “rational” fiscal policies.
After a five-month pause in rate increases, the Bank of Canada (BoC) lifted its key rate on 7 June from 4.50 percent to 4.75 percent, its highest since 2001.
As equity markets rise and the “good news” that inflation is falling, on the employment front, the firing binge continues... as we have continued to detail over the past 43 weeks.
The Eurozone—20 countries that share the euro as their currency—entered a technical recession in this year’s first quarter, with the collective economy shrinking 0.1 percent, according to Eurostat, the European Union’s statistics agency.