Activity in the services economy in Australia, the Eurozone, and Japan fell more sharply than expected, according to purchasing managers indexes (PMIs) published last week by S&P Global, while manufacturing activity in key locales continued to be weak.
It’s plain and simple. Across the globe, there are more and more forecasts for rising interest rates and more fears of recession. In this 44 of our job-cut report, the biggest job cuts are from the UBS banksters who are ready to fire some 35,000 Credit Suisse employees following its emergency takeover of the bank.
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.
New data shows China’s post-COVID economic recovery has vanished and is now weakening across a broad range of sectors, leaving it “teetering on the brink of deflation,” CNBC reported.
The Bank of Japan (BoJ) held its key interest rate at -0.1 percent last week, continuing to defy the trend set by most other developed economies to raise rates to combat inflation.
Eurozone banks must repay €476.8 trillion worth of COVID-era loans to the European Central Bank on 28 June.
A modest recovery in the U.K.’s service sector let the nation avoid a recession, at least for now.
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).