Daily commentary-2022.5.27

1.Covid:
Beijing is doing 7 consencutive covid test to seal the potential success of covid zero strategy.
Overall new covid cased no. continue to drop in China.

2.Monkeypox:
Governments are still running to stock up vaccines to prevent outbreak of Monkeypox in large scale. Medicine companies who have vaccines will have boosted revenues.

3.Russia and Ukraine:
Russia claimed a success in Donbas area with Ukrainian troops withdraw from that area. However, it still seems a long term military conflict from current situation.

3.Food crisis:
As natural gas price continues to fly, fertilizer price are still increasing andmake the food crisis worse.

4.Energy crisis:
Russia are exporting crude from mid or small trading companies and this is a way to ease current energy shortage. However, as we are entering into aircondition season, energy price will stay highfor this summer.

5.Climate change:
Some experts said high energy prices are slowing down our progress of meet carbon zero.

6.US economy:
April US consumer spending was up 0.9% mom beat expectation. Stocks move high on back of optimistic spending trend. Average salary was up by 0.4% in April.

7.China economy:
There are rumors that one more Chinese real estate developer-Greenland is facing potential default. This is a sign China economy is still under great pressure now and waiting for more detailed fiscal and monetary stimulus to boost economy.