1.Covid:
As Beijing and Shanghai work & life back to normal, I saw jump starts of economic activities in Beijing today. People are running fast to get the lost business back. Total new covid case no. increased due to new cases in Beijing. But no more lockdown expected due to economic pressure. Also many cities will cancel current free covid-test service and will charge fees due to big cost burden.
2.Monkeypox:
Total monkeypox case no. is still growing.
3.Russia and Ukraine:
Russia continue to push forward in Donbas area of Severodonetsk specifically. US Biden said US will not provide Rocket system which may enable Ukraine to attack Russia homeland. So not sure what kind of Rocket will be provide by US to Ukraine. EU agreed on the sanction against Russia to cut Russia crude purchase by 75%, which is about USD150million per day. Russia haven't announced counter sanction terms to EU yet. EU plan to ban 90% of its current imported Russian oil.
I think it is may be the time for Russia, Ukraine and NATO to carry out the talk to end this war now, given the huge costs to all parties as well as to the world.
4.Food crisis:
After India banned wheat exports, more than 18 other countries also announced food exports restrictions. This will make African and Middle East facing bigger food shortage.
5.Energy crisis:
As EU banned 75% of its Russia crude oil import, Russia will have to sell these oil cheap to somewhere. I suggest China take these oils and pay RMB to support Chinese economy. This will also benefit the whole world.
6.Electricity shortage:
Japan said they may face electricity shortage this summer and run full clock to find solution for this.
7.US economy:
Fed Chairman Powell met Biden in Oval Office today, Biden said he will support Fed to curb the inflation. Market is excepting 50 and 50 bps rate hike in June/July and Sep/Oct. US 10 yr yield moved up today. US house price hit a new high as its Mar price increase 21.2% yoy.
8.China economy:
More fiscal stimulus are announced today and this will boost China economy for sure. China May PMI stood at 48.4 which is higher than 42.7 in April.
9.Climate change:
Scientist found new component in air recently and this maybe due to pollution.
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