29th July 2022

  • US Economy Shrinks for a Second Quarter, Fueling Recession Fears

GDP dropped an annualized 0.9% in April to June period

Consumer spending slowed on decrease in merchandise outlays

https://blinks.bloomberg.com/news/stories/RFQFGGT1UM0W

  • Wall Street Banks Divided Over Size of Fed’s Next Rate Hike

Citigroup, Wells Fargo predict 75 basis-point September move

Goldman, JPMorgan say Fed’s next increase is 50 basis points

https://blinks.bloomberg.com/news/stories/RFQ73ZT0G1KW

  • Fed Reverse Repo Facility Draws Record Usage as Rates Rise

Number of counterparties involved in a single day rose to 111

Number of users eclipsed record that had stood since 2015

https://blinks.bloomberg.com/news/stories/RFQRKRT1UM1C

  • Oil Set for Weekly Gain as Tight Markets Offset Slowdown Fears

Shell CEO Van Beurden says crude more likely to rise than fall

US economy shrank for second quarter amid surging inflation

https://blinks.bloomberg.com/news/stories/RFRK1UT0G1KW

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