Categories Finance

The Capital Spectator | Investing, Asset Allocation, and Economic Insights

  • 2026年6月25日
  • Estimated read time 10 min read
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        <p>* The <a href="https://www.cbsnews.com/news/debt-ceiling-meeting-today-joe-biden-kevin-mccarthy-white-house/">debt ceiling meeting</a> led by Biden and McCarthy has been termed ‘productive’, yet no agreement has been reached.<br/>* Treasury Secretary Yellen has reiterated a warning that the U.S. may exhaust its funds as soon as June 1, according to <a href="https://thehill.com/homenews/administration/4015863-debt-ceiling-yellen-says-treasury-to-run-out-of-funds-by-early-june-and-possibly-june-1/">recent statements</a>.<br/>* Following the resolution of the debt ceiling, the Treasury is anticipated to <a href="https://markets.businessinsider.com/news/bonds/treasury-general-account-tbills-liquidity-debt-limit-ceiling-us-default-2023-5">issue</a> up to $700 billion in Treasury bills.<br/>* A pause in interest rate hikes this June, as mentioned by Fed’s Kashkari, <a href="https://www.cnbc.com/2023/05/22/feds-kashkari-says-june-rate-pause-wouldnt-show-end-to-hiking-cycle.html">should not be interpreted</a> as the conclusion of the hiking cycle.<br/>* Fed’s Bullard <a href="https://finance.yahoo.com/news/feds-bullard-calls-for-two-more-rate-hikes-in-2023-173320962.html">advocates</a> for two additional rate hikes this year.<br/>* The number of Americans <a href="https://finance.yahoo.com/news/more-americans-are-feeling-lousy-about-their-finances-fed-study-finds-143121337.html">expressing dissatisfaction</a> with their financial situations has reached a nine-year high.<br/>* CLSA Ltd <a href="https://www.bloomberg.com/news/videos/2023-05-23/japan-economy-to-growth-faster-than-us-and-europe-clsa-video">forecasts</a> that Japan’s economic growth will surpass that of the U.S. and Europe in the next two years.<br/>* Australia is striving to reduce its dependency on China for lithium exports, as detailed in this <a href="https://www.nytimes.com/2023/05/23/business/australia-lithium-refining.html">article</a>.<br/>* A decline in manufacturing activity has brought Eurozone economic growth down to a <a href="https://www.pmi.spglobal.com/Public/Home/PressRelease/be7af66837044599909ada08e24783b8">three-month low in May</a>.</p>

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In the trading week ending Friday, May 19, U.S. shares spearheaded a rally across global equity markets, as per a review of various ETFs. Conversely, most other major asset classes saw declines.

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        <p>* Biden and McCarthy are scheduled to <a href="https://www.npr.org/2023/05/22/1177437014/biden-and-mccarthy-gear-up-for-the-next-round-of-debt-ceiling-talks">meet again today</a> to continue discussions on the debt ceiling.<br/>* Goldman Sachs <a href="https://www.businessinsider.com/us-debt-ceiling-default-x-date-goldman-sachs-yellen-2023-5">projects</a> that the 'X-date' for the debt ceiling could be around June 8-9.<br/>* A recent <a href="https://www.yahoo.com/news/survey-economists-inflation-stay-high-223117309.html">NABE survey</a> indicates that economists expect inflation to remain elevated throughout the year.<br/>* Ukraine <a href="https://www.npr.org/2023/05/21/1177394656/ukraine-zelenskyy-russia-g7-f16">has secured</a> additional military aid, including F-16 fighter jets, during the G-7 summit.<br/>* Biden anticipates an upcoming ‘thaw’ in U.S.-China relations, as mentioned <a href="https://www.ft.com/content/251f5e02-e375-44ed-af72-2eeae375b0cd">recently</a>.<br/>* China has deemed Micron, a chip manufacturer, a national security risk, as reported <a href="https://www.bbc.com/news/business-65667746">by BBC</a>.<br/>* Greece’s center-right prime minister has been <a href="https://www.bbc.com/news/world-europe-65666261">re-elected</a>, but without a majority.<br/>* Meta faced a <a href="https://www.cnn.com/2023/05/22/tech/meta-facebook-data-privacy-eu-fine/index.html">$1.3 billion fine</a> from the EU for violations regarding personal data.<br/>* The yield on the U.S. 10-year Treasury has risen to a two-month high.</p>

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        <p><a href="https://www.amazon.com/Yellow-Pad-Making-Decisions-Uncertain/dp/0593491394?_encoding=UTF8&amp;qid=1684247220&amp;sr=1-1&amp;linkCode=li2&amp;tag=thecapitalspe-20&amp;linkId=5b58b92d36012f3907e010e3a8168756&amp;language=en_US&amp;ref_=as_li_ss_il" target="_blank" rel="noopener"><img decoding="async" class="alignleft" src="https://ws-na.amazon-adsystem.com/widgets/q?_encoding=UTF8&amp;ASIN=0593491394&amp;Format=_SL160_&amp;ID=AsinImage&amp;MarketPlace=US&amp;ServiceVersion=20070822&amp;WS=1&amp;tag=thecapitalspe-20&amp;language=en_US" border="0"/></a><img decoding="async" style="border: none !important; margin: 0px !important;" src="https://ir-na.amazon-adsystem.com/e/ir?t=thecapitalspe-20&amp;language=en_US&amp;l=li2&amp;o=1&amp;a=0593491394" alt="" width="1" height="1" border="0"/>● <a href="https://amzn.to/3ID0d8H">The Yellow Pad: Making Better Decisions in an Uncertain World</a><br/>Robert E. Rubin<br/><strong><a href="https://www.wsj.com/articles/robert-rubin-warns-that-the-u-s-is-failing-to-face-its-problems-16c7dcdb">Review</a> via The Wall Street Journal</strong><br/>In these uniquely uncertain times, former Treasury Secretary Robert Rubin highlights various challenges facing the U.S.; from tensions with China and Russia to the pursuit of nuclear capabilities by Iran and rising economic inequities, alongside the looming existential threat of climate change. He characterizes American politics as “one of the most dysfunctional environments” he has ever witnessed.<br/>Concern grows as Mr. Rubin, now 84, reflects on society's declining capacity to make informed decisions.</p>

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