china first-quarter GDP topped Reuters poll expectations for a 5.1% growth year on year, building on a recovery that began in late 2024, thanks to a broad policy stimulus push.
▶️Retail sales in March rose by 5.9% year on year, sharply beating analysts’ estimates for a 4.2% growth. Industrial output expanded by 7.7% from a year earlier, versus median estimates of 5.8%. ▶️The urban unemployment rate slipped to 5.2% in March, following a two-year high of 5.4% in February. Source: CNBC
Here’s how Wall Street’s year end 2025 targets for the S&P 500 have changed
Source: Blossom @meetblossomapp, Yahoo Finance
Yesterday, hermes $RMS' market cap surpassed $LVMH's for the first time ever. $279B.
Source: Quartr
China has the largest manufacturing workforce on Earth, by far.
Source: UN, Markets & Mayhem
Types of competitive advantage.
Nice pic by @Invesquotes thru Brian Feroldi
In case you missed it:
30 year Japanese government bond yields have climbed even more sharply than their US counterparts. Since April 2, Japan’s 30y yield has risen 33bps, while the US 30y yield is up 29bps over the same period. Source: (HT @bilalhafeez123), HolgerZ, Bloomberg
What a change in sentiment in less than 2 months...
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In Germany, investor confidence in the economy has taken a sharp hit following US President Trump's erratic trade policy.
The ZEW Institute’s expectations index plunged to -14 in April, down from 51.6 in March – a massive drop. Analysts surveyed by Bloomberg had expected a decline, but only to +10. The unpredictable shifts in US trade policy have fuelled global uncertainty, which is now weighing heavily on economic expectations in Germany. At the same time, any initial optimism about the new government's spending plans has quickly faded. Source: HolgerZ, Bloomberg
