New Zealand Morning Focus

Global equities rallied as US retail sales growth slowed to 0.5% in April and UK Q1 GDP grew 0.6%. Significant attention is focused on the leadership transition at the US Federal Reserve as Kevin Warsh takes over from Chair Powell.

Key Takeaways

• 1.Global equity markets continue to rally while bond yields remain relatively stable.
• 2.US consumer activity is showing signs of cooling with April retail sales rising only 0.5% following a much stronger March.
• 3.The Federal Reserve is undergoing a significant leadership change as Kevin Warsh replaces Chair Powell, signaling a potential regime shift in monetary policy.

Table of Contents

• Highlights
• Data and events today
• Financial markets
• Global markets overview
• Key data and events
• Key themes and views
• Market snapshot (07:15 NZ Time)
• Key data releases
• What's ahead today

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial