The Monday Mix: June 20 – 26, 2022

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Top-of-mind economic news as we start the week:

— The IMF lowered its forecast for US GDP growth to 2.9% for 2022 and 1.7% for 2023; latest Wall Street Journal survey: 44 % of economists expect a US recession in next 12 months, highest % since 2005.

US consumer sentiment for June was down to 50.0 on a key survey (UMichigan), a record low and a 42% year-over-year drop.

Russia defaulted on roughly $100 million in eurobond debt, not due to insolvency but because it’s locked out of system of int’l payments for invading Ukraine.

The stocks of S&P 500 companies with high domestic sales have done 9% better this year than those with high foreign sales, with strong US dollar key factor.

Most green or environmental funds are not aligned with Paris Agreement goal to limit global warming to less than 2 degrees Celsius, based on Scope 1 and 2 emissions of portfolio companies, per S&P Global Sustainable1.

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