The Monday Mix: July 26 – Aug. 1, 2021
Headlines discussed at LNWM’s Monday morning briefing:
— The US economy grew 6.5% in 2nd quarter 2021 vs. 2nd quarter 2020; expectations were for 8.4% growth.
— A key inflation indicator used by the Fed rose 3.5% in June (vs. June 2020), the biggest monthly jump since 1991 but in line with expectations.
— US consumer spending rebounded 1% in June as consumers spent more on services amid easing Covid restrictions.
— Leading global banks pledged to provide loan support for infrastructure projects due to massive shortfall in government funding.
— Chinese tech shares traded in foreign exchanges have lost $1 trillion in value since Feb., due to China’s crackdown on its tech companies.
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