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Various EU inflation data above ECB target level


5/31/2021 10:18:36 AM GMT
Notes/Observations
- CPI reading from Spain and Germany saw the YoY above ECB target level.
- Various German States saw their May inflation data registered its biggest increase since fall 2018 mainly due to the base effect from higher energy prices.
- China PBoC takes action to curb recent CNY currency strength.
- US and UK markets closed for holidays.
Asia:
- China May Manufacturing PMI (Govt Official) registered its 14th month of expansion (51.0 v 51.1e).
- China PBOC sets the Yuan reference rate at 6.3682 for its strongest fixing since mid-May 2018).
- Former China PBOC official Sheng Songcheng said fast yuan appreciation probably will not last, suggests the Yuan is overbought ; says the rise in CNY suggests short-term speculation. ....

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Chart: The Most Profitable Companies in the World


Chart: The Most Profitable Companies in the World
Tech companies Apple and Microsoft, which benefited majorly from people working and socialising online, shot to the top of the ranking.
An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. Photo: Reuters/Mike Segar/File Photo/File Photo
World8 hours ago
According to the Forbes Global 2000 published Friday, the coronavirus pandemic has shaken up the list of the most profitable (public) companies in the world. Tech companies Apple and Microsoft, which benefited majorly from people working and socialising online, shot to the top of the ranking, while banking and investment profits remained more stable. Google parent company Alphabet grew its profits to $40.3 billion up from $34.3 billion, up more than 17 percent. ....

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