Economic Growth and Consumer Confidence - Global economic growth remains uncertain, with high interest rates impacting households and businesses[11] - Overall consumer confidence has declined due to high consumer prices, with spending slowing down across most regions except Brazil[13][22] - The OECD global consumer confidence index shows a downward trend, indicating reduced consumer sentiment[20] Manufacturing and Services Sector - Manufacturing experienced its first contraction in 2024, while the services sector continues to show stable growth[14] - Manufacturing growth in China and the US has stagnated, with the Eurozone still in contraction[34] - The services sector remains a bright spot in the global economy, driven by industrial production growth and capital market improvements[45] Trade and Supply Chain - Global trade volume increased by 0.7% in June, primarily driven by growth in developed economies[50] - The global supply chain market is normalizing, with the pressure index reaching historical averages in July[51] - Total port trade in June 2024 decreased compared to June 2023, mainly due to reduced activity in Asian economies[69] Employment and Inflation - Unemployment rates in the US and China continued to rise in July, while Brazil's unemployment rate showed a declining trend[73] - Inflation in developed economies is easing, with the Eurozone facing deflationary pressures[77] - Consumer inflation in developing economies remained stable in July, with only Russia experiencing an acceleration[84] Commodity Prices and Market Trends - Most commodity prices continued to decline in August but remain significantly higher than pre-pandemic levels[89] - Gold prices reached a historical high of $2,439 per ounce in August[93] - Stock markets faced challenges in August, with most exchanges reporting losses[123]

Economic Growth - China's economic growth is slowing down [1] International Trade - Trade turmoil is weighing on the Chinese economy [1]

International Relations & Geopolitics - President Trump is teaming up with NATO allies to increase pressure on Vladimir Putin, threatening severe tariffs if a deal isn't reached in 50 days [1] - The U S Senate is considering legislation to impose more economic restrictions on Russia and countries indirectly financing its war efforts [2] - Trump threatens the EU with 30% tariffs but remains open to talks as European trade ministers strategize [3] - NATO will coordinate the distribution of weaponry indirectly received from the U S to Ukraine [5] - The U S is negotiating new trade deals with India and China amidst potential secondary sanctions on countries buying oil from Russia [6][7] - Senator Shaheen states that Vladimir Putin will not negotiate seriously unless he feels more pressure from the Trump administration [16] - Senator Shaheen highlights the importance of implementing and policing sanctions to prevent countries like India and China from buying oil from Russia [18] - Senator Shaheen notes China has moved in where the United States has shut down foreign assistance programs [24] - The U S plans to send a top-tier weapons package to Ukraine, with NATO buying the weapons [54] - The German Defense Minister is in Washington seeking additional Patriot batteries for Ukraine as soon as possible [59] - Evelyn Farkas emphasizes the importance of both military and economic pressure on Putin, noting sanctions are crucial [62][63] - Rear Admiral Mark Montgomery notes Ukraine is fighting Russia, North Korea, Iran, and China, with Russia hiring artillery from North Korea [64][65] - Evelyn Farkas states that stopping Putin in Ukraine is the best way to prevent a war with Russia [79] Trade & Tariffs - The market is starting to look through President Trump's comments on tariffs, anticipating that the follow-through will be less severe than initially stated [33][34] - PIMCO suggests the equity market is sanguine about tariffs, while the fixed income market is pricing in slower growth partly due to tariffs [39][40] - The effective average tariff rate on U S imports has risen from 3% at the start of the year to around 14%, potentially exceeding 20% [40][41] - PIMCO anticipates the economy will slow and inflation could pick up due to tariffs [42] - PIMCO notes tariffs are a tax that will ultimately be paid by exporters, corporate importers, and/or consumers [44][45] - The U S is imposing a 17% tariff on tomatoes from Mexico [43] Monetary Policy & Federal Reserve - PIMCO expects President Trump to pressure Fed Chair Powell for lower rates but does not anticipate Powell's firing [47][48] - PIMCO believes Trump will have opportunities to reshape the Fed in the near future [48][49] Cryptocurrency - Bitcoin is touching another record high as the House kicks off Crypto Week [4] - PIMCO welcomes regulatory clarity for digital assets but does not expect the Clarity Act to pass quickly in the Senate [51][52] US Domestic Policy - The Supreme Court allows the Trump administration to resume its purge of the Department of Education [80][82] - The House is facing a deadline to pass a $94 billion package in cuts to funding for PBS, NPR, and USAID [88]

Anthony Albanese is walking a fine line between Australia's defense relationship with the US and its biggest trade partner China. Read today's Australia Briefing by @argana_carmeli for the best of Bloomberg from Down Under and around the world. https://t.co/RyqzA047Db ...

US-Ukraine Relations & Geopolitics - The US is sending more weapons to Ukraine via NATO, with NATO distributing and paying for them [2] - President Trump is delaying possible sanctions against Russia for 50 days [1][3][9] - The US may impose 100% secondary tariffs on countries helping Russia if no deal is reached within 50 days [2][9] - North Korea is supplying as much as 40% of Russia's ammunition, including 6 million rounds of artillery [35][36][38] - Iran has built a drone factory in Russia, supplying Shaheed drones that are impacting Ukrainian infrastructure [36][41] - China is backstopping the Russian economy by increasing imports and exports, and providing microelectronics for Russian missiles [37] Financial Markets & Trade - The S&P is pushing higher by 0.1%, the Dow is up by 0.1% (24 points), and Nasdaq is up by about 0.3% [6] - Bitcoin is showing a gain of 1%, closing in on $122,000 earlier in the session [6][47] - Autodesk is no longer pursuing an acquisition of PTC, with Autodesk shares up by 5.6% and PTC lower by 1.7% [7] - Tariffs of 30% are threatened against Mexico and Canada, effective August 1 [8] - The EU is threatened with a 30% tariff, which the EU trade chief said would prohibit trade between the US and the EU [87] US Domestic Policy & Politics - Congress is gearing up to vote on three separate pieces of legislation pertaining to the crypto industry, including the GENIUS Act and the Clarity Act [46] - A rescissions package to claw back $9.5 billion is expiring on July 18 [61] - The White House is scrutinizing the Federal Reserve's headquarters renovations, calling for an audit against the backdrop of complaints about Fed Chair Jerome Powell's approach to interest rates [74]

The busiest trade hub in the US saw container traffic rebound last month after a slump in May, as importers grapple with volatility driven by President Donald Trump’s trade war https://t.co/Ou2QvcrXF8 ...

- We have tariffs pouring in at levels that we have never seen before, and they've only just started. That's really a small portion. It's mostly from cars and aluminum and steel, a little bit of lumber, but they'll really start in about another week.And then in about a month, they'll come in at levels that are extremely strong. And our country's making a lot of money. And our country made $25 billion last month. 25 billion.That hasn't done that in a long time. And a lot of that's done because of good manage ...

this really stands. Where are we. We are right in the thick of it, Andrew.Good morning, guys. So, two new warning shots fired to those two trading partners this weekend. The president vowing to impose 30% tariffs on all of their exports to the US as soon as August 1st.Now, we did hear Mexico's President Claudia Shinbound and the head of the European Commission, that's Ursula Vanderlayan, both vowed to continue negotiations with the US in the hopes of reaching a deal by early August. But Vanderland also warn ...

Donald Trump’s proposed 30% tariff on European Union goods is “effectively prohibitive” to transatlantic trade and could warrant retaliation, the bloc’s chief negotiator said. https://t.co/3zkejIGguc ...

Macroeconomic & Trade Dynamics - China's Jan-June trade surplus reached CNY 4210 billion [1] - China's trade resisted pressure in the first half of the year [1] - Discussions are ongoing regarding trade tensions with the EU [1] - Potential meeting between Xi Jinping and Trump is anticipated [1] - Price wars in China are considered more dangerous than tariffs [1] Geopolitical Relations - Australia is pursuing 'practical cooperation' with China [1] - The relationship with China is considered 'very important' [1] - Focus on China-Australia ties [1] Economic Outlook - Examination of the global economic outlook [1] - Monitoring of US CPI data [1] Social Trends - 'Anti-Involution' is identified as a new buzzword in China [1]