LATAM: Argentina's Milei To meet Zuckerberg, Uruguay CB Chairman Speaks
May-30 14:00
- Argentina: President Javier Milei is scheduled to meet with Meta CEO Mark Zuckerberg as the South American leader continues his week-long tour of the San Francisco area.
- Uruguay Central Bank Chairman Diego Labat is scheduled to speak at a sustainability forum in Montevideo. May PPI data is scheduled for 1800GMT/1300ET.
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US DATA: MNI Chicago Survey™: Participants Concerned About Geopolitical Conflicts
Apr-30 13:51
The Chicago SurveyTM also asked firms “Looking ahead which of the following potential disruptions are you most concerned about?”
- Respondents were most concerned about ‘Geopolitical conflicts’, with 36% reporting it as the most concerning, followed by around a fifth of respondents each expressing ‘Cyber attacks’ and ‘Supply Shortages’.
- This is closely followed by 16% reporting ‘Government Regulations’, and 10% reporting ‘Public health crises’.
US DATA: MNI Chicago Survey™: Over 40% Feel More Able to Pass On Input Costs
Apr-30 13:49
In April, the Chicago SurveyTM asked firms “Over the past three months, how has your ability to pass on input costs changed?[1]”
- 42% of respondents reported either a ‘somewhat greater ability’ or a ‘Greater ability’ to pass on costs.
- 36% reported “No change” in their ability to pass on costs with comments stating price increases already happened last year.
- Finally, 23% reported either ‘Somewhat less able to’ or ‘Less able to’ pass on input costs with comments noting that there have been increases in purchasers’ price sensitivity.
[1] Input costs are the expenses incurred in order to create a product e.g. transportation cost of raw materials, higher commodity prices, higher labor costs etc
US TSYS: Post-Chicago PMI React
Apr-30 13:48
- Treasury futures holding lower levels after much lower than expected MNI Chicago PMI comes out at 37.9 vs 45.0 est (41.4 prior).
- Little to no reaction to the contractionary data, Jun'24 10Y trades 107-19 (-11.5), above initial technical resistance of 107-04 (Low Apr 25). 10Y yield tap 4.6695% high.
