US: Senate Makes Slow Progress In Vote-A-Rama

German insolvencies reached a multi-decade high of 1,776 in April, 3% higher than in March and 10% higher than in April 2025 according to the IWH institute's insolvency trend. 

• Compared to an average April between 2016 and 2019, April figures are 82% higher. "This means that the number of insolvent partnerships and corporations in April was the highest it has been since June 2005, when 1,859 insolvencies were recorded [...] No relief is in sight for the coming months."
• Recall that German Q1 GDP growth was slightly above expectations last week at 0.3% Q/Q (0.1 cons) albeit with a small downward revision for Q4 (to 0.2%, revised from 0.3%). On a Y/Y basis, GDP rose 0.3% (0.2% cons; 0.4% Q4). Destatis noted a quarterly acceleration in both household and government final consumption expenditure, whilst exports were also up based on provisional results.
• Industrial sector data for March is scheduled for later this week, with factory orders on Thursday expected to print 1.0% M/M (0.9% March) and Friday's industrial production seen at 0.4% M/M (-0.3% March).

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