🚨US April PMI Final at 50.8 vs estimate of 51.4. Trending lower close to the 50 mark, but still above it (above 50 is expansionary, under 50 contraction). China's Manufactuing PMI went down from 50.5 to 49 in April. US ISM Services PMI Prices Paid soars to 65.1, highest since 2023.
India offers zero-for-zero tariffs on auto parts, steel, and pharmaceuticals up to a certain quantity of imports from US. -sources
Trump administration says it will pay immigrants in the United States illegally $1,000 to go home - AP
🚨US Treasury Sec Bessent: US will solidify position as home of global capital. US market are anti-fragile, over a long-term horizon it's never a bad time to invest in America.
Bessent: Trump's tariffs, tax cuts and deregulation agendas are interlocking parts to drive long-term investment to US economy
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Citi CEO: most companies are a bit in limbo land, there's a wait-and-see going on. Most can absorb 10% tariffs.
Bessent: 100% expensing for equipment, factories, along with tax certainty and lower energy costs, will accelerate U.S. economic growth
Bessent: I am highly confident that 17 trading partners excluding China have presented very good trade proposals
Bessent: Fed's favorite inflation measure is down, market isn't pricing in inflation