TurimAugust 10 2021

Turim MFO’s July Economic Report

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Written by Turim MFO

Turim MFO’s monthly Economic Report is now available. Main highlights of the month include:

  • US: GDP overtakes pre-Covid level in the second quarter
  • US: Inflation continues to surprise but is still concentrated on a few items
  • China: Turnaround in the credit tightening cycle?
  • Inflation: 2021 brings a sequence of shocks, with impact on projections
  • Fiscal: Payment orders imposed on government threatens spending cap in 2022
  • Interest rates: Sharp drop in interest rates despite strong economic data
  • Shares: Regulatory tightening in China has strong impact on the local stock market
  • Interest rates: Long-term yield curve returns to levels seen at the height of the Covid-19 crisis

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