PREVIOUS TRADING DAY EVENTS 19 May 2023

Announcements  

The G7 meetings are in the global media spotlight this week. Finance ministers and central bankers from 7 industrialised nations Canada, Italy, France, Germany, Japan, the U.K. and the U.S. gather together in Japan and special talks take place with reporters throughout the day. A formal statement covering policy shifts and meeting objectives is usually released after the meetings have concluded. Important subjects include bank failures and debt restructuring as the U.S. debt default is growing. 

Meetings take place from Thursday through Saturday. Concerns to discuss involve the collapse of Silicon Valley Bank and Credit Suisses takeover, the First Republic Banks failure, how to strengthen the global financial system and help banks avoid situations similar to the SVBs collapse, the U.S. debt default crisis, and climate, energy and environmental issues. In addition, discussions for extra measures to support Ukraine or punish Russia. Various sanctions had been in effect so far. Further concerns include world inflation, which remains fairly sticky, and the risks involved around the use of crypto assets. 

Source

httpswww.bloomberg.comnewsarticles20230509g7financeleaderssettograpplewithbankrisksdebtimpasse

The debt deal is still not concluded yet and the whole world is watching as the U.S. stalls growing fears of a U.S. debt default. The House Speaker and Republican Kevin McCarthy accused the White House of…