- Ellipsis AM Monthly Review echoes Nicolas Blanc's comments in the Monthly Review.

Important points to note:

  • The US economy  on course : sustained growth despite the obstacles.  
  • Divergent  outlook in Europe.
  • China :  Economic slowdown after a promising start 

" The economic data published in May extended the positive overall trend that began at the start of the year, while revealing very contrasting situations between business sectors and geographical regions. The renewed cyclical optimism was accompanied by stability in equity indices, masking a sharp divergence between technology mega-caps and traditional stocks, particularly mid-caps, and by a rise in interest rates."

Extract : " Against this overall backdrop, the Fed has hinted that it may pause in its rate hike process, particularly after the mini-banking crisis played a restrictive role in the distribution of credit (SMEs in particular are sensitive to this, with large companies benefiting from a still buoyant credit market)."

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