The International Monetary Fund (IMF) raised its forecast for China’s growth this year to 5%, up from 4.6%, citing strong first-quarter performance and recent policy measures.
Two weeks ago, Chinese authorities introduced extensive measures to support the real estate sector, such as removing the floor on mortgage rates. While these steps are “welcome,” more comprehensive actions are necessary, stated Gita Gopinath, the IMF’s first deputy managing director.
MicroStrategy Has Risen Almost 1,100% Since its 2020 Bitcoin Pivot.
Canaccord reports that MicroStrategy’s stock has risen by almost 1,100% since it shifted to Bitcoin as its primary treasury asset in August 2020.
This transformation included milestones like adopting fair value accounting for Bitcoin and the approval of U.S. spot Bitcoin ETFs, affirming MicroStrategy’s strategy.
MicroStrategy’s success as proof of Bitcoin’s potential to enhance shareholder value in mature companies during times of high inflation and stock valuation pressures.
ECB´s Monetary Policy to Ease Gradually as Markets Brace for June Rate Cut.
ECB’s council member Klaas Knot suggests gradual easing of monetary policy in the region to manage inflation while emphasizing the need for caution.
ECB policymakers strongly hint at an imminent rate cut in June, fully anticipated by money markets and economists. However, uncertainty lingers due to persistent services inflation in the eurozone and global uncertainties.
Euro zone inflation data for May will be released Friday, ahead of the ECB’s upcoming monetary policy decision and projections on June 6.
One can predict the course of a comet more easily than one can predict the course of Citigroup’s stock.
JIM SIMONS
