- Pakistan, a country with 240 Million people, is struggling under a severe debt burden. It is reported that 74% of the households in the country are not able to cover their basic monthly expenses, an almost 20% jump from last year when this number was 60%.
- Global Markets saw its craziest week post pandemic, it started with Japanese Nikkei tanking over 12% (its worst since 1986) and S&P shedding over 3%, eroding $1.3 trillion investor wealth.
- Bangladesh’s textile Industry came down in tatters with the ousting of their prime minister, Sheikh Hasina, these recent events are leaning the fate of $54 Billion Industry hanging in Jeopardy.
- Wharton School Professor Jeremy Siegel backs off on calls for the Fed to do an emergency interest rate cut.
- Mega events like the Olympics, or even big concerts like Taylor Swift’s Eras tour, led to a rise in European inflation, but UBS is confident that it will not have a lasting impact.
- Multinational groups from Volkswagen to AB InBev and L’Oréal have sounded the alarm about weak demand in China, But , even at current growth rates China still accounts for almost one-third of the world’s annual growth.
