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📰 Conscious Capital Insights for 05/22/2020
We are a California-based registered investment advisor and thought leader, updating you on this week’s top investment news, research and market performance.
Sino-U.S. tensions rise, adding risks to a recovering stock market. (Bloomberg)
Markets closed markedly higher for the week of May 22, 2020, but new risks are emerging as the relationship between the United States and China sours. “Markets are under-appreciating the likely scope and extent of U.S.-China tension," said Rupert Harrison, a multi-asset strategies portfolio manager at BlackRock.
Real unemployment in China estimated to be at 18-20%. (South China Morning Post)
Although official government numbers place unemployment at about 6%, it is estimated that as many as 205 million Chinese workers cannot find jobs or are unable to return to their previous posts. Debate over China’s statistics reporting amid the coronavirus heats up, as deaths from the disease and unemployment numbers appear significantly understated.
GDP models forecast a 41.9% drop for Q2 2020. (Atlanta Fed)
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2020 is -41.9 percent May 19, up from -42.8 percent on May 15. After this morning's new residential construction report from the U.S. Census Bureau, the nowcast of second-quarter real gross private domestic investment growth increased from -69.4 percent to -66.0 percent.
Weekly Price Performance Heatmap (Finviz)
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