The Monday Mix: July 11 – 17, 2022

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US consumer inflation was up 9.1% annualized in June, the highest yearly rise since 1981, with nearly half of this due to higher energy costs.

US retail spending rebounded in June, increasing 1%; this amount is not adjusted for inflation but indicates consumers keeping up with rising prices.

The US dollar achieved parity with the euro, the first time since 2002, on fears that Europe’s dependency on Russian natural gas will force region into recession.

China’s economy grew just 0.4% in the 2nd quarter of 2022 vs. 4.8% in the 1st quarter, as Covid lockdowns took a toll on consumer spending and production.

The European Central Bank said 41 major banks it stress-tested are exposed to 70 billion euro in losses due to climate risk.

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