Global Economic Monitor 220427

(Introduction)

[Markets]

•   Global: Wall Street tumbles, as European shares again retreat

※   Nasdaq closes at lowest since late 2020

※   World, European shares give back earlier gains

※   China stocks fall further as Beijing races to battle COVID

※   Dollar hits fresh 2-year peak on China COVID fears, Fed bets

•   US: Tesla Stock Sinks After Twitter Deal

•   Natural gas: European Gas Jumped After Reports Russia Halted Poland Supplies

•   Metals: Copper bounces, but China's COVID lockdowns temper gains

•   Grains: CBOT corn, wheat futures rise on concerns about U.S. crops; soybeans fall

•   한국: 기관 매수에 코스피 3일 만에 상승 마감…2,660대

[Indicators]

•   US Feb. Case–Shiller home price: Home-Price Growth Accelerated in February

•   US Mar. Durable goods orders: March Orders for Long-Lasting Goods Rose on Auto, Computer Demand

•   US Mar. New home sales: Sales of New U.S. Homes Drop to Lowest in Four Months

•   US Apr. Consumer confidence: U.S. Consumer Confidence Eases as Inflation Surges

•   Japan Mar. Employment: Japan's FY 2021 job availability improves for 1st time in 3 yrs

•   한국 1분기 GDP: 1분기 경제성장률 0.7%…소비·투자 감소에 수출로 버텨

※   한국은행: 2022년 1/4분기 실질 국내총생산(속보)

•   한국 4월 소비자동향: 기대인플레 3.1% '9년만에 최고'…집값전망지수 10p 급등

•   한국 5월 BSI전망치(전경련): 기업들 "5월 경영환경도 비관적"…제조업 경기전망 19개월來 최저

[News]

•   WSJ: In Liberated Ukrainian Villages, Fears Grow for Men Taken to Russia

•   WSJ: Russia’s Lavrov Says NATO Is Using Ukraine as a Proxy, Warns Against World War III

•   WSJ: Germany to Send Heavy Weapons to Ukraine Following Allied Pressure

※   Dozens of antiaircraft cannon tanks will be refurbished and sent to the war zone amid a renewed Russian offensive

•   WSJ: India’s Neutrality on Ukraine Rooted in Deep Ties to Russia, Lingering Mistrust of U.S.

•   WSJ: World Bank Projects Elevated Energy, Food Prices, Keeping Upward Pressure on Inflation

※   Global energy costs are expected to jump more than 50% this year, food prices to climb 22.9%

※   World Bank: Food and Energy Price Shocks from Ukraine War Could Last for Years

•   WSJ: Senate Confirms Brainard as Federal Reserve’s Vice Chairwoman

•   WSJ: China’s Xi Pushing to Beat the U.S. in GDP Growth Despite Covid Lockdowns

※   Topping U.S. economy required to demonstrate superiority of China’s one-party system, Chinese leader tells officials

•   WSJ: Beijing Sticks to Strict Covid-19 Measures as China’s Cases Drop to Three-Week Low

•   WSJ: Real Yields Wade Toward Positive Territory, Denting Stocks

•   WSJ: Rates Stampede May Startle Some Investors

•   WSJ: Russia Tried to Sell a Huge Slug of Oil. Nobody Wanted It.

•   WSJ: Google Posts Slowing Sales Growth

•   WSJ: Microsoft Earnings Rose Last Quarter With Demand for Cloud Services

•   WSJ: Elon Musk Bets Twitter Users Will Like a More Freewheeling Platform

•   WSJ: Elon Musk Adds Twitter to His Time-Juggling Challenge

•   WSJ: China Looms Large Over Twitter’s Future Under Elon Musk

•   WSJ: GE Cautions Outlook Pressured by Supply-Chain Disruptions

•   WSJ: GM’s First-Quarter Net Income Down 3%, Reaffirms Year-End Guidance

•   WSJ: Pfizer Asks FDA to Authorize Covid-19 Booster for 5- to 11-Year-Olds

•   NYT: Russia cuts off a major supply of natural gas to Poland, which has offered robust support to Ukraine.

※   Russia’s state gas company has announced the “complete suspension” of natural gas deliveries to Poland through a major pipeline

•   NYT: Why U.S. Oil Companies Aren’t Riding to Europe’s Rescue

•   NYT: Explosions rattle a breakaway region in Moldova, raising fears of a broader war.

•   NYT: More than half of Americans have been infected with the coronavirus at least once, the C.D.C. says.

•   NYT: Hot Job Market, an Economic Relief, Is a Wall Street Worry

•   NYT: Convincing Victory Disguises Steep Challenges for Macron

•   NYT: Macron’s victory halts Europe’s far right, for now

•   FT: ‘At war with the whole world’: why Putin might be planning a long conflict in Ukraine

•   FT: EU weighs cap on price paid for Russian oil as way to hit Kremlin revenues

•   FT: Why cutting Russia’s oil revenues is taking Europe so long

•   FT: UK-EU trade relationships tumble after Brexit

•   FT: Macron faces a complex economic juggling act

•   FT: Cost of living, NHS and economy dominate Northern Ireland election

•   FT: America’s lopsided China strategy: military aid but not enough trade

•   FT: Yen’s tumble stirs debate in Tokyo over merits of weak currency

•   FT: Ukraine war offers Latin America opportunity to boost exports, says IMF

•   FT: EU warns Elon Musk over Twitter moderation plans

•   Bloomberg: U.S. Seeks More Authority to Seize Russian Assets to Aid Ukraine

•   Bloomberg: Deutsche Bank Sees 5%-6% Fed Target Rate and Deep U.S. Recession

•   Bloomberg: Satellite Data Show Extent of China’s Crippling Lockdowns

•   Bloomberg: China Is Running Out of Ways to Stem Self-Made Market Meltdown

•   Bloomberg: Anger Erupts at Xi’s ‘Big White’ Army of Lockdown Enforcers

•   Bloomberg: IMF Says Argentina’s $44 Billion Plan Unchanged Despite Shocks

•   Bloomberg: Japan’s New Economic Measures Won’t Boost Spending: SMBC Nikko

•   Bloomberg: Wall Street Pundits Rewrite Playbook as Fed Reverses Years of QE

•   Bloomberg: ECB Officials Urge Tighter Control of ‘Wild West’ Crypto Space

•   Bloomberg: ‘Strong Recovery’: Resilient Consumers Ease U.S. Recession Worry

•   Bloomberg: European Carmakers Will See a Cost and Demand Crunch, BofA Says

•   Bloomberg: India Woos Intel and TSMC to Set Up Local Semiconductor Plants

•   Bloomberg: EU Carbon Market Beset by ‘High Uncertainty,’ Report Shows

•   Bloomberg Businessweek: China Covid Situation Worsened by Lack of Local mRNA Vaccine

•   Reuters: IAEA says Russia's Chornobyl occupation was very dangerous

•   Reuters: Putin agrees to UN, Red Cross help to evacuate civilians from Mariupol steel plant -U.N.

•   Reuters: Indonesia may widen palm export ban to combat shortages

•   Reuters: ECB has room for 2-3 rate hikes this year, says Kazaks

•   Reuters: Caterpillar sales seen lifted by oil, commodity prices

•   Reuters: Analysis: France's fragmented left poses new risk for Macron

•   Reuters: Analysis: Bank of England enters uncharted territory as bond sales near

•   CNBC: WHO says weekly Covid deaths have dropped to lowest level since March 2020

•   CNBC: This is why inflation is painting a dark picture for the stock market outlook

•   SCMP: China capital outflows: as US battles inflation, Beijing goes on alert for ‘spillover effects’ from rate hikes

•   SCMP: China’s addition of new coal-fired power plants hurting global efforts to phase out dirty fossil fuel, report shows

•   SCMP: Shanghai lockdown forces Hong Kong manufacturers to cope with higher costs, delays and backlogs

•   SCMP: China yuan’s pressure to ease, but ‘internal fundamentals’ remain amid coronavirus battle

•   Caixin: China Puts Its Foot on the Gas to Spur a Faltering Economy

•   매경(P1): 세계화 끝났다…中 WTO 가입 앞둔 2000년 수준 후퇴

•   매경: 비트코인, 거스를 수 없는 미래…금본위제 폐지만큼 심오한 혁명

•   매경: "더 커진 S의 공포, 해법은 민간투자…정부, 판 깔아줘야"

•   매경: 인수위 "복수의결권 도입"…벤처기업 숙원 해결 나선다

•   매경: [단독] 인수위, 통신비 인하 검토…5G 중저가 요금제 신설 추진

•   매경: 공무원 긴장해야겠네...인수위 "연공서열 안 따지고 승진"

•   매경: [단독] 尹, 27일 슈바프 만난다…安, 다보스 특사 거론

•   매경: 나랏빚 증가율, 재정위기 그리스 추월

•   매경: 서울 아파트 평균매매가…강남 20억, 비강남 9억원

•   한경(P1): "中 부품이 안 온다"…제조업 올스톱 위기

•   한경: "부품부터 확보하라" 애플·MS·혼다 비상…韓, 뒷전으로 밀리나

•   한경: 먹고 입고 쓰고…눈에 보이는 모든 제품 '수급 차질'

•   한경(P1): [단독] 구본준의 LX, 매그나칩 품나

•   한경: "저출산은 기업 생존에도 위협…가족친화제도 정착 적극 나서야"

•   한경: S&P "韓 올 성장률 2.5%, 고령화·가계빚 위협 요인"…신용등급은 '안정적' 유지

•   한경: 환율 1250원 돌파…기업 180조 외화빚 폭탄 '째깍째깍'

•   한경: 회사채 막히자 대출 늘리는 기업들

•   한경: LG, 서울대와 '세상에 없던 AI' 개발 나선다

•   한경: 상반기 중 '공매도 완전 재개' 안 한다

•   한경: "대출 받아서라도 버티자"…강남 재건축 집주인들 '초강수'

•   한경: 주차장 기둥에 전기차 콘센트…포스코건설, 충전시스템 개발

•   한경: "더 이상 못 참아"…'세계 1위' TSMC 직원들 불만 터졌다 [정지은의 산업노트]

•   서경(P1): [단독] 물가·금리 치솟는데…국민 경제이해력 56점

•   서경(P1): [단독] 적자·난립에도…尹, '8대 지방공항' 모두 추진한다

•   서경(P1): SK 용인 반도체 클러스터, 3년 만에 내달 첫삽 뜬다

•   서경: 하이닉스 용인시대 개막…공장 4곳에 120조 투자

•   서경: 치솟는 임금, 못 따라가는 DB형 퇴직연금 수익률…대기업들, 기여금 6조 쏟아부어

•   서경: 먹거리만?…팜유 대란에 립스틱·비누 가격도 들썩

•   서경: [시그널] 오피스가격 급등에…외국계 투자사 '돈방석'

•   서경: 코로나 재감염 5.6만건…한달새 2배 뛰었다

•   조선(P1): [NEWS&VIEW] 北 ‘핵공격’ 협박에도 천하태평한 나라

•   조선: 괴물 ICBM·신형 SLBM·극초음속 미사일...北, 전략무기 3종세트 과시

•   조선: 방어용이라던 김정은, 대북제재에도 핵공격 가능 경고

•   조선: 인수위 “北에 맞설 ‘3축 체계’ 조속히 완성”

•   조선(P1): 한국노총 “10억 횡령한 건설노조위원장 영구 퇴출”

•   조선: 민주 발목잡기에… 장관 없이 정부 출범하나

•   조선비즈: 高환율에 ‘달러 빚’ 많은 항공사 부담… 수출 기업은 수혜

•   조선비즈: SK, 1200억원 투자해 SiC 전력반도체 제조사 인수

•   조선비즈: “협력사에만 못 맡겨”… 완성車 업계, 원자재 ‘직구’ 나선다

•   조선비즈: 수은 “2분기 수출, 전년 대비 10% 증가한 1730억달러 전망”

•   조선비즈: 인텔·AMD도 달라고 읍소… 삼성전기·LG이노텍 뛰어든 FC-BGA

•   동아(P1): 尹대표단 “DJ-오부치 선언 계승” 친서 전달… 기시다 “한일관계 개선 더는 못미뤄”

•   동아: 민주 발목잡기에… 장관 없이 정부 출범하나

•   동아: 정부-인수위 “마스크 해제 영향분석 데이터 없어”… 정치방역 우려

•   동아: “데이트 비용 10만원 부담” 거리두기 풀려도 ‘집콕’

•   동아: “TSMC-삼성전자 파운드리 격차 더 벌어질 것”

•   문화(P1): [단독]택시대란에… 서울시, ‘심야할증’ 밤 10시부터

•   한국(P1): "정부 혼자선 안 된다…민관 힘 합쳐 규제·일자리·지역개발 종합 고민해야"

•   한국: 코로나 재유행, 가을에 오나... 전파력 센 ‘뉴욕 변이’에 촉각

•   한국: 삼성전자가 OLED TV 신제품 내놓고 조용한 까닭은

•   국민: 한국 국민 3명 중 1명 코로나 걸렸다

•   서울: [단독] 서울 버스 대란 피했다… 임금 5% 인상 극적 합의

•   머니투데이(P1): "12년된 우회상장 규제, 이제는 풀자"

•   머니투데이: 셀트리온·JYP 우회상장의 좋은 예…'7000명 피눈물' 나쁜 예도

•   머니투데이: "우회상장 규제로 M&A 냉각…문턱은 낮추고, 후 감시 강화해야"

•   머니투데이: "우리 시장, 충분히 선진화" vs "일반투자자에 리스크 떠넘기기"

•   머니투데이(P1): "한국경제 '퍼펙트 스톰' 온다"…'기업인 사면론' 목소리 커지는 이유

•   머니투데이(P1): GS·두산·삼성·美 뉴스케일파워...세계시장 달굴 '소형원전 드림팀' 뜬다

•   머니투데이: 인수위, '공정거래 분쟁조정 통합법' 검토…실천과제 포함되나

•   헤럴드경제(P1): [알림] 새정부 주택정책 방향을 모색합니다

•   헤럴드경제: “현 공시가 현실화 계획, 경제상황 고려 안했다”

•   헤럴드경제: 전문가 “현실 모르는 공시가 계획…속도조절 필요”

•   헤럴드경제: “표준지 공시지가 조정을”…의견제출 5년래 최다

•   헤럴드경제: 국회보고 문턱 걸린 CPTPP 가입 신청

•   헤럴드경제: ‘세계 3위 반도체장비 기업’ 램리서치, 용인에 R&D센터 연다

•   파이낸셜뉴스(P1): [단독]일산·분당·평촌 재건축, 윤석열 임기내엔 못한다

•   파이낸셜뉴스(P1): GTX-E·F 신설 사실상 확정… 노선은 내년 윤곽

•   아시아경제: 건설현장 '안전관리자'도 씨가 말랐다

•   디지털타임스(P1): 치솟는 원자잿값… 내달 레미콘 13.1% 인상

•   디지털타임스: 둔촌주공·건자잿값 `겹악재`… 서울 아파트 분양 씨 마른다

•   이데일리(P1): 법인세·상속증여세 손 본다…새정부 감세정책 예고한 추경호

•   이데일리(P1): 피치의 경고 "尹정부도 안 바꾼 재정부양, 중장기 韓신용등급에 악재"

•   이데일리: [단독]국민연금, 한진칼 경영참여 손 떼나…보유목적 변경 재논의

•   이데일리: 韓배터리사, 광물 확보하느라 '전전긍긍'…전폭적 지원 나선 경쟁국

•   이데일리: 현대차 이어 삼성도 RE100 만지작…"원전 아닌 재생에너지 필요"

•   연합: 오후 9시까지 전국 7만5323명 확진…어제보다 621명 적어

•   연합: 산업계 "CPTPP 가입시 철강·섬유 수혜…기계·차부품에는 부담"

•   연합: 대기업 R&D 투자 첫 60조원 돌파…삼성전자가 이끌었다

•   KBS: 여행 수요 폭발…현지에서 코로나 걸리면?

•   SBS: [단독] '야외 마스크 해제' 2주 미루거나 일부 권고

•   전자신문: [스페셜리포트] 현대차그룹 ccOS, 고객 충성도·수익 확대 모두 잡는다

•   전자신문: [스페셜리포트]완성차 제조사 SW 내재화에 1차 부품사 '흔들'

[Opinions]

•   Project Syndicate(Brahma Chellaney): The Quad at a Crossroads

•   Project Syndicate(Jeffrey Frankel): The West’s Energy Policy Can Be Geopolitical and Green

•   Project Syndicate(Jean Pisani-Ferry): Macron’s Post-Election Dilemma

•   Project Syndicate(Kenneth Rogoff): The Growing Threat of Global Recession

•   FT(Martin Wolf): War in Ukraine is causing a many-sided economic shock

•   FT(Tabby Kinder): Wall Street’s Shanghai problem

•   WSJ(Editorial Board): Elon Musk, Twitter and Free Speech

•   WSJ(Editorial Board): Where Are Germany’s Weapons for Ukraine?

•   WSJ(William A. Galston): France’s Center Holds—for Now

•   WSJ(Chris Blattman): The Strategic Logic of Russia’s War on Ukraine

•   WSJ(Vivek Ramaswamy, Jed Rubenfeld): How Elon Musk Can Liberate Twitter

•   WSJ(Bing West): Ukraine Needs Far More Heavy Weapons

•   NYT(Paul Krugman): Food, Fertilizer and the Future

•   NYT(Philippe Marlière): France Is Still in Trouble

•   NYT(Robert Leonard): Biden Has Already Done More for Rural America Than Trump Ever Did

•   WP(Editorial Board): The best option to tackle inflation is for the Fed to get more aggressive

•   WP(Jeffrey Sonnenfeld, Steven Tian, Steven Zaslavsky): Businesses that refuse to leave Russia are experiencing the greatest costs

•   Bloomberg(Editorial Board): Why NATO Should Welcome Finland and Sweden

•   Bloomberg(John Authers): The Bigger Drama Is in China, Not Twitter

•   Bloomberg(Brooke Sutherland): GE and 3M Industrial Earnings Flash Warning Signs for Economy

•   Bloomberg(Karl W. Smith): Manchin’s Energy Plan Is Just What Biden Needs

•   Bloomberg(Jonathan Levin): Stocks Join Inflation Fight That Housing Resists

•   Fox News(Judith Miller): Putin may soon face one of his worst strategic nightmares