Global Economic Monitor 220701

(Introduction)

[Markets]

•   Global: S&P 500 closes the book on its steepest first-half slide since 1970

※   U.S. May consumer spending rises moderately; inflation stays hot

※   Nasdaq notches biggest-ever Jan-June percentage drop

※   Indexes down: Dow 0.82%, S&P 0.88%, Nasdaq 1.33%

•   Natural gas: Believe it or not, gas prices have been edging down ahead of Fourth of July — here’s why

•   Metals: Copper sees sharpest quarterly plunge since 2011

•   Grains: Soybeans end mostly lower, grains plunge after USDA acres data

•   한국: 코스피, 외국인·기관 대량 매도에 2,330대로 추락

[Indicators]

•   US May Personal spending·income: Cooling Consumer Spending Points to Further Economic Slowdown

※   Household spending in May rose at slowest rate this year; some economists see second-straight quarterly contraction

•   US Jun. PCE price index: Inflation Stayed High in May, According to Fed’s Preferred Measure

※   WSJ: The Fed Is Still Feeling the Inflation Heat

•   US Weekly Jobless claims: U.S. Jobless Claims Edged Lower Last Week

•   US Weekly Mortgage rates(Freddie Mac): Mortgage Rates Drop After Three Weeks of Increases

•   Eurozone May Employment: Euro zone unemployment falls to new record low of 6.6% in May

•   Germany May Retail sales: German retail sales inch up in May

•   Germany Jun. Employment: German Unemployment Unexpectedly Jumps on Ukrainian Refugees

•   UK Q1 Current account: UK trade performance falls to worst level on record in first quarter

•   UK Q1 Household incomes: UK Household Incomes Are in The Longest-Ever Run of Declines

•   UK Jun. Business confidence: UK Business Confidence Drops to 15-Month Low as Inflation Surges

•   China Jun. Home sales: China’s Home Sales Slump Eases in June After Support Measures

•   China Jun. PMI: China’s Economy Returns to Growth Mode as Covid-19 Lockdowns Lift

•   Japan May Industrial production: Japan's May factory output suffers biggest slump in two years

•   India Q1 External debt: India's external debt at $620.7 billion as of March 2022

•   India Q1 Government's liabilities: Govt's total liabilities rise 3.7% to Rs 133.22 lakh crore in March quarter

•   India May Fiscal account: Centre's fiscal deficit at 12.3% of full year target in May

•   India May Core industry production: Output of eight core industries surges to 18.1% in May

•   India Jun. Consumer sentiment: After three consecutive months of fall, consumer sentiments recover slightly in June

•   Brazil May Employment: Brazil Unemployment Hits Single Digits for First Time Since 2016

•   Saudi Arabia Q1 Employment: Saudi Unemployment Falls to Lowest Since 2008 as Economy Booms

•   한국 1분기 외환당국 순거래액: 정부, 원화값 방어에 사상최대 10조 투입

•   한국 2분기 국세 통계: 종부세 낸 사람 100만명…5년새 68만명 늘어

•   한국 5월 산업동향: 5월 생산·투자 반등…대외리스크에 회복세 지속은 '안갯속'

※   조선비즈: 지난달 국내 반도체 재고 53% 증가…4년여 만에 최대

•   한국 5월 금융기관 가중평균 금리: 치솟는 가계대출 금리… 한 총리 “경제전쟁 상황”

•   한국 5월 아파트 증여: 집값 떨어지자…아파트 증여 급증

•   한국 주간 아파트 가격(부동산원): "매물 쌓이는데 거래 실종"…서초구 빼고 서울 집값 다 하락

[News]

•   WSJ: Crypto’s Tumultuous Second Quarter Leaves Investors Asking: What Else Could Go Wrong?

•   WSJ: Growth Fears Challenge Soaring Oil Prices

•   WSJ: Treasury Bonds Rally at End of Second Quarter

•   WSJ: U.S. to Support Ukraine for ‘As Long as It Takes,’ Biden Says

※   Remarks conclude week of summits in which wealthy democracies pledged to bolster Europe’s defenses against Russia

•   WSJ: U.S., Key Allies Close Ranks Against China

•   WSJ: Biden Backs F-16 Sales to Turkey Amid Deal to Expand NATO

•   WSJ: Supreme Court Puts Brakes on EPA in Far-Reaching Decision

※   High court says agency overstepped its authority in restricting greenhouse gas emissions in a ruling with ramifications for other regulators

•   WSJ: Supreme Court Marks New Era of Ambitious Conservatism

•   WSJ: Biden Supports Exception to Filibuster to Codify Roe v. Wade Into Law

•   WSJ: FDA Wants Fall Covid-19 Boosters to Target Omicron Subvariants BA.4 and BA.5

•   WSJ: Geithner Says Fed’s Rate Pivot Highlights Need for Treasury Market Fixes

•   WSJ: OPEC, Allies Agree to Boost Oil Production Ahead of Biden’s Saudi Visit

※   Plan has done little to ease concerns over supply as several alliance members struggle to meet their share of production

※   OPEC: 30th OPEC and non-OPEC Ministerial Meeting

•   WSJ: Russian Gas Cuts Push Uniper Into Bailout Talks

•   WSJ: Shiploads of Russian Grain and Good Weather Temper Wheat Crisis

•   WSJ: Europe Moves to Defuse Tension With Moscow Over Russian Exclave Kaliningrad

•   WSJ: Xi Jinping Visits Hong Kong to Mark Anniversary, Capping Crushing of Dissent

•   WSJ: Indonesia’s Jokowi Visits Ukraine and Russia, Warning Food Crisis Looms

•   WSJ: Israel Sets New Election, Spotlighting Role of Arab Minority in Government

•   WSJ: General Motors Slowly Ramps Up Electric Hummer Production

•   WSJ: Tencent, ByteDance Implement Fresh Layoffs Amid China’s Economic Pains

•   WSJ: Qualcomm’s Apple Slice Still Has an Expiration Date

•   NYT: Ukraine drives Russian forces from Snake Island, a setback for Moscow.

•   WP: Think U.S. gas prices are high? Here’s how far $40 goes around the world.

•   WP: Africa’s desperate hunger: Ukraine war pushes Somalia toward famine

•   FT: France ready to bypass Hungary for global corporate tax deal

•   FT: Turkey’s Erdoğan threatens to derail Nato enlargement again

•   FT: North Macedonia signals acceptance of plan to unlock EU membership talks

•   FT: Military briefing: Nato brings back cold war doctrine to counter Russian threat

•   FT: Streaming now: eurocrisis, the sequel

•   FT: What six months of French presidency meant for the EU

•   FT: Italy issues bonds at highest borrowing costs since wake of eurozone debt crisis

•   FT: Why UK inflation will stay higher for longer than in other nations

•   FT: Negative impact of Brexit is clear, claims EU

•   FT: The reinvention of Hong Kong

•   FT: China lured graduate jobseekers into digital espionage

•   FT: Marcos Jr takes office with promise to ‘sweat’ on Filipinos’ behalf

•   FT: How much further can coal go?

•   Bloomberg: Economists Sour on US Outlook After Spending Stumbles

•   Bloomberg: Germany Risks ‘Imminent’ Recession on Gas Cutoff, Deutsche Bank Says

•   Bloomberg: Italy Approves Energy Relief as Draghi Battles Spike in Prices

•   Bloomberg: EU Should Seek Joint Borrowing For Ukraine Impact, Official Says

•   Bloomberg: UK Housing Market Sees Signs of a Slowdown After BOE Rate Hikes

•   Bloomberg: Tokyo Heatwave Hints at Even Bigger Power Crunch for Summer Peak

•   Bloomberg: Sri Lanka Breaks Into Hyperinflation Zone Amid Dollar Crunch

•   Bloomberg: Hunger Gap Rise Threatens Health Security, African Leaders Say

•   Bloomberg: Bolsonaro’s Cash Handouts Proposal Keeps Growing in Congress

•   Bloomberg: Ecuador Protest Ends With Indigenous Groups, Government Deal

•   Bloomberg: Metals Cap Worst Quarter Since 2008 on Global Downturn Angst

•   Bloomberg: US Port Talks Enter Crunch Time as Cargo Keeps Rolling

•   Bloomberg: Renewable Energy Costs Rise, Just Not as Much as Fossil Fuels

•   Bloomberg: These 4 Charts Show How Much Global Energy Has Changed Since 2000

•   Bloomberg: EU Floats Fix to Carbon Market-Based Plan to Fund Energy Pivot

•   Reuters: Exclusive: Chances for Iran nuclear deal worse after Doha talks, U.S. official says

•   Reuters: U.S. recession "more likely than not", same for Europe - PIMCO

•   Reuters: EXCLUSIVE ECB to channel cash from north to south in bid to cap spreads - sources

•   Reuters: Global nuclear power capacity needs to double by 2050 -IEA

•   Reuters: U.S. to add 6 GW offshore wind capacity through 2029 -EIA

•   Reuters: Tesla's run of record deliveries may be reaching the end of the road

•   Reuters: Exclusive: Meta girds for 'fierce' headwinds, slower growth in second half -memo

•   Reuters: Micron's weak outlook sparks concerns of chip down cycle

•   CNBC: Housing shortage starts easing as listings surge in June

•   CNBC: The crypto collapse shows the Fed’s job is ‘almost complete’ against inflation, Jim Cramer says

•   SCMP: China urged to boost defence talks with US, Japan, South Korea as trio joins hands on Pyongyang nuclear threat

•   SCMP: US-Taiwan trade talks rankle mainland China as ‘inevitable’ deal seen pulling island into US orbit

•   SCMP: US firms in China praise quarantine cut, but coronavirus restrictions still weigh heavy on confidence

•   SCMP: China stalls on EU trade talks date as push for Lithuania WTO case gains ground, bloc officials say

•   Caixin: Analysis: China's 'Zero-Covid' Policy Is Here to Stay Despite Relaxing of Quarantine Rules

•   Caixin: In Depth: How Chinese Factories Are Finding Their Way to Mexico

•   Nikkei Asia: EV supply chain: Japan, China vie for power in lithium standards

•   Nikkei Asia: Japan automakers' global output dropped again in May amid lockdowns

•   Nikkei Asia: TSMC struggles to keep new hires, warns of power supply risks

•   매경(P1): 세종 빼고 지방 투기과열지구 모두 해제

※   국토부: 지방 투기과열지구 해제 등 규제지역 조정

•   매경: "집값 튈라" 서울·수도권 놔두고…'미분양 무덤' 지방만 풀었다

•   매경(P1): "수익 찾아 삼만리"…美 채권 모으는 개미, 매수 4배 급증

•   매경: 생애 첫 집 살 때 LTV 80% 완화…최대 한도는 6억 [하반기 달라지는 것들]

※   기재부: 「2022년 하반기부터 이렇게 달라집니다」책자 발간

•   매경: 반도체 기업 품은 두산, 직원 식당부터 바꾸는 이유는?

•   한경(P1): "빚 많은 공공기관…비핵심 자산 팔라"

•   한경: 한전·LH 등 14곳 부채만 372조…개선 없으면 기관장 바꾼다

•   한경: 작년 공공기관에 '정부지원금 117조원' 투입

•   한경: 김대환 前장관 "대기업·공기관, 노동유연화 필요"

•   한경: 산단공장 폐업 4년새 5배 급증…벼랑 끝 내몰린 중소제조업체

•   한경: 비상장거래소 '개점 휴업' 위기

•   서경(P1): [단독] 고금리속…대기업 빚 11% 늘었다

•   서경: [단독] 시총상위 20곳 중 6곳, 빚 30% 이상 늘어…"증가 속도도 너무 가팔라"

•   서경(P1): 인건비에…소상공인 "차라리 폐업"

•   서경: 내년 최저임금 9620원…편의점주 “도저히 수용 못해”

•   서경: '역대 36번 중 13번' 공익위원 뜻대로…업종별 차등 적용 또 무산

•   서경(P1): 민주노총, "최저임금 이슈…하투 핵심동력"

•   서경: 이창용, 한은 총재 최초로 '잭슨홀 미팅' 발표

•   서경: '무늬만 직무급’에 부글부글 끓는 공공기관 MZ세대

•   서경: "식용유값 열흘새 33% 올라"…자영업자 '비용 짜내기'

•   조선(P1): 공공기관 구조조정, 지방정부가 시동 걸었다

•   조선: 경남 4년새 공무원 30% 급증… 강원도 산하 위원회만 189개

•   조선: 지방정부 채무 매년 눈덩이 증가… 올해 31조원 예상

•   조선: 시청사부터 물류창고까지… 단체장들, 전임자 사업 뒤집기

•   조선: “건보료 개편 제대로 안돼… 체감효과 미미”

•   조선: 소득·재산 상위 20% 노인들도 불안감 크다

•   조선: 튀르키예 야채 가격이 150% 뛰었다...농사 많이 짓는 나라가 왜?

•   조선: 수요 폭발, 인력난… ‘물류 자동화’에 아마존도 손정의도 수조씩 투자

•   조선: 코딩 모르는 문과생도 SW·앱 만드는 시대가 성큼

•   조선비즈: “국제 표준 선점하자”… 조선·IT, 선박 자율운항 ‘최초’ 경쟁

•   조선비즈: 삼성에 밀린 TSMC, 애플 손잡고 3나노 반격 나선다

•   조선비즈: [단독] 최태원, 이달 말 빌 게이츠 만난다…원전‧코인 투자 논의할 듯

•   조선비즈: 코로나19 감염재생산지수 1주째 1 이상… “7월 말 하루 1만명 나올수도”

•   조선비즈: “대기업 임금상승 자제” 주문한 추경호號 기재부, ‘최저임금 5% 인상’에는 침묵…왜?

•   조선비즈: [단독] 정부, ‘경단녀’ ‘육아휴직 복귀자’ 고용 기업 세액공제 확대 연장 방침

•   인베스트조선: LG엔솔 미국 공장 건설 전면 재검토…비용 부담 줄었지만 통상문제 비화 우려도

•   중앙(P1): K세일즈 외교 ‘중국 대안’ 유럽서 찾는다

•   중앙(P1): 올여름 폭염 걱정? 전력대란 더 걱정

•   JTBC: [팩트체크] 우리나라 1인당 전기 사용량이 세계 3위?

•   동아(P1): 대통령실 “한미, 北 개인-기관 제재 확대플랜 준비돼”

•   동아: 추경호 “기업, 가격인상 요인 흡수를”… 이복현은 금리인하 압박

•   동아: 사퇴 압박받는 홍장표, 부경대에 2학기 강의 신청

•   동아: 로봇 대중화 시대 성큼… “구독하고 보험도 들어요”

•   한국(P1): 누리호가 싣고 간 큐브위성, 첫 번째 '사출' 성공

•   한국: 인터넷이 바꾼 세상, AI는 더 바꾼다… 초거대 AI 개발전쟁 스타트

•   국민: 꺼도 꺼도 타는 전기차 화재… 친환경차 전환 발목 잡나

•   머니투데이(P1): "M&A 문턱 확 낮춘다"...공정위, 기업결합 개선TF 구성

•   헤럴드경제: 증권사 비관 전망에 기관들 더 판다

•   파이낸셜뉴스: 소형 트럭도 전기차가 대세… 지자체 56% 보조금 동났다

•   디지털타임스(P1): [기획] "내각제로 바꿔야 대한민국 재도약"

•   디지털타임스: 10만개 기업 대상 납품단가 조정 현황 조사

•   디지털타임스: 휘발유 유류세 인하액 182원 중 69원만 반영

•   디지털타임스: 애플, 한국앱 제3자 결제 허용했지만… 26% 수수료 논란 불보듯

•   연합: 오후 9시까지 전국 8984명 확진…1주 전보다 2천여명 많아

•   연합: 12대 수출 주력업종 대기업 "하반기 수출 0.5% 증가에 그칠 것"

•   연합: 작년 그룹 총수 경영성적표…이재용 부회장, 매출 등 4개 항목 1위

•   전자신문: [3나노 GAA 시대]핀펫 시대 종언…트랜지스터 패러다임 바꿨다

•   전자신문: [3나노 GAA 시대]TSMC 인텔 후발주자 추격 따돌려야

•   전자신문: [3나노 GAA시대]설계부터 소부장까지 '생태계' 바뀐다

•   전자신문: [3나노 GAA 시대]삼성, '와이어' 뛰어 넘고 '시트' 택했다

[Opinions]

•   Project Syndicate(Carl Bildt): Europe’s Fate and Ukraine’s Survival

•   Project Syndicate(Mark Leonard): The European War Project

•   FT(Gillian Tett): Business leaders need to speak up for democracy

•   FT(Robert Armstrong): China stocks bounce

•   FT(Richard Waters): US still lagging in delivering on chip ambitions

•   FT(Simon Kuper): Why the Tories don’t care about the future

•   FT(Kirill Rogov): Putin’s rupture with the west turns Russia towards China

•   FT(Lex): China coal: fat margins for producers as green energy movement goes on pause

•   WSJ(Editorial Board): Biden’s Raid on the Permian Basin

•   WSJ(Editorial Board): Democrats for Trumpians

•   WSJ(Editorial Board): NATO Gets a Military Upgrade With Finland and Sweden

•   WSJ(Arthur Laffer, Stephen Moore): Economic Growth, Not Austerity, Is the Answer to Inflation

•   WSJ(Karl Rove): The Trump 2024 Test Runs

•   WSJ(Joseph C. Sternberg): The G-7’s Economic Fantasy Summit

•   WSJ(Elisabeth Braw): Why Does China Own So Much of Ukraine?

•   WP(Editorial Board): Biden’s answer to Russia is a new, improved NATO

•   WP(Henry Olsen): NATO’s summit shows the alliance is strong. But it must be much stronger.

•   WP(Josh Rogin): How a thaw with Turkey could help Ukraine win the war

•   WP(Katja Hoyer): Putin is forcing Germans to get real about the military

•   Bloomberg(Mihir Sharma): Modi's Attempt to Reform Indian Army Backfires for Lack of Jobs

•   Bloomberg(John Authers): Markets See a Pyrrhic Inflation Victory as Growth Fears Dominate

•   Bloomberg(Chris Bryant): Labor Strikes in UK, US: Workers Unite Against Inflation, Cost-of-Living Crisis

•   Bloomberg(Jonathan Bernstein): Joe Biden's Approval Rating Plumbs New Depths

•   Bloomberg(Andreas Kluth): NATO: Turkey's Nod to Finland and Sweden Create a Baltic Lake to Buttress East

•   Bloomberg(Gearoid Reidy): There Is No ‘Back to Normal’ After Covid

•   Bloomberg(Jonathan Levin): Small Businesses Are Flashing a Recession Warning Signal

•   Reuters(John Kemp): Global business cycle starts to turn down

•   Reuters(Jamie McGeever): Fed's inflation target ambiguity risks market misstep

Global Economic Monitor 220630

(Introduction)

[Markets]

•   Global: S&P 500 limps to slightly lower close as quarter-end looms

※   U.S. economy contracted in Q1; consumer spending revised lower

※   General Mills rises as sales beat on higher prices

※   Bed Bath & Beyond replaces CEO, shares tumble

※   Dow up 0.27%, S&P down 0.07%, Nasdaq off 0.03%

•   Japan: Yen briefly dips into 137-range against dollar for fresh 24-year low

•   Metals: Copper prices hover near 16-month lows on demand fears

•   Grains: Chicago spot corn, soybean futures extend gains ahead of key USDA report

•   한국: 코스피 또 2,400선 무너져…환율 다시 1,300원 눈앞

•   한국: 현대차·기아, 獨사무소 압수수색 소식에 5% 미끄럼

•   한국: LG엔솔 美공장 재검토 소식에… 배터리 업종 동반 급락

[Indicators]

•   US Q1 GDP(final): U.S. GDP’s Early 2022 Dip Was Bigger Than Previously Thought

•   US Weekly Mortgage rates·applications(MBA): Mortgage demand stalls again, even as interest rates swing briefly lower

•   Eurozone Jun. Economic sentiment: Eurozone Economic Sentiment Declines in June

•   Germany Jun. CPI: German Inflation Eases on Temporary Government Relief Measures

•   Japan May Retail sales: Japan May retail sales rise faster than expected as COVID curbs ease

•   한국 상반기 직종별 사업체 노동력: 구인난 허덕이는 뿌리산업…인력 미충원율 30% 웃돌아

•   한국 5월 무역지수 및 교역조건: 5월 수입금액지수 1년 전보다 32%↑…국제유가 급등 영향

•   한국 5월 주택통계: 전월세 거래서 월세 비중 한달새 50.4→59.5%…서울 미분양 2배↑

•   한국 5월 지가: 땅값 다시 들썩인다…3개월째 상승폭 커져

•   한국 6월 은행 가계대출 잔액: 치솟는 금리, 가계대출 반년째 줄어들었다

•   한국 6월 BSI·ESI: 물가·경기 우려에 기업 체감경기 3개월 만에 나빠져

[News]

•   WSJ: U.S. to Ramp Up Military Presence in Europe to Counter Russia

※   New troops and weapons are part of NATO’s response to the war in Ukraine, including the first permanent U.S. troops to Poland

•   WSJ: Ukraine, Russia Exchange Prisoners as War Grinds On

•   WSJ: Russia’s War in Ukraine Drives Gains in NATO Weaponry

•   WSJ: In New Poll, 89% of Ukrainians Reject Ceding Land to Reach Peace With Russia

•   WSJ: Ukraine’s War of Attrition Exacts Heavy Toll on Both Sides

•   WSJ: Powell Says Fed Must Accept Higher Recession Risk to Combat Inflation

※   Federal Reserve is raising interest rates at aggressive pace as price pressures hit 40-year high

•   WSJ: Loretta Mester Says Fed Is on Track for 0.75-Point July Rate Hike

•   WSJ: Gas Prices Test American Appetite for New Cold War With Russia

•   WSJ: Russia’s Surprising Economic Headache: A Strong Ruble

•   WSJ: Iran, U.S. Nuclear-Deal Talks End Without Progress

•   WSJ: For India’s and Japan’s Green Ambitions, the Heat Is On

•   WSJ: CEO Stock Sales Raise Questions About Insider Trading

•   WSJ: DeFi’s Existential Problem: It Only Lends Money to Itself

•   WSJ: Grocery, Restaurant Executives See Inflation Altering Consumer Spending

•   WSJ: The iPhone Turns 15 Today. Here’s How It Changed Us.

•   WSJ: Tech Giants Pour Billions Into AI, but Hype Doesn’t Always Match Reality

•   WSJ: European, U.S. Groups Plan Salvo of Privacy Complaints Against Google

•   WSJ: FCC Member Calls On Apple, Google to Banish TikTok

•   WSJ: Ford’s Talk of New EV-Selling Rules Rattles Some Dealers

•   NYT: A President Untethered

•   NYT: Why do Finland and Sweden appear headed toward swift NATO membership while Ukraine isn’t?

•   NYT: Liquefied Natural Gas Comes to Europe’s Rescue. But for How Long?

•   WP: Companies in China are aiding Russia’s military, U.S. alleges

※   Commerce Department adds the firms to a trade blacklist, saying their contracts to supply Russia violate export controls

•   FT: EU states agree deal to push for tougher climate measures

•   FT: UK plans to cut pipelines to EU if Russia gas crisis intensifies

•   FT: UK imposes sanctions on Russian oligarch Vladimir Potanin

•   FT: UK to suffer high inflation longer than other nations, warns Bailey

•   FT: China’s Marxism majors prosper amid labour market woes

•   FT: Ships going dark: Russia’s grain smuggling in the Black Sea

•   Bloomberg: Export Controls ‘Matter More Than Ever,’ US Commerce Chief Raimondo Says

•   Bloomberg: Fed’s Inflation Fight Made Tougher by State Relief Efforts

•   Bloomberg: Biden’s Oil-Gas Lease Plan Challenged by Environmental Groups

•   Bloomberg: ECB Gets Inflation Whiplash as Spain at 10%, Germany Slows

•   Bloomberg: ECB to Avoid Bond Targets or Thresholds in First Line of Defense

•   Bloomberg: ECB’s Wunsch Says Government Aid May Spell More Rate Hikes

•   Bloomberg: ECB’s Simkus Wants Half-Point July Hike as Option If Data Worsen

•   Bloomberg: EU’s Sefcovic Says He Won’t Contemplate Hard Border in Ireland

•   Bloomberg: New BOE Policy Maker Prefers Gradual Approach to Rate Rises

•   Bloomberg: Macron’s Push to Fasttrack Coalition Talks Makes Little Headway

•   Bloomberg: European Power Jumps as Low Wind Is Exacerbating Energy Crisis

•   Bloomberg: EU Gets Landmark Deal to Phase Out Combustion Engine by 2035

•   Bloomberg: German Industry Sees Supply-Chain Snarls Lasting Well Into 2023

•   Bloomberg: China’s Easier Travel Rules Are Still the World’s Toughest

•   Bloomberg: China Has Quietly Cemented Lockdown Rules as It Eases Quarantine

•   Bloomberg: Xi Warns Against ‘Herd Immunity,’ Vows to Stick With Covid Zero

•   Bloomberg: Economists See China Keeping Covid Zero Despite Quarantine Cut

•   Bloomberg: Marcos Poised to Take Power 36 Years After Family Fled Manila

•   Bloomberg: Bolsonaro’s Brawl With a Top Justice Tests Brazil’s Democracy

•   Bloomberg: Funds Taking on BOJ Ready for a Key Look at Its Defense Plan

•   Bloomberg: Tally of Canned Europe Bond Deals Keeps Climbing as Markets Sour

•   Bloomberg: Russia Muscles In on Indian Oil Market at Expense of OPEC Titans

•   Bloomberg: The Whole Market Is Looking Like a Really Big Oil Trade

•   Bloomberg: LA Port Chief Sees No Strike as Labor-Contract Expiry Looms

•   Bloomberg: Toyota Vehicle Output Shrinks Before Planned Production Hike

•   Bloomberg: How Extreme Weather Could Impact Crops, Food Inflation

•   Reuters: Putin still wants most of Ukraine, war outlook grim -U.S. intelligence chief

•   Reuters: EXCLUSIVE EU nears compromise deal to defuse standoff with Russia over Kaliningrad

•   Reuters: NATO's Stoltenberg expects Sweden, Finland to become members quickly

•   Reuters: OPEC+ meets with little prospect of pumping more oil

•   Reuters: Companies cut spending, jobs as outlook grows less certain

•   Reuters: NY Fed begins publishing corporate bond market distress index

•   Reuters: France presses energy, shipping firms to ease inflation pain

•   Reuters: BOJ's public relations crisis forces rethink on inflation message

•   Reuters: EXCLUSIVE India's top cement maker paying for Russian coal in Chinese yuan

•   Reuters: Chip shortages result in record wire fraud reports by desperate buyers

•   Reuters: Analysis: What slowdown? Canada's economy to top G7 on high oil, crop prices

•   Reuters: Analysis: Latest U.S. stocks bounce tests skepticism that rally can last

•   Reuters: Analysis: Markets challenge Fed timeline, threatening more swings in Treasuries

•   Reuters: Analysis: Easing COVID-19 rules, growth focus aid China bulls' cautious return

•   CNBC: ‘We are in a hybrid war’: German foreign minister says as Russia cuts gas supplies to Europe

•   CNBC: ECB’s chief economist sees double-sided risk of spiraling inflation and an economic slowdown

•   CNBC: The economy still isn’t ready for the significant rate hikes ahead, Wells Fargo CEO says

•   MarketWatch: What’s next for the stock market after it has its worst 1st half since 1970? Here is the history.

•   SCMP: Chinese President Xi Jinping repeats call for tech self-reliance, innovative talent

•   SCMP: Coronavirus: faced with mounting costs, some ask whether China can afford to maintain mass testing

•   SCMP: China’s easing of zero-Covid restraints set to release stocks into bull-market territory for first time in three years

•   SCMP: China jobs: ‘arduous’ task to stabilise employment and boost economy, Premier Li Keqiang says

•   SCMP: Shanghai reopening: as restaurants restart offering dine-in services, owners say any more lockdowns will be ‘a fatal blow’

•   SCMP: US protectionism hits China hardest, and Chinese are more averse to trade because of it, study finds

•   Caixin: Charts of the Day: China Looms Large in Laos Debt Crisis

•   Nikkei Asia: New chip for robots conveys 'sense of touch' to human operators

•   Nikkei Asia: Analysis: New carrier's name, Fujian, mirrors Xi's Taiwan obsession

•   매경(P1): [단독] 美 "러 원유가격 상한제, 韓도 동참해달라" 요청

•   매경: 러시아 원유 의존도 낮지만…보복 우려에 韓정부 고심

•   매경(P1): [단독] 정부, 호화청사 때리더니…이번엔 "자산 현황 다 내라"

•   매경(P1): [단독] '제3판교 테크노밸리'소식에…반도체 회사 41곳 벌써 줄섰다

•   매경: 판교서 R&D부터 인재육성까지…K반도체 팹리스 생태계 구축

•   매경: 한국, 팹리스 세계 시장 점유율 1%대 불과

•   매경: 韓 정부-론스타 10년 분쟁, 10월까지 결론

•   매경: 8兆 체코원전 민관 수주 총력전

•   매경: 국민연금 곳간 점검…당정 연금개혁 속도

•   매경: 7월부터 대출 1억 넘으면 DSR 적용…신용대출 한도는 확대

•   매경: 회장 오른지 4년…구광모가 고르고 고른 새 먹거리는

•   매경: [Science in Biz] 세상에 더러운 에너지는 없다…'탄소혐오' 거둬라

•   매경: [Industry Review] '유동성 시대' 막내리자…장외시장 향하는 투자자들

•   매경: [Industry Review] 조직문화 세대교체…"기 센 임원도 Z세대 신입 눈치 봅니다"

•   한경(P1): 내년 최저임금 5% 오른 9620원…월급으로 환산하면 201만원

•   한경(P1): "2030년 UAM 대중화…택시보다 싸게 탄다"

•   한경: "2026년 에어택시 등장…여의도~인천공항 13분에 이동"

•   한경: "차량·로봇·가전 5000억개 기기 연결…6G 통해 AI 세상 본격화"

•   한경: "협동로봇, 의료·물류 등 확장성 무한대"

•   한경: "자율주행·UAM 기술 결합…공간과 시간의 한계 깰 것"

•   한경(P1): "소주성 설계자가 KDI원장 말 안돼"

•   한경: 野 '물가연동 법안' 추진…인플레 부채질하나

•   한경: "휴일에도 온라인 배송 가능"…당정, 대형마트 족쇄 풀기 나섰다

•   서경(P1): 인플레發 '과잉 재고'…글로벌경제 새 뇌관

•   서경(P1): [단독] 삼성전자, 8년만에 반도체 R&D센터 짓는다

•   서경: [단독] 삼성전자, 3차원 D램 등 차세대 반도체 속도전…TSMC·인텔 협공 따돌린다

•   서경(P1): [단독] 빚 아랑곳않고…중기 公기관 증축·증원

•   서경: 급속한 고령화에…장기요양보험 수입·지출 10조 넘었다

•   서경: [단독] 신형 넥쏘 출시 2024년으로 늦춘다

•   서경: 낮아지는 기업실적 눈높이…삼성전자 영업익 60조 밑으로

•   서경: 상장 리츠, 3년새 자산 9배…兆단위 '공룡'도 속속 등장

•   서경: "차라리 월세 산다" 쌓이는 매물, 집값 하락 장기화 되나

•   조선(P1): 한미일 정상, 5년만에 3각협력 되살렸다

•   조선(P1): [NOW] 점심값 너무 올라… 구내식당 북적북적

•   조선: 프랑스와는 원전, 네덜란드와는 반도체, 폴란드와는 방산협력 강화

•   조선: 尹 “한국, 나토와 국제안보 위협에 공동 대응”

•   조선: 尹 “기시다, 양국관계 발전시킬 파트너라 확신”

•   조선: 尹대통령 “한미일 협력은 세계평화·안정의 중심축”

•   조선(P1): 지역가입 561만가구 건보료 月3만6000원 내려

•   조선: 한국수출, 中비중 23%로 1위지만… 2018년부터 감소세

•   조선: 한일재계회의, 다음 달 4일 3년 만에 서울에서 열린다

•   조선: 한국 안방 누비는 중국 로봇청소기

•   조선: 가격 통제 안한다더니 금리 이어 임금까지 압박 나선 尹정부

•   조선: “연말까지 전기료 월 1억 오를 판”… 열처리 업체 아우성

•   조선: 상반기 투자 성적… 기관 > 외국인 > 동학개미 > 서학개미

•   조선: “자율車 최고 수혜 산업으로”… 차량용 반도체 전쟁

•   조선비즈: 벌써부터 소비 위축 조짐…하반기 경기 침체 ‘경고음’ 커졌다

•   조선비즈: “엔데믹 시대 식생활, 취식 횟수 줄고 식단 간소화”

•   인베스트조선: 당분간 한국 투자는 '홀드(HOLD)' 하겠다는 글로벌 펀드들

•   중앙: 이 프로젝트 맡을 전문가 있소? 억대 연봉 ‘수퍼 프리랜서’ 시대

•   동아(P1): 원희룡 국토 “임대차3법 중… 갱신요구권-상한제 없애야”

•   동아: PC방들 “전기료 겁나 ‘24시간 영업’ 중단”

•   동아: 다시 열린 김포~하네다… “경제-문화 교류도 열리길”

•   한국: "같은 아파트, 같은 면적인데 전셋값은 8억 차이" 법이 조장한 '3중 가격'

•   국민: [금융뒷담] “타고난 관운”… 청문회 패스 첫 금융위원장 나오나

•   한겨레: 한국 2차전지 종합경쟁력 86.3점…중국 이어 2위 수준

•   한겨레: 아파트 전세난 ‘풍선효과’…매매가 턱밑까지 차오른 ‘오피스텔’ 전세

•   한겨레: [현장에서] 에너지 전환 비용? 정권 바뀌니 산업부 설명도 달라지네

•   경향: 탄소중립의 길, 에너지 전환…‘공공성 조화’ 난제 풀어야 옳은 길[팩트체크 민영화]

•   머니투데이(P1): [단독]이게 바로 이재용 저력…TSMC 추격 '차세대 EUV' 따냈다

•   머니투데이(P1): [단독]정부, 반도체 세액공제 5배 '파격' 확대 검토

•   머니투데이: 정부, 주택 공급 속도 높인다 "공공·민간 구분 없이 인허가 단축"

•   헤럴드경제: 최저임금·전기료 인상에, ‘무인 편의점’ 대세 될까

•   헤럴드경제: 자재값 고공행진...조합·시공사, 계산기 다시 두드린다

•   헤럴드경제: 김앤장으로 이직한 경제관료...10년간 최소 100명 넘는다

•   파이낸셜뉴스(P1): SK(주)머티리얼즈, 日 기업과 손잡고 美 반도체 출사표

•   파이낸셜뉴스(P1): 한국도 '백신주권국'… 수출길 열렸다 [국산 1호 코로나 백신 나왔다]

•   파이낸셜뉴스: 미·유럽보다 효과 좋은 K-백신, 중저개발국 방역시장 잡는다 [국산1호 코로나 백신 나왔다]

•   파이낸셜뉴스: 전기차 충전요금 할인특례 폐지... kwh당 300원대 중반까지 오른다

•   파이낸셜뉴스: 지방도시 사라진다… 인구 90%, 전체 국토 6.7%에 몰려 살아

•   파이낸셜뉴스: 올해 LNG선 발주 100척 넘었다… 국내 조선3사 절반 수주

•   아시아경제(P1): [단독]'발등의 빚' 한전…美 초대형 태양광 인수 추진

•   아시아경제: 건설사 수주대박에도 착공은 뚝…주택공급 비상

•   디지털타임스(P1): [기획] 급기야 보험사까지… 바닥에 처박힌 금융권 신뢰

•   이데일리(P1): 토레스 사전계약 2.5만대 찍은 쌍용차…KG그룹 인수로 퀀텀점프

•   연합: 오후 9시까지 전국 9076명 확진…지난주보다 2023명 많아

•   연합: 대기업 75% "내년 상반기나 돼야 투자활동 점차 활성화 예상"

•   연합: 내일부터 전기·가스요금 오른다…10월에 또 동시 인상

•   연합: 너무나 달라진 NFT 시장…인기 작가 경매도 '썰렁'

•   전자신문(P1): 100만원 이하 '보급형 폴더블폰' 나온다

•   전자신문: 쌍용차는 BYD, 기아는 CATL...中배터리 공습

•   전자신문: OLED 재료 시장 연평균 21% 성장…2026년 30억달러 돌파

•   전자신문: 서버 출하량 3분기까지 견조…올해 5.1% 성장

[Opinions]

•   Project Syndicate(Nouriel Roubini): A Stagflationary Debt Crisis Looms

•   Project Syndicate(Takatoshi Ito): America’s Watery Indo-Pacific Alphabet Soup

•   Project Syndicate(Brahma Chellaney): Hydropower Is a Bad Bargain

•   Project Syndicate(Todd G. Buchholz): More Pipes, Less Putin

•   FT(Mohamed El-Erian): The risk of a flip-flopping Fed

•   FT(Alan Beattie): US-led security push in Asia leaves trade as an optional extra

•   WSJ(Editorial Board): An Oil Price Cap for Russia?

•   WSJ(Red Jahncke): Rising Interest Rates Will Crush the Federal Budget

•   WSJ(Peter Tirschwell): More Supply-Chain Disruptions Are Coming

•   NYT(Alex Kingsbury): NATO Expansion, Compliments of Mr. Putin

•   WP(David Ignatius): NATO is united on Ukraine. Good, but plenty could still go wrong.

•   WP(Max Boot): Putin wants to terrorize Ukraine into submission. It’s not working.

•   WP(Henry Olsen): Rising interest rates will shackle the government — unless Congress acts

•   Bloomberg(Mark Gongloff): A Hot Housing Market Is a Financial Crisis Risk

•   Bloomberg(John Authers): Disquiet Over the Housing Market Is Only Growing

•   Bloomberg(Liam Denning): In the Face of War and Pestilence, Clean Energy Keeps Growing

•   Bloomberg(Gary Shilling): Bond Market Rally Signals an Impending Economic Recession

•   Bloomberg(Hal Brands): Ukraine War: NATO, US Must Move More Far Troops to Russia's Borders

•   Bloomberg(Bobby Ghosh): A Middle Eastern NATO? Not Gonna Happen

•   Bloomberg(Adam Minter): China Is Quickly Challenging US on Mars Exploration

•   Bloomberg(Faye Flam): The Covid Pandemic Can’t Be a Permanent Emergency

•   Bloomberg(Javier Blas): Can Saudi Aramco Meet Its Oil Production Promises?

•   Bloomberg(Jonathan Levin): Never Mind Peak Inflation. Fed's Powell Wisely Eyes the Long Term.

•   CNN(Dana Peterson): Why so many workers are still quitting their jobs

•   MarketWatch(Rex Nutting): Why are Americans so grumpy about the economy? They've never lost so much purchasing power in one year, as the stimulus dries up and inflation boils over

•   MarketWatch(Peter Morici): Defending Taiwan starts with standing up to Putin

•   Fox News(Bernie Sanders): Don't cut Social Security, expand it