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The day in view

Every day, something moves markets. Usually the Fed; sometimes a GDP print; occasionally something no one saw coming except apparently everyone did. The macro headlines that actually matter, with the context to make sense of them.

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The day in view
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🇪🇺 Eurozone PMI holds at 52.2 for a fourth straight month as ECB hawks and doves split on June

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🇺🇸 Treasury dropped core inflation from its scorecard. The timing is convenient.

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Daily Macro Roundup: 2026-05-04

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🇨🇳 China's PMIs split in April: manufacturing held, services contracted, and stimulus still hasn't closed the demand gap

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🌍 EM manufacturing is fracturing into three blocs — and a Hormuz incident threatens the leaders

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🇬🇧 The BoE held rates. One member wanted to hike. That disagreement is the story.

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🇪🇺 Euro area manufacturing is back above 50 for a second month — the ECB plans to hike into it anyway

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🇺🇸 Q1 GDP came in at 2.0%. The PCE surge to 3.5% is the actual problem.

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Daily Macro Roundup: 2026-05-01

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[CN] China's April PMI holds at 50.3, but front-loading and services contraction tell a different story

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