Greetings,
The United States: Starting off, the consensus estimate for the core CPI in May is an increase of 0.5%. The markets could react violently if we get an upward surprise, especially if calls for more aggressive Fed rate hikes get louder.
![](https://thedailyshot.com/wp-content/uploads/US-Nomura-Consensus2206080530.png)
China: Hong Kong-based and foreign investors are returning to mainland equity markets.
![](https://thedailyshot.com/wp-content/uploads/CH-Flows2206080530.png)
Also, the Port of Shanghai is nearly back to normal, easing supply chain concerns.
![](https://thedailyshot.com/wp-content/uploads/CH-AAA-Vessels-at-the-port-of-SHanghai2206080530.png)
Emerging Markets: India’s central bank hiked rates to address inflationary pressures.
![](https://thedailyshot.com/wp-content/uploads/EM-RBI2206080530.png)
![](https://thedailyshot.com/wp-content/uploads/EM-RBI-ST2206080530.png)
Equities: Small caps have been outperforming in recent days.
![](https://thedailyshot.com/wp-content/uploads/EQ-R2k2206080530.png)
Credit: In the next few years, high-yield defaults could hit the highest level since the financial crisis, according to Deutsche Bank.
![](https://thedailyshot.com/wp-content/uploads/CR-Defaults-coming2206080530.png)
Food for Thought: Lastly, let’s take a look at the academic majors of unicorn founders.
![](https://thedailyshot.com/wp-content/uploads/VTE-Academic-majors-of-unicorn-founders2206080530.png)
Edited by Alexander Bowers
Contact the Daily Shot Editor: Brief@DailyShotResearch.com