Americans' assets (excluding debt) reached a record $154.2 trillion at the end of the first quarter of this year. Such data is posted on the US Federal Reserve's website. Their combined wealth increased by $26.3 trillion compared with the end of March last year, when the coronavirus pandemic began. In quarterly terms, Americans' wealth increased by $5.2 trillion. Individuals owed $17.2 trillion...

The European Central Bank (ECB) expects a major acceleration of economic growth in the 19-country eurozone in the second half of this year, the governor, Christine Lagarde, said. Eurozone real GDP fell 0.3% in the first quarter of this year and was 5.1% down to its pre-crisis level for Q4 2019, she said. Various surveys and indicators hint at the possibility of a significant recovery in business...

Chinese exports were up nearly 28 per cent in dollar terms in May from a year earlier. Imports soared 51.1 per cent, a record since 2010. The trade surplus for the month was $45.5 billion. The country has embarked on a trade boom, Bloomberg wrote. Overseas demand for Chinese goods is rising as global economies emerge from months of isolation, fueling consumer spending. A strong recovery has...

China's trade surplus, however, still rose during the month from $43 billion to $46 billion. Most of the import dynamics is due to the low base effect, and the surplus growth looks quite low compared to previous years, notes Capital Economics. Overall, May saw a sharp increase in China's food imports, particularly soybeans (from Brazil, not the US, with whom a trade deal is in place), while oil...

OPEC expects Iran's future oil production growth to be transparent and orderly, keeping the market stable, OPEC Secretary General Mohammed Barkindo said in a statement on the organisation's website. "We anticipate that the expected return of Iranian (oil) production and exports to the world market will take place in an orderly and transparent manner, thereby maintaining the relative stability we...

Total G20 exports in the first quarter of 2021 rose 8 percent to $4.01 trillion from the fourth quarter of 2020, and imports rose 8.1 percent to $3.97 trillion, the OECD said. In the fourth quarter, these figures rose to 7.5% and 7.2% from the previous period, respectively. Trade growth in the first quarter of this year was fuelled, among other things, by higher prices for agricultural...

Matthew McDermott, head of digital assets at Goldman Sachs, noted the growing demand for cryptocurrencies among institutional investors. He wrote this in an email to Global Marco Research. The world's most popular cryptocurrency, Bitcoin, has become an investment asset that is now going through a phase of adoption. This is the belief expressed by McDermott. In a letter, he acknowledged the...

The International Energy Agency (IEA) is calling for an immediate halt to investment in exploration and development to achieve carbon neutrality by 2050. The IEA's call has been heavily criticised and called reckless. The IEA Net Zero 2050 report, which calls for a complete halt to investment in oil and gas projects to achieve carbon neutrality by 2050, has had a bombshell effect. Carbon...

The volume of global trade following the COVID-19 pandemic crisis recovered to a record level in the first quarter of 2021, up 10% year-on-year, according to a UN Conference on Trade and Development (UNCTAD) report released on Wednesday. "World trade volume recovered from the COVID-19 crisis to a record high in the first quarter of 2021, up 10% year-on-year and 4% quarter-on-quarter," the report...