Weekly Roundup
Investors were cautious this week ahead of the updates on US inflation data. Published yesterday, the data indicated that US consumer prices climbed to their highest levels in 13 years during May compared to the same time last year. The jump was greater than economists’ forecasts and does not appear to have derailed bullish sentiment, with the S&P 500 reaching all-time highs on Thursday.
The G7 summit is taking place this week in Carbis Bay, Cornwall, as world leaders meet to discuss key world issues. The Global Tax Rate will be high on the agenda led by US President Joe Biden, who believes it will create a “more fair and inclusive global economy”. The leaders of the G7 nations are expected to announce a minimum rate of around 15%.
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