Wolf Money(world market review 6-12 July 2026)
Market Summary 6-12 Jul 2026
*USA*
+ US Composite Output Index reached 51.9 in Jun, rising from 51.5 recorded in May: S&P Global
+ US Services PMI eased to 54.0 in Jun vs 54.5 in May, remain in expansion territory for 24 consecutive mth: ISM
-US consumer borrowing declined for the 1st time since 2024, total credit outstanding down by about US$182m in May
+ US initial jobless claims fell by 2000 to 215,000 to 6-week low
+ US wholesales inventories rose 0.1% MoM to US$914.8bn in May, 3rd consecutive mth of slower inventory growth
-US trade deficit in goods and services increase US$23bn MoM or 42.4% to US$77.6bn in May
+ Fed’s Chairman Warsh tapped broad group of Fed outsiders to oversee 5 task forces to review central bank’s operations
+ US sells US$39bn in 10-year notes at 4.58% yield and bid-to-cover ratio of 2.59
+ US sells US$57.8bn in 3-year notes at 4.179%, bid-to-cover ration at 2.6
-Fed: inflation remains elevated mostly driven by Trump’s tariff policy, Iran war, AI
± US sales of existing homes slipped 2.4%, national median home price rose to US$440,600 to all time high
-US summer travel decline as 45% of Americans skip holidays due to soaring airfares and car travel expenses
+ Morgan Stanley expects global mergers and acquisitions activity to hit record US$6.4 trillion in 2026
-US said to be preparing list of products from Spain that could be embargoed soon
-US, Iran exchange more strikes as tensions boil over in the Strait of Hormuz
± US senators reached deal with Trump to advance a bill on update sanctions on Russia
+ Boeing unveiled new 737 MAX production line
-Apple sues OpenAI and 2 former employees for trade secrets theft
+ Micron plans to invest >US$250bn in US through 2035
+ Meta to put AI chip into production in Sept, looks to double computing capacity
*CHINA*
+ China’s H1 GDP expected to hit the upper bound of govt’s target range, near 5% YoY growth, lifted by advanced manufacturing
+ China’s Jun CPI rose 1% YoY, slowing from May’s 1.2% increase; core inflation edged down to 1%
-China’s PPI up 4.1% YoY in Jun, vs 3.9% rise in May, the steepest pace since Jul 2022
-China’s central bank identified a structural mismatch between strong supply and weak demand in the economy; plans to maintain appropriately loose monetary policy and increase financial support to boost domestic consumption
+ Chian rolls out labour plan to cap urban jobless rate at 5.5% or lower in coming 5 years
+ China’s AI penetration rate in key industries has exceeded 80%
+ China successfully lands reusable rocket for the first time
+ China’s NEV production reached 7.44m units, up 6.7% YoY, NEV sales reached around 7.45m, up 7.3% YoY in first 6 mths
+ China exported around 5.1m vehicles in H1, up 65.3% YoY, NEV exports reached 2.36 units, up 1.2-fold YoY
-China announced temporary controls on helium, effective immediately
+ China aviation group plans to prioritise the low-altitude economy in 2nd half of the yr
+ China plans to raise share of non-fossil energy consumption to 25% to total energy consumption by 2030
+ China stepped up efforts to curb “involutionary” competition, launching 15 special campaigns focus on strengthening regulatory enforcement
+ China issued 5-year plan to become tourism powerhouse, with inbound arrivals by 2030, with total spending >US$150bn
+ China sets new record with 369m cross-border trips in H1, up 10.8% YoY
+ IMF upgrades China’s 2026 growth forecast outlook by 0.2% to 4.6%, downgrades global growth outlook
+ China overtakes US in fintech patent filings over past decade; Chinese banks and tech firms drove the surge
+ China to host 2026 World AI Conference and High-Level Meeting in Shanghai with ‘record -breaking’ participation
-China issued warning over backdoor security risks in Anthropic’s AI coding tool Claude Code
+ Shein received approval to proceed with its HK IPO
+ HKEX signed MOU with CIPS, doubles down on cross-border yuan business
*EUROPE*
+ European Investment Bank (EIB) plans to invest €80bn in European Union’s technology sector
-German corporate bankruptcies hit 21-year high, almost 5000 companies filed for insolvency in Apr-Jun
+ Germany’s trade surplus widened to €19.1bn in May, largest in 3 mths
+ Germany’s exports rose 0.9% MoM to over 3.5 yrs high of €137.9bn in May; shipments to US surged 23.1%
-Porche deliveries in H1 at 122.306 units, down 16% YoY, sharpest decline in China with 32% drop
+ UK Andy Burnham to succeed Keir Starmer as leader of the governing party
-France lowers 2026 growth outlook to 0.7% vs originally projected of 0.9%
-France’s trade deficit stood at €6.9bn in May, expanding by around €1.5bn from Apr
+ Dutch trade minister began a 3-day visit to China this wk
-Russia bans diesel exports after Ukrainian attacks, deepens global supply crunch
*ASIA*
+ Japan’s services sector sentiment index edged up to 44.o in Jun, highest level since Feb
-Japan’s corporate goods price index, measure of wholesale inflation, rose 7.2% YoY in Jun
-Japan company bankruptcies hit 14-year high in first half of 2026
+ Japan sells ¥599.7B in 30-year bonds at 3.996% yield
+ Japanese business group is considering sending a delegation to China for a 4-day trip in late Sept: Kyodo News
+ Japan successfully launches and lands reusable rocket
+ SK Hynix’s US share sale raises US$26.5bn in record breaking US IPO at US$149 per ADR; jumps 14% in Nasdaq debut
+ Malaysia’s growth could be on upper half of 4%-45% range: BNM governor
+ Malaysia wholesale and retail totalled RM171.3bn in May, up 11% yOY
± Malaysia BN swept victory in Johor state election, winning 48 out of 56 seats and surpassing vs 40 in 2022.
+ Sarawak to establish Sibu economic zone (SEZ) with an allocation of RM1.5bn
+ Sg more than 25 types of robots have been deployed across about 60 construction projects to tackle labour crunch
+ Sg to inject S$800m into transport and connectivity research and innovation over 5 yrs
+ Temasek hits record S$518bn net portfolio value for FY2025
Contribution by Derek@valueinvestments chat group. Thank you.
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