OUCH! #Euro sank to a 20y low against the US Dollar as investors pared bets on #ECB interest-rate hikes given the growing risk of a recession in the region. Euro fell as much as 0.9% to 1.0331, its weakest level since December 2002. pic.twitter.com/vssaqsxu8m

— Holger Zschaepitz (@Schuldensuehner) July 5, 2022

Good morning from #Germany where #recession fears are on the rise. 2022 growth forecasts have already plummeted to 1.7% from 4.5% at one point. The danger of recession is also becoming visible in bond mkts. 10y German bund yields have virtually collapsed from 1.9 to 1.2%. pic.twitter.com/2mYKdzwKwy

— Holger Zschaepitz (@Schuldensuehner) July 7, 2022

Good Morning from #Germany, which is falling as an economic powerhouse on a global scale. Germany’s trade surplus is gone. Foreign trade balance came in at MINUS €1bn in May, which is the 1st negative print since 1991 due to its energy problems & weakness in manufacturing. pic.twitter.com/HnRBwNaQon

— Holger Zschaepitz (@Schuldensuehner) July 4, 2022

#Russia has pocketed at least $24bn from selling energy to #China & #India since Ukraine war started, showing how higher prices limiting efforts by US & Europe to punish Putin. India spent $5.1bn on Russian energy in 3 mths to end of May, >5 times YoY. https://t.co/p0twRiyPmM pic.twitter.com/wZFmQ8tAOF

— Holger Zschaepitz (@Schuldensuehner) July 6, 2022