• Manufacturing conditions across G4 nations improved in May, according to S&P Global’s Flash Purchasing Managers’ Index (PMI), moving from 48.3 to 49.6 and closer to neutral. Separately, measures of US manufacturing output were relatively flat. The EU’s Carbon Border Adjustment Mechanism (CBAM) is starting to concern exporters to the bloc, while weather conditions and agricultural supply surpluses weighed on the mind of Deere & Co.
• Tariffs continued to proliferate with the expansion of US Section 301 tariffs on mainland China scheduled for Aug. 1. Mainland China issued what will...