Wildfires and 'Super El Niño' Threaten to Squeeze Commodities Further
Wildfires across France and Spain and a forecast 'Super El Niño' add pressure to commodity markets even as BofA says the K-shaped consumer spending gap has closed.
Wildfires and Heat Compound European Pressures
Wildfires have burned nearly 300,000 acres across France and Spain as a heat wave looms, with temperatures in France expected to reach 95 degrees Fahrenheit this week. France is bracing for a fourth major heatwave as crews tackle an ongoing blaze in Bordeaux.
'Super El Niño' Seen Squeezing Commodities
A 'Super El Niño' is expected to squeeze commodities even further this year.
Consumer Spending Gap Narrows
BofA said the K-shaped gap in consumer spending has closed.
China Tightens Tax Rules on Offshore Trusts
China is targeting offshore trusts with new tax rules.
Sources
- Wildfires burn nearly 300,000 acres in France and Spain as heat wave looms (cnbc)
- France braces for fourth major heatwave as crews tackle Bordeaux blaze (investing_com)
- A 'Super El Niño' is expected to squeeze commodities even further this year (yahoo_finance)
- BofA says K-shaped consumer spending gap has closed (investing_com)
- China targets offshore trusts with new tax rules (yahoo_finance)
Not investment advice.