Zhimeitong | International Highlights

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01. North America

More than half of U.S. households have purchased an Amazon Prime membership . Research firm Numerator’s retail membership tracking site compares Amazon Prime, Walmart’s Walmart+, and Target’s Shipt Everyday program, data shows that nearly two-thirds of U.S. households (62% ) is subscribed to at least one retail membership. More than half (53.6%) of U.S. households subscribe to Amazon Prime, 8.1% subscribe to Walmart+, and 1.3% subscribe to Target Shipt Everyday.

In terms of the number of subscribed members, more than 80% of U.S. households subscribe to just one, 13.8% have two, 3.7% have three, and only 2.5% have four or more. Families that subscribe to multiple membership plans value convenience, business value and variety more. The vast majority of households tend to subscribe to only one membership plan, which also means that there will be direct competition between membership plans on different platforms.

[Dollar index hits biggest drop in two years] The U.S. dollar index fell 1%, the biggest drop in 18 months, to a nearly two-week low. Growing speculation of an impending economic slowdown reversed a rise in interest rates that had sparked investor enthusiasm for the greenback; the decline was a big reversal for the greenback. The dollar had rallied strongly for most of the year as the Federal Reserve signaled plans to sharply tighten monetary policy to keep inflation down. That has bolstered the greenback's appeal against currencies such as the euro and the yen; but the dollar has begun to change amid signs that economic growth may begin to cool and U.S. Treasury yields have fallen sharply from this year's highs. The Swiss franc, long seen as a safe-haven currency, posted its biggest three-day gain in more than two years. The yen is also rising; Wells Fargo strategists say the dollar has performed well this year and investors may have made a lot of money buying dollars and selling foreign currencies.

[Uncertainty caused by the Fed's hawkishness has greatly increased the volatility of U.S. Treasury bonds] The Federal Reserve has aggressively tightened policy, and uncertainty about the impact has dragged down Treasury yields. U.S. Treasury bonds may have the most volatile year in more than a decade. There have been 95 trading days so far in 2022, and 50 of the 10-year Treasury yields have traded at least 10 basis points in a single day. That puts the year on track for more than 130 days, which would be the highest level since 2009. Yields edged higher on the 19th local time after falling sharply overnight. The head of fixed income research at Westpac in Sydney said inflation-induced policy tightening was ahead of the curve and there was great uncertainty about its impact on medium-term growth. Volatility in U.S. bonds mirrored volatility in the stock market, and investors had little refuge.

[U.S. House of Representatives passes bill to ban "excessive" gasoline prices] The U.S. House of Representatives passed a bill on the 19th local time to prohibit (oil companies) from selling gasoline at "excessive" prices. The bill is not expected to gain Republican support in the Senate. The average price per gallon of regular unleaded gasoline has hit a new high over the past 10 days. "Big Oil is exploiting the American people," said the New Jersey Democrat. “While U.S. gasoline prices are at record highs, big oil companies are taking advantage of the instability (looting) caused by the conflict between Russia and Ukraine.” Democrats worry that soaring gasoline prices will jeopardize their support for Congress after November’s midterm elections control, they blamed the pain caused by oil prices on oil companies that instead of using the profits to keep prices down, they increased share buybacks.

[Fearless of economic recession worries, U.S. oil rebounded more than 6% from the daily low] June U.S. crude oil futures rose 2.4% to settle at $112.21 a barrel, after falling more than 4% to $105.13 during the session; July Bren Crude oil futures settled at $112.04 a barrel, up 2.7%. Crude oil, the two major benchmarks, continued to fluctuate wildly, gaining nearly $5 a barrel in a few hours, recouping losses earlier in the week; Ed Moya, senior market analyst at Oanda, said that as concerns about the destruction of crude demand intensified, oil Markets remain volatile. Despite recession fears, oil markets remain tight and fears of a sharp drop in "short-term crude demand" are overdone; crude prices have risen more than 40% this year amid strong demand for refined products, falling global inventories and record gasoline prices .

[U.S. existing home sales fell to the lowest level since the beginning of the epidemic in April] The U.S. housing market cooled as mortgage rates rose. Property sales fell for the third straight month in April and fell to their lowest level in nearly two years.

[Amazon expands North Carolina business, greatly enhances logistics and warehousing capacity] According to reports, Amazon announced that it will further expand its business in North Carolina, including new warehousing and distribution centers, Whole Foods supermarkets, wind farms and solar farms. According to reports, Amazon has invested in 7 new projects in North Carolina: 8 warehousing and distribution centers, 9 distribution centers, 16 Whole Foods Markets, 2 Prime Now warehouse centers, 1 wind farm, 1 solar farm. Among them, Amazon has opened a new warehouse in Cumberland, a new distribution center in Carey, operates a new warehouse in Ghana and is expanding into Johnston County.

[Amazon Business and Precoro Integrate to Simplify Business Purchasing Process] According to foreign media reports, Amazon Business recently announced an integration with purchasing software company Precoro to help companies better utilize Punch-in tools to simplify the purchasing process and strengthen Amazon’s B2B business.

According to reports, on January 27 this year, Amazon launched the Punch-in tool, an online tool for B2B purchasing. With this integration, businesses can now submit shopping carts to Precoro to generate and approve purchase bills after purchasing items on Amazon Business. Meanwhile, businesses making purchases on the Precoro platform (using the catalog to create purchase requisitions or bills) now have the option to bypass requisitions and allow employees to make purchases directly on Amazon Business, easily submit approvals, and complete purchases faster .

[U.S. launches radical legislation to demolish Google's advertising business] A bipartisan group of senators led by Republicans from Utah introduced a bill on the 19th local time aimed at cracking down on conflicts of interest in the advertising technology industry, forcing Google to break up its Dominant online advertising business. The Competition and Transparency in Digital Advertising Act, which would bar companies that process more than $20 billion in digital ad deals annually from participating in multiple parts of the digital advertising ecosystem, would directly affect Google Inc. Google dominates every aspect of connecting online ad buyers and sellers, running tools that help businesses sell and buy ads, and tools that help auction houses or exchanges conduct transactions. Under the bill, Google cannot continue to do all of these businesses.

[Microsoft responded that IE browser took seven years to "retire": it takes time to develop products based on the future] Microsoft's phenomenal product "IE browser" has officially announced that it is about to retire, and its 27-year career will finally come to an end. On May 18, Microsoft responded that it will take time to develop a browser that can meet current and future needs. "Before the official deactivation on June 15, 2022, Microsoft made a series of preparations, including the release of Chromium-based browsers. Microsoft Edge and prepare consumers to transition to the new browser.”

[Blue Origin delays fifth manned space flight backup system performance failed to meet expectations] According to reports, Blue Origin announced on the 18th local time that it had postponed the fifth manned space flight originally scheduled for the 20th local time. Spaceflight because one of the New Shepard's backup systems did not perform as expected. Blue Origin said in a statement: "During a final inspection, we found that a backup system in New Shepard was not performing as expected. Out of an abundance of caution, we are delaying the scheduled launch on the 20th." Announcing the latest launch date.

[Tesla’s registrations in California soared 83.7% in the first quarter] According to the California New Car Dealers Association (CNCDA), the total number of California light vehicle registrations in the first quarter of this year was 425,216, down 13.8% year-on-year. The association noted that the reason for the drop in sales was not lack of demand, but limited production. Among them, the number of electric vehicle registrations increased by about 37% year-on-year to 73,138 (estimated), accounting for 17.2% of the total registrations, a record high. Tesla registrations surged 83.7% to 48,038 vehicles, and its market share rose to 11.3% from 5.3% a year earlier, the fastest-growing brand in the state. In terms of models, Tesla Model Y and Tesla Model 3 sold 21,812 and 21,506 units, respectively, the two best-selling models; Model S and Model X registered 3,495 and 1,225 units, respectively.

02. EU region

[Most ECB members agree to raise interest rates twice this year by 25 basis points] According to the financial news organization MNI-Market News, citing ECB sources, most ECB policymakers are said to be prepared to support at least two interest rate hikes this year, each of 25 basis points. basis points, while some see three rate hikes possible to get back to neutral. Although some officials played down the idea of ​​ECB Governing Council member Nott downplaying the idea of ​​raising interest rates by 50 basis points, the possibility has also attracted the attention of members. There is still some time before the July meeting, when a 25 basis point hike is all but certain. After that, another crisis is likely, but the ECB will begin to face the challenge of further tightening later in the year as recession risks begin, given that household consumption will be heavily affected by higher energy prices and cost pressures Appear.

[EU new car registrations fell 21% in April] According to data released by the European Automobile Manufacturers Association (ACEA), continued supply chain pressure led to a sharp drop in EU new car registrations in April. New car registrations in the EU fell 21% year-on-year to 684,506 in April. ACEA said this was the lowest April volume on record, except for April 2020, which was after the outbreak. All major markets saw declines, with Italy seeing the biggest drop of 33%, ACEA said. Likewise, nearly all major automakers saw sales decline for the month, with Stellantis seeing the biggest drop, down 32 percent from a year earlier, the association's data showed.

[The EU stipulates that member states should have 80% of their natural gas reserves before this winter] On the 19th local time, the European Parliament and EU member states reached an agreement to accept the European Commission's proposal in March this year on the establishment of minimum natural gas reserves by member states. Suggest. It was decided that by November 1 this year, the natural gas reserves of EU member states should not be less than 80% of the full gas storage capacity, and by November 1 next year, the natural gas reserves of each country should not be less than 90% of the full gas storage capacity. European Commissioner Simson said that the minimum reserve is set to ensure the energy security of EU countries when winter comes.

[Romania ranks first in the EU in terms of economic growth rate in the first quarter of 2022] According to Eurostat data, the EU’s GDP grew by 0.4% in the first quarter of this year, and Romania’s growth rate was the highest, up 5.2% month-on-month. The euro zone's GDP rose 0.3% in the first quarter of this year, while US GDP fell 0.4% over the same period.

Compared with the first quarter of last year, seasonally adjusted GDP in the euro area grew by 5.1% and in the European Union by 5.2%. Romania achieved 6.5% growth, making it the strongest economic growth country along with Portugal, Poland, Austria, Hungary and Denmark (11.9%, 9.1%, 8.7%, 8% and 6.8% year-on-year respectively).

[European bond market: German government bonds hit the biggest one-week gain driven by safe-haven demand] 10-year bonds led German Bunds higher, and swap spreads hit close Biggest increase in two weeks. Money market bets on ECB tightening were little changed, with a 34bps rate hike expected in July, and the minutes of the April meeting showed some central bankers hoped the action would not be delayed. British government bonds erased most of the gains, money markets expect little to no bets The Bank of England is expected to raise interest rates by 124 basis points in December.

[Media survey: German business confidence declines] A business expectations survey of 25,000 companies by the German Federation of Industry and Commerce (AGCIC) shows that German business confidence has deteriorated significantly amid soaring energy and commodity prices. One-third of companies surveyed fear that business activity will get worse over the next 12 months, while just 19% expect the situation to improve. German GDP is expected to grow by more than 1.5% in 2022. The DIHK managing director believes that so far, "we have only experienced such a severe industry shrinkage during the financial crisis and the first round of lockdowns triggered by the epidemic in 2020".

[Spanish gasoline prices once again hit a new high of 1.898 euros per liter since statistics] On May 19, local time, according to the latest announcement issued by the European Union, Spain's fuel market prices continued to remain high. Without taking into account the fuel discount measures formulated by the Western government, the price of gasoline in Spain reached 1.898 euros per liter this week, hitting a new high again since statistics. Diesel prices in the country fell this week after six consecutive weeks of increases, with diesel prices in Spain at 1.887 euros per liter this week.

03. Other regions

[Russian Ministry of Economic Development: Russia’s oil production will drop by 9.3% this year and natural gas will drop by 5.6%] According to the main parameters of the forecast report on Russia’s social and economic development scenarios for 2023, 2024 and 2025 published on the website of the Russian Ministry of Economic Development, according to Under the basic plan, Russian oil and condensate production in 2022 will fall by 9.3% compared to 2021 to 475.3 million tons, while natural gas production will drop by 5.6% to 720.9 billion cubic meters.

[UK inflation rate hits a 40-year high for poor people living hard] According to data released by the Office for National Statistics, the UK consumer price index (CPI) rose by 9% year-on-year in April, setting a record high in 40 years. Grant Fitzner, chief economist at the ONS, said the sharp rise in inflation in April was mainly due to a sharp rise in the UK's energy price cap, with electricity and gas prices climbing sharply. At the same time, food prices and transportation costs have also raised the cost of living for the British, exacerbating the living plight of low- and middle-income families.

[Capital Economics: RBA to raise interest rates by 25 basis points in June] Capital Economics senior economists said in a report that slowing employment growth in April and subdued first-quarter wage growth may convince the RBA to raise interest rates in June The rate hike was only 25 basis points for the month, not the 40 basis points that some had expected. Employment rose by 4,000 in April, the weakest gain since the end of the lockdown in October and well below the 30,000 rise that analysts had expected. But with job openings at historically high levels relative to the labor force, the unemployment rate will continue to decline, likely to around 3.5% by next year. Overall, the RBA will stick to its "business as usual" approach and raise the cash rate next month.

[Several Brazilian sugar mills cancel sugar export contracts and switch to ethanol] Brazil is the world's largest sugar producer. Against the backdrop of soaring international oil prices, many Brazilian sugar mills have recently switched to ethanol production. Ethanol can be mixed with oil as a biofuel for vehicles, and the surge in international oil prices has made Brazilian sugar mills see higher profit margins. Some sugar traders revealed that even if sugar mills break their contracts and pay liquidated damages, they can still make profits in the biofuel market by producing ethanol. So far, Brazil's crude sugar exports have been cancelled by 200,000-400,000 tons. Recently, the market price of hydrous ethanol has just surpassed the price of jaggery futures. The most actively traded June jaggery futures on the New York Mercantile Exchange are currently trading between 19 and 20 cents a pound, while the market price of hydrous ethanol has been converted to more than 20 cents a pound. The market expects that international oil prices will continue to run at a high level, pushing up the demand for biofuels in many places, and there is still room for ethanol prices to rise. Compared with the long settlement period for sugar export transactions, the sale of ethanol in Brazil's domestic market can be settled in only one to two days, which also makes sugar mills more inclined to produce ethanol.

[Indonesian government bans bauxite and tin exports this year] Indonesia's investment minister and director of the Investment Coordination Agency (BKPM) said that the government will ban bauxite and tin exports this year to support the downstream construction of mining. “The Ministry of Investment is transforming the economy through a natural resource management approach or downstream. The government has banned nickel exports. In the near term, the government will ban bauxite exports and tin exports by the end of the year,” he said. Bally explained that banning mineral exports would encourage downstream industries to create maximum added value for the country.

[In order to control inflationary pressures, the Central Bank of Egypt announced to raise interest rates] On the 19th local time, the Monetary Policy Committee of the Central Bank of Egypt decided at a meeting held on the same day to raise the basic interest rate by 200 basis points to 2%, and the overnight deposit and loan interest rates by 200 basis points. basis points to 11.25% and 12.25%. The credit rate was also raised by 200 basis points to 11.75%.

[Singapore and Malaysia plan to fully restore sea, land and air connectivity] Singapore's foreign minister, who is visiting Malaysia, said that Singapore and Malaysia are discussing the full restoration of sea, land and air connectivity. Wei Wen said that although the epidemic has caused a difficult environment for the two countries in the past two years, Singapore and Malaysia have still played the role of stable and reliable partners in the crisis and kept the supply chain smooth. The two sides are discussing a full restoration of connectivity in the coming weeks to months.

Zhimeitong | Logistics Highlights

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[ Maersk and CMA CGM continue to reduce or exempt various fees for some goods in Shanghai ] Maersk and CMA CMA have successively stated that they will continue to reduce or exempt the relevant fees for some goods in Shanghai. Maersk announced on its official website that with the decline of new cases in Shanghai, the efficiency of Maersk's freight services in Shanghai is gradually improving. Maersk also stated that for the export of goods in the Shanghai area, the electric release fee, the third place signing fee, and the change from the original bill of lading to the Way Bill, which occurred between March 28 and May 22, will be exempted. At the same time, during the period from March 28 to May 22, the payment period will be extended additionally.

According to CMA CGM, according to the latest situation, the yard resources of Shanghai's terminals are still tight, especially the first phase of Shanghai Waigaoqiao Terminal and the first, second and fourth phases of Yangshan Port. At the same time, due to the increased pressure of the shortage of staff at Waigaoqiao Wharf, the situation of prolonged waiting time at Shanghai Port Wharf still exists. In this regard, CMA CGM will continue to waive late payment fees from May 16 to May 22, 2022 for all cash customers who ship in Shanghai and pay for export goods.

[ The single-day container throughput of Shanghai Port has recovered 90% ] According to the press conference on epidemic prevention and control in Shanghai on May 19, recently, the single-day container throughput of Shanghai Port has reached 119,000 TEUs, returning to normal. 90%; the daily cargo throughput of Pudong Airport has exceeded 7,000 tons, which has returned to the level of 70%; the number of freight vehicles entering and leaving Shanghai through the provincial border crossing of the expressway has reached 78,000 in a single day, returning to two-thirds of the normal level. In terms of foreign trade, in the first half of May, the value of imported and exported goods monitored at Shanghai Port was 188.6 billion yuan, a month-on-month increase of 17%.

[ Fujian: The province's coastal port throughput will reach 800 million tons in 2025 ] The Fujian Provincial Department of Transportation, the Provincial Development and Reform Commission, and the Fujian Maritime Safety Administration jointly issued the "Fujian Province's Work Plan for Building a World-Class Port to Expand and Strengthen the Southeast International Shipping Center (2021)" — 2023)”. The plan proposes that by 2023, the province's coastal ports will have a throughput of 730 million tons and containers of 19.5 million TEUs. Among them, the throughput of Xiamen Port strives to reach 230 million tons and 13.5 million TEUs of containers, and the throughput of Fuzhou Port strives to reach 300 million tons and 4.2 million TEUs of containers. The freight turnover of railways, highways and waterways in the province has exceeded 19 billion, 120 billion and 950 billion ton-kilometers respectively.

Zhimeitong | Domestic Highlights

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[Qinghai's import and export volume of 1.277 billion yuan from January to April ranks sixth in the country ] According to Xining Customs statistics, from January to April this year, Qinghai Province achieved an import and export volume of 1.277 billion yuan, a year-on-year increase of 21.5%, ranking first in the country. 6 bits. Among them, the export value was 565 million yuan, an increase of 48% year-on-year, ranking fourth in the country; the import value was 712 million yuan, an increase of 6.4% year-on-year, ranking 13th in the country.

[Ministry of Commerce: From January to April, the amount of service outsourcing contracts undertaken by Chinese enterprises was 589.9 billion yuan, an increase of 8.8% year-on-year ] According to data released by the Ministry of Commerce today (May 19), from January to April 2022, Chinese enterprises undertake service outsourcing The contract value was 589.9 billion yuan (the same currency below), and the executed value was 387.2 billion yuan, a year-on-year increase of 8.8% and 15.3% respectively. Among them, the contract value of offshore service outsourcing was 333.8 billion yuan, and the executed value was 215.4 billion yuan, a year-on-year increase of 7.0% and 10.9% respectively. (In dollar terms, from January to April, the value of service outsourcing contracts undertaken was US$ 90.7 billion, and the executed value was US$ 59.5 billion, an increase of 12.6% and 19.6% year-on-year respectively. Among them, the contract value of offshore service outsourcing was US$ 51.4 billion and the execution value was US$ 33.1 billion. , up 10.5% and 15.1% year-on-year, respectively.)

Zhimeitong | E-commerce highlights

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[Amazon Japan: Prime Day membership price creation qualifications have been announced, submitted a week before the big promotion] Amazon Japan announced that sellers can now view the qualifications for creating discounted prices that are only available to Prime members, and Amazon does not charge sellers to create Prime Day discounted prices Any fees, the following is the content of the announcement:

Amazon Prime Members Only Discounts” is a discounted price for Amazon Prime members only. Sellers in Japan can create a discounted price for Amazon Prime members only one week before Prime Day 2022 to participate in the Amazon 2022 Prime Day sale. Amazon does not charge sellers Any fees that create a discounted price for Prime members only.

Last Morning Post: Inflation is high, the National Retail Federation calls for a change in tariff policy on China; U.S. new home construction decreases in April｜Cross-border E-commerce Daily

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