Macro Briefing: 28 April 2023

* US officials working with private sector to rescue First Republic Bank
* Eurozone economy continued to stagnate in Q1
* China raises pressure on foreign companies, posing new risks for Western firms
* Pending US home sales fell in March, first decline since November
* US jobless claims fell last week, staying low despite softer economic growth
* US growth slows more than expected in Q1 as consumer spending ramps up:

Fed funds futures continue to forecast high probability that the Federal Reserve will lift interest rates by 1/4-point again at the upcoming May 3 FOMC meeting, according to CME data.