Fed's Bostic: Ratings downgrade will have an impact on the cost of capital and may affect the entire economy.

[This week's important events and data preview - May LPR, Trump's call with Putin, and multiple Fed officials' voices] 1. Monday: ① Data: China's total retail sales of consumer goods in April year-on-year; China's industrial added value above designated size in April year-on-year; Eurozone April CPI final value; US Conference Board leading indicator monthly rate in April. ② Events: Federal Reserve Williams, Jefferson, and Bostic delivered speeches; National Bureau of Statistics released a monthly report on residential sales prices in 70 large and medium-sized cities; State Council Information Office held a press conference on the operation of the national economy ; Shenzhen Stock Exchange held the 2025 Global Investor Conference in Shenzhen; Huang Renxun attended the Taipei International Computer Show and delivered a speech; Trump successively spoke with Putin, Zelensky and NATO member states; domestic refined oil will open a new round of price adjustment window . ③ Holidays: Canada's Toronto Stock Exchange was closed for one day due to Victoria Day. ④ Financial reports: Ali Health, Ali Pictures, Leapmotor, Ctrip.com 2. Tuesday: ① Data: China's one-year and five-year loan market benchmark rates to May 20 ; Germany's April PPI; Eurozone March seasonally adjusted current account; Canada's April CPI; Eurozone May consumer confidence index preliminary value. ② Events: CATL's listing in Hong Kong; Reserve Bank of Australia's interest rate decision and governor's press conference; G7 Finance Ministers and Central Bank Governors Meeting held until May 22. ② Financial reports: ZTO Express, Huazhu Group, Bilibili, Weibo, Vipshop. 3. Wednesday: ① Data: U.S. API and EIA crude oil inventories for the week ending May 16; EIA Cushing, Oklahoma crude oil, EIA strategic petroleum reserve inventories; UK April CPI, April Retail Price Index. ② Events: Federal Reserve Musallem, Bostic, Hammak, and Daly delivered speeches; NYMEX New York crude oil June futures moved positions and changed months; ③ Financial reports: Baozun E-Commerce, Baidu, and Xiaopeng Motors. 4. Thursday: ① Data: China's Swift RMB share in global payments in April; PMIs of many European countries and the United States in May; Germany's IFO business climate index in May; UK CBI industrial order difference in May; US initial claims for the week, annualized total number of existing home sales in April, and EIA natural gas inventory for the week. ② Events: Fed Barkin attended the "Fed Listening" event; the European Central Bank released the minutes of the April monetary policy meeting. ③ Financial report: Lenovo Group. 5. Friday: ① Data: UK Gfk Consumer Confidence Index in May; Japan's core CPI annual rate in April; Germany's first quarter unadjusted GDP annual rate final value; UK April seasonally adjusted retail sales monthly rate; Canada March retail sales monthly rate; US April new home sales annualized. ② Events: Fed's Williams delivered a keynote speech at the Monetary Policy Implementation Seminar. ③ Financial report: Tongcheng Travel. 6. Saturday: ① Data: Total number of oil rigs in the United States as of May 23.

JPMorgan Chase (JPM.N) CEO Jamie Dimon: People are extremely complacent about U.S. debt and trade policy.