Macro Briefing: 9 August 2023

* US set to ban some private-equity and venture-capital investments in China
* Moody’s says it may cut credit ratings for six big US banks
* Economists expect another month of slowing inflation in July
* S&P will end ranking companies’ environmental, social and governance risks
* US trade deficit narrows in June via pullback in imports
* China consumer inflation turns negative in July for first time since 2020:

Crude oil trades near a 9-month high, based on the US benchmark WTIC. Reuters reports that prices for the commodity rose “as tighter supply arising from output cuts by Saudi Arabia and Russia offset concerns over slow demand from top crude importer China and a report showing rising US crude inventories.”