China CPI, retail sales, Japan GDP

China has reportedly begun plans to sell one trillion yuan ($138.24 billion) of ultra-long-term bonds, according to reports by the Financial Times and Reuters.

The Financial Times said that the People’s Bank of China “has asked brokers for advice on pricing the sale of the first batch of the sovereign bonds.”

Meanwhile, Reuters said the bonds will be issued from May 17, citing sources that said there would be 300 billion yuan worth of 20-year bonds, 600 billion yuan worth of 30-year bonds and 100 billion worth of 50-year bonds.

These ultra long term bonds were announced in March, and are designed to fund major projects aligned with national strategies.

These bonds have only been issued thrice before, during the Asian Financial Crisis in 1998, for the capitalization of China Investment Corporation in 2007 and during the Covid-19 pandemic in 2020.

— Lim Hui Jie

The Australian government expects inflation to be in the Reserve Bank of Australia’s 2%-3% target range by the end of 2024, Reuters reported.

“We’re making progress in the fight against inflation, but it’s not mission accomplished because people are still under the pump and that’s why inflation’s a big focus of the Budget,” said Jim Chalmers, Treasurer of Australia in a media interview on Sunday.

Australia’s government is set to announce the federal budget on Tuesday.

— Shreyashi Sanyal, Reuters

Consumer prices in China rose at a faster pace than expected, with the consumer price index in April recording a 0.3% increase year-on-year, data from the National Bureau of Statistics on Saturday showed.

This was higher than the 0.2% forecast by a Reuters poll of economists, and more than the 0.1% rise seen in March.

Separately, China’s producer price index fell 2.5% compared to April last year, compared to a 2.8% decline in the previous month.

— Lim Hui Jie

A global company specializing in tank facilities and refueling technologies could see its stock price soar by as much as 140% over the next 12 months, according to one analyst.

The company’s business model assumes buses, industrial trucks, and trains will likely use hydrogen in the future, rather than mass-market cars, which are now primarily transitioning towards electric power.

The analyst believes it’s perfectly positioned to capture the rapid rise in new hydrogen refueling stations being built over the medium term.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Chipmaker Nvidia has dominated headlines over the past year, especially after its shares logged an astronomical 240% rise in 2023.

Its popularity shows little sign of abating, and although the stock was flat last week, it is still up by nearly 80% over the year to date.

The substantial rise in Nvidia’s share price has, however, raised questions about whether those not already invested should buy the stock now, or wait to see if its price drops.

CNBC Pro spoke to two fund managers who have differing opinions and subscribers can read more here.

— Amala Balakrishner

Goldman Sachs, the largest investment bank in the U.S., touched a record $458.75 on Friday before ending the week 3.8% higher.

Goldman has now risen for four straight weeks, climbing almost 17% during that span and single-handedly adding 431 points to the Dow Jones Industrial Average during the same period.

Looked at another way, Goldman Sachs has accounted for some 31% of the entire 1,405-point gain in the Dow Industrials over the past four weeks.

— Scott Schnipper

Federal Reserve regional presidents Neel Kashkari of Minneapolis and Austan Goolsbee of…