Dr. Ed's Blog

September 12 (Monday)

Latest Morning Briefing Executive Summary: What’s The Matter With Productivity?
We aren’t giving up on our “Roaring 2020s” scenario. The idea is that labor shortages should trigger capital spending on technology that boosts productivity. The pandemic derailed that train over the first three years of the decade, exacerbating the chronic labor shortage and temporarily squashing productivity growth. We expect productivity growth to resume during H2 and strengthen to peak around 3.5%-4.0% within the next few years. … Boosting this rosy scenario: US manufacturers are spending more on productivity-enhancing tech as they expand domestic production capacity—which should continue as they move out of China.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 6.

Markets
Wall Street’s top analysts are bullish on these stocks amid an uncertain economy | C
Europe’s Unfolding Crises Could Impact U.S. Stocks. Here’s How. | BR
For Wall Street, a Strong Dollar Is Front and Center | W
Market Volatility Spells Opportunity for Options-Savvy Investors | BR
Why Is the Dollar So Strong? American Innovation | W
ESG on the edge: Controversy weighs on sustainable ETFs | C

Energy I
How Europe’s Energy Crisis Could Play Out | BR
How to deal with Europe’s energy crisis | E
Oil Prices Slump as Recession Fears Grow | W
Treasury Spells Out How Firms Can Comply With Russian Oil-Price Cap | W

Energy II
Korean nuclear fusion reactor achieves 100 million°C for 30 seconds | New Scientist
Elon Musk Slams Fusion, Says Future of Energy Is Wind and Solar | Futurism

Central banks
Quantitative Tightening Is About to Ramp Up. What It Means for Markets. | BR

US
Inflation Showed Signs of Easing in Several Industries in August | W
U.S. Heat Wave Hits Supermarkets’ Produce Sections | W

China
Will China’s economy ever overtake America’s? | E
Evergrande crisis deepens after lender seizes headquarters | FT

Geopolitics & trade
Xi to meet Putin in first trip outside China since COVID began | R
West weighs contentious anti-China move as U.N. rights council opens | R
Ukraine offensive ‘snowballs’ with fall of Russian stronghold | R
India’s Rice Export Ban to Further Strain Global Food Supplies | W

Industries & companies
Consumer discretionary: Amazon Buys Warehouse Robotics Company Cloostermans | W
Financials: PNC Financial Services Has Big Ambitions—and a 3.4% Dividend Yield | BR
Materials: Alcoa Has a Plan for Zero Emissions. Buy the Stock While It’s a Bargain. | BR
Retail: Should You Buy Target Stock? Yes, Its Problems Won’t Last Forever. | BR
Retail: Where Walmart, Amazon, Target are spending billions in slowing economy | C
Theme Parks: Everything we learned at Disney’s parks panel at the 2022 D23 Expo | C

Pandemic
Covid-19 Is Still Killing Hundreds of Americans Daily | W

September 10 (Saturday)

Latest Morning Briefing Executive Summary: Bad Times In Europe & China
European governments aren’t about to leave their people out in the cold after Russia suspended its gas deliveries to Germany indefinitely. Jackie examines plans they’ve pulled together to keep people warm, businesses open, and utilities financially viable. … Also: China has been fighting to vanquish Covid via strict lockdowns whenever and wherever the slippery foe appears. The government’s failure to rid the country of Covid is one problem leaders will want to keep swept under the rug when the Chinese Communist Party meets in mid-October. Another is a UN report shining a spotlight on China’s outrageous human rights abuses perpetrated against Uyghurs.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 6.

Markets
Dow closes more than 300 points higher; stocks snap 3-week Fed-induced slide | C
Forced Buying Puts a Price Floor Under Stocks Nobody Else Wants to Own | B

Credit
Municipal Bonds Suddenly Look Cheap. Some Are Tax Traps. | W
Buy US High-Yield Debt as Inflation Hedge, Nuveen’s Malik Says | B

Energy
European Governments Back Broad Intervention in Energy Markets | W
Russian oil price cap: G-7 tries to recruit countries | C
How a CEO Rescued a Big Bet on Big Oil; ‘There Were a Lot of Doubters’ | W

Central banks
Fed Officials Back Another Large Rate Increase | W
Fed’s Waller: need aggressive rate hikes now while economy can take it | R
How the Fed Screwed Up the Housing Market

US
Confused about the housing market? Here’s what’s happening | C
US Household Net Worth Falls Most on Record on Slump in Stocks | B
New Tax on Stock Buybacks Would Have Raised Over $8 Billion in 2021, Study Says | W

UK
Prince Charles became king after Queen Elizabeth II’s death. How will he rule the UK? | Vox
Queen Elizabeth’s death comes as a new economic era for UK begins | C

Geopolitics & trade
U.S. working with U.N. on Russia food, fertilizer export complaints | R
Ukraine’s Rapid Advance in East Puts Russian Forces on Defensive | W
France, Germany and Other EU Countries Pledge to Advance Minimum Tax | W
White House Weighs Order to Screen U.S. Investment in Tech in China, Other Countries | W
 
Industries & companies
Airlines: Democrats want probe of airline Covid bailouts over staff buyouts | C
Media: Summer Movie Season Fizzles Out, With Few Blockbusters to Count On This Fall | W

Climate
California Wildfires Force Evacuations, While Fire Threat in Oregon Causes Power Shutdowns | W

Beyond markets
New York declares polio state of emergency to boost vaccination rates | C

September 09 (Friday)

Latest Morning Briefing Executive Summary: Bad Times In Europe & China
European governments aren’t about to leave their people out in the cold after Russia suspended its gas deliveries to Germany indefinitely. Jackie examines plans they’ve pulled together to keep people warm, businesses open, and utilities financially viable. … Also: China has been fighting to vanquish Covid via strict lockdowns whenever and wherever the slippery foe appears. The government’s failure to rid the country of Covid is one problem leaders will want to keep swept under the rug when the Chinese Communist Party meets in mid-October. Another is a UN report shining a spotlight on China’s outrageous human rights abuses perpetrated against Uyghurs.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 6.

Markets
Stocks End Higher Amid New Fed Comments | W
Broad Declines Drag Bonds Into Rare Bear Market | W
 
Central banks
Fed’s Powell Affirms Need to Act Strongly to Fight Inflation | W
Powell vows to raise rates to fight inflation ‘until the job is done’ | R
Fed’s Powell: Fed’s two mandates not in conflict | R
Businesses Expect Economy to Lose More Steam, Fed’s Beige Book Says | W
ECB Raises Interest Rates by Historic 0.75 Point as Europe Stares at Recession | W
 
US
Mortgage Rates Hit 5.89%, Highest Level Since 2008 | W
Why We Expect Inflation to Fall in 2023 | Morningstar
Opinion: We could see slow economic growth for the rest of the decade | NN
Janet Yellen Renews Call for Tax Hikes on Rich, Social-Spending Boost | B
Yellen sees lower gas prices putting downward pressure on U.S. inflation | R
Yellen says Inflation Reduction Act, CHIPS Act rescue U.S. economy | R
 
China
China’s Lending Strategy in Emerging Markets Risks Prolonging Borrowers’ Pain | W
 
Geopolitics & trade
Exclusive: German economy ministry reviews measures to curb China business | R
N.Korea makes nuclear weapons policy ‘irreversible’ with new law – KCNA | R
Russian Billionaire Mikhail Fridman Offers $1 Billion to Ukraine in Hope of Sanctions Relief | W
 
Industries & companies
Autos: GM bets on electric Equinox to kick-start ‘massive adoption’ of EVs | R
 
Climate
Edison Warns Southern California Customers of Power Shutoff on Fire Risk | B
Wildfires Add New Threat to Escalate California’s Power Crisis | B
Companies Are Buying Large Numbers of Carbon Offsets That Don’t Cut Emissions | W
 
Beyond markets
Queen Elizabeth II Dies at 96 After 70 Years on the Throne | W
NASA repairing hydrogen leak to launch Artemis 1 mission in late Sept | R

September 08 (Thursday)

Latest Morning Briefing Executive Summary: Bad Times In Europe & China
European governments aren’t about to leave their people out in the cold after Russia suspended its gas deliveries to Germany indefinitely. Jackie examines plans they’ve pulled together to keep people warm, businesses open, and utilities financially viable. … Also: China has been fighting to vanquish Covid via strict lockdowns whenever and wherever the slippery foe appears. The government’s failure to rid the country of Covid is one problem leaders will want to keep swept under the rug when the Chinese Communist Party meets in mid-October. Another is a UN report shining a spotlight on China’s outrageous human rights abuses perpetrated against Uyghurs.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 6.

Markets
Dow closes more than 400 points higher, Nasdaq snaps 7-day slump as Wall Street shakes off rate hike concerns | C
Stocks Shrug Off Growth Concerns, Rise in Broad-Based Reversal | W
Stocks Set for Reprieve After Drop in Oil, Yields: Markets Wrap | B
Wall Street reaches four-week highs as bond yields drop | R

Central banks
Fed on Path for Another 0.75-Point Interest-Rate Lift After Powell’s Inflation Pledge | W
U.S. firms see tentative progress on inflation and labor supply, Fed says | R
Fed Vice Chair Brainard vows ‘we are in this for as long as it takes’ to stop inflation | C
New Fed banking chief targeting crypto and climate change as top priorities | C
Fed’s Top Banking Regulator Signals Tougher Merger Reviews, ‘Living Wills’ | W

US
Quiet Quitters Make Up Half the U.S. Workforce, Gallup Says | W
The Case for a Soft Landing: How High Inflation Could End Without Recession | W
It’s a Housing Slump, Not a Crisis | B
Gas Prices Can Rev Up Spending Again | W

China
Exports, the Engine of China’s Slowing Economy, Are Sputtering | W
How China Has Added to Its Influence Over the iPhone | N
China Puts Cement Shoes on Metals: Elements by David Fickling | B

Europe
Fast EU Deal on Fiscal Rules Would Cheer Markets, Gentiloni Says | B

Geopolitics & trade
EU plans to cap Russian gas price as Putin warns West of winter freeze | R
The chips are down: Putin scrambles for high-tech parts as his arsenal goes up in smoke | PO
Russia Destroyed Mariupol. Now It’s Using It for Propaganda. | W

Technology
The Supply Chain Broke. Robots Are Supposed to Help Fix It. | N

Corporate finance
China Evergrande’s Stake in Regional Bank Sold for $1.05 Billion | W
 
Crypto
‘Blockchain is bunk’: Crypto critics find their voice
El Salvador’s Bitcoin Experiment a Failure | National Review

Climate
California Gov. Newsom says prolonged extreme heat is a wake-up call on climate change | C
EXCLUSIVE: Former Greenpeace Founder Patrick Moore Says Climate Change Based on False Narratives
The energy historian who says rapid decarbonization is a fantasy | LA Times

September 07 (Wednesday)

Latest Morning Briefing Executive Summary: Can TINAC Survive A Global Recession?
Prospects for a global recession have risen in the wake of recent geopolitical developments. Global economic indicators have been showing signs of weakness too. … If the global economy sinks into a recession, will the US economy follow suit, as typically has happened in the past? Not necessarily this time. We still expect no more than a “rolling recession” that hits different sectors at different times without an economy-wide downturn. … Our rationale for recommending overweighting US stocks in global portfolios still holds—i.e., there is no alternative country (TINAC). … And: Joe clears up some confusion about Q2 earnings.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 6.

Markets
U.S. Stocks End Lower After Labor Day Weekend | W
U.S. Dollar Strength Lifts Americans’ Relative Spending Power | W
U.S. bonds: U.S. Treasury yields rise following strong economic data | C

US
Conflicting Surveys Paint Mixed Picture of Services Providers | W
California Power Grid Faces Biggest Blackout Risk of Year as Heat Wave Intensifies | W
Manchin Plan to Fast-Track Energy Projects Headed for Showdown | B

Europe
Energy crisis: Why has Russia cut off gas supplies to Europe? | C
The Dirty Job of Rationing Electricity and Gas: Elements by Javier Blas | B
Germany to keep two nuclear plants available as a backup, burn coal | C

China
A Slowing China Helps Rein In Inflation Around the World | W
China’s ESG Fund Investing Boom Follows Xi’s Political Agenda | B

Geopolitics & trade
Ukraine’s Zelenskiy ‘rings’ NYSE bell, seeks $400 bln in foreign investment | R

Industries & companies
Airlines: How airlines give you internet access at 35,000 feet — and why it still needs a lot of work | NN
 
Beyond markets
People who recently caught Covid can wait to get omicron booster | C
Covid omicron booster shots should better protect against infection, serious illness | C
U.S. Plans Shift to Annual Covid Shots as New Boosters Roll Out | W

September 06 (Tuesday)

Latest Morning Briefing Executive Summary: Back To The Old Normal?
Fed Chair Powell has put the kibosh on financial markets’ wishful thinking that the Fed will start easing monetary policy next year. How will the Fed—and investors—know when it has achieved optimal tightening, with monetary policy restrictive enough to tame inflation but not enough to touch off a recession? “Immaculate disinflation” has proven elusive in the past, but we think it’s possible today. A federal funds rate of 3.00%-4.00% might be the sweet spot, harkening back to the “Old Normal” before the 2008 financial crisis. … Also: Indicators suggest the broad economy is growing this quarter, though certain sectors aren’t. … And: Dr. Ed reviews “Candy” (+ + +).
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 29.

Markets
Stocks Could Have a Messy Fall. Time to Embrace the Risks. | BR
Emerging Market Bonds May Be Buying Opportunity | BR
The digital yuan offers China a way to dodge the dollar | E
U.S. Dollar Strength Lifts Americans’ Relative Spending Power | W
Oil producer group OPEC+ surprises energy markets with a small production cut | C
Gasoline prices are expected to continue to fall after Labor Day and some states could see below $3 | C

Central banks
The Fed Isn’t Moving the Stock Market, or the Price of Credit | FO

US I
The Labor Shortage Will Get Worse and May Last for Decades | BR
UPS, Chipotle, and Other Stocks That Could Thrive as the Labor Shortage Lingers | BR
Yes, the unemployment rate rose. Here’s why that’s good news | NN
Now Is the Most Rewarding Time to Switch Jobs in Years | W

US II
American states are now Petri dishes of polarization | E
Biden’s Student-Debt-Forgiveness Plan May Cost Up to $1 Trillion, Challenging Deficit Goals| W
Affordable-Housing Projects Derailed as Developers Struggle for Financing | W

Europe
Russia’s Nord Stream Pipeline Closure Lands Economic Blow Against Europe | W
Europe scrambles to protect citizens from sky-high energy prices | E
Macron: France, Germany to provide each other with gas, electricity, to weather crisis | R
Germany keeps two nuclear reactors on standby to weather gas crisis | R
Gazprom: off-line Nord Stream compressor station now deemed hazardous | R
Italy’s election and the war against corruption | E

China
China’s Economic Slump Bodes Ill for Birth Numbers | W
A Slowing China Helps Rein In Inflation Around the World | W
China Blinked on Public-Company Audits. It Won’t Happen Twice. | BR

Industries & companies
Materials: Column: European smelter closures fracture aluminum pricing | R
Retail: Buy Target Stock. The Retailer’s Problems Won’t Last Forever. | BR

Corporate finance
CVS to buy home health giant Signify Health for about $8 billion | C
Volkswagen to List Porsche in One of Biggest IPOs in Years | W

Beyond markets
Can We Save the Planet and Still Eat Meat?

September 03 (Saturday)

Latest Morning Briefing Executive Summary: China, Earnings & FedNow 
China’s government is mobilizing to shore up the country’s struggling, debt-laden economy. New initiatives will facilitate home-buying, guarantee the debt of select private developers, make low-interest loans to banks, and provide financial backing for infrastructure projects. More may be needed. … Industry analysts still expect S&P 500 companies to log respectable earnings growth this year and next despite having lowered their sights for many. Jackie examines how and why estimates have been changing for various sectors and industries. … And better late than never: FedNow brings the instantaneous financial transactions that other countries enjoy to the US.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 29.

Markets
Major stock averages slide for third week, Nasdaq posts six-day losing streak | C
Bond Yields Fall on Higher August Unemployment | W

Energy
Russia scraps gas pipeline reopening, stoking European fuel fears | R
Russia to Keep Nord Stream Pipeline Shut, Citing Mechanical Problems | W
Factbox: Europe’s alternatives if Russia shuts off gas supply | R

US I
August Jobs Report Shows Labor Market Has Cooled But Remains Solid | W
Wage Gains Ease as More Americans Join the Labor Force | W
The Americans Who Never Went Back to Work After the Pandemic | W
How ‘quiet quitting’ became the next phase of the Great Resignation | C
More home sellers drop their asking price as the housing market cools | C
Rising Mortgage Rates Complicate Decision on Buying Versus Renting | W

US II
Opinion: This is what will prevent stagflation from hitting the US economy | NN
1970s inflation: Historian Niall Ferguson has a warning for investors | C
Recession or Not, There Will Be Pain | Morningstar
Traveling for Labor Day? Expect Busier Airports, More Traffic Than Last Year | W

China
China’s Economy Won’t Overtake the U.S., Some Now Predict | W

Geopolitics & trade
U.S. approves potential $1.1 billion arms sale to Taiwan amid China tensions | R

Industries & companies
Airlines: Your Flight Is Canceled. See What Each Airline Is Supposed to Offer You. | W
Autos: Ford’s U.S. Sales Rose 27% in August on Strong EV Demand | W
Materials: Column: European smelter closures fracture aluminium pricing | R
Materials: This Remote Mine Could Foretell the Future of America’s Electric Car Industry | N
Utilities: Jackson Water Crisis Forces Cities to Confront Their Own Aging Infrastructure | W

Corporate finance
CVS Is in Advanced Talks to Buy Signify Health for Around $8 Billion | W
Greek yogurt maker Chobani pulls IPO amid listing slowdown | R

Technology
Latest U.S. Chip Curbs Deliver Setback to China’s AI Ambitions | W

Beyond markets
NASA Poised for Second Artemis Launch Attempt Saturday | W
White House Seeks $47.1 Billion to Fight Covid and Monkeypox, Aid Ukraine | W

September 02 (Friday)

Latest Morning Briefing Executive Summary: China, Earnings & FedNow 
China’s government is mobilizing to shore up the country’s struggling, debt-laden economy. New initiatives will facilitate home-buying, guarantee the debt of select private developers, make low-interest loans to banks, and provide financial backing for infrastructure projects. More may be needed. … Industry analysts still expect S&P 500 companies to log respectable earnings growth this year and next despite having lowered their sights for many. Jackie examines how and why estimates have been changing for various sectors and industries. … And better late than never: FedNow brings the instantaneous financial transactions that other countries enjoy to the US.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 29.

Markets
Dow, S&P 500 close higher to snap four-day losing streak and begin September | C
S&P 500 snaps four-session losing streak with payrolls on deck | R
Hopes for Fed Pivot Have Faded, Sapping Stocks’ Momentum | W
Man Group Warns of Contagion to European Firms From EM Defaults | B
As the U.S. Dollar Surges, American Buyers Splurge on European Homes | W
Gasoline Prices Extend Declines Into Labor Day Weekend | W

Central banks
US Jobs Data Have Potential to Push Fed Toward Third Jumbo Hike | B
Big Japan Short Redux Outside Tokyo Even as Locals Bet on BOJ | B
New Dallas Fed Chief Puts Inflation Fight on Front Burner | W

US
U.S. Jobless Claims Fall to Lowest Level in Two Months | W
Independent Voters Now Tilting Toward Democrats in Midterm Elections, WSJ Poll Finds | W
Mortgage Rates Rise to 5.66% | W

China
Chengdu locks down 21.2 million people as Chinese cities battle Covid-19 | C
In China, Some Cities Edge Into Covid-19 Lockdowns Ahead of Party Congress | W
Chinese Property Giants See Fortunes Diverge During Housing Crisis | B
Tech Companies Slowly Shift Production Away From China | N

Japan
Steel Price Hikes to Impact Japan’s Manufacturers as Costs Surge | B
 
Geopolitics & trade
U.N. says China may have committed crimes against humanity in Xinjiang | R
Xinjiang Rights Report Ratchets Up Standoff Between the U.S. and China | W
Ukraine Says Russia Is Using Cargo Ships to Ferry Weapons to the Black Sea | W
IAEA experts ‘not going anywhere’ after reaching Ukraine nuclear plant | R
Nvidia says U.S. government allows A.I. chip development in China | C

Industries & companies
Airlines: Service Is Slow. Luggage Is AWOL. Companies Struggle With an Influx of New Hires. | W
Autos: GM’s Driverless-Car Unit Recalls Software Used in Some Robotaxis | W
Energy: Amazon took solar rooftops offline last year after fires, explosions | C
Materials: Aluminum Buyer Novelis Excludes Russian Metal in Key Supply Deal | B
Materials: Column: European smelter closures fracture aluminium pricing | R
Media: GameStop meme stock movie ‘Dumb Money’ in the works with Seth Rogen, Pete Davidson | C

Corporate finance
Exxon, Shell sell California oil assets for $4 billion to IKAV | R

Beyond markets
CDC Panel Backs Moderna (MRNA), Pfizer (PFE) Covid Omicron Vaccine Boosters | B
Covid Boosters Targeting Omicron Backed by CDC Advisers | W
Reading and Math Scores Plummeted During Pandemic, New Data Show | W

September 01 (Thursday)

Latest Morning Briefing Executive Summary: China, Earnings & FedNow 
China’s government is mobilizing to shore up the country’s struggling, debt-laden economy. New initiatives will facilitate home-buying, guarantee the debt of select private developers, make low-interest loans to banks, and provide financial backing for infrastructure projects. More may be needed. … Industry analysts still expect S&P 500 companies to log respectable earnings growth this year and next despite having lowered their sights for many. Jackie examines how and why estimates have been changing for various sectors and industries. … And better late than never: FedNow brings the instantaneous financial transactions that other countries enjoy to the US.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 29.

Markets
Dow, S&P 500 fall for a fourth day, major averages end August with losses | C
Famed Investor Jeremy Grantham Warns of Super Bubble in Stocks as Rally Falters | B

Central banks
Fed’s instant payment service ‘FedNow’ set to launch by July 2023 | yahoo.com

Energy
Russia deepens Europe’s energy squeeze with new gas halt | R

US
California Dreamin’ —A No-Choice Nightmare That Benefits China | The Heritage Foundation
IRS is not hiring an ‘army’ of auditors, what’s really happening | C
U.S. Justice Dept says Trump team may have moved classified papers amid probe | R
 
Emerging
China’s dim prospects turn disastrous | The Hill (ampproject.org)
China’s Economic Woes Drag On With Factory Disruptions, Property Slump | W
China’s heat wave is creating havoc for electric vehicle drivers | MIT Technology Review
India’s GDP Jumps as Consumer Spending Revives, Covid Fears Ebb | W

Industries & companies
Media: Disney Explores Membership Program Like Amazon Prime to Offer Discounts and Perks | W
Retail: Walmart-owned Sam’s Club raises annual membership fee for first time in 9 years | C
Restaurants: Starbucks Is Rethinking Almost Everything, Including How to Make Frappuccinos | W

Technology
NASA orders five more astronaut missions from Musk’s SpaceX in $1.4 billion deal | R

Beyond markets
U.S. FDA green lights Omicron-targeted COVID boosters ahead of revaccination campaign | R
Anthony Fauci Warns of a Bad Flu Season Brewing as He Nears Office Exit | B

August  31 (Wednesday)

Latest Morning Briefing Executive Summary: Earnings Matter
Will the rolling recession—which we believe is occurring now in the US economy—steamroll corporate earnings growth? Our economic outlook suggests that earnings growth could turn negative, but not by much and not for long. … We think August’s M-PMI will be telling, suggesting that both this index and S&P 500 earnings growth are getting closer to bottoming. … And: Melissa looks under the hood of the auto manufacturing industry, still challenged globally by parts-supply problems and still short on inventory. … Also: A look at various factors driving rising EV sales.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 29.

Markets
Column: RIP Great Moderation, hello Great Volatility | R
Column: Diverging U.S. corn and soybean yields would be a rare outcome | R
 
Central banks
Powell Abandons Soft Landing Goal as He Seeks ‘Growth Recession’ | B
Fed’s Mester sees benchmark rate above 4% and no cuts at least through 2023 | C
Fed’s John Williams Says Rates Will Stay High for a While | W
Fed Gets New Path to Go Big as Job Openings, Confidence Surprise | B
Federal Reserve Quantitative Tightening Fallout Should Be Limited | B

Energy
Russia temporarily halts gas flows to Europe via Nord Stream 1 | C
Russia deepens Europe’s energy squeeze with new gas halt | R
Analysis: Full gas storage no fix for Europe’s winter energy crunch | R
Japan’s Kishida Says He Wants to Reduce Reliance on Nuclear Power as Much as Possible | W
Column: Saudi jawboning up crude oil prices contrasts with soft physical market | R

US
U.S. Job Openings Rose in July as Hiring Accelerated | W
Home-Price Growth Decelerated in June | W
Mortgage demand falls even further, as rates shoot back up to July highs | C
US Life Expectancy Falls as Covid Takes Their Toll on The Population | B
Women Not Having Kids Get Richer Than Men | B
Trump Mar-a-Lago raid: DOJ opposes special master request | C

Europe
Euro zone inflation hits another record of 9.1% as food and energy prices soar | C
Inflation Tops 9% in Eurozone, Piling Pressure on Policy Makers | W

China
China is set to convene a historic meeting on Oct. 16. Here’s what to expect | C
China’s True Elite

Geopolitics & trade
Biden Still Undecided on Chinese Tariffs, Commerce Secretary Says | W

Industries & companies
Communications services: Social-Media Firms Would Have to Consider Children’s Health Under Bill Passed by California Legislature | W

Corporate finance I
Bosch $200 million investment fuel cells South Carolina | C
Toyota says it will invest extra $2.5 billion in North Carolina plant | C
Toyota to Put Additional Billions of Dollars Into EV Batteries | W

Corporate finance II
Bed Bath & Beyond announces store closures, layoffs and new financing in push to fix struggling business | C
Buyback Tax Will Distort Capital Markets & Hurt Smaller Companies | NR

Technology
Autonomous delivery company Gatik wins new pilot program with Pitney Bowes in Dallas | C

Beyond markets
NASA to Try Artemis I Moon Launch Again on Saturday | W
Ukraine’s Overstretched Psychiatric Hospitals Face Wave of Traumatized Soldiers | W