June 15 (Wednesday)
Latest Morning Briefing Executive Summary: It’s Fed Day!
Now that May’s CPI report has dashed hopes that inflation has peaked, it’s clear to investors that tethering inflation will take more aggressive tightening by the Fed. Today we will find out if the FOMC has decided to put more muscle into the fight. Will Powell show the same conviction to stay the course as his predecessor Volcker did decades ago? This may be Jerome Powell’s Volcker Moment. … Also: We look at what various Fed officials have said recently about the battle against inflation. … And: Tuesday’s inflation numbers mostly showed that inflation isn’t getting worse, but it isn’t getting better either.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 13.
Markets
S&P 500 falls for a fifth day, slips deeper into bear market territory ahead of Fed decision | C
U.S. bonds: 10-year Treasury yield in focus ahead of Fed meeting | C
U.S. to sell up to 45 mln bbls oil from reserve as part of historic release | R
Central banks
Former New York Fed Chief Dudley Expects 0.75-Point Rate Rise This Week | W
US
Analysis: U.S. stocks’ bear market growl could beckon recession | R
30-year mortgage rate surges to 6.28%, up from 5.5% just a week ago | C
Opinion: 3 signs the labor market isn’t as great as it looks – CNN
China
Beijing Probes Bar Staff Linked to Covid-19 Outbreak, as Cases Spread | W
Geopolitics & trade
Biden touts grain silos on Ukraine border to help exports; Kyiv wants ports open | R
U.S. and partners enter pact to secure critical minerals like lithium | R
Biden to meet with Saudi crown prince despite ‘pariah’ pledge | R
Biden Weighs Ending Some China Tariffs Soon in Response to Inflation | W
Industries & companies
Airlines: FAA, airlines scramble to reduce summer travel delays | C
Energy: Natural gas plummets as Freeport delays facility restart following explosion | C
Industrials: Caterpillar to Move Global Headquarters to Texas From Illinois | W
Media: Netflix considers ads, password sharing crackdown, live sports | C
Climate & sustainability
Texas power demand breaks record as severe heat wave hits the state | C
Plan to Label Gas, Nuclear Energy as Sustainable Stumbles in Europe | W
Beyond markets
Baby Formula Shortage Spurs Stockpiling, Data Show | W
