September 13 (Tuesday)

Latest Morning Briefing Executive Summary: Keeping Up With The Joneses
Q2 GDP revisions may well show that the US economy was not in a recession during H1 after all. If so, we have the consumer to thank. Consumer spending has held up well this year despite depressed sentiment and inflation-eroded purchasing power. But purchasing power soon should get a shot in the arm as wage inflation starts outpacing price inflation. … Also: A look at how much the average US household spends and on what. … News flash: “The Joneses” have been spending as though they’ve never been better off—because they haven’t! Inflation-adjusted consumption per household has been running at a record high.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 6.

Markets
US Inflation Data Will Determine If Stock Rally Continues | B
Inflation ‘collapse’ will spark big stock market gains: Credit Suisse | C
JPMorgan slashes EM corporate debt issuance forecast by a third | R

Commodities & currencies
Oil Extends Advance as Weaker US Dollar Offsets Demand Concerns | B
U.S. emergency oil reserves tumble to lowest since 1984 | R
U.S. Gasoline Prices Are Down 13 Weeks in a Row | W

Central banks
NY Fed Says Consumers Saw in August Steep Declines in Future Inflation | W
Falling gas prices are raising hopes that inflation is slowing, New York Fed survey shows | C
Fed is likely to pause by year end, says Evercore’s Julian Emanuel | C
Earliest BOJ Shift May Come in Mid-2023, Ex-Board Member Says | B

US
Sliding Earnings Forecasts Pose Next Test for Markets | W
World’s Hottest Housing Markets Are Down All Over as Interest Rates Hike | B
Guaranteed Income Programs Spring Up City by City | N

Industries & companies
Financials: Goldman Sachs to kick off Wall Street layoff season with hundreds of job cuts this month | C
Restaurants: Starbucks to unveil ‘reinvention’ strategy at investor day on Tuesday | C
Tech: Apple iOS 16 released: Here’s what’s new and how to get it | C
Travel: Expedia CEO: ‘Business travel is back’ true to my pandemic prediction | C

Technology
Assembly OSM makes pre-fab high rises like Boeing makes airplanes | C

Pandemic
Covid-19 Illnesses Are Keeping at Least 500,000 Workers Out of U.S. Labor Force, Study Says | W