September 28 (Wednesday)
Latest Morning Briefing Executive Summary: Recessions Here & There
The Fed is hawkish, investors are bearish, and now industry analysts are cutting their earnings estimates after FedEx’s recent warning about macroeconomic trends. … The latest economic indicators still suggest a growth recession is underway in the US. … Over in Europe, economic prospects are dimming as the daylight hours shorten, with no gas likely from Russia this winter. Dour business sentiment in Germany suggests a broad-based recession there. … With debt limits for EU member countries suspended for another year, we expect governments to make plenty of investments, especially in digital and energy areas.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 26.
Markets
Dow Slips Again After Entering Bear Market | W
Treasury 10-Year Yields Rise Above 4% for First Time Since 2010 | B
Strong Dollar Is Good for the US but Bad for the World | N
Exclusive: China prepares to tweak yuan fixing process to slow its fall -source | R
Column: Copper price slump brings Chinese buyers out in force | R
Central banks
Fed Chair Powell warned of ‘pain’ to come. Seniors on fixed incomes are already feeling it | NN
Kashkari Says Fed Needs to Keep Tightening Until There’s Compelling Evidence of Declining Inflation | W
Fed’s Daly: Do not want to tip economy into downturn | C
US
US Home Prices Fall: Case-Shiller 20-City Index Posts First Decline Since 2012 | B
July S&P Case-Shiller Index: Home prices cooled at the fastest rate in index history | C
Home Prices Suffer First Monthly Decline in Years | W
Stopgap Funding Bill Includes $12.3 Billion in New Ukraine Aid | W
Why is fiscal responsibility not discussed anymore? | The Hill
Geopolitics & trade
EU sees sabotage of Nord Stream, warns against attacks on ‘active infrastructure’ | R
Ukraine ‘sham’ referendum results point to Russia annexation | R
Industries & companies
Autos: EV Tax Credits to Spur More Vehicle Sales Are Entering a Critical Phase | W
Autos: Ford unveils new F-Series Super Duty trucks | C
Financials: Wall Street to Pay $1.8 Billion in Fines Over Traders’ Use of Banned Messaging Apps | W
Beyond markets
Opinion | Do Not Bring Your ‘Whole Self’ to Work | N
Cuba entirely without power after Hurricane Ian | R
Teacher, Staff Shortages Reported by About Half of Schools, Survey Finds | W
