September 30 (Friday)

Latest Morning Briefing Executive Summary: Troubled Times In The UK & China
In the UK, fiscal and monetary policy are at odds. Massive tax cuts and new spending programs will boost government debt—aggravating inflation even as the BOE is trying to subdue it. Bond Vigilantes clearly disapprove. … In China, the real estate sector is in shambles, and the government’s investments abroad are going belly up. A messy debt restructuring looks likely. The PBOC is hustling to prop up both the falling yuan and the weakening economy, introducing new rules to discourage shorting the currency and easing monetary policy at a time when other central banks are tightening.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 26.

Markets
Stocks Close Lower in Volatile Day as Treasury Yields Resume Climb | W
Even as Oil Prices Ease, U.S. Keeps Tapping Strategic Reserve | N
Investors Fear Bond-Market Turmoil Is Entering a New Phase | W
 
Central banks & currencies
Fed policymakers press ahead with inflation fight, even with markets in turmoil | R
This ‘trifecta’ needs to see dampening inflation for the Fed to stop raising rates | C
Japan to confirm size of yen-buying intervention, eyes on size of war-chest | R

Europe energy
Russia says Nord Stream likely hit by state-backed ‘terrorism’ | R

US
U.S. Economy Weaker Than Thought in Year’s First Half, by One Measure | N
U.S. Jobless Claims Hit Lowest Level in Five Months | W
Why Are Companies Still Hiring When GDP Is Shrinking? | W
Mortgage Rates Rise to 6.7%, Highest Since 2007 | W
Some federal student loan borrowers cannot consolidate for forgiveness | C

China
China’s ‘Absurd’ Covid Propaganda Stirs Rebellion | N

Geopolitics & trade
Putin to host Kremlin ceremony annexing parts of Ukraine | R

Industries & companies
Autos: Toyota CEO doubles down on EV strategy amid criticism it’s not moving fast enough | C
Pharma: FDA approves controversial new drug designed to slow the progression of ALS | C
Retail: How to make the most of Amazon’s ‘Prime Day’ and Target’s ‘Deal Days’ | C
Tech: Apple sparks tech sell-off; Alphabet, Microsoft hit 52-week lows | C

Climate
New York State to Ban Sale of Gasoline-Powered Vehicles by 2035 | W