October 01 (Saturday)
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
Dow tumbles 500 points on Friday to end September down nearly 9% | C
Stocks Finish a Losing Week, Month and Quarter | W
Bonds May Be Having Their Worst Year Yet | N
Central banks
Fed’s Lael Brainard Warns on Inflation, Financial Stability Risks | W
PCE inflation August 2022: Inflation accelerated even more than expected in August | C
Energy
Nord Stream gas ‘sabotage’: who’s being blamed and why? | R
U.S. has much to gain from Nord Stream damage, Russia says at U.N. | R
Nord Stream rupture may mark biggest single methane release ever recorded -UN | R
Exxon CEO Warns Biden Administration Against Limiting Fuel Exports | W
US
U.S. Consumers Boosted August Spending as High Inflation Spread | W
U.S. consumers spurn cars, couches and cruises, results show | R
Underlying Inflation Gained Steam in August | W
Why are ad sales slumping before the economy slumps? – Vox
Fast Food Chains Raise Millions to Oppose California Wage Law | W
House Approves Stopgap Funding Bill With Ukraine Aid | W
Europe
Eurozone Inflation Hits Record 10% Amid Energy Crunch | W
EU Approves Sweeping Energy-Market Intervention | W
S&P cuts UK rating outlook after tax cut plan | R
Geopolitics & trade
Russia Announces Annexation of Four Regions of Ukraine | W
U.S. Dismisses Annexation of Ukraine Regions and Imposes Sanctions on Russian Elites | W
U.S., allies need to be ‘concerned’ about attacks on Western infrastructure | R
North Korea fires ballistic missiles, marking fourth in a week | C
Industries & companies
Airlines: United Airlines to Suspend Operations at JFK at End of October | W
Autos: Electric and autonomous vehicle ETF falls 15% in September | C
Communications services: Facebook scrambles to escape death spiral as users flee, sales drop | C
Energy: Lithium-Ion Battery Inventor Introduces New Technology for Fast-Charging, Noncombustible Batteries – UT News | utexas.edu
Tech: Smart glasses from Amazon, Meta, and Snap are just the start | qz.com
Technology
Elon Musk Unveils Humanoid Robot Optimus at Tesla’s AI Day | W
Climate
Biden: Destruction from Hurricane Ian likely to be among the worst in U.S. history | R
Drought in U.S. West Leads Farmers to Look Elsewhere for Revenue | W
