October 24 (Monday)
Latest Morning Briefing Executive Summary: The Great Monetary Policy Reversal
Both the bearish and bullish cases for the stock market currently boil down to how the economy responds to the tectonic monetary policy adjustment from unconventionally ultra-easy to conventionally tight, a.k.a. “The Great Monetary Policy Reversal.” … We describe both cases, pointing out that bullish could morph into bearish if services inflation doesn’t abate. We’re in the minority as glass-half-full bulls, counting on a muted rolling recession, with rolling inflation, passing through the economy and out. … Also: Fed officials may be dialing back their hawkishness, which would support the bullish case. We think monetary policy is decidedly restrictive now already. … And: Midterm elections could energize Santa Claus rally. … Plus: Dr Ed reviews “Eiffel” (+).
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on October 17.
Markets
Dollar see saws on suspected yen intervention, shares rally | R
China’s Yuan Is Weakening Against the Dollar. It’s Easy to Misread Why. | BR
Palladium Is Outshining Gold and Silver. Why Its Price Could Keep Rising. | BR
Central banks
What CEOs Are Saying: The Fed ‘Should Look Out the Front Windshield’ | W
Even super-tight policy is not bringing down prices | E
Higher Interest Rates Can Take a Long Time to Bring Down Inflation | W
Energy & climate
France’s Nuclear Reactors Malfunction as Energy Crisis Bites | W
India’s next green revolution | E
Buy BP and Exxon Stock. They Have a Surprisingly Green Future. | BR
US
Early Earnings Reports Worry Investors Already Battered by Stock Selloff | W
A global house-price slump is coming | E
Companies Take Different Strategies to Navigate High Inflation | W
U.S. cities where starter homes are affordable | C
Europe
Welcome to Britaly | E
China
China reports third-quarter GDP grew by 3.9%, beating expectations | C
China Economy Shows Mixed Recovery as Industrial Activity Climbs | B
Xi Jinping leaves no doubt who is in charge of China | E
Xi Jinping has no interest in succession planning | E
China’s Xi Claims Third Term as Communist Party Leader | W
China names Xi Jinping loyalists for core leadership group | C
Will the Chinese of tomorrow live like the Spaniards of today? | E
Geopolitics & trade
Russia hits Ukraine homes, evacuates Kherson, warns of escalation | C
Two Koreas exchange warning shots near maritime border amid tensions | C
Industries & companies
Autos: Tesla Stock Could Rebound in 3 Months. Here’s What it Would Take. | BR
Financials: Big Banks Can Weather a Recession. Here Are the Top Stocks to Buy. | BR
Media: Netflix experiments with Knives Out sequel, but sticks with limited theater runs | C
Tech: How U.S. Uses Supply Chain Sway to Throttle China’s Chip Development | W
