October 25 (Tuesday)
Latest Morning Briefing Executive Summary: Your Wish Is Our Command
Our Monday webinars often don’t allow time to answer all your questions. So today’s Morning Briefing is devoted to a few recent ones. … We don’t expect much economic impact when the drawdown of the SPR ends, as we don’t foresee gasoline prices spiking as a result since tapping the SPR didn’t contribute much to the decline in prices. … Also: We counter our skeptics who expect a rampant recession, explaining why we see greater odds (60%) that the gently rolling recession already underway will continue. … And: The strong dollar should peak when monetary policymakers’ hawkishness does, to the relief of US companies with foreign-derived sales and earnings.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on October 25.
Markets
U.S. yields climb as hawkish Fed concerns outweigh weaker economic data | R
Shares in Chinese Companies Crash After Xi Jinping Stacks Party With Allies | W
Column: Oil investors on defensive as recession forces intensify | R
Charts suggest the U.S. dollar could be peaking, Jim Cramer says | C
Global
Global Economic Growth Is Weighed Down by Inflation, Rising Interest Rates | W
Energy
President Biden forcefully responds to Saudis on oil | The Hill
Biden’s SPR follies will hurt Americans and damage our national security | P
Factbox: How is Germany replacing Russian gas? | R
The Hidden Corner of the Energy Market Where Russian Exports to Europe Are Booming | W
US
The economy may be in better shape than you think…for now | NN
What the state of the U.S. economy means for the midterm elections | The Week
As They Wholly Redefine ‘Inflation,’ Republicans Hand Dems the Tools to Shoot Down Tax Cuts | FO
Inflation is dominant topic on earnings calls. What execs are saying | C
Opinion | The Way Los Angeles Is Trying to Solve Homelessness Is ‘Absolutely Insane’ | N
Mortgages Sold to Fannie, Freddie Should Use More Than FICO Scores, Regulator Says | W
Europe
Rishi Sunak to be Britain’s new prime minister as rival Penny Mordaunt drops out | C
Industries & companies
Autos: Tesla Cuts Prices in China as Costs Fall, Competition Heats Up | W
Financials: Banks Are Offering 4.5% CDs—Just Not to Regular Customers | W
Tech: Intel CEO Calls New U.S. Restrictions on Chip Exports to China Inevitable | W
Geopolitics & trade
Russia could plan ‘dirty bomb’ pretext, Western countries say | R
How Wikipedia is documenting suspicious Russian oligarch deaths. | slate.com
Chinese intelligence officers charged in Huawei prosecution obstruction | C
Beyond markets
U.S. student test results show toll of pandemic lockdowns on learning | R
