October 26 (Wednesday)

Latest Morning Briefing Executive Summary: ECB On Thursday, Inflation On Friday
ECB hawks will be squawking at their meeting on Thursday. Fed hawks will be all over the critical US inflation data that comes out on Friday: The Employment Cost Index may suggest a peaking of wage inflation, and September’s PCED may reflect a declining headline rate (albeit rising core rate, as did September’s CPI, due to services inflation). Today, we examine the significance of each. … Also: We drill down to inflation within services industries, where the worst of it now roosts. … And: Once again, the ECB is on a mission and vowing to “do whatever it takes” to achieve it. This time, the goal is smothering Europe’s inflation fire even if GDP is dampened in the process.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on October 25.

Markets
The bear market blues: a diagnosis for our times | R
Opinion | Why OPEC Is Cutting Oil Production (and Why There’s Not Much the U.S. Can Do About It) | N

Central banks
Fed’s Powell, on eve of next rate hike, urged to protect jobs | R
The Age of Inflation: Easy Money, Hard Choices

Global
Global economy approaching a recession, central banks unchained: Reuters poll | R

US
Leading Economic Index: What it is, why it’s flashing a recession warning | C
A ‘catastrophe’ is coming for economy: Labor Secretary Marty Walsh | C
Home prices cooled at a record pace in August, S&P Case-Shiller says | C
Poor report cards at U.S. companies fan recession fears | R
Surging Rents Push More Americans to Live With Roommates or Parents | W
Health-Insurance Inflation Is Poised to Drop Sharply | W
Steering the conversation toward the economy could actually help Democrats | The Hill

China
Fire Sale! China’s “Warren Buffett” Races To Sell Assets | FO

Europe
New PM Rishi Sunak pledges to lead Britain out of economic crisis | R

Geopolitics & trade
Russian Oligarchs Obscure Their Wealth Through Secretive Isle of Man Network | W
 
Industries & companies
Airlines: Airlines have the passengers. Now they need the planes | C
Media: Exclusive: Twitter is losing its most active users, internal documents show | R

Corporate finance
Intel Prices Widely Anticipated IPO for Self-Driving Car Unit Mobileye | W

Covid
Men Died From Covid-19 at Much Higher Rate Than Women in Pandemic’s First Year | W
People who had mild Covid had increased risk of blood clots: UK study | C

Beyond markets
Remote work isn’t going away. What’s happening to extra office space? | Vox