November 02 (Wednesday)
Latest Morning Briefing Executive Summary: On Powell, Inflation & Home Prices
After Fed Chair Powell’s press conference today, investors are bound to see more light at the end of the tightening tunnel. We’re hoping he’ll suggest that just two more 75bps turns of the federal-funds-rate screw—one announced today and another in December—may be tight enough. … Also: We assess the latest persistently high inflation data with an eye toward assessing whether our inflation forecast for the rest of this year is overly optimistic. … And: Housing prices are falling in the wake of rising mortgage rates. But we don’t see the market crashing as in 2007, Melissa explains. The downward drivers then and now are nothing alike.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on October 31.
Markets
Stocks finish lower as Wall Street braces for key Fed decision | C
China Markets Rally After Unconfirmed Social Posts on Reopening | B
Treasury: Series I bond rate is 6.89% through April 2023 | C
Central banks
Fed seen raising rates by three-quarters of a point, may slow pace ahead | C
Column: Fed may be alert to favoured yield curve alarm | R
Traders Expect Higher Interest Rates to Stay for Foreseeable Future | W
US
Food Prices Soar, and So Do Companies’ Profits | N
JOLTS September 2022 | C
Marcus vs Mortgage: High-Yield Savings Account Rates Beat Some Home Loans | B
Midterm Elections 2022: 5 Key Races That Could Impact Election Security | B
With deep recession coming, Biden prepares by blaming Republicans | P
Europe
Europe Braces for a Winter Without Russian Gas | N
China
Auditor exodus at embattled China property firms triggers governance concerns | R
Emerging
Brazil protests escalate, disrupting fuel, grain and meat industries | R
Brazil President Jair Bolsonaro Pledges to Respect Constitution After Election Loss | W
Industries & companies
Autos: Toyota cuts output target amid chip crunch as profit tumbles 25% | R
Financials: U.S. banks processed about $1.2 billion in ransomware payments in 2021 | C
Media: Elon Musk Wants More Paying Twitter Users, Hinting at $8 a Month for Verified Accounts | W
Pharma: Pfizer CEO reveals growth plan as company faces up to $18 billion revenue hit | C
Corporate finance
DuPont pulls the plug on $5.2 bln buyout of Rogers on clearance issues | R
China Evergrande unit gets notice for $4.48 bln loan from Shengjing Bank | R
Beyond markets
Taylor Swift holds top 10 spots in Billboard Hot 100, announces tour | C
