November 29 (Tuesday)
Latest Morning Briefing Executive Summary: Anxious Index
If the economy is in for a hard landing next year, it would be the most widely anticipated recession ever. The Philly Fed’s survey of forecasters, the WSJ’s survey of economists, and even the Misery Index that reflects the sum of unemployment and inflation rates point to a recession. … But we think this time is different. There’s been no broad-based credit crunch, liquidity is ample, consumer incomes are growing, multi-family housing remains strong, capital spending does too, and fiscal stimulus has been gushing. Real GDP shouldn’t contract in such an environment but grow, slowly but surely. We’re in the soft-landing camp.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on November 28.
Markets
Dow tumbles 500 points but could actually end the year in the green | NN
Stocks close lower, Dow drops nearly 500 points as supply chain concerns mount amid protests in China | C
Central banks
Fed has ‘a ways to go’ on interest rate hikes, Bullard says | R
Fed’s Williams Says Inflation Fight Could Last Into 2024 | W
Resolute and Mindful: The Path to Price Stability | FRBSF
US
400 groups urge U.S. lawmakers to take ‘immediate steps’ to block potential rail strike | R
Job Cuts in Tech and Banking Don’t Mean Mass Layoffs in Looming Global Recession | B
Joe Biden wastes billions on COVID boosters vaccines | P
China
China Clamps Down on Protesters Against Zero-Covid Policies | W
Chinese Protests Put Xi Jinping in a Bind | W
Protests against Covid controls erupt across China | C
Geopolitics & trade
White House Says Chinese Have a Right to Peacefully Protest | W
Russia Cancels Arms-Control Talks, U.S. Says | W
Industries & companies
Media: Elon Musk claims Apple has threatened to remove the Twitter app | C
Retail: Returns Are the Retail Industry’s Quietly Mounting Logistics Problem | W
Tech: Exclusive: Microsoft likely to offer EU concessions soon in Activision deal -sources | R
Crypto
BlockFi Bankruptcy: More Crypto Trader Funds Trapped After FTX Collapse | B
How FTX ‘death spiral’ spelled doom for BlockFi, according to filing | C
FTX: The Enron case on steroids, fueled by woke capitalism | The Hill
Corporate finance
Shell to Buy Biogas Producer in $2 Billion Deal | W
Climate
U.S. warns California cities possible water cuts in fourth dry year | C
Hawaii’s Mauna Loa Volcano Is Erupting for the First Time Since 1984 | W
Idealab, Heliogen founder Bill Gross sold solar energy kits in 1973 | C
ESG
Sign of the times: BlackRock closes ESG fund due to lack of interest, amid poor performance – Citywire | Twitter
Populist House Republicans Picking a Fight With US Business Over ‘Woke Capitalism’ | R
