December 13 (Tuesday)

Latest Morning Briefing Executive Summary: The Bubble in Everything Has Burst. Now What?
The bubble in everything has burst without dire consequences so far. Surprisingly, it has been a relatively smooth transition back to the Old Normal from the New Normal. Among the biggest bubbles to pop was in the bond market. The cryptocurrency calamity hasn’t turned into a contagion. The SPAC debacle has also been contained. There is still some air in the stock market bubble, but less than there was at the beginning of the year. Home prices may get supported by a shortage of inventory.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on December 12.

Markets
10-year Treasury yield drops below 3.5% after inflation reading comes in lighter than expected | C
Copper prices — traditionally a barometer for the global economy — are expected to soar next year | C

Central banks
Interest-Rate Paths for U.S., Europe Set to Diverge | W

US
CPI Report Shows U.S. Inflation Eased in November | W
CPI inflation November 2022: Prices rose less than expected in November, up 7.1% from a year ago | C
Supply-Chain Shortfalls Targeted by New Bill | W
Four-day workweek: How shortening the week could change office life | C

Europe
Europe Strikes Deal to Tax Imports Based on Greenhouse-Gas Emissions | W
Energy crisis: EU works on gas cap and contingency measures for next winter | C

China
China’s Zero-Covid Policy Is Ending, but Not Everyone Is Celebrating | W
China reportedly delays key economic meeting amid signs of surging infections | R

Geopolitics & trade
China brings WTO case against U.S. chip export restrictions | C
 
Industries & companies
Airlines: United Airlines places Boeing order for 100 Dreamliners | C
Pharma: Moderna’s mRNA Cancer Vaccine Shows Promise in Preliminary Study | W

Climate
Explainer: Could fusion energy help fight climate change? | R

Crypto
Sam Bankman-Fried ran FTX as fraud ‘from the start,’ SEC charges | C