December 14 (Wednesday)

Latest Morning Briefing Executive Summary: Disinflation?
Inflation peaked in June and continued to moderate in November. The Santa Claus rally should continue unless the Fed’s Grinches get in the way. …. Small business owners still facing labor shortages and raising wages and prices. …. S&P 500 forward revenues, earnings, and margins losing their mojo. And: What if home prices don’t fall much?
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on December 12.

Markets
Stocks close higher on cooler inflation report, notch second day of gains | C
Unpredictable 10-Year Treasury Yield Poses Puzzle for Investors, Fed | W

Central banks
Fed rate hike expected to be half a percentage point as central bank fights inflation | C
Slowing Inflation Could Intensify Fed Debate Over When to Stop Raising Rates | W

US
U.S. Inflation Eased in November, CPI Report Shows | W
Prices for Used Cars, Plane Tickets and Electricity Eased in November | W
Mortgage rates drop after CPI inflation report | C
Unhappy New Year: CBO Forecasts Poor Economy, Soaring Deficits in 2023 | The Heritage Foundation
Too Much Gloom and Doom? by Willem H. Buiter | PS

Europe
Europe Strikes Deal to Tax Imports Based on Greenhouse-Gas Emissions | W
Europe’s Energy Ministers Fail to Agree on Plan for Natural-Gas Price Curb | W

Geopolitics & trade
The supply chain that keeps tech flowing to Russia | R
Two Americans and five Russians charged with running a smuggling network to obtain military technology and ammunition for Russia | C

Industries & companies
Pharma: Moderna’s mRNA Cancer Vaccine Shows Promise in Preliminary Study | W
 
Technology
Nuclear fusion breakthrough: More power than used to create reaction | C
ChatGPT is a new AI chatbot that can answer questions and write essays | C

Crypto
Exclusive: How a secret software change allowed FTX to use client money | R
FTX executives spent $256 million on Bahamas real estate | C
 
Beyond markets
Opinion | The Great Delusion Behind Twitter | N