January 17 (Tuesday)
Latest Morning Briefing Executive Summary: Inflation: Persistent, Transitory, or Both?
Consensus economic views seem to be mostly pessimistic. Big bank CEOs are preparing for a mild recession. Americans are skittish about a downturn, most economists project a recession, and lots of investment strategists remain bearish. But not us: We don’t foresee recessions this year in the US, Europe, or China. And we think 2023 will be an up year for the stock market. … Also: Goods inflation is proving transitory. Services is less so, hiked by unusually high rent inflation. And: a closer look at the Fed’s core services ex housing costs CPI. … Dr. Ed’s review of “The Banshees of Inisherin” (+).
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 9.
Markets
Bright Start to Year for Bonds Eases Market Pressures | W
Central banks
Central-Bank Digital Currencies Are Coming—Whether Countries Are Ready or Not | W
Global
IMF says fragmentation could cost global economy up to 7% of GDP | C
IMF Warns Unraveling Economic Ties Could Shrink Global Output | W
Globalization Isn’t Dead. But It’s Changing. | W
Richest 1% amassed almost two-thirds of new wealth created since 2020: Oxfam | C
Davos
Davos Latest News: CEOs, Economists Worry Global Recession Looms as Davos Begins | B
Germany’s Scholz only G7 leader set to attend Davos | C
World Economic Forum: Manchin & Sinema attend Davos luncheon with CEOs | C
Energy
Russian gas will eventually return to Europe as nations ‘forgive and forget,’ Qatari energy minister says | C
Analysis: Russia’s falling oil revenues could create vicious circle for budget, rouble | R
Russia’s Energy Clout Is Waning, Weakening Its Global Influence | W
Exxon set to order 5th Guyana oil vessel, sizing up more blocks | R
US
We Have a Too-Much-Federal-Revenue Problem, Not a Looming ‘Debt Crisis’ | FO
The housing revolution brewing in 2023 | The Hill
Opinion | How ChatGPT Hijacks Democracy | N
China
As China reopens and data surprises, economists are starting to get less gloomy | C
China Needs to Own This Economic Recovery | B
Morning Bid: China’s Q4 data dump | R
China should set aside political issues on vaccine imports, CEO says | C
Geopolitics & trade
China’s Wolf Warriors Fall Silent, But Remain Ready When Needed | B
Yellen, Top Chinese Official to Meet, Try to Smooth Economic Ties | W
Saudi Arabia can ‘bridge the gap’ between the U.S. and China, finance minister says | C
Visa, Mastercard May Be Allowed a Share of India’s Online Payments | B
Siemens signs 3 bln eur train deal in India | R
TikTok Tries to Win Allies in the U.S. With More Transparency | W
Industries & companies
Autos: Should I Buy or Lease a Car or Truck in 2023? | B
Autos: EVs Made Up 10% of All New Cars Sold Last Year | W
Retail: Shopper Rebellion Against Higher Prices Helps Slow Inflation | W
Climate
The SEC’s new climate demands won’t fix the climate | P
Crypto
Why is the bitcoin (BTC) price rallying in January 2023? | C
Japan Pushes Global Counterparts to Regulate Crypto Like Banks | B
Beyond markets
LeBron James Becomes 2nd NBA Player to Score 38,000 Career Points | B
Exercise Helps Blunt the Effects of Covid-19, Study Suggests | W
