February 01 (Wednesday)
Latest Morning Briefing Executive Summary: Peak Hawkishness?
It’s almost a given that the FOMC will decide today to ratchet up the federal funds rate by another 25bps. Less certain are how hawkish FOMC members will sound discussing the future course of monetary policy—starting with Fed Chair Powell today—and how much their words may perturb financial markets. But since the Fed remains ever “data dependent,” we can gain insight into their thinking by examining the recent data releases that are likely to affect it. … Also: Improving global growth prospects are igniting commodities markets, especially for gold, copper, and other metals. Melissa takes a look.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 30.
Markets
Investors Shrug Off Weak Earnings Reports as Stocks Rebound to Start Year | W
Iron ore prices could rally as one leading producer remains reluctant to share, analyst says | C
Gold demand surged to an 11-year high in 2022 on ‘colossal’ central bank buying | C
Central banks
Central banks have been fighting a war on inflation. They’re not done yet | NN
Cooler Pay Gains Add to Debate on When Fed Might Pause Rate Hikes | W
US
Wall Street Is Losing Out to Amateur Buyers in the Housing Slump | B
Home Prices Fell in November for Fifth Straight Month | W
Mortgage demand took a big step back last week, even after interest rates fell further | C
Private payroll growth slowed to 106,000 in January as weather hit hiring, ADP says | C
Nikki Haley Plans to Enter Race for 2024 Republican Presidential Nomination | W
Donald Trump’s 2024 Campaign Fundraising Starts Slowly | W
Europe
Eurozone Inflation Eases for Third Month as ECB Rate Rises Bite | W
EU Sets Out Options to Compete With U.S. Green Subsidies | W
Geopolitics & trade
In the rush to end globalization, we’re missing critical points | The Hill
Industries & companies
Energy: BP’s CEO Plays Down Renewables Push as Returns Lag | W
Technology
AI advances enabled by our innovative, laissez-faire economic system | Washington Times
Google is asking employees to test potential ChatGPT competitors, including a chatbot called ‘Apprentice Bard’ | C
Climate
Colorado River deadline passes with no deal on voluntary water cuts | C
Deadly ice storm rages in Texas, causing travel chaos and outages | C
Beyond markets
Adani vs. Hindenburg: How Asia’s richest man lost his crown in just a few days | C
