February 08 (Wednesday)
Latest Morning Briefing Executive Summary: The Third & Fourth Scenarios
Strong economic releases last week raise new uncertainties for financial markets. No longer is the economic debate limited to the hard-or-soft-landing question. Two no-landing scenarios are in the running now—one bearish for stocks (if inflation can’t be controlled) and one bullish (if inflation moderates). We still forecast a soft landing with moderating inflation, which would be bullish. Minneapolis Fed President Neel Kashkari seems to be concerned about the inflationary-no-landing scenario. … Also: Fixed-income markets have sent interest rates higher in response to the robust economic data. … And: A look at the European Central Bank’s tightening course ahead.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 6.
Markets
Stocks Close Higher After Powell Remarks | W
Central banks
Fed’s Jerome Powell Braces for Longer Inflation Fight Amid Hiring Surge | W
Fed’s Powell Says Further Rate Hikes Needed Amid ‘Strong’ US Labor Market | B
Fed Chair Powell says inflation is starting to ease, but interest rates still likely to rise | C
Powell: A “couple of years” before Fed nears end of balance sheet decline | R
Energy
Lost Russian oil revenue is bonanza for shippers, refiners | R
US
Wholesale egg prices have ‘collapsed’ from record highs in December | C
Ex-Goldman Exec’s Top Housing Market Predictions for 2023 | B
Biden Calls Putin’s Ukraine Invasion ‘Test for the Ages’ in State of the Union | B
Europe
European Officials Push for Joint Effort With U.S. on Green-Technology Minerals | W
Geopolitics & trade
China declined U.S. request for call between defense chiefs after balloon shootdown | R
China Refused U.S. Call After Downing of Suspected Spy Balloon, Pentagon Says | W
Technology
Microsoft will offer ChatGPT tech for companies to customize: source | C
Climate
Inflation Reduction Act: Which states have most new green jobs so far? | C
Facebook co-founder Moskovitz funds sunlight reflection research | C
