August 01 (Tuesday)
Latest Morning Briefing Executive Summary: Mostly All About Inflation
Rates of inflation are a function of the business cycle as well as the monetary cycle, and there tends to be symmetry to their ascents and descents, especially for goods inflation. … The latest bout of high inflation was triggered by demand shocks resulting from the pandemic, which led to supply shocks, aggravated by the Ukraine war. … Since last summer, however, inflation in the US has been on a disinflationary trend. Deflation in China’s PPI suggests that the US could experience immaculate disinflation, i.e. lower inflation without a recession.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 31.
Markets
A New Big Bull on Wall Street Sees S&P 500 at Record by Year-End | B
Earnings Season Threatens Lofty Stocks | W
Everyday Investors Are Thriving in a World Awash in Yield | W
OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds | R
Wall St. Pessimists Are Getting Used to Being Wrong | N
US Recession Indicator Sahm Rule Might Not Hold for 2023 | B
Central banks
Fed Interest-Rate Pause in September Seen Likely by Wall Street Economists | B
Christine Lagarde: ECB press conference – introductory statement | BIS
Missing Workers and Missing Jobs Since the Pandemic | Federal Reserve Bank of Chicago
US
Why many homeowners feel trapped by low-rate mortgages | C
Housing Market Is Stuck as Homeowners With Low Mortgage Rates Stay Put | B
China
Column: China’s weak PMI means good news for commodities, for now | R
Column: China imports less refined copper but raw materials surge | R
Exclusive: China asks some banks to reduce or delay dollar buying to ease pressure on yuan -sources | R
Geopolitics & trade
China’s war chest: how Beijing is using its currency to insulate against future sanctions | China | The Guardian
Russia’s Seaborne Crude Flows Slump to the Lowest Since January | B
Industries & companies
Autos: Ford restarts F-150 Lightning production amid heightened demand | C
Autos: Xpeng, Nio, Li Auto July electric vehicle deliveries rise | C
Media: Sound of Freedom outgrosses Mission: Impossible, The Flash | C
Retail: Walmart pushes into in-stores advertising as new revenue driver | C
Crypto
Some crypto assets are securities in Kwon Luna case: Manhattan judge | C
