September 06 (Wednesday)

Latest Morning Briefing Executive Summary: From Strong To Soft Patch?
Is the surprising Q3 strength in the economy sustainable? Clues in the latest data releases suggest not, and our forecast calls for a renewed soft landing. A stronger-for-longer economy wouldn’t jibe with the Fed’s higher-for-longer interest-rate stance. … But the economic outlook hinges much on what consumers do next. We don’t see them slamming on the spending brakes, as the hard-landers predict will happen when excess savings are depleted. But they might start tapping on the brakes, especially given the imminent resumption of student loan payments and tightening credit conditions.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 5.

Markets
Wall St slips as Treasury yields rise, oil prices boost energy sector | R
Saudi Arabia to extend voluntary cut of 1 million barrels per day until the end of the year | C
Column: Crude oil uncertainty paradoxically equals price stability | R

Central banks
Opinion: The Fed’s inflation fight will push the 10-year Treasury yield to 5% | MW
Fed Governor Waller agrees the central bank can ‘proceed carefully’ on interest rates | C

US
Mortgage rate tipping point: Homeowners say 5% is the magic number | C
Congress returns with the clock ticking to avert government shutdown | C
Labor Is a Terrible Guide to Inflation, but Nobody Wants to Admit It | W
What’s Worse Than Record High Rent? Record High Rent, Plus Fees. | W

China
Russian and Saudi Oil-Production Cuts Flash Warning on Chinese Economy | W
China’s Country Garden Buys Time to Repay Debt—but Not Long | W

Geopolitics & trade
Huawei’s new chip breakthrough likely to trigger closer US scrutiny, analysts say | R
Tesla sues Chinese firm over tech secret infringement -Chinese state media | R

Industries & companies
Autos: In EV Transition, German Carmakers Lag Behind Tesla and China | W
Financials: Analysis: US banks hold $3.3 trillion cash amid banking crisis, slowdown worries | R
Financials: How big banks won the banking crisis | CNN Business
Manufacturing: Column: Prolonged US manufacturing slowdown barely dents energy use | R
Media: Meta employees are back in office three days a week | C

Corporate finance
Chip design firm Arm seeks up to $52 billion valuation in US IPO | C
Arm Targets $52 Billion Valuation in Largest IPO of the Year | W

Climate
Investors Flock to Battery Recyclers in Hunt for Climate Law Winners | W