October 17 (Tuesday)
Latest Morning Briefing Executive Summary: It’s Different This Time
Today, we compare the current economic and financial environment with those of three past periods—the late 1970s, early 2000s, and mid-2000s. Today’s environment resembles the other three in that easy credit conditions fueled price and/or asset inflation, which led to tightening of credit conditions. In the past periods, that set off economywide credit crunches and recessions that moderated inflation. This time is different: No economywide recession is forthcoming, yet inflation is moderating anyway. The most important difference about this period, however, is that productivity growth is unlikely to collapse but to boom throughout the rest of this decade.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on October 16.
Markets
Stocks close higher, Dow rallies 300 points as optimism over earnings outweighs higher rates | C
Long-End Treasuries Fluctuate by Most Since 2020 Pandemic Onset | B
Bonds Have Been Awful Investments. It’s a Good Time to Buy. | N
US, Venezuela to announce oil sanctions deal on Tuesday -report | R
Investors dumped oil among fastest rates in last decade | R
More Chinese companies vow share buybacks as market sags further | R
US
If the Economy Is So Strong, Why Are Consumer Stocks Tanking? | W
This Inflation Report Won’t Let the Fed Declare Victory | W
It’s Getting Too Expensive to Have Fun | W
Home Sales on Track for Slowest Year Since Housing Bust | W
53% of Gen Z see high cost of living as barrier to financial success | C
China
China’s robust imports of major commodities question weak economy view | R
Chinese Corporate Borrowing Slumped in Q3, According to China Beige Book | B
Country Garden’s entire offshore debt to be in default if Tuesday payment not made | R
The Scenarios China Evergrande Group Would Face in a Potential Liquidation | B
Geopolitics & trade
Israel-Hamas war: How geography could shape a ground incursion in Gaza | C
Biden to Visit Israel as U.S. Push for Border Opening Stalls | W
How the Israel-Hamas War Is Tilting the Global Power Balance in Favor of Russia, China | W
How Singapore Can Adapt in a Time of US-China Stress, Climate Change | B
Industries & companies
Autos: Ford, UAW leaders spar as auto strike costs rise | R
Autos: Automakers blast US plan to hike fuel efficiency rules | R
Consumer: Tyson Foods workers, activists protest child labor in US meat sector | R
Financials: Goldman Sachs Wants Out of Consumer Lending. Employees Say It Can’t Happen Fast Enough. | W
Media: Taylor Swift Eras Tour box office: Second best October open | C
Media: AMC’s Taylor Swift deal fulfills theater chain’s wildest dreams and here’s how | FO
Corporate finance
Exxon Mobil Closing In on Megadeal With Shale Driller Pioneer | W
Technology
Sweetgreen Hires Kale-Shooting Robots to Speed Up Service | W
Memory-Chip Stocks Can Ride the AI Gravy Train, Too | W
AI Could Spur an Economic Boom. Humans Are in the Way. | W
No company is immune from cyberattacks | The Hill
