November 7 (Tuesday)
Latest Morning Briefing Executive Summary: What’s Next? Pickleball!
Back and forth we expect the bond and stock markets to bounce for the foreseeable future as the bulls and bears in each market alternate control. We see the 10-year Treasury bond yield ending the year at 4.50% and the S&P 500 at 4600. Next year, we expect continued volleying between bulls and bears to keep the bond yield rangebound between 4.00% and 5.00% and the S&P 500 rising to 5400 by year-end. … As for the economy, we think surprisingly strong economic growth is likely next year, led by a productivity boom that continues for the remainder of the decade—our “Roaring 2020s” scenario taking hold at last.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on November 6.
Markets
Growing Italy risk puts equities at deepest discount in 35 years | R
Russia’s Crude Oil Exports are Running Close to a Four-Month High | B
Global
Global rice markets are in crisis amid ‘artificial’ shortage | C
Central banks
Fed Inflation Fight Not Over, to Do More If Needed: Neel Kashkari | B
Central banks look to have hit peak rates. Here’s how markets think they’ll come down | C
US
Why the U.S. hasn’t updated coins and notes | C
Europe
Flights to Europe Are Becoming Cheap Again | W
French prosecutors probing Sanofi over possible market manipulation | C
China
IMF upgrades China’s 2023, 2024 GDP growth forecasts | R
China’s Exports Tumble Again in Fresh Sign of Economic Trouble | W
Geopolitics & trade
Netanyahu Says Israel Will Control Gaza Security Indefinitely | W
Japanese Automakers Face Stay-or-Go Decision in China | W
Opinion | The U.S. Can Counter China’s Control of Minerals for the Energy Transition | N
Industries & companies
Airlines: Your Pilot Has a New Job—and a Bigger Plane to Fly | W
Banks: Big Banks Cook Up New Way to Unload Risk | W
Financials: Premarket stocks: How Goldman Sachs is navigating a more turbulent world | NN
Financials: UBS’s Takeover of Credit Suisse Was a Steal. Now Comes the Bumpy Part. | W
Pharma: How Ozempic Maker Novo Nordisk’s Very Danish Capitalism Fueled Its Success, and Its Stumbles | W
Corporate finance
Private Equity Wants More US Millionaires Invested in Funds | B
WeWork files for bankruptcy | C
Artificial Intelligence
AI negotiates legal contract without humans involved for first time | C
I’ve Worked With AI for Months. Here Are 8 Lessons I’ve Learned | W
Elon Musk Unveils ‘Grok,’ an AI Bot That Combines Snark and Lofty Ambitions | W
Is It OK for Students to Use ChatGPT? More Teachers Say Yes | W
