November 15 (Wednesday)
Latest Morning Briefing Executive Summary: Transitory After All
It’s no longer debatable: October’s headline and core CPI excluding shelter reveal that inflation has turned out to be a transitory rather than persistent problem. Rent-of-shelter inflation and nonhousing services inflation are coming back down to Earth more slowly but surely too, as the pandemic effects lifting them all are finally dissipating. … Treasury Secretary Yellen said that the supply of Treasuries didn’t push yields up in October, yet her actions easing supply concerns speak louder. … Also: Small business owners have plenty of job openings but not enough qualified job applicants. …. And: Joe finds just a handful of big companies account for lowered S&P 500 Q4 earnings expectations.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on November 13.
Markets
UBS boss Ermotti says ‘incredible’ bond demand is ‘a signal to the Swiss banking system’ | C
Central banks
Opinion | The Federal Reserve Has Frozen Our Housing Market | N
US I
U.S. Retail Sales Fall for First Time Since March as Holiday Season Approaches | W
The Elusive Soft Landing Is Coming Into View | W
House passes bill to avoid government shutdown, Senate to vote next | C
The $2 Trillion Interest Bill That’s Hitting Governments | W
‘Bidenomics’ is the opposite of Reaganomics | WT
US II
Inflation in the US is improving, the public mood is still sour | R
Wholesale prices fell 0.5% in October for biggest monthly drop since April 2020 | C
Mortgage demand at highest level in 5 weeks after interest rates fall | C
While All Inflation Feels Bad, Housing Inflation Is the Worst | W
UBS: Inflation is ending, but that’s ‘little comfort to households’ | C
Cathie Wood Has a Message for Investors: You’re Worried About the Wrong Thing | W
Europe
Europe primed for industrial reboot after key power price deals | R
Japan
Japan’s Economy Shrinks for First Time in Three Quarters | MSN
China
It’s Too Soon to Bet on China’s Housing Turnaround | W
Geopolitics & trade
Biden, Xi Jinping to Meet in California Amid Atmosphere of Friction | W
Biden-Xi: New Chinese factory data puts trade war, tariffs on agenda | C
U.S. and China vie for dominance in ‘a la carte’ world order: survey | C
Industries & companies
Autos: I Visited Over 120 EV Chargers: Three Reasons Why So Many Were Broken | W
Autos: UAW-GM deal: Union workers appear poised to reject contract | C
Financials: Citigroup layoffs begin as part of CEO Jane Fraser’s overhaul | C
Artificial Intelligence
The A.I. doomer backlash is here. | Slate.com
Companies Tried to Spend Less on Cloud. Then AI Showed Up. | W
