Currencies
Meanwhile, Treasury Secretary Janet Yellen appeared relaxed about the relentless strength of the dollar this year, remarking it was the “logical outcome” of different global monetary policy stances. Treasury yields eased off multi-year highs and the dollar was little changed. As Alessandra Migliaccio and Craig Stirling explain here, the euro zone s third-biggest economy is expected to shrink by 0.2% next year.
Oil
This means gasoline and diesel cars registered with the UK s vehicle licensing agency after 2005 or 2015, respectively, tend to meet ULEZ standards. News to Note Polish authorities are probing the cause of a leak that halted the flow of Russian oil through a section of the Druzhba pipeline to Germany. OPEC publishes its monthly oil market report.
United States
Biden also said a recession in the US is possible but that any economic downturn would be very slight. While the Fed raises rates and the e View in browser Joe Biden talks recession, confusion spreads over Bank of England policy and the chips pain hits Intel. `Very Slight While the Fed raises rates and the economy slows, President Joe Biden played down recession risks in a CNN interview on Tuesday. The analysis didn t look at how an earlier ending of the Fed s massive bond-purchase campaign would have impacted inflation and unemployment.
The Fed in September 2021 announced its intention to start scaling back bond buying but it only completed that process in March, when it began to raise rates. In data, the US Sep. PPI final demand reading is due, leading to tomorrow’s inflation numbers. The US is speeding up shipment of two advanced air defense systems to Ukraine in response to pleas by President Volodymyr Zelenskiy for partners to supply more weapons.
Crystal ball | St. Louis Fed chief James Bullard s prescience for monetary tightening has made him a key policymaker for Wall Street to follow. The Fed’s position has been the most pronounced, but there are few signs it plans easing back. S&P 500 futures rose 0.8% and Nasdaq 100 contracts climbed 1% as of 5:45 a.m. New York time.
The Fed in September 2021 announced its intention to start scaling back bond buying but it only completed that process in March, when it began to raise rates. In data, the US Sep. PPI final demand reading is due, leading to tomorrow’s inflation numbers. The US is speeding up shipment of two advanced air defense systems to Ukraine in response to pleas by President Volodymyr Zelenskiy for partners to supply more weapons.
Crystal ball | St. Louis Fed chief James Bullard s prescience for monetary tightening has made him a key policymaker for Wall Street to follow. The Fed’s position has been the most pronounced, but there are few signs it plans easing back. S&P 500 futures rose 0.8% and Nasdaq 100 contracts climbed 1% as of 5:45 a.m. New York time.
China
Brendan Scott A portrait of Xi at the Museum of the Chinese Communist Party in Beijing on Oct. 4.
Europe
The European Union is moving closer to proposing a temporary overhaul of the electricity market by limiting prices of gas used for power generation.
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