Greetings,
The Eurozone: The ECB hiked rates by 50 bps and struck a hawkish tone.
The euro surged on the ECB announcement but then retreated amid global risk-off sentiment.
The United States: The market is now pricing about 130 bps of rate cuts in the second half of next year and the first half of 2024.
Emerging Markets: Argentina’s inflation breached 90% last month.
Economists downgraded India’s FY 2023 GDP, but the nation’s growth is expected to outpace most other countries.
Energy: US gross crude oil exports remain near record levels.
Equities: Stocks tumbled on Thursday in response to the hawkish Fed. The S&P 500 is at the low end of its recent trading range.
Food for Thought: Happy Hanukkah!
Edited by Alexander Bowers
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
