Greetings,
The United States: Once again, the CPI report surprised to the upside, pointing to entrenched inflation in the US. Here are the contributions.
The year is expected to end with the fed funds rate at 4.5%. The market sees the terminal rate approaching 5% next year.
Equities: Stocks have decoupled from economic surprises (the market is pricing in a recession).
Which factors do companies report as having a negative impact on earnings?
Energy: US diesel shortages are worsening. Below is the inventory level of US distillates (in barrels).
Asia – Pacific: Singapore’s central bank continues to tighten monetary policy by guiding the currency higher.
Commodities: Average daily volume and open interest in aluminum futures have risen this year
Food for Thought: To conclude the week, here is a Gen-Z cheat sheet for teachers:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com