An update on the fire in London. London's Luton Airport has suspended all flightsHas asked passengers not to travel theresuspended all flights until 12pm on Wednesday 11th OctoberThis comes after a "significant fire" in a car park caused the structure to partially...
ECB’s Knot speaking Wednesday on financial stability
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GM, Canadian union reach tentative agreement, ending strike
Reuters with the report on an agreement between Canadian Unifor union and General Motors::tentative agreement reached about 12 hours after 4,300 workers went on strike at three GM facilitiesunion said the tentative agreement follows the pattern agreement Unifor...
More from RBA’s Kent: If we were to sell bonds, we’d do it in a way not to disturb markets
Christopher Kent, Assistant Governor (Financial Markets) at the Reserve Bank of Australia Q&A Have the opportunity to see how economy reacts to past hikesNo current plans to step up the pace of bond holdingsIf we were to sell bonds, would do it in a way that would...
China will hold 3rd Belt and Road Forum on October 17th-18th, CCP Chair Xi keynote speech
China will hold the third Belt and Road Forum for International Cooperation in Beijing from October 17 to 18. Chinese Communist Party Chairman Xi Jinping will attend the forum's opening ceremony and deliver a keynote speech. will also host a welcome banquet and...
PBOC sets USD/ CNY mid-point today at 7.1779 (vs. estimate at 7.2842)
People's Bank of China USD/CNY reference rate.The previous closing rate was 7.2935The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating...
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RBA’s Kent pays lip service to ‘further tightening may be required’ to slow inflation
The speech by Christopher Kent, Assistant Governor (Financial Markets) at the Reserve Bank of Australia is titled "Channels of Transmission' (link to full text)He doesn't sound keen on further rate hikes. The headlines indicate a slew of reasons for further rate hikes...
ICYMI:WSJ Fed insider says higher bond yields are likely to result in extended FOMC pause
The Tuesday news from the US featured this:Timiraos: Higher long-end yields likely to extend Fed pauseIn which WSJ Fed whisperer Nick Timiraos said that the run-up in long-term interest rates might substitute for a further central bank rate hike:A sustained rise in...
PBOC is expected to set the USD/CNY reference rate at 7.2842 – Reuters estimate
People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate...
A big Wednesday coming up in the US – Inflation data (September PPI) and FOMC minutes
US September is PPI due on Wednesday at 8.30am US Eastern time.I posted a preview yesterday:The consensus expected can be seen in the screenshot below. As for the ranges of estimates for the 'ex food & energy:for the m/m the range of estimates spans from 0.1% to...
Deutsche Bank’s 4 reasons to be concerned about resurgent inflation
DB says that inflationary pressure is receding:central bank tighteningsupply chain pressures have diminished commodity price inflation has subsidedBut, say the analysts, now is not the time to become complacent, urging caution. Outlining 4 reasons to be wary of an...
Reuters Tankan for September shows tiny improvement
Reuters Tankan is a monthly survey that seeks to track the Bank of Japan's tankan quarterly survey Japan manufacturers index +4 in October, unchanged from SeptemberNon-manufacturers index +24 in October vs +23 in September Manufacturers January index seen at +5,...
J.P. Morgan Private Bank says conditions in place for a new high for equities in 2024
Head of Specialized Strategies at J.P. Morgan Private Bank spoke in a CNBC interview.In brief:positive outlook for earnings ... could cause new highs by the middle of 2024“We think we bottomed out last quarter, we began to re-accelerate, and the fundamental story is a...
Fed’s Daly says we have more work to do, inflation is still high
Did she not get the memo?Daly speaking Decline in goods inflation has been an easy win, and not largely due to the Fed's rate hikesJust starting to see improvement in non-housing services inflation, need more of itWe have more work to do, inflation is still highFed...
Japan media ICYMI – Bank of Japan considering raising its inflation outlook to nearly 3%
The Bank of Japan is considering raising its inflation outlook for the current business year to next March, from 2.5% at present to near 3%.That's the report in Japanese media, Kyodo, the item cited "sources close to the matter":upward revision would reflect price...
ICYMI: China reportedly weighs new stimulus, higher deficit to meet growth target
Justin caught wind of this on Tuesday ICYMI:The gist of this is that China is considering new stimulus and higher deficit to meet its annual growth target. Chinese authorityes mulling the issuance of at least CNY1 trillion ($137.1 billion) of additional sovereign debt...
EU gives Musk 24 hours to respond about Israel-Hamas war misinformation and violence on X
> EU gives Musk 24 hours to respond about Israel-Hamas war misinformation and violence on X <!--> --> <!--> --> Info via CNBC:Thierry Breton, the European commissioner for the internal market, said in a letter addressed to Musk on Tuesday that his...
JP Morgan are wary of a disruption to oil supply and thus higher prices
JP Morgan says that while in the current environment, uncertainty is high, war in Israel is unlikely to disrupt oil supplies.The 'but' is:"There has been no immediate impact on current global oil production ... supply could be disrupted if the U.S. were strictly to...