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09.11.26 - 22:48
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High fossil fuel prices spread inflation ′like a cancer′, UN climate chief tells Cop31 (The Guardian)
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Simon Stiell makes opening address at summit in Turkey, where talks are under way about speeding up shift to electrificationA global fossil fuel price crisis is “spreading inflation like a cancer” around the planet, the UN's climate chief, Simon Stiell, told the opening plenary of critical UN climate talks in Turkey.Stiell joined Cop31 hosts Turkey and Australia, which is leading the negotiations, in promoting renewable energy and a new electrification goal as an optimistic alternative to a planet still tied to oil, coal and gas. Continue reading......
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09.11.26 - 19:30
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Layoff Fears Hit Highest Since Covid Crash As Inflation Expectations Stay Stuck Near 3-Year High: NY Fed Survey (ZeroHedge)
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Layoff Fears Hit Highest Since Covid Crash As Inflation Expectations Stay Stuck Near 3-Year High: NY Fed Survey
Last month, one-year inflation expectations in the NY Fed's September Survey of Consumer Expectations jumped to the highest since May 2023. This month, they just sat there, waiting for the next catalyst.According to the October survey released by the New York Fed on Monday, median inflation expectations were unchanged at all three horizons: 3.9% one year ahead (3.91% to be precise, a hair above September's 3.90% and above the 3.8% consensus), 3.3% three years ahead (technically up from 3.25% to 3.29%, which rounds to "unchanged"), and 3.0% five years ahead, where the series has now been parked for the 14th month in a row. If the Fed wanted proof that long-run expectations are "anchored," well, here it is. Just one problem: the anchor sits a full point above the Fed's 2% target.The survey also showed that disagreement across respondents (the gap between the 75th and 25th percentile...
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09.11.26 - 19:30
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Key Events This Week: CPI, PPI, Fed Speakers Galore And The End Of Earnings Season (ZeroHedge)
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Key Events This Week: CPI, PPI, Fed Speakers Galore And The End Of Earnings Season
Having dispensed with the October jobs report, which came in red hot and above all Wall Street estimates, yet the market seems rather unfazed by the prospect of more rate hikes, we now move on from payrolls to US inflation as the main macro focus this week, with October CPI tomorrow and PPI on Friday, alongside a busy slate of Fed speakers. As DB's Jim Reid notes, beyond the US, the key releases include China's trade figures tomorrow, UK Q3 GDP on Thursday, and Japan's October PPI on Thursday, while the corporate calendar includes Cisco, Applied Materials, Siemens, Allianz and SoftBank as Q3 winds down after another bumper quarter that's been overshadowed by the recent market volatility.Earlier this morning, data showed that China's producer inflation accelerated to its fastest pace in nearly four-and-a-half years in October, as higher global oil prices drove up manufacturing costs, even as consumer inflati...
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