Find here our morning brief which compiled the main macro news — released on Twitter — concerning Americas, Asia and Europe.
Israel Latest
Geopolitics
Some 300,000 IDF reservists will be called up in total to fight in Operation Swords of Iron, the IDF announced on Monday.
— The Jerusalem Post (@Jerusalem_Post) October 9, 2023
This is the largest number in the history of the IDF, the spokesperson added.
Israel is currently waging an ongoing war against Hamas terrorists who have… pic.twitter.com/0fzMBTl3sm
'Planes have already taken off': U.S. sends Israel air defense, munitions after Hamas attack https://t.co/xC1t0nsRnd via @politico
— mansfieldkimbro (@mansfieldkimbro) October 10, 2023
11 US citizens dead in Israel conflict, Biden says | CNN Politics Justice Now!!!! https://t.co/wBqPF3wXmq
— cbp (@Indigojingo) October 9, 2023
Israel-Palestine War: the black swan rises https://t.co/X0pF8XUc5f
— LiveSquawk (@LiveSquawk) October 10, 2023
EU MEPs To Call For Iranian Revolutionary Guard To Be Designated As Terrorist Organization – Politico https://t.co/86yi24VYSA
— LiveSquawk (@LiveSquawk) October 10, 2023
Americas
Markets
Goldman Sachs say hold on tight folks:
— Seth Golden (@SethCL) October 9, 2023
After record short $SPX positioning during corrective wave, CTAs are are NOW buyers of SPX in EVERY scenario over the next month!$SPY $QQQ $DIA pic.twitter.com/925Z9mO8u9
Economic Indicators and Prospects
Leading economic indicators divided by lagging indicators has been falling for nearly 2 years. All of the prior 8 times this series tanked like this, the US had a recession. This is the 9th time. Why would this be any different? pic.twitter.com/DBSkzfDBSE
— Jeff Weniger (@JeffWeniger) October 9, 2023
Mexico CPI Stagnates In Sign Banxico Could Stay Cautious – Yahoohttps://t.co/nrOHdNJsqi
— LiveSquawk (@LiveSquawk) October 9, 2023
Housing
U.S. Mortgage Rates jump to 8.09%, the highest level in more than 23 years pic.twitter.com/sWFvy0iGto
— Barchart (@Barchart) October 10, 2023
CRE
The office vacancy rates in Houston (26.4%), Dallas (25.8%), and Austin (24.2%) are among the highest in the country, well above the national average (19.2%). Consequence of many years of overbuilding and the transition to remote work.https://t.co/84OQHWLDRu pic.twitter.com/iWza0SHfcL
— Charlie Bilello (@charliebilello) October 9, 2023
Monetary Policy
Dallas Fed President Lorie Logan, who has been at the hawkish end of the FOMC, takes seriously the recent run-up in Treasury yields and term premiums, in particular.
— Nick Timiraos (@NickTimiraos) October 9, 2023
Her conviction about the need to hike again sounds like it is diminishing as a result.https://t.co/2oyumHpKua pic.twitter.com/MukAVZLeF3
Fed’s Barr defends new capital rules amid bank pushback https://t.co/sgkKXxh1Kq by @Jenniferisms
— Yahoo Finance (@YahooFinance) October 9, 2023
Trade, Politics and Geopolitics
Asia
Economic Indicators and Prospects
China’s Golden Week Offers Economic Bump But Property Ills Persist – FT https://t.co/AKZ4QWKsFy
— LiveSquawk (@LiveSquawk) October 10, 2023
Australian Westpac Consumer Confidence (M/M) SA: 2.9% (prev -1.5%)
— LiveSquawk (@LiveSquawk) October 9, 2023
– Westpac Consumer Confidence Index Oct: 82.0 (prev 79.7)
Australia’s consumer confidence climbed this month while remaining in “deeply pessimistic” territory, during fears the central bank may resume rate hikes https://t.co/5gTKqa7xjK
— Bloomberg (@business) October 10, 2023
Housing
#CountryGarden faces significant uncertainty in assets, while cash positions are under significant pressures, and has not made due payment of HK$470 million debt, according to its HKEX filing.
— CN Wire (@Sino_Market) October 10, 2023
It sees the liquidity to remain very tight. #China #property https://t.co/2gpAANVxep
Country Garden is one of China's largest developers with $187 billion in liabilities.
— The Kobeissi Letter (@KobeissiLetter) October 10, 2023
Here's a chart of their monthly contracted sales which have collapsed.
All as China cuts rates on $6 trillion of mortgages.
Follow us @KobeissiLetter for real time analysis as this develops. pic.twitter.com/0czS6WvGy7
The trading of property developer China SCE Group's 5.5% bond was halted after a 33% slump on Tuesday afternoon.
— CN Wire (@Sino_Market) October 10, 2023
SCE said it had yet to pay an installment of principal and interest totaling about US$61.0 million due under a syndicated loan agreement.#China #realty #property pic.twitter.com/CcFRENv80x
Monetary Policy
PBOC conducted 67 billion yuan of the 7-day RRP on Tuesday.
— CN Wire (@Sino_Market) October 10, 2023
A total of 311 billion yuan will be drained from the market as 378 billion yuan comes due today.#China #liquidity https://t.co/Vo8AhWrsRJ
PBOC raises the $CNY Central Parity Rate by 8 pips to 7.1781 per USD, 995 pips stronger than market expectations.#China $USDCNY $USDCNH pic.twitter.com/KxGYznuDTZ
— CN Wire (@Sino_Market) October 10, 2023
Fiscal Policy
Trade, Politics and Geopolitics
But not Schumer, showing his usual obtuse ignorance. "Xi shows eagerness to improve Sino-U.S. ties in talks with lawmakers." https://t.co/1iZChAjyW9
— Tim Shorrock (@TimothyS) October 10, 2023
Saudi-China Collaboration Raises Concerns About Access To AI Chips – FT https://t.co/H7lYL0VTzF
— LiveSquawk (@LiveSquawk) October 10, 2023
China extends Taiwan trade probe, Taipei cries election interference https://t.co/DtfElOeu3E
— Reuters China (@ReutersChina) October 9, 2023
Europe
Economic Indicators and Prospects
UK retailers struggle as a hot September delays winter spending https://t.co/Q2wBEvEs99 via @tomelleryrees pic.twitter.com/CH8GT1WFus
— Zoe Schneeweiss (@ZSchneeweiss) October 10, 2023
Grocery Inflation Cools Again As Shoppers Seek Value During Sunny September – Kantarhttps://t.co/zPiFgGf3OM
— LiveSquawk (@LiveSquawk) October 10, 2023
Norway CPI (M/M) Sep: -0.1% (est 0.7%; prev %)
— LiveSquawk (@LiveSquawk) October 10, 2023
– CPI (Y/Y) Sep: 3.3% (est 4.0%; prev %)
– CPI Underlying (M/M) Sep: 0.4% (est 0.7%; prev %)
– CPI Underlying (Y/Y) Sep: 5.7% (est 6.1%; prev %)
Monetary Policy
BoE Sold GBP670 Mln In APF +20-Year Gilt Sale, Cover-Ratio At 1.49https://t.co/kBEqQj2IHC pic.twitter.com/OEbK5zLzsz
— LiveSquawk (@LiveSquawk) October 9, 2023
BOE’s Mann calls for ‘aggressive’ policy to tackle inflation https://t.co/u63aGJLxaj via @LucyGJWhite pic.twitter.com/O0ZG21FfEK
— Zoe Schneeweiss (@ZSchneeweiss) October 10, 2023
Fiscal Policy
Bank of Italy warns Meloni to exercise ‘extreme’ fiscal prudence https://t.co/pJqEfCuDyR via @Alemrome pic.twitter.com/e8OTWXeeYf
— Zoe Schneeweiss (@ZSchneeweiss) October 9, 2023
Energy
Trade, Politics and Geopolitics
EU Plans Anti-Subsidy Probe Into Chinese Steelmakers – FT https://t.co/RfcZ5q1IaC
— LiveSquawk (@LiveSquawk) October 10, 2023
Luxembourg’s ex-Finance Minister Frieden asked to form a coalition https://t.co/e0GniOu4Ep via @StephanieBodoni pic.twitter.com/kkc6d7wJB5
— Zoe Schneeweiss (@ZSchneeweiss) October 10, 2023
Other Areas And Global Economy
What Oil Traders Are Watching After Shock Attack On Israel – BBG #OOTThttps://t.co/Luk4sZ2AjB
— LiveSquawk (@LiveSquawk) October 9, 2023
*Note: Previous briefs can be found here