Find here our morning brief which compiled the main macro news — released on Twitter — concerning Americas, Asia and Europe.
Israel Latest
Geopolitics
Israel Latest: Over 1,100 Dead in Attacks Including on Music Festival; Fighting Enters Third Day https://t.co/KfzHs5lyPQ
— plainguy18 (@plainguy18) October 9, 2023
Biden Says Israel Under Terrorist Attack, Pledges US Support https://t.co/oSxZUop1xn
— Mike Demarest (@Mike_Demarest) October 8, 2023
China Reiterates Two-State Solution Needed for Israel Palestine
— SynCronus (@syncronus) October 8, 2023
"The fundamental way to resolve the Palestinian-Israeli conflict is the implementation of the two-state solution and the independence of the State of Palestine"https://t.co/epwGzQEEA0 pic.twitter.com/YN5MtLe2ct
Markets
Israel’s Central Bank To Sell Up To $30 Billion As Shekel Falls – BBG https://t.co/mmwv4yHoOK
— LiveSquawk (@LiveSquawk) October 9, 2023
*Focus on oil
WSJ News Exclusive: Saudi Arabia has told the White House it would boost oil output in early 2024 if prices are high, a move aimed at winning goodwill in Congress for a deal in which the kingdom would recognize Israel and get a defense pact with Washington https://t.co/Lg0dFPKCFK
— The Wall Street Journal (@WSJ) October 6, 2023
Americas
Markets
Expecting a Q4 rally as stocks are very oversold and sentiment has become very bearish, but this is likely to be the last hurrah before a recession induced sell-off early next year. https://t.co/VZRj8t4YLh
— Puru Saxena (@saxena_puru) October 7, 2023
Coupled with this on Wednesday. Hmmmhttps://t.co/WTN0nFzXcO
— Ryan Detrick, CMT (@RyanDetrick) October 8, 2023
Economic Indicators and Prospects
"Payrolls soared by 336,000 in September, defying expectations for a hiring slowdown" https://t.co/Ieq1tSbpCs
— The Lincoln Project (@ProjectLincoln) October 6, 2023
Comments on September Employment Report https://t.co/bLgaLxrCiY pic.twitter.com/8svWjuyZNJ
— Bill McBride (@calculatedrisk) October 6, 2023
US job growth sizzles in September; wage inflation cooling https://t.co/4ZF8DeWDmv pic.twitter.com/jy1Fle2kQj
— Reuters Politics (@ReutersPolitics) October 6, 2023
Average hourly earnings in Sept posted its mildest monthly increase since Feb 2022 and its smallest year-over-year gain since June 2021
— Nick Timiraos (@NickTimiraos) October 6, 2023
The index of aggregate weekly payrolls for private-sector workers, which combines hiring, wages, and hours, ticked down in September pic.twitter.com/b5LxxyoLjL
Number of multiple jobholders who are forced to hold a full-time job as both primary and secondary job. pic.twitter.com/x8j1CPSlw5
— zerohedge (@zerohedge) October 6, 2023
Credit card debt exploded by $14.68 billion last month.
— Joe Consorti (@JoeConsorti) October 7, 2023
This happens at the end of every cycle—when personal savings are drained & people take out new credit cards they don’t intend to pay back.
A classic blow-off top in consumer credit is underway, you know what happens next: pic.twitter.com/qX0NC6VG3w
"Wholesale used-vehicle prices … increased 1.0% in September from August. The Manheim Used Vehicle Value Index (MUVVI) rose to 214.3, down 3.9% from a year ago."@Manheim_US pic.twitter.com/wZP8SkElNR
— Daily Chartbook (@dailychartbook) October 6, 2023
Strikes
Housing
https://t.co/fNUspmGbWx
— Bill McBride (@calculatedrisk) October 6, 2023
Rates mid-day. I expect repricing later in the day. pic.twitter.com/9WHRmEXrWf
Monetary Policy
Fed's Bowman says it will likely be appropriate to raise rates again https://t.co/YCZm4bw2jF pic.twitter.com/3hMBP7ikGY
— Reuters (@Reuters) October 7, 2023
Trade, Politics and Geopolitics
US restricts trade with 42 Chinese entities over support for Russia's military https://t.co/faPNG0QcY0 pic.twitter.com/pJOsNRfmkD
— Reuters (@Reuters) October 7, 2023
Asia
Markets
Economic Indicators and Prospects
Tourism revenue from China’s “Golden Week” holiday surged year-on-year but edged only slightly above its pre-Covid level https://t.co/tAv1SHOu44
— Bloomberg Next China (@next_china) October 6, 2023
China's cross-border trips during Golden Week holiday recover to 85% of pre-pandemic level https://t.co/jIEq01HoVj pic.twitter.com/WQlTvHTrun
— Reuters World (@ReutersWorld) October 7, 2023
China’s passenger trips during the Golden Week holiday from Sept. 29 to Oct. 6 exceeded 458 million, the Ministry of Transport said on Oct. 7. The number of daily average rail and air trips soared 158% and 195% to 17.6 million and 2.1 million, respectively, from a year earlier. pic.twitter.com/nmmjbbF6pt
— Yicai 第一财经 (@yicaichina) October 9, 2023
Goldman Sachs: The National Day tourism data, together with the still above-50 September services PMIs, suggest the services recovery has decelerated but continues. We believe additional policy easing will be necessary for further recovery in consumption and service. #China pic.twitter.com/swHrxUe58M
— CN Wire (@Sino_Market) October 9, 2023
Housing
#Chinese #property developers tumbled in A-share market due to weaker-than-expected home sales in holiday.
— YUAN TALKS (@YuanTalks) October 9, 2023
An index tracking the sector fell 2.3%, making it one of worst-performing sectors.https://t.co/haGgRmRP6L https://t.co/svp6bNkuKY pic.twitter.com/jXKBa5EHqI
Monetary Policy
PBOC conducted 20 billion yuan of the 7-day RRP on Monday.
— CN Wire (@Sino_Market) October 9, 2023
A total of 299 billion yuan will be drained from the market as 319 billion yuan comes due today.#China #liquidity https://t.co/Vo8AhWrsRJ
This is probably one of the most important charts right now about the Chinese economy. To offset the collapse in the real estate sector, Beijing has managed to surge credit to the manufacturing sector, which has helped prevent a total collapse of domestic credit growth and demand pic.twitter.com/YPa0LQYYjZ
— Shanghai Macro Strategist (@ShanghaiMacro) October 9, 2023
Fiscal Policy
Energy
Australia pledged stable energy exports to Japan amid concern that stricter emissions targets will impose higher costs for fossil fuel projects https://t.co/t3zJAP0lIl
— Bloomberg (@business) October 8, 2023
Trade, Politics and Geopolitics
Japan PM Kishida unlikely to call snap election within 2023: sources https://t.co/F5NIDjfBaC #KyodoNewsPlus
— Kyodo News | Japan (@kyodo_english) October 7, 2023
Europe
Markets
Europe on its way to become open-air museum. We are sticking to industries from last century and missing current technology revolution. But hey, let’s regulate AI. pic.twitter.com/jzgQVW58Mc
— Michael A. Arouet (@MichaelAArouet) October 8, 2023
Economic Indicators and Prospects
German industry shrinks for a 4th month on energy, construction https://t.co/cMpL1ec9x2 pic.twitter.com/azbUn5jvKd
— Zoe Schneeweiss (@ZSchneeweiss) October 9, 2023
Norway’s economy shrinks for the first time in 4 months https://t.co/BQ6UbHOKlG via @ottummelas pic.twitter.com/wQpYu1kbbC
— Zoe Schneeweiss (@ZSchneeweiss) October 9, 2023
Monthly UK GDP data for August are due on Thursday, anticipated by economists to show a small increase that doesn’t make up for July’s 0.5% drop https://t.co/4OFDw6rzNu pic.twitter.com/NGuzGoWrxx
— Zoe Schneeweiss (@ZSchneeweiss) October 8, 2023
Housing
Paris commercial property deals hit the lowest level in 13 years https://t.co/RkRBYgsGcV via @a_rajbhandari pic.twitter.com/1wO4xJnu0E
— Zoe Schneeweiss (@ZSchneeweiss) October 8, 2023
Swedish households’ optimism on housing prices is fading https://t.co/3rPXiLBx55 via @CharlesCredit pic.twitter.com/DfS5RvCwG1
— Zoe Schneeweiss (@ZSchneeweiss) October 9, 2023
Monetary Policy
ECB’s Kazaks: Support For Borrowers Must Be Targeted, Timed And Proportionate – Kilkhttps://t.co/uOTrJeePPb
— LiveSquawk (@LiveSquawk) October 9, 2023
Fiscal Policy
France Finance Minister Le Maire seeks €1 billion in extra savings https://t.co/mzH0wmQStk via @WHorobin pic.twitter.com/R45aRwMMxb
— Zoe Schneeweiss (@ZSchneeweiss) October 9, 2023
Ditch Autumn Statement, UK’s Manufacturers Urge Chancellor Hunt – Times https://t.co/WFFAhGz7qS
— LiveSquawk (@LiveSquawk) October 8, 2023
Energy
Just before 2 a.m. local time on Sunday, the Finnish and Estonian gas transmission system operators noticed “an unusual drop in pressure in the offshore gas pipeline between the two countries,” Gasgrid Finland Oy said in a statement on its website. https://t.co/QWtnODSEA3
— PiQ (@PiQSuite) October 8, 2023
Trade, Politics and Geopolitics
German conservatives win key state votes in Bavaria and Hesse as Scholz allies slip https://t.co/5ilEIl2zZD via @ArneDelfs pic.twitter.com/jH3kX1xuXi
— Zoe Schneeweiss (@ZSchneeweiss) October 8, 2023
Mitsotakis Party headed for victory in 7 of 13 Greek regions https://t.co/aCaG3UMZmn via @NikasSotiris @PaulTugwell1 pic.twitter.com/V0Cg5aHaWS
— Zoe Schneeweiss (@ZSchneeweiss) October 9, 2023
Luxembourg election poised to return conservatives to government https://t.co/e0GniOuCtX via @StephanieBodoni pic.twitter.com/k5BtNCyad3
— Zoe Schneeweiss (@ZSchneeweiss) October 9, 2023
Other Areas And Global Economy
*Note: Previous briefs can be found here
