Be in the know. 27 key reads for Thursday…

  1. Junk Bonds Rally as Investors Speculate Inflation Has Peaked (wsj)
  2. China Loosens Grip on Covid Exactly Three Years After First Ever Case (bloomberg)
  3. Emerging market stocks and bonds stage powerful rebound rally (ft)
  4. Hot U.S. inflation is cooling, key PCE price gauge shows (marketwatch)
  5. U.S. Not Seeking Decoupling From China, Commerce Chief Says (wsj)
  6. Splunk Third-Quarter Results Soundly Beats Estimates (investors)
  7. BoC to keep up pace with 50 basis point December rate hike -economists (reuters)
  8. China EV Sales: Nio, Li Report Record Deliveries After Xpeng Stock Leads Surge As Covid Overhang Starts To Lift (investors)
  9. Investors Will Get 1 Share of Healthcare Spinoff for Every 3 GE Shares They Own (barrons)
  10. The Dollar Had Its Worst Month in 12 Years. What Happens Now. (barrons)
  11. Alibaba, Tencent Rally in Hong Kong on Looser Chinese Covid Controls (barrons)
  12. Treasury yields hold near recent lows after Powell comments (marketwatch)
  13. Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December (wsj)
  14. Chinese Authoritarianism Stumbles on Covid; American Democracy Shakes It Off (wsj)
  15. EU Asks Members to Set Russia Oil-Price Cap at $60 (wsj)
  16. U.S. Households Boosted Spending in October (wsj)
  17. China’s Middle Class May Be Xi Jinping’s Biggest Threat (bloomberg)
  18. Beijing Eases Covid Curbs, Letting Some Patients Isolate at Home (bloomberg)
  19. Almost Every Single Major Asset Class Saw a November Reversal (bloomberg)
  20. Brothers Who Made Billions on US Pharma Firm Revamp Health Bets (bloomberg)
  21. Tesla’s chief designer on the Cybertruck and working with Elon Musk (cnbc)
  22. ‘This is Xi’s first real test’: With a stumbling economy and angry citizens, Chinese President Xi Jinping is facing the biggest crisis of his time in power (businessinsider)
  23. Here are 10 reasons why the US won’t be hit with a recession in 2023, according to Goldman Sachs (businessinsider)
  24. PVH shares surge 8% on better than expected Q3 results & guidance (streetinsider)
  25. China set to loosen COVID curbs after week of historic protests (reuters)
  26. China’s Covid tsar says fight against virus entering ‘new stage’ (ft)
  27. Hong Kong ‘must spend more on digital economy’ to catch Singapore, India (scmp)

The “Grinch Has Been Cancelled” Stock Market (and Sentiment Results)…

On Wednesday, Fed Chair Jay Powell shifted his messaging just enough to cancel the Grinch from stealing Christmas this year.  In his prepared speech on Wednesday he made the following statements which eased market participants’ jittery sentiment over the past few days: Continue reading “The “Grinch Has Been Cancelled” Stock Market (and Sentiment Results)…”

Be in the know. 33 key reads for Wednesday…

  1. Chinese Stocks Listed in US Add $177 Billion in Historic Month (bloomberg)
  2. China enlists Alibaba and Tencent in fight against US chip sanctions (ft)
  3. Fed Chair Powell Speaks Today. Here’s What to Watch—and Why It Matters. (barrons)
  4. Stocks Could Have a Jolly December. What Drives the ‘Santa’ Rally. (barrons)
  5. Teva Is ‘on the Way’ to Leaving Opioid Litigation Behind, CEO Says (barrons)
  6. Europe’s Russian Oil Cap and Ban May Have Unexpected Effect (barrons)
  7. Former Chinese leader Jiang Zemin dies at age 96 (marketwatch)
  8. Alzheimer’s Breakthrough Is Boost for Biogen, Eli Lilly Despite Side-Effect Concerns (barrons)
  9. XPeng’s Results Miss Forecasts but Guidance Offers Hope. The Stock Is Soaring. (barrons)
  10. Congressional Leaders Commit to Quickly Pass Legislation to Avert Rail Strike (wsj)
  11. Most deeply inverted Treasury curve in more than 4 decades has one upbeat takeaway for investors (marketwatch)
  12. Proud, Scared and Conflicted. What the China Protesters Told Me. (nytimes)
  13. Unusual relationship between Treasury yields reflects investors’ bets on easing inflation and future rate cuts (wsj)
  14. Reality Check. The Energy Report 11/30/2022 (Phil Flynn)
  15. Zero-Covid and Xi Jinping’s Deal With the Devil (wsj)
  16. China’s Failed Covid Vaccine Nationalism (wsj)
  17. Jiang Zemin’s Death Could Haunt Xi (bloomberg)
  18. China Will Fully Reopen by Mid-2023, Bloomberg Economics Says (bloomberg)
  19. Banks Stuck With $42 Billion Debt Seize Chance to Offload It (bloomberg)
  20. The Fed won’t cut interest rates until late 2023 as the US economy continues to look resilient, Barclays says (businessinsider)
  21. Jeremy Siegel says a recession is ‘virtually 100%’ assured if the Fed keeps hiking rates next year (businessinsider)
  22. The Fed is making a ‘complete mistake’ by cutting down its balance sheet, Mizuho’s chief economist says (businessinsider)
  23. Chicago PMI Collapses To COVID-Lockdown Lows (zerohedge)
  24. ADP Signals “Turning Point”: Weakest Labor Gains Since Jan 2021, Manufacturing Job Losses Soar (zerohedge)
  25. China’s Guangzhou city relaxes COVID rules in several districts (streetinsider)
  26. Dollar heads for biggest monthly loss since 2010 ahead of Powell speech (streetinsider)
  27. Analysts impressed by Biogen (BIIB) after full data on Alzheimer’s drug Lecanemab (streetinsider)
  28. BofA Says the US Yield Curve Will Return to Normal on Fed Pivot (yahoo)
  29. PayPal, Netflix Top the List of Hedge Fund Favorites (institutionalinvestor)
  30. Eurozone inflation falls more than expected to 10% (ft)
  31. ‘We were too gloomy’: Europe’s business leaders turn more upbeat (ft)
  32. Elon Musk Says Fed Needs To Cut Interest Rates ‘Immediately,’ Flashes ‘Severe Recession’ Warning (benzinga)
  33. Buffett and Swensen’s Advice on Identifying Companies With Good Management (gurufocus)