White House downplays hopes for more oil
Middle East imports more Russian fuel oil
Japan plans reactor restarts before the winter
United Kingdom heads for winter crisis ($BBG)
Germany is moving into a recession ($BBG)
ERCOT confident will avoid blackout ($BBG)
U.S. household finances and inflation ($WSJ)
Russia/NATO conflict is test of resolve ($BBG)
Central banks turn hawkish on inflation
U.S. CENTRAL BANK is expected to raise short-term interest rates to 3.50-3.75% by February 2023 up from 1.50-1.75% at present to curb inflation. From the second quarter of 2023, however, policymakers are expected to start reducing interest rates as the economy slows and inflation decelerates:
U.S INTEREST RATE traders anticipate a recession has become virtually certain following the continued acceleration of inflation. The yield curve spread between 2-year and 10-year maturities is now in the 98th percentile for all months since 1990:
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