U.S/EU rivalry for high-energy industry ($WSJ)
South Korea reverts to coal generation ($BBG)
California relied on gas generation in heatwave
UAE oil firm explores Gunvor purchase ($BBG)
U.S./China banking and national security ($FT)
U.S. INTEREST RATE traders expect an imminent business cycle downturn is virtually certain and will be relatively severe. The U.S. Treasury yield curve between two-year and ten-year securities is more inverted than at any time since September 1981, when the economy was entering the second instalment of what proved to be double-dip recession. Like the early 1980s, the central bank finds itself forced to continue tightening monetary policy even as the economy weakens to bring inflation back under control:
LA NIÑA conditions are entering their third year, with sea surface temperatures in the central-eastern Pacific almost -1.0°C below the seasonal average last month:
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