Morning Brief: U.S. Recession Fears Surge Among CEOs, Gas Flows From Germany To France Have Halted
Americas
Markets
Would you call the largest destruction of wealth in modern market history a "soft landing"? pic.twitter.com/vZ0w5WETxy
— Bespoke (@bespokeinvest) June 15, 2022
Economic Indicators and Prospects
Philadelphia Fed says regional factory activity slowed for 1st time since 2020 https://t.co/Bsl9pp10ve
— MarketWatch (@MarketWatch) June 16, 2022
Google searches for 'recession' are on pace to approach a record high. pic.twitter.com/aLWXmyGgIQ
— Bespoke (@bespokeinvest) June 16, 2022
Housing
May Housing Starts: All-Time Record Housing Units Under Construction https://t.co/0sIDVdAzeP
— Bill McBride (@calculatedrisk) June 16, 2022
Combined, there are a record 1.665 million units under construction. This above the previous record of 1.628 million units that were under construction in 1973 (baby boom apartments). pic.twitter.com/gXfXtKU5IN
This is not oil, a meme stock or even a shitcoin. It’s the average monthly mortgage payment in America up 50% pic.twitter.com/KstQHgjXBw
— Genevieve Roch-Decter, CFA (@GRDecter) June 16, 2022
Black Knight put out an estimate of Refinance candidates today. Basically zero.
— Bill McBride (@calculatedrisk) June 16, 2022
"Just 472K remain. This is the smallest this population has ever been, since at least 2000, when we began tracking this metric."
The Home ATM is closed. pic.twitter.com/RBVie8yzZg
Energy
Motiva’s Port Arthur refinery – the largest in the US – plans a multiunit turnaround to begin Oct. 1 and include its second-largest crude unit. Refinery rates will be reduced as much as one-third during the work, which will last 30-35 days: BBG
— zerohedge (@zerohedge) June 16, 2022
Trade, Supply Chain and Geopolitics
The last time the Biden Midterm Elections Petroleum Reserve was this empty, Reagan signed a secret order to sell weapons to Iran pic.twitter.com/I5hh5b9gow
— zerohedge (@zerohedge) June 16, 2022
Asia
Covid-19
Economic Indicators and Prospects
Economists argue min wage ruling could flow on quickly to enterprise agreements due to 23% of workforce on EAs up for renegotiation. But Centre for Future Work says “with decline in EA-making, expired EAs more likely to remain expired than renegotiated" https://t.co/zKhMqnMpCC
— David Marin-Guzman (@dmaguz) June 16, 2022
Mazda And Mitsubishi Motors To Lift Prices In Japan – Nikkei https://t.co/TnlCEacdjf
— LiveSquawk (@LiveSquawk) June 17, 2022
Housing
Sydney property prices are expected to fall by up to 20% — which could usher more declines nationwide https://t.co/rTumPngU3U
— Bloomberg Economics (@economics) June 17, 2022
Monetary Policy
Fiscal Policy
Trade, Supply Chain and Geopolitics
Regulation
China’s Politburo declared its anti-corruption dragnet of financial institutions a success, in a potential sign of relief for the $59 trillion sector https://t.co/5qgjJkDkKN
— Bloomberg (@business) June 17, 2022
Europe
Economic Indicators and Prospects
Euro area annual #inflation up to 8.1% in May https://t.co/0v4XMPvcbJ pic.twitter.com/YMxGlexwHM
— EU_Eurostat (@EU_Eurostat) June 17, 2022
Monetary Policy
Bank Of England Eyes Half-Point Rate Hike For UK In Seven Weeks – BBG https://t.co/vskKFHtCUK
— LiveSquawk (@LiveSquawk) June 17, 2022
Fiscal Policy
Energy
Gas Flows From Germany To France Have Halted, Pipeline Operator Says – FP https://t.co/k8GHtPWqfL
— LiveSquawk (@LiveSquawk) June 17, 2022
Trade, Supply Chain and Geopolitics
Ukraine, Moldova Set To Get Initial EU Nods On Membership Path – BBG https://t.co/KW2Ky05FIh
— LiveSquawk (@LiveSquawk) June 17, 2022
Macron backs Romania’s stalled bid to jumpstart Schengen entry https://t.co/OKoOSYqFCJ pic.twitter.com/ML24D1xDcW
— Zoe Schneeweiss (@ZSchneeweiss) June 17, 2022
Other Areas And Global Economy
Due to Russia’s #war in Ukraine, inflationary pressures have risen in many countries. Higher prices are eroding real income & undermining purchasing power, esp. of poorer households.
— OECD Economics (@OECDeconomy) June 16, 2022
Read our latest #EconomicOutlook to find out more ➡https://t.co/rTVMmO6C3g pic.twitter.com/qq5PhRIuJn