Briefings

Archive December 2022

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Week InReview: December 30, 2022

Sticker shock.

Illustration: Bureau of Labor Statistics

Baking supplies and haircuts cost a lot more this year, while televisions and game tickets cost less.

 

Eggs, margarine, flour, and baking mixes each ranked in the top dozen products that rose in price the most in the past year, among those the Labor Department measures. Also recording price gains: airfares, gasoline and haircuts.

 

Meanwhile, televisions and tickets to sporting events were among the few items that got less expensive from late 2021.

 

— The Wall Street Journal

 

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Week InAdvance: December 26, 2022

Mon Dec 26 Christmas Day observed in the US and Europe (no bond or equity trading). UK markets closed for Boxing Day. | Tue Dec 27 UK holiday to observe Christmas (markets closed). | Thu Dec 29 US census data. | Fri Dec 30 US bond market closes early at 2 pm NY time.

 

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Week InReview: December 23, 2022

Unhappy holidays.

Asian equities face a gloomy end to the week after a slump in US tech stocks and more economic data validating the case for the Federal Reserve to keep hiking interest rates. Futures for shares in Hong Kong, Japan and Australia fell, along with an index of US-listed Chinese companies, after the S&P 500 closed down 1.5%. Tech stocks are heading for their worst December since the dotcom crash of 2002. On the flipside, these were the best-performing trades of 2022.

 

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Week InAdvance: December 19, 2022

Mon Dec 19 1st day of Hanukkah. House Jan. 6 committee votes. | Wed Dec 21 Winter Solstice. House Jan. 6 committee may release findings. | Fri Dec 23 US bond markets close at 2 pm for an early start to the Christmas break. Stock markets operate on a normal schedule.

 

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Week InReview: December 16, 2022

More pain.

Asian stocks are poised to drop after hawkish signals from central banks sparked a rout in US and European shares and a rally in the dollar. The S&P 500 closed at its lowest level in more than a month and the dollar climbed the most since September as investors sought haven assets after warnings by the Federal Reserve and the European Central Bank of more pain to come.

 

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Week InAdvance: December 12, 2022

Mon Dec 12 Golden Globes. | Tue Dec 13 US lawmakers probe FTX collapse. US-Africa summit. US CPI. | Wed Dec 14 SEC vote on equity market proposal. US FOMC rate decision. | Thu Dec 15 ECB rate decision. BOE rate decision. | Fri Dec 16 FSOC meeting. 'Triple witching' day. | Sun Dec 18 UN International Migrants Day.

 

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Week InReview: December 9, 2022

Heading higher.

Asian stocks are poised to rise after US shares posted their first gain of December, with traders awaiting key inflation figures in China and the US. Equity futures for Australia, Japan and Hong Kong rose following a rebound in the S&P 500. Friday’s producer price index for November – which fell more than expected the previous month – is one of the final pieces of data Federal Reserve policymakers will see before their December policy meeting, while consensus is for China’s inflation indexes to have headed down last month.

 

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Week InAdvance: December 5, 2022

Mon Dec 5 ECOFIN meets in Brussels. | Tue Dec 6 Diversity, inclusion & the workforce in the House. | Wed Dec 7 CFTC to focus on agricultural economy. | Thu Dec 8 SEC's Investor Advisory Committee meets. | Fri Dec 9 US PPI. | Sat Dec 10 International Human Rights Day.

 

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Week InReview: December 2, 2022

Fed aftermath.

Fed Chair Jerome Powell on Wednesday night signaled the central bank will slow the pace of interest-rate increases next month, while stressing borrowing costs will need to keep rising and remain restrictive for some time to beat inflation. While that sentiment was very much in line with expectations, the confirmation that a calmer pace of hikes is imminent sparked a rally in global stocks and pushed the dollar to a three-month low. As Sarah Hewin, senior economist at Standard Chartered, put it, the upshot is “there is no one-way bet any more on dollar strength.''

 

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