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On July 11, Iranian Parliament Speaker Mohammad Ghalibaf announced on social media that those responsible for the killing of Ali Khamenei would be held accountable. Ghalibaf emphasized that those responsible for attacks on Iranian territory, the killing of Iranian citizens, and especially the murder of Ali Khamenei, would be punished. The funeral for the late Supreme Leader Ali Khamenei was held on July 9 in Mashhad, his birthplace in northeastern Iran.On July 11, the Ministry of Civil Affairs issued a notice requiring local civil affairs departments to make every effort to carry out flood prevention and disaster relief work. The notice requires that social forces be guided and regulated to participate in disaster relief in a scientific and orderly manner. It calls for active cooperation with emergency management and other departments to guide social organizations in the emergency rescue field to leverage their professional advantages, connect with social resources, and coordinate flood prevention and disaster relief work in an orderly and collaborative manner. It also requires guiding charitable organizations to proactively connect with the needs of disaster areas, conduct disaster relief charitable donations in accordance with laws and regulations, promptly allocate donated funds and materials, and ensure information disclosure.July 11 - According to data from Lighthouse Pro, as of 8:34 PM on July 11, the daily box office revenue of the domestic film market exceeded 300 million yuan, marking the first time since February 26 this year that the daily box office revenue has exceeded 300 million yuan.July 11th - According to the official WeChat account of Hangzhou Metro, due to the impact of Typhoon Bavi (No. 9), Hangzhou City has activated a Level I typhoon emergency response. Starting at 6:00 AM on July 12th, the entire metro network will be suspended, with the resumption time to be announced separately.On July 11, Claudio Descalzi, CEO of Eni, the Italian state-owned holding group, stated that if the Middle East conflict continues, the global oil market will break through the current range of approximately $80 to $100 per barrel by the first quarter of 2027 at the latest, pushing up inflation and reducing energy demand. In an interview published Saturday in Il Sole 24 Ore, Descalzi said that the release of strategic reserves has so far helped keep crude oil prices roughly within this range, but this strategy is facing increasing risks because global reserves are finite. “The long-term solution is to enhance energy security through the diversification of supply sources and routes,” he said. Descalzi noted that global oil inventories have fallen by an average of 3.8 million barrels per day due to disruptions related to the war with Iran that began at the end of February, accelerating to an average of 4.6 million barrels per day in May. He stated that countries should focus on producers in North Africa and sub-Saharan Africa, Latin America, and Southeast Asia, while reducing reliance on controlled maritime routes.

The IMF/World Bank Meetings to Test Risk Appetite as Fed Hawks Swoon

Skylar Shaw

Oct 11, 2022 14:48

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Last week's US economic figures exceeded forecasts. The US employment data and higher-than-expected ISM Non-Manufacturing PMI statistics allowed the Fed to raise interest rates by 75 basis points in November. The World Bank and IMF have been keeping an eye on central bank and economic activities.


Since the Jackson Hole Symposium, the Fed has maintained its stance. Fed Chair Powell issued a warning in August about the Fed's commitment to achieving the target inflation rate.


Powell also dispelled any expectations of a policy change at the time by warning the markets that inflation would need to be controlled by a protracted period of below-trend growth and a weaker labor market.


The Jackson Hole speech's response from the market was identical to that of Friday's employment data. The Powell speech resulted in a 3.94% decline in the NASDAQ 100. In reaction to an increase in hiring and a drop in the US unemployment rate to 3.5% last Friday, the NASDAQ fell by 3.80%.


The cryptocurrency market, which fell by $78 billion in reaction to Powell's speech and $11.5 billion in response to the employment data, experienced a distinct situation. Notably, the employment data offers the Fed leeway to aggressively front load rates. The crypto market was more affected by US inflation data.

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