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December 19th - According to a recent report by The Washington Post (December 15th), sources revealed that senior officials at the U.S. Department of Defense are developing a plan to downgrade several major U.S. military commands. The report states that if approved, this would be one of the most significant changes to the U.S. militarys top power structure in decades. Experts analyze that this restructuring plan by the Department of Defense is in preparation for a "strategic shift."Fitch Ratings: Bankruptcies in the U.S. industrial, manufacturing, aerospace, and defense sectors remain extremely rare.On December 19th, local time, Russian Presidential Press Secretary Dmitry Peskov stated on the 18th that a solution to the Ukraine crisis could involve "multiple economic issues." He emphasized that he did not wish to reveal further details because "mediation work should be conducted quietly and privately." Peskov also stated that Russia is not interested in rejoining the G7 and believes that the groups model is outdated.NVIDIA (NVDA.O): The NVIDIA RTX PRO 5000 72GB BLACKWELL GPU is now available.On December 19th, Bank of England Governor Andrew Bailey stated on Thursday that UK inflation is expected to return to near the 2% target level by April or May next year, about a year earlier than previously anticipated. Bailey said he was "very encouraged" by the decline in inflation since the middle of this year. "I think were likely to remain around that level for the next few months. But we expect another significant drop in the spring, around April or May, and hopefully inflation will be back near the target by then." He pointed out that the one-off factors that pushed up inflation in April will be removed from the annual year-on-year calculation next spring, while measures introduced by Chancellor Reeves in the budget may temporarily suppress inflation by up to 0.5 percentage points. Its worth noting that the Bank of Englands forecast in early November showed that inflation would remain above the 2% target until the second quarter of 2027. "Its encouraging that well be back to the target sooner than previously expected. All of this is very positive. To me, thats certainly a strong justification for todays rate cut," Bailey said. He also stated that interest rates are gradually approaching a "neutral level," and the pace of future rate cuts may slow.

WTI bulls move in on supply side concerns, but the Fed looms

Alina Haynes

Dec 13, 2022 14:28

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On Monday, the price of West Texas Intermediate, or WTI, crude oil increased as supply-side concerns outweighed fears of weakening demand. At the time of writing, WTI is trading at $73.40, a 0.1% increase from its low of $73.27. It has risen from a low of $73.27 to a high of $73.51.

 

Despite the upcoming US consumer Price index and Federal Reserve meeting, supply concerns have trumped recession concerns in the most recent sessions. The Fed is likely to raise interest rates by 50 basis points on Wednesday, following the release of today's inflation data from other U.S. states, which might bolster the Fed's reputation.

 

"Core prices likely increased by 0.3% month-over-month in November, for the second consecutive month. We anticipate that goods deflation will once again serve as a counterbalance to shelter inflation. Importantly, the November decline in gas prices is anticipated to bring respite to the CPI. Overall, our m/m predictions imply a 7.3%/6.1% YoY increase in total/core pricing," TD Securities analysts stated.

 

The money markets presently assign a probability of about 75% that the US central bank would raise rates by 50 basis points following four consecutive rate hikes of 75 basis points. However, other observers believe that the event will have a hawkish consequence.

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