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On February 14th, Chinese Foreign Minister Wang Yi, speaking at the Munich Security Conference in Germany, addressed China-US relations, pointing out two possible scenarios. One is that the US objectively and rationally understands China, pursues a positive and pragmatic policy towards China, and works with China to continuously expand common interests, leading to future cooperation between the two countries. This would undoubtedly be of great benefit to both China and the US, as well as the world. The other scenario is that the US decouples from China, opposes anything related to China, forms various cliques and groups targeting China, and even incites or plots Taiwan independence and the division of China, crossing Chinas red lines. This would lead to confrontation between China and the US. History progresses through twists and turns, and the future of China-US relations is bright. The vision and principles of mutual respect, peaceful coexistence, and win-win cooperation will ultimately be realized, because this is the only correct choice.French Foreign Minister Barro: Some G7 members have indicated their willingness to move forward with the ban on shipping services for Russian oil.NATO Secretary General Rutte: Russias oil revenues have fallen by a third, rapidly depleting its sovereign wealth fund.On February 14th, in response to recent online complaints about "tickets available for long-distance journeys but not for short-distance journeys," a representative from the 12306 Railway Technology Center advised passengers with short-distance travel needs to avoid purchasing tickets for sections of long-distance trains. If a section of a long-distance train is indeed necessary, passengers should submit a waitlist order when "no tickets available" is displayed, and utilize up to 60 combinations of "date + train number" for ticket purchase.On February 14, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, delivered a speech and answered questions at the 62nd Munich Security Conference. When discussing China-EU relations, Wang Yi stated that China and the EU are partners, not adversaries. He quoted Confuciuss famous saying, "A gentleman seeks harmony but not uniformity," expressing his hope that both China and the EU would act and follow the path of gentlemanly conduct. Wang Yi said that China and the EU should join hands to practice multilateralism, uphold the authority of the United Nations, oppose unilateral bullying, and resist bloc confrontation.

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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