On November 17, local time, Fed officials hinted that the action of hiking interest rates in order to slow inflation is far from over. On Thursday, US stock opened a sharp drop.
Comprehensive CCTV news, on November 17 local time, the Russian Ministry of Foreign Affairs issued an announcement stating that the overseas transportation agreement for agricultural products at the port of Black Sea is automatically postponed for 120 days; the Ukrainian army is building fences on the border areas of the two countries.
The Federal Reserve put "eagle" and US stocks opened lower.
November 17, according to Wind data, the three major U.S. stock indexes collectively opened and opened lower. The Dow fell 0.9%, the Nasdaq fell 1.55%, and the S&P 500 index fell 1.21%.
St. Louis Federal Reserve President James Bullard said Thursday that the Fed has a lot of work to do before controlling inflation. As a voter for the Federal Open Market Committee (FOMC), which sets the interest rate, Brad insists that the measures taken by the Fed so far are not enough. He said policy rates are not yet in a range that may be considered strict enough.
Brad believes that 5% may be the lower limit that federal funds interest rates need to reach, and the upper limit may be closer to 7%. This is very different from the current market pricing, which shows that the highest level of federal funds rate is around 5%. Dan Avigad, partner and portfolio manager at Lansdowne Partners, said at the Sohn London investment conference that as central banks in various countries seek to curb demand to curb inflation, corporate profit margins will also have to be compressed from the current "very high level". Avigad said: "If we look back at the trends over the past few decades, our returns are still about 20% higher than the long-term trend. So in my opinion, the returns of the broader stock market are likely to be overvalued by 15%-20%. "
NetEase opens to rise more than 1%
NetEase's US stocks open to rise more than 1%. Previously, Blizzard announced that it would suspend cooperation with NetEase and suspend most Blizzard game services in mainland China. NetEase responded that the revenue and profits of and accounted for only single digits of the business contribution.
Image source: Wind
On the other hand, the China State Administration of Press and Publication today released the first batch of domestic game version number in November, and companies such as NetEase, Tencent are listed.
Goldman Sachs raises the Fed's terminal interest rate expectations
Goldman Sachs economists led by Jan Hatzius said that the Fed's policy interest rate peak is expected to increase from the previous 4.75% to 5% to the 5% to 5.25%. Goldman Sachs expects the Fed to raise interest rates by 50 basis points in December, followed by an increase of 25 basis points in February, March and May respectively. The
report shows that the team believes that the monetary policy that curbs price increases has a greater burden, partly because "the fiscal tightening has basically ended." With the end of the epidemic relief plan, government spending has dropped sharply this year. But as household income climbs again, "consumer spending may accelerate overtime again."
Economists said: "Inflation may remain unsettling highs for a period of time, which may put pressure on the Fed and they may have to make a small rate hike for a longer period of next year."
Musk may step down as Tesla CEO O
According to media reports, Tesla company director James Murdoch testified in court that day that day that CEO Elon Musk has identified a potential successor to lead the electric car maker in the past few months.
reported that Murdoch testified in a case about Musk's 2018 Tesla company compensation package. He did not name the potential successor. When a plaintiff's attorney asked him to confirm that Musk had never determined someone was a potential CEO successor, Murdoch said: "He has actually confirmed it." He also said that this happened "in the past few months."
report also said that some Tesla investors are worried that since Musk is currently running the Twitter website, can he focus enough on playing the role of CEO of the world's most valuable automaker. Murdoch testified that Musk had put some of Tesla engineers on Twitter and the board is monitoring the situation.
Russia agreed to technically extend the Black Sea agricultural product transportation agreement
On November 17th local time, the Russian Ministry of Foreign Affairs issued an announcement stating that the Black Sea port agricultural product transportation agreement will be automatically postponed for 120 days.
The Russian Foreign Ministry said that the Quadruple Agreement signed in Istanbul on July 22 will expire on Istanbul . The agreement provides that it will automatically extend for 120 days without any party objection.
announcement stated that it had not received any relevant objections, and the Russian side therefore agreed to technically extend the "Black Sea Initiative" without any changes in its time and scope.
announcement pointed out that Russia has clearly and frankly emphasized and continues to emphasize a package agreement on Ukraine’s food exports and the effective implementation of the Memorandum on the Normalization of Russian Agricultural Products.
Russia said it had noticed the work done by the UN Secretariat to fulfill its commitments in this regard, as well as the temporary achievements provided by the UN to Russia on eliminating barriers to export fertilizers and food from Russia. All these issues should be resolved within 120 days of package transaction being extended.
Russia once again reminds that the approximately 300,000 tons of Russian fertilizers at the ports of the EU countries were donated by Russia to developing countries in need, and further delaying the delivery of these emergency materials is unacceptable.
The Russian Foreign Ministry finally stressed that any attempt to use the Black Sea Humanitarian Corridor for provocative military purposes will be firmly opposed.
On November 17th local time, the Belarusian Border Force said that the Ukrainian army is building reinforced concrete fences on the border areas of the two countries.
On November 17th local time, Ukrainian Electric Power Company said that 40% of users across the country were powered off.
Edit: Ye Song
