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On December 29, the Eastern Theater Command of the Chinese Peoples Liberation Army organized destroyers, frigates, fighter-bombers, and other forces to conduct exercises in the sea and airspace east of Taiwan Island, including maritime strike, regional air superiority, and anti-submarine warfare, testing the sea-air coordination and precision targeting capabilities.December 29th - According to Kyodo News, the proportion of foreign residents in Japan is approaching the 10% threshold at a rate far exceeding official forecasts, with dozens of municipalities already surpassing this figure. One village reported that more than one-third of its residents are foreign nationals. In July of this year, then-Justice Minister Keisuke Suzuki stated that by around 2040, the foreign population in Japan is expected to exceed 10% of the total population. Japans labor shortage problem is projected to worsen.Sources say India is suing Reliance Industries and BP for $30 billion over insufficient production from its gas fields.On December 29, the Eastern Theater Command of the Chinese Peoples Liberation Army organized destroyers, fighter-bombers, drones, and other forces in the northern and southwestern sea and airspace of Taiwan Island, along with long-range firepower, to conduct training exercises including sea-air search and destruction, simulated land attack, and live-fire exercises against sea targets. The exercises tested the PLAs integrated coordination and capability to seize control.On December 29th, the fourth meeting of the Standing Committee of the First Non-Motor Property Insurance Professional Committee of the Insurance Association of China was held in Beijing. Representatives from 24 standing committee member units, including the committees chairman, PICC Property & Casualty Insurance, attended the meeting, which was chaired by Zhang Liang, member of the Party Committee and Vice President of the Insurance Association of China. The meeting reviewed and approved a proposal to promote research on model clauses and rates for corporate property insurance and employers liability insurance. The meeting believed that the committee should focus on key and difficult issues in the comprehensive governance and development of non-motor insurance, and take proactive measures through establishing working groups to strengthen industry self-regulation, formulate model clauses, deepen industry research, promote information sharing, and conduct publicity and exchange, thereby reshaping industry rules and image and serving the healthy and sustainable development of the non-motor insurance market. The meeting pointed out that the committee should strengthen its own construction, focusing on the associations overall goal of "serving the industry well, assisting in supervision well, and contributing well to society," anchoring its responsibilities, strengthening self-discipline and collaboration, improving the evaluation and supervision mechanism, and effectively playing the functional role of the committee.

S&P 500, Dow Jones, Nasdaq Directional Fate Tied to CPI After NFP Selloff

Steven Zhao

Oct 10, 2022 14:28

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Major indices fell quickly after an in-line US employment data as the print increased the likelihood of a 75-basis point rate rise to almost 100%, per Fed funds futures and overnight index swaps (OIS). Fed funds futures had an 87.8% likelihood of a 75-bps raise at the November 02 FOMC before the NFP. After the story hit the wires, those chances rose to 96%.


The policy-sensitive 2-year yield increased by around eight basis points during the New York trade day as Treasury rates increased throughout the curve. Given that rates are at multi-year highs, which typically drive investment into the "virtually risk-free" securities, the lack of demand for government bonds is raising concerns for some investors.


Due to a holiday on Monday, the US bond market will be closed, which might increase market volatility. The auction program for later next week includes sales of 3-year, 10-year, and 30-year Treasury bonds totaling around $90 billion. Even if a modest desire for debt is predicted, these auctions might provide valuable knowledge. This might result in higher yields and more pressure on stocks.


However, the consumer price index (CPI) for the United States is the market event with the largest visibility for both equities dealers and the international financial system. All eyes are on Jerome Powell, the head of the Federal Reserve, and what they have planned for the future. Analysts predict that core inflation, which includes food and energy, will increase from the previous year to 6.5%. It's easy to understand the CPI inflation figures in this case: A print that is higher than anticipated would probably cause the market to decline even more, supporting the Fed's stance against inflation, while a print that is lower than anticipated will probably have the opposite impact.

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