* Treasury Sec. Yellen warns US will reach its debt limit on Dec. 15
* Fed Chairman Powell’s inflation dashboard starting to show signs of overheating.
* US industrial production rebounded in October, rising for first time in 3 months
* Biden says he’ll make decision on Fed leadership within days
* Inflation in UK picked up to 4.2% year over year in October — a 10-year high
* Homebuilder sentiment continued rebounding in Nov after summer slump
* US retail spending accelerated in Oct, rising for third month beating estimates:

Early estimates of US economic output for the fourth quarter indicate a robust pickup in growth from the mild gain reported for Q3, according to recent nowcasts.

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* Biden signs $1 trillion infrastructure bill into law
* China’s Xi warns Biden about ‘playing with fire’ on Taiwan in virtual summit
* US jobless rate could drop to 50-year low soon, predicts Goldman Sachs
* Inflation expected to be key factor in tight Congressional races in 2022
* Rising crude oil supply could soon ease energy short, IEA predicts
* Biden’s decision on the next Fed chair is ‘imminent’
* Calpers, largest US pension fund, votes to use leverage and alternative assets
* NY Fed Mfg Index: sector growth strengthened in November
* Today’s Oct update for retail sales projected to maintain strong 1yr growth rate:

Shares in emerging markets topped returns for the major asset classes during the trading week through Nov. 15 12, based on a set of US-listed ETFs. But if interest rates are set to rise, triggered by higher inflation, the prospects for an extended rally could be short lived, or so market history suggests.

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* Expectations are low for today’s virtual meeting between Biden and China’s Xi
* Energy mkt disconnect could trigger shortages, predicts IHS Markit’s Yergin
* US Dollar Index pulls back after approaching 16-month high
* Will interest rates stay low forever? Yes, predicts manager at GAM Investments
* China’s new home prices post biggest decline since 2015
* UK economists expect Bank of England will raise rates in December
* Japan’s economy shrank in Q3, falling much more than expected
* Higher inflation will boost profits for some companies
* Gold at five-month high as inflation surges
* Cargo demand expected to boost aerospace industry, predicts Boeing exec
* Consumer Sentiment Index for US declines to a 10-year low in early November
* US consumer 1-year inflation expectations rise to highest level in over a decade:

● The Generation Myth: Why When You’re Born Matters Less Than You Think
Bobby Duffy
Summary via publisher (Basic Books)
Millennials, Baby Boomers, Gen Z—we like to define people by when they were born, but an acclaimed social researcher explains why we shouldn’t. Boomers are narcissists. Millennials are spoiled. Gen Zers are lazy. We assume people born around the same time have basically the same values. It makes for good headlines, but is it true? Bobby Duffy has spent years studying generational distinctions. In The Generation Myth, he argues that our generational identities are not fixed but fluid, reforming throughout our lives. Based on an analysis of what over three million people really think about homeownership, sex, well-being, and more, Duffy offers a new model for understanding how generations form, how they shape societies, and why generational differences aren’t as sharp as we think.

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Energy stocks and commodities have rallied sharply this year but remain on the short list for our deep-value list, based on relative rankings for a set of nearly 150 ETFs.

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* Urgent action on climate change requested at COP26 climate summit
* Belarus warns Europe he can cut gas supply over border dispute with EU
* Conflict over Belarus-Poland border crisis spills over to UN debate
* Record-high job openings reported in US since June, says jobs site Indeed
* Is the current inflation surge echoing the temporary 1946-48 price spike?
* The White House has a plan to slow inflation. Will it work? If so, when?
* Atlanta Fed’s GDPNow model nowcasts strong Q4 economic rebound:

The sharp slowdown in US economic growth in the third quarter (driven by weaker consumer spending) surprised economists, but the case for a rebound in Q4 is building. A key factor in the upbeat forecast: projections that consumer buying will bounce back. Next week’s update (Nov. 16) on retail sales for October is expected to offer more support for managing expectation up.

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* US and China announce climate agreement at COP26 summit
* Latest increase in US inflation raises odds for rate hike
* US dollar reaches 2021 highs against sterling and the euro on Thursday
* US wage gains in October evaporate after factoring in inflation
* Financial institutions may be new targets of climate litigation
* Belarus president threatens to Shut EU gas flow over border crisis
* UK GDP growth slowed in the third quarter
* US jobless claims fell again last week, setting another pandemic low
* US consumer inflation accelerated in October, reaching a 30-year high: