* US government shutdown risk in focus for September 30
* Over half (56%) of US employees say they use AI at work, survey finds
* US mortgage applications fall to lowest level since 1996
* Tech CEOs tell US senators it’s time to regulate AI
* Will Google antitrust trial lead to major changes for tech industry?
* Business inflation expectations unchanged at 2.5% in Sep: Atlanta Fed
* US consumer inflation rebounds in August to 3.7% annual rate:
Some analysts who favor one or two indicators to forecast US recessions have had a rough year. The reliance on a generally robust predictor may yet prove its worth in the months ahead. But so far the months-long calls by some pundits that recession is near have been wrong, or at least premature.
* United Auto Workers union plans for possible targeted worker strikes
* Congressional panel urges Wall Street execs to curb US investments in China
* European Union launches probe into China subsidies for electric vehicles
* Writers sue Meta AI Platform for copyright infringement
* UK economy shrinks in July at fastest pace in 7 months
* Real household incomes for Americans fell for third straight year in 2022:
Current yields continue to show signs of peaking, based on a broad review of the major asset classes via a set of proxy ETFs. In each of our periodic updates of yields so far this year, the numbers reflect a decline from the previous review.
* US government shutdown risk in focus as House returns today
* US sets record in 2023 for weather disasters that cost $1 billion-plus
* US consumers worry about access to credit: NY Fed survey
* Central banks look set to keep rates elevated to tame inflation
* Change in policy at Bank of Japan could be factor in pushing up US yields
* US household wealth rises to record $154.3 trillion in Q2
* US small business optimism ticks lower in August, holding near decade low:
Global markets have enjoyed a strong rebound this year following 2022’s rout, but recent turbulence suggests that previous highs reached will remain elusive for the near term.
* Fed expected to pause rate increases in September and then reassess outlook
* US consumer spending set to peak, survey predicts
* Germany looks set to be only major European economy in recession this year
* China deflation eases in August as consumer prices rise
* Huge lithium deposit–key component in electric batteries–discovered in US
* Google antitrust trial re: its search engine business starts this week
* Wall Street cuts recession forecasts as US economy hums along:
Simon Schama
Review via The Economist
The first recorded vaccine—for smallpox—was administered by Edward Jenner, an English doctor, in 1796 to an eight-year-old boy, James Phipps. Jenner (pictured) took fluid from the lesions of a dairymaid who had become infected with cowpox and used it to inoculate Phipps against cowpox and smallpox.
That people could become immune to diseases after being exposed to them had been known for more than a thousand years before Jenner carried out his experiments. But the idea that people could be purposely infected as a way to ward off future illness, though ancient, took a surprisingly long time to spread and become accepted around the world.
Few assets confuse and confound the average investor as much as gold. But there’s an easy solution for cutting through the noise and thinking rationally about how the metal can fit into a broader asset allocation strategy: It’s money and should be treated as such.
* Biden’s options limited for preventing possible strike by auto workers
* Biden arrives at G20 meeting in India today–closer US-India ties on agenda
* The record-long slide in 1yr US home prices may be over
* Small- and mid-size business optimism rises to 21-Year High
* US banking industry “continues to face significant downside risks”: FDIC chair
* China’s currency falls to 16-year low vs. the US dollar
* Solar installations in US expected to reach record level this year
* US jobless claims fell to 7-month low last week:
