* Biden issues executive order to steer some US investments away from China
* China rebukes Biden’s executive order that limits US investment in technology
* Downturn in world trade fuels concern of increasingly fractured global economy
* Central banks need to keep rates at roughly 5%, veteran economist predicts
* Average US mortgage rate rises to 7.02% — highest in almost 21 years
* Five bearish arguments that, so far, “haven’t worked”
* US Q3 GDP nowcast revised up to strong 4.1% via Atlanta Fed’s GDPNow model:
A new era of volatile food prices looms, analysts warn. A combination of extreme weather, war and rising trade barriers are creating greater vulnerabilities and less reliability in food supplies. “This is the new normal now, with more volatility and unpredictability, whether that’s in commodity prices or food prices,” says Dennis Voznesenski, a commodities analyst at Rabobank in Sydney, Australia.