Macro Briefing: 10 November 2023

* Congress has no plan to avoid a government shutdown on Nov. 17
* Powell says Fed ‘not confident’ it has done enough to tame inflation
* Global trade data suggests worst of downturn has passed
* Int’l diversification is worth a new look after a strong run for US markets
* China’s ICBC, world’s biggest bank, hit by cyberware attack
* US jobless claims tick down, holding near multi-decade low:

Policy-sensitive US 2-year Treasury yield rebounds above 5% after Fed Chairman Powell’s hawkish comments. “We know that ongoing progress toward our 2% goal is not assured: Inflation has given us a few head fakes,” he said on Thursday at a conference. “If it becomes appropriate to tighten policy further, we will not hesitate to do so.”