Macro Briefing: 4 October 2023

* Republicans remove House speaker, leaving chamber in chaos
* Rising Treasury yields threaten ‘soft landing’ scenario for US economy
* Two Fed officials say interest rates will likely stay high
* US auto sales rose in Q3 despite strikes and higher interest rates
* ‘Stalling and divergent’ global economy expected, UN trade division predicts
* Saudi Arabia says its oil production cuts will last through end of year
* US job openings post unexpected gain in August:

US 10-year/3-month Treasury yield curve rapidly un-inverting as long-term rates rise. “I think we’re gonna go to five [percent]” for the 10-year yield, says former Pimco bond fund manager Bill Gross.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.