Macro Briefing: 6 December 2023

* More oil output cuts possible for OPEC+, says Russia
* US will work with other nations to accelerate nuclear fusion viable energy source
* Water consumption in tech is surging to support growing AI use
* Despite market rallies, tax-efficient ETFs set for minimal distributions for 2023
* Global Composite PMI, a GDP proxy, indicates weak growth in November
* US ISM Services Index picks up in November, indicates moderate growth
* US job openings fall in October to lowest level since March 2021:

Economists expect Fed to leave rates unchanged for longer than market predicts, according to a new survey by Financial Times. “The US central bank will hold off on interest rate cuts until at least July 2024 and deliver less relief than financial markets expect. While most of those surveyed thought the rate-raising phase of the Federal Reserve’s historic monetary tightening campaign was now over, almost two-thirds of the respondents thought the central bank would only begin to cut its benchmark rate by the third quarter of 2024 or later.”

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