Wolf Money(world market review 18-24 Oct 2021)
Tay Boon Ping Singapore 1936 Teh Tarik Seller circa 1969 Collection of National Gallery Singapore Market Summary 18-24 Oct 2021 🇺🇸 🇺🇸 🇺🇸 🇺🇸 🇺🇸 + US business activity increased solidly in Oct, though labour n raw material shortages held back manufacturing: IHS Markit + Powell says ‘premature’ to up rates despite inflation risk + US budget deficit shrank in Sept to US$62bn from US$125bn YoY, smallest since Jan 2020 + Biden said close to striking a deal to pass major infrastructure, social spending measures, n corporate tax hikes unlikely - Democrats to target businesses, wealthy individuals for new revenue to pay for US$2 trillion social-policy and climate package - Fed’s Bostic: supply chain disruptions, labour market constraints, strong consumer demand could keep inflation high into 2022 + US jobless claims totalled 290,000, below 300,000 DJ estimates, at 19-mth low + US sealed agreement to end European digital taxes on American tech giants + US holds 3 tests to a