della serie "shocking news":
Yellen says price cap on Russian oil will benefit China (reuters)
stupore... sarebbe bello che qualcuno chiedesse alla EU "e allora perche' insistete?" ma vabbe'
US Finds Others Aligned Against It in Saudi-Sparked Oil Row (YF)
When US President Joe Biden accused Saudi Arabia of siding with Russia over oil, Riyadh cast itself as an emerging power that stands up to Washington and looks after its own interests - and that's been winning cheerleaders. (...) The oil row exposes a broader shift, with countries willing to push back against or question US influence, even if that runs counter to their immediate economic interests.esempi recenti di "cheerleaders" che vanno "counter to their immediate economic interests":
1) india:
At top-level meeting in Sept, Govt took call to double Russia trade (Indian express)
(nota: faranno tutto senza usd) la cosa divertente e' che gli indiani hanno reso questi accordi di pubblico dominio dopo che uno dell'amministrazione biden in un press briefing ha spiegato all'india che il suo interesse nazionale sta nel recidere i rapporti con la russia:
Department Press Briefing – November 8, 2022 (state.gov)
There have been a number of countries that have learned the hard way of the fact that (...) Russia is far from reliable in any realm. So it is not only (...) of the collective interests that India decrease its dependence on Russia over time, but it's also in India's own bilateral intereste casualmente, un paio di giorni dopo, esce quella notizia... (consiglio: andate a rileggere gli editoriali sui
veri rapporti fra russia e india usciti dopo l'incontro Putin-modi a Samarcanda)
2) jpn:
Japan retains stake in Russia's Sakhalin 1 oil project (mainichi)
quindi il jpn, che avrebbe potuto tirarsene fuori, ha deciso di restare a sakhalin-1, che ora e' una partnership a 3 rus-india-jpn (ricordiamo sempre che il jpn si e' tirato fuori da qualunque misura anti-russi sull'energia del g7, quindi ogni volta che leggiamo g7 in realta' e' g6)
3) Cina, India (ancora), Turchia e altri in Asia:
The Great Russian Oil Switch Is Gathering Momentum (YF)
(consiglio: andate a rileggere gli editoriali che sostenevano che, per mille motivi dottissimi, la russia non avrebbe mai potuto sostituirci con altri compratori di energia, proprio per un fatto aritmetico...) e ovviamente
Russian gas supplies to China paid in yuan and rubles — Novak (tass)
supplies of oil and petroleum products are also being proactively shifted to national currencies4) polonia:
Poland wants to buy Russian oil next year despite plans to abandon it — Kommersant (tass)
The largest Polish oil refinery Orlen has submitted an application to Russian oil pipeline operator Transneft for the supply of 3 million tons of Russian oil through the Druzhba pipeline in 2023, despite plans to abandon Russian oil purchases, the Kommersant business daily reported on Wednesday, citing sources. (...) Despite the imminent start of the EU embargo on Russian oil (comes into force on December 5), "the organization of supplies is going as planned," the company's representative added.5) USA:
US Quietly Asks Banks to Keep Some Ties With Russia, Even as Congress Balks (bloomberg)
+ ovviamente anche noi europei ma non si dice (l'ultima e' quella sulle assicurazioni delle petroliere e sui tratti di mare chiusi alle navi che hanno assicurazioni di paesi EU, cosa che fra qualche settimana secondo me ci dara' molti titoli divertenti sulla turchia)
Dal pianeta in cui opera la Fed:
Dollar Gains on Hawkish Fed Comments (globe & mail)
Minneapolis Fed President Kashkari said he's not seeing much evidence of underlying demand cooling and that the Fed is "not there yet" on ending its progression of interest rate hikes.quindi la fed dice che la domanda in usa non sta calando. intanto:
Ocean freight orders are signaling a big drop in consumer demand (Cnbc 3 ott 22)
The global shipping industry is facing a new problem — too many containers (Cnbc nov 22)
Italian container depot owner Sogese chief executive Andrea Monti told Container xChange his depots are full. "Whatever was coming in and out of, for instance, our Milan depot is quite stuck. And the container volume at the depots is increasing to an extent that we are returning some requests for depot service agreements." "We are in a situation where we are not able to accept new clients for some locations." (...)
"We know already that the market is bearish on consumer demand because of multiple factors like recessionary fears and inflationary risks," a Container xChange spokeswoman told CNBC. "So of course, there is a significant dent in consumer demand which then leads to less demand for freight and cargo, and therefore, a proportionate dent in container demand globally." Shippers are giving containers away to reduce crowding at depots while many have resorted to blank sailings, Container xChange added.(Bearish = in calo)
FedEx Freight to begin driver furloughs next month (freightwaves)
furlough=cassa integrazione. l'america funziona tramite lo spostamente di merci su ruote di gomma mosse da motori diesel. il fatto che fedex riduca l'organico significa che si consuma di meno.
Amazon founder Jeff Bezos warns a recession is looming - and Americans should 'prepare for the worst' (MI)
nota: amazon sta licenziando 10k persone in usa (la fine delle vacche grasse della pandemia ha fatto venire fuori i veri costi della logistica ora che si consuma di meno)
The cracks in the US Treasury bond market (FT)
The fact the Treasury department has begun discussing the prospect of buying back some of the most illiquid Treasury bonds, says HSBC's Major, is an implicit acknowledgment that faltering demand has begun to cause problems.eccetera eccetera. insomma la fed fa una cosa da una parte e la treasury discute di fare il suo opposto dall'altra, tipo BCE e governi europei. in europa la commedia e' durata 6 mesi (marzo-settembre) ed e' finita quando la germania si e' sganciata. in usa e' all'inizio. vediamo quanto dura.
(per ora stendo un velo pietoso sulla vicenda FTX-Ucraina...)
Altro:
Exclusive: Germany steps up emergency cash plans to cope in blackout (reuters)
"Danger of de-industrialization in Germany is real" (die welt)
intervista al capo dell'SPD, il partito di Scholz
U.K. economy in recession for first time since 2008 (cnbc)
At the heart of Hunt's proposals is a painful mix of tax increases and public spending cuts, aimed at filling what economists have described as a "massive black hole" in the government's finances — a gap of about $64 billion. (...) In taxation, the threshold to trigger payment of the top income tax rate, 45%, will fall from £150,000 to just over £125,000 per year. That and other thresholds were to be frozen for two years, which means that as people make more money — wages are up 5.5% year on year, though not keeping up with inflation at 11.1% — millions of people will eventually be pushed into higher tax brackets. (...) "The overall result, therefore, is that fiscal policy will be tightened materially next year, amplifying the recession already underway," Samuel Tombs, Chief U.K. Economist at Pantheon Macroeconomics, said in an analysis.U.S. judge strikes down Biden's student debt relief plan (reuters)