Biden to Hit China with Broader Curbs on U.S. Chip and Tool Exports

China-U.S. Relations

Summary:

The Biden administration plans next month to broaden curbs on U.S shipments to China of semiconductors used for artificial intelligence and chipmaking tools, several people familiar with the matter said.

The Commerce Department intends to publish new regulations based on restrictions communicated in letters earlier this year to three U.S. companies -- KLA Corp, Lam Research Corp and Applied Materials Inc, the people said, speaking on the condition of anonymity.

The letters, which the companies publicly acknowledged, forbade them from exporting chipmaking equipment to Chinese factories that produce advanced semiconductors with sub-14 nanometer processes unless the sellers obtain Commerce Department licenses.

The rules would also codify restrictions in Commerce Department letters sent to Nvidia Corp and Advanced Micro Devices last month instructing them to halt shipments of several artificial intelligence computing chips to China unless they obtain licenses.

Some of the sources said the regulations would likely include additional actions against China. The restrictions could also be changed and the rules published later than expected.

So-called "is informed" letters allow the Commerce Department to bypass lengthy rule-writing processes to put controls in place quickly, but the letters only apply to the companies that receive them.

Turning the letters into rules would broaden their reach and could subject other U.S. companies producing similar technology to the restrictions. The regulations could potentially apply to companies trying to challenge Nvidia and AMD's dominance in artificial intelligence chips.

Intel Corp and startups like Cerebras Systems are targeting the same advanced computing markets. Intel said it is closely monitoring the situation, while Cerebras declined to comment.

One source said the rules could also impose license requirements on shipments to China of products that contain the targeted chips. Dell Technologies, Hewlett Packard Enterprise and Super Micro Computer make data center servers that contain Nvidia's A100 chip.

Dell and HPE said they were monitoring the situation, while Super Micro Computer did not respond to a request for comment.

A senior Commerce official declined to comment on the upcoming action, but said: "As a general rule, we look to codify any restrictions that are in is-informed letters with a regulatory change."

A spokesperson for the Commerce Department on Friday declined to comment on specific regulations but reiterated that it is "taking a comprehensive approach to implement additional actions...to protect U.S. national security and foreign policy interests," including to keep China from acquiring U.S. technology applicable to military modernization.

Liu Pengyu, a spokesperson for the Chinese Embassy in Washington, said on Tuesday that China opposes the United States'"abuse of export control measures to restrict the export of semiconductor-related items to China." The upcoming restrictions violate international trade rules, harm global growth and hurt U.S. and Chinese companies, he said.

KLA, Applied Materials and Nvidia declined to comment while Lam did not respond to requests for comment. AMD did not comment on the specific policy move but reaffirmed it does not foresee a "material impact" from its new licensing requirement.

'Choke point'

The planned action comes as the President Joe Biden's administration has sought to thwart China's advances by targeting technologies where the United States still maintains dominance.

"The strategy is to choke off China and they have discovered that chips are a choke point. They can't make this stuff, they can't make the manufacturing equipment," said Jim Lewis a technology expert at the Center for Strategic and International Studies. "That will change."

In an update on China-related measures last week, the Chamber of Commerce, a U.S. business lobbying group, warned members of imminent restrictions on AI chips and chipmaking tools.

"We are now hearing that members should expect a series of rules or perhaps an overarching rule prior to the mid-term election to codify the guidance in recently issued (Commerce Department) 'is-informed' letters to chip equipment and chip design companies," the chamber said.

The group also said the agency plans to add additional Chinese supercomputing entities to a trade blacklist.

Reuters was first to report in July that the Biden administration was actively discussing banning exports of chipmaking tools to Chinese factories that make advanced semiconductors at the 14-nanometer node and smaller. Tech news outlet Protocol reported plans to turn the letters sent to toolmakers into a regulation last month. Other elements of the rules, including the curbs on AI chip exports and the October release date, were first reported by Reuters.

U.S. officials have reached out to allies to lobby them to enact similar policies so that foreign companies would not be able to sell technology to China that American firms would be barred from shipping, two of the sources said.

"Coordination with allies is key to maximizing effectiveness and minimizing unintended consequences," Clete Willems, a former Trump administration trade official said. "This should favor broader regulations that others can replicate instead of one-off 'is informed' letters."

Source: Reuters

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Winkelmann

U.S. soybean exporters have a respectable sales record to start the new marketing year, but the shrinking U.S. crop, questionable Chinese demand and South American competition are all threats for future bookings.

The same factors pressure U.S. corn exports, though the latest sales levels are already lackluster ahead of the U.S. harvest.

Technical issues have prevented the U.S. Department of Agriculture from publishing weekly U.S. export data for nearly a month, but data resumed on Thursday featuring four weeks of sales ended Sept. 8. The data drought spanned marketing years as 2022-23 began on Sept. 1 for corn and soybeans.

Soybean sales for 2022-23 in those four weeks beat market expectations at 5.75 million tonnes, and 83% was to either China or unknown destinations. Estimates ranged from 2.5 million to 5.3 million.

Total 2022-23 soybean sales stood at 25.3 million tonnes as of Sept. 8, second-best for the date after 2020 and driven partly by significant Chinese buying back in January and February.

The Sept. 8 total covers an above-average 45% of USDA's full-year export forecast of 2.085 billion bushels, reduced from 2.155 billion earlier this week as U.S. harvest prospects plunged.

A year ago, soybean sales covered 39% of USDA's September export projection, and 2021-22 exports are currently estimated 3% above that year-ago forecast, largely on Brazil's crop shortfall.

Brazilian farmers began planting their potential record soybean crop on Thursday, though those supplies will not directly compete with U.S. ones for a few months. But Argentine beans are unexpectedly cramping U.S. business this month after the government incentivized soy sales through a favorable exchange rate.

Argentina is the top exporter of soybean products and a smaller supplier of raw beans. But China, its top bean buyer, may have secured upward of 1.5 million tonnes (55 million bushels) so far this month for shipment this month or next.

That would cover just 1% of China's expected 2022-23 soybean use, but it represents a notable portion of potential U.S. exports. September and October U.S. shipments to China will exceed 8 million tonnes in normal years.

Chinese soy import estimates for 2022-23 have been easing in recent months as lockdowns have limited demand recovery. This plus China's opportunistic Argentina bookings and a monster crop looming in Brazil may mean U.S. soy supplies tighten to a less-than-expected degree despite crop losses.

USDA has not announced any daily export sales of U.S. soybeans or corn in the latest week.

Corn

For the 2022-23 marketing year, U.S. corn sales in the four weeks ended Sept. 8 reached 2.465 million tonnes, within the range of estimates from 1.7 million to 3.4 million.

That brings total 2022-23 corn sales to 12.3 million tonnes, some 21% of USDA's 2.275-billion-bushel outlook, the third-lowest coverage rate by the same date since at least 2007.

U.S. corn sales were standout at this point in the last two years, so this year is weak by comparison. Total corn commitments are down 50% on the year and down 38% from two years ago, but those margins shrink to 29% and 18% when removing China from the mix.

China was a big driver of early U.S. corn sales in the last two years, but they are weaker now. Chinese purchases as of Sept. 8 totaled 3.36 million tonnes, down 72% from a year ago and off 63% from the same date in 2020.

Both USDA and China's agriculture ministry peg 2022-23 Chinese corn imports at 18 million tonnes, but USDA's peg is down from an estimated 23 million in the prior year versus China's 2021-22 figure of 20 million.

Non-China U.S. corn sales are historically sluggish at 8.9 million tonnes, the second-lowest by Sept. 8 in at least the last 12 years, ahead of just 2019.

It can be hard to spur U.S. corn bookings at this time of year following a bumper Brazilian harvest, and the South American exporter just shipped an all-time monthly record of the yellow grain in August.

China earlier this year green-lighted Brazilian corn imports, adding pressure to U.S. possibilities. However, Brazil's agriculture ministry last week said there are still bureaucratic procedures to clear before that trade can begin.

U.S. grain exports narrowly avoided disaster on Thursday as the government reached a tentative deal with railway labor unions, averting the anticipated Friday shutdown. U.S. railroads, vital to grain exports, planned to start halting grain shipments on Thursday in preparation.

Source: Reuters

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Remarks of Officials

Luis de Guindos, Vice-President of the European Central Bank (ECB), delivered a speech at the Research Center on Regulation and Supervision of the Financial Sector (CIRSF) on September 15, with the key points as follows.

The euro area is now facing a challenging outlook and increased downside risks. Output growth is expected to slow down substantially and stagnate around year-end. Strong consumer demand will lose momentum in the coming months. Global demand is declining and the euro area's terms of trade have been deteriorating. High inflation is dampening spending and production and is being reinforced by disruptions in gas supplies.

Energy prices are still the dominant driver of overall inflation. Price pressures have continued to strengthen and broaden, in part owing to the impact of high energy costs across more and more sectors. The depreciation of the euro also adds to these inflationary pressures.

Why the ECB is normalizing its interest rates in the face of an economic slowdown and high inflation that are largely driven by a cost-push shock?

It is true that the euro area is not in a classic demand-driven overheating episode, and that energy remains the dominant driver of rising inflation and slowing growth. But at the current low level of interest rates, monetary policy is still accommodative, thus supporting demand and ultimately also contributing to price pressures. With inflation at record-high levels, such an accommodative monetary policy stance is no longer appropriate. Moreover, we need to ensure that inflation expectations remain well anchored until the current shocks have passed so as to facilitate the return of inflation to our medium-term target. The ECB needs to guard against second-round effects such as the risk of a persistent upward shift in inflation expectations.

The main asset that central banks have is credibility, and this asset becomes even more important in times of high uncertainty.

Speech by Guindos

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Jason

As central banks across the world simultaneously hike interest rates in response to inflation, the world may be edging toward a global recession in 2023, the World Bank warned on Thursday (Sept 15).

Central banks around the world have been raising interest rates this year with a degree of synchronicity not seen over the past five decades - a trend that is likely to continue well into next year, the World Bank said in a new study, reported Xinhua.

Yet the currently expected trajectory of interest rate increases and other policy actions may not be sufficient to bring global inflation back down to levels seen before the pandemic, the study noted.

Investors expect central banks to raise global monetary policy rates to almost 4% through 2023 — an increase of more than 2 percentage points over their 2021 average, according to the study.

"If this were accompanied by financial-market stress, global GDP (gross domestic product) growth would slow to 0.5% in 2023 — a 0.4% contraction in per-capita terms that would meet the technical definition of a global recession," the study noted.

Ayhan Kose, the World Bank's acting vice president for Equitable Growth, Finance, and Institutions, noted that because the rate hikes are highly synchronous across countries, they could be "mutually compounding" in tightening financial conditions and steepening the global growth slowdown.

"Policymakers in emerging market and developing economies need to stand ready to manage the potential spillovers from globally synchronous tightening of policies," said Kose.

A string of financial crises in emerging market and developing economies that would do them lasting harm, according to the study.

"My deep concern is that these trends will persist, with long-lasting consequences that are devastating for people in emerging market and developing economies," said World Bank President David Malpass.

"To achieve low inflation rates, currency stability and faster growth, policymakers could shift their focus from reducing consumption to boosting production," said Malpass.

"Policies should seek to generate additional investment and improve productivity and capital allocation, which are critical for growth and poverty reduction," Malpass added.

Source: Bernama

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Alex

Wall Street ended sharply lower on Thursday, extending its losses in late afternoon trading as a raft of economic data failed to alter the expected course of aggressive tightening by the Federal Reserve amid growing warnings of global recession.

The sell-off gathered momentum toward the end of the session, with market leaders including Microsoft Corp, Apple Inc and Amazon.com Inc hitting the tech-laden Nasdaq hardest.

After the bell, FedEx Corp tumbled 14.5% after the package delivery company said its fiscal first-quarter results were hit by global volume softness and it withdrew its financial forecast, saying it expected further deterioration of business conditions.

FedEx's warning sent shares of rival United Parcel Service down 5.7% in extended trade.

Earlier, in Thursday's trading session, the benchmark S&P 500 closed a hair above 3,900, seen by many analysts as a key technical support level that has been tested several times over the past two weeks.

Interest rate-sensitive banks helped soften the blue-chip Dow's decline.

"It's been a difficult year and investors are wary," said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. "Until something changes the tie's going to go the runner and that's been the bear."

That scale tipped further to the bear side after the World Bank and the International Monetary Fund (IMF) warned of an impending global economic slowdown.

A mixed bag of economic data, led by better-than-expected retail sales, cemented the likelihood of another 75 basis-point interest rate hike from the Fed at the conclusion of next week's monetary policy meeting, as uncertainties simmered over where the central bank will go from there.

"The question is what's going to happen in November?" said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. "If the Fed really wants to handle it properly, it will be 50 basis-point drop in November, a 25 basis-point cut in December, and then they'll reassess."

While the retail print surprised to the upside, declining jobless claims reaffirmed the labour market's strength, and a drop in import prices supported the past-peak inflation narrative.

But a surprise drop in industrial production and a contraction of Atlantic region manufacturing provided fodder for economic pessimists.

None of the data appeared to change the calculus regarding Fed expectations. Financial markets have now fully priced in an interest rate increase of at least 75 basis points next Wednesday, with a one-in-five chance of a super-sized, 100-basis-point hike, according to CME's FedWatch tool.

US railroads remained open after the Biden administration helped broker a tentative deal with unions to avert a strike, thereby avoiding a rail shutdown which would add to supply-chain pressures at the core of hot inflation.

Shares of railroad operators Union Pacific and Norfolk Southern outperformed the broader market.

Adobe Inc tumbled after the company said it would buy Figma in a deal valued at about US$20 billion.

The Dow Jones Industrial Average fell 173.27 points or 0.56% to 30,961.82, the S&P 500 lost 44.66 points or 1.13% to 3,901.35, and the Nasdaq Composite dropped 167.32 points or 1.43% to 11,552.36.

Nine the 11 major sectors of the S&P 500 ended the session in negative territory. Energy shares showed the largest percentage drop, as the tentative rail agreement and demand concerns sent crude prices tumbling.

Healthcare posted the biggest advance with an assist from health insurer Humana Inc, whose 8.4% surge following its strong earnings forecast made it the top gainer in the S&P 500.

Adobe Inc was the S&P 500's biggest percentage loser, tumbling 16.8% after the company said it would buy Figma in a cash-and-stock deal that valued the online design startup at about US$20 billion.

Declining issues outnumbered advancing ones on the NYSE by a 2.79-to-1 ratio; on Nasdaq, a 1.35-to-1 ratio favoured decliners.

The S&P 500 posted no new 52-week highs and 21 new lows; the Nasdaq Composite recorded 16 new highs and 206 new lows.

Volume on US exchanges was 11.11 billion shares, compared with the 10.35 billion average over the last 20 trading days.

Source: Reuters

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Daily News

【Quick Facts】

1. Xi Jinping meets with Putin: China is willing to work with Russia to bring stability to a world in chaos.

2. The White House issues a statement that a tentative railway labor agreement has been reached before a strike.

3. The EU intends to intervene in electricity prices by suppressing demands, limiting prices, and offering subsidies.

4. Zelensky has been involved in a car accident in Kyiv after inspecting Izyum but was not seriously hurt according to the Ukrainian official.

5. China's central bank partially rolls over MLF loans for the second consecutive month, keeping rates unchanged in a tighter external environment.

6. RBC: Key questions remain around future oil supply.

7. U.S. producer price index has fallen for a second straight month as fuel costs eased.

【News Details】

Xi Jinping meets with Putin: China is willing to work with Russia to bring stability to a world in chaos

Chinese President Xi Jinping held a bilateral meeting with Russian President Vladimir Putin at Forumlar Majmuasi Complex in Samarkand on the afternoon of September 15 local time to exchange views on China-Russia relations and international and regional issues of shared interest.

According to China's Foreign Ministry, Xi noted that China and Russia have maintained fruitful strategic communication so far this year. Bilateral cooperation in the various fields has moved forward steadily, with activities of the Year of Sports Exchange well underway, and a robust momentum in sub-national cooperation and people-to-people exchange. The two countries have maintained close coordination on the international stage to uphold basic norms of international relations. In the face of changes of the world, of our times and of history, China will work with Russia to fulfill their responsibilities as major countries and play a leading role in injecting stability into a world of change and disorder.

Xi stressed that China will work with Russia to extend strong mutual support on issues concerning each other's core interests, and deepen practical cooperation in trade, agriculture, connectivity and other areas. The two sides need to enhance coordination and cooperation under multilateral frameworks including the Shanghai Cooperation Organization (SCO), the Conference on Interaction and Confidence-Building Measures in Asia (CICA) and the BRICS to promote solidarity and mutual trust among the various parties, expand practical cooperation, and safeguard the security interests of the region as well as the common interests of the developing countries and emerging markets.

The White House issues a statement that a tentative railway labor agreement has been reached before a strike

According to the New York Times, the tentative railway labor agreement is being voted on by union members in accordance with standard labor bargaining procedures, but workers have agreed not to strike.

Secretary of Labor Martin J. Walsh chaired the 20-hour negotiations between the rail companies and the unions representing tens of thousands of workers, which began on Wednesday morning (Sept. 14).

U.S. President Joe Biden issued a brief statement on the White House website on September 15, saying a tentative railway labor agreement had been reached, just one day before the expected deadline for a general strike by U.S. rail workers. Details of the agreement have not yet been released.

"These rail workers will get better pay, improved working conditions, and peace of mind around their health care costs," Biden said in the statement. "I thank the unions and rail companies for negotiating in good faith and reaching a tentative agreement that will keep our critical rail system working and avoid disruption of our economy," Biden added.

After the agreement was reached, the U.S. Department of Labor also released a statement on its website, reading that "the rail companies and union negotiators came to a tentative agreement that balances the needs of workers, businesses, and our nation's economy... The rail system is an integral part of the supply chain, and its disruption would have a devastating impact on industry, travelers and families across the United States."

The EU intends to intervene in electricity prices by suppressing demands, limiting prices, and offering subsidies

In an effort to bring down soaring electricity prices, the European Commission has to launch a series of emergency market interventions.

On September 14, the European Commission officially released the draft emergency energy package, which needs to be approved at the emergency meeting of EU energy ministers on September 30. The EU and its member states have two weeks to discuss it.

Specific contents of the draft on the electricity sector include:

Curbing demands - It is proposed that member states reduce electricity demand by more than 5% during peak hours, and that member states need to reduce overall electricity demand by more than 10% by March 31 next year.

Limiting prices - A revenue cap will be set for low-cost generators, and when electricity prices exceed €180/MW, these generators' revenues will be collected by member governments to subsidize consumers.

Transferring payments - A windfall profits tax will be imposed on the excess earnings of oil, gas and coal firms, and the portion of these firms' profits this year that exceed the average profit of the past three years by more than 20% will be temporarily levied to subsidize consumers.

Zelensky has been involved in a car accident in Kyiv after inspecting Izyum but was not seriously hurt according to the Ukrainian official

On September 15, Ukrainian presidential spokesman Serhiy Nikiforov said in a statement post on social media that the car in which President Zelensky was and his escort convoy were involved in a "minor car accident" in downtown Kyiv on September 14. The statement said Zelensky was examined by a doctor and no serious injuries were found.

According to the statement, the car that collided with Zelensky's was a private sedan, and law enforcement officers will investigate all the details of the accident.

Based on the statement, the driver of the private car may be in more serious condition. Medical personnel accompanying Zelensky provided emergency assistance to the driver of the private car and transferred him to an ambulance and took him to a hospital for treatment.

EIB allocates 500 million euros to Ukraine

The European Investment Bank (EIB) announced that it had allocated 500 million euros to Ukraine to finance the repair of damaged roads, railroads, bridges and other infrastructure in Ukraine. The allocation is part of a fund set up by the EIB to assist Ukraine, which totals 1.59 billion euros.

China's central bank partially rolls over MLF loans for the second consecutive month, keeping rates unchanged in a tighter external environment

China's central bank partially rolled over the medium-term lending facility (MLF) loans due this month on Thursday and kept the rate unchanged, indicating that the central bank did not step up monetary easing for the time being against the backdrop of aggressive Fed tightening and abundant domestic interbank liquidity.

According to an announcement on the website of China's central bank, it was keeping the rate on 400 billion yuan ($57.46 billion) worth of one-year MLF loans to some financial institutions unchanged, while injecting 2 billion yuan through seven-day reverse repos. The central bank said this operation fully met the needs of financial institutions.

Based on the data summarized by Bloomberg, there are 600 billion yuan of MLF maturing this month, which resulted in a net withdrawal of 200 billion yuan from the banking system, the same as last month. Earlier in a Bloomberg survey, all but one of the analysts and economists interviewed predicted steady interest rates, with most expecting a scaled-back renewal this month.

RBC: Key questions remain around future oil supply

The CPI report released on September 13 showed that the U.S. energy price index fell in August. Helima Croft, Head of Global Commodity Strategy at RBC Capital Markets, gave an outlook on the future of oil prices on CNBC.

Croft said there is some uncertainty in supply with the U.S. SPR strategic oil reserve release coming to an end and the EU likely to impose a price cap on Russian oil in December. Therefore, oil prices still have the potential to move upward.

U.S. producer price index has fallen for a second straight month as fuel costs eased

A measure of U.S. producer prices fell for the second straight month in August as fuel costs continued to retreat, but the core indicator strengthened, indicating continued inflation in the production sector.

Data from the U.S. Department of Labor showed Wednesday that the PPI for final demand fell 0.1 percent in August from a month earlier and rose 8.7 percent from a year earlier. Core PPI excluding food and energy increased 0.4 percent in August from a month earlier, up more than expected, and rose 7.3 percent from a year earlier.

The PPI data, along with Tuesday's higher-than-expected CPI data, heightened concerns about the breadth and degree of U.S. inflation. While gasoline prices fell in August, producers are facing higher costs for services and some goods.

【Today's Focus】

10:00 India Refinitiv IPSOS PCSI (Sept) (FastBull APP)

14:00 U.K. Retail Sales MoM (Aug)

17:00 Italy HICP Final YoY (Aug)

-- Italy HICP Final MoM (Aug)

-- Italy CPI Final MoM (Aug)

17:00 Eurozone HICP Final YoY (Aug)

-- Eurozone Core CPI Final YoY (Aug)

-- Eurozone HICP MoM (Aug)

20:30 Canada Wholesale Sales MoM (SA) (Jul)

22:00 U.S. UMich Consumer Confidence Index Prelim (Sept)

-- U.S. UMich Current Status Index Prelim (Sept)

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Owen Li

South Korea's unemployment rate fell to historic lows in August as more of the elderly population entered the workforce to fill vacancies, likely pushing wages higher and triggering further interest rate hikes by the Bank of Korea (BOK).

The seasonally adjusted unemployment rate for August fell to 2.5% from 2.9% in July, the lowest since the data was first released in June 1999, as the number of people in work increased for an 18th straight month, official data showed on Friday.

Such tight labour market underpins expectations for at least two further interest rate hikes by the BOK in this year's two remaining policy rate reviews, slated for Oct. 12 and Nov. 24: The shortage of available labour adds to the risk of a wage price spiral at a time when headline consumer inflation is still near a 24-year high level.

Most economists expect the BOK to raise the interest rate to either 2.75% or 3.00% by the year-end, from 2.50% currently, in an effort to quell inflation, even as the central bank sees economic growth slowing to 2.6% this year from 2.7% previously.

"With the labour market still tight, we continue to expect the Bank of Korea to raise its policy rate by 25 bp (basis points) in October and November, hitting 3.00% by year-end," said Brian Tan, an economist at Barclays Bank.

"While the recent export slowdown will likely weigh on the central bank's considerations on the pace of rate hikes, it is unlikely to bring the normalisation cycle to an end on its own."

The number of employed people increased by 807,000 compared with the same month a year earlier. The pace of gains though was milder, with the number of people joining the workforce 826,000 in July and 841,000 in June.

"Employment growth is expected to slow going forward as uncertainties are increasing on worsening external conditions and weaker consumption due to high inflation and interest rate hikes," vice finance minister Bang Ki-sun said at an economic policy meeting after the data release.

Although drum-tight, the job market remains a source of concern, economists say, with more than half of the people who joined the workforce in August being 60 or older.

The increase was driven mostly by the manufacturing sector, which added 240,000 employees, the biggest monthly growth under sector categories introduced in 2013, followed by health and social welfare services with 123,000 jobs and agriculture and fisheries with 9,000.

Source: Reuters

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Biden to Hit China with Broader Curbs on U.S. Chip and Tool Exports

'Choke point'

Source: Reuters

U.S. Data Dump Reveals Decent Soybean, Dull Corn Export Demand

Corn

Source: Reuters

[ECB] Guindos: Euro Area Is Facing a Challenging Outlook

Speech by Guindos

World Bank Warns of Rising Global Recession Risk Amid Simultaneous Rate Hikes

Source: Bernama

Wall St Tumbles Amid Fed Tightening Jitters, Economic Rumblings

Source: Reuters

September 16th Financial News

【Quick Facts】

【News Details】

【Today's Focus】

South Korea's Drum-Tight Job Market Fuels Wage, Rate Hike Pressures

Source: Reuters

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Recent Searches

Top Searches

Markets

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Analysis

User

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Economic Calendar

Education

Data

Biden to Hit China with Broader Curbs on U.S. Chip and Tool Exports

'Choke point'

Source: Reuters

U.S. Data Dump Reveals Decent Soybean, Dull Corn Export Demand

Corn

Source: Reuters

[ECB] Guindos: Euro Area Is Facing a Challenging Outlook

Speech by Guindos﻿

World Bank Warns of Rising Global Recession Risk Amid Simultaneous Rate Hikes

Source: Bernama

Wall St Tumbles Amid Fed Tightening Jitters, Economic Rumblings

Source: Reuters

September 16th Financial News

【Quick Facts】

【News Details】

【Today's Focus】

South Korea's Drum-Tight Job Market Fuels Wage, Rate Hike Pressures

Source: Reuters

Risk Disclosure

Speech by Guindos