July 12, 2023
United States:
US Inflation Hits Two-Year Low, Giving Hope for End to Fed Hikes
US inflation sharply cooled last month, offering fresh hope that the Federal Reserve can soon wrap up the most aggressive interest-rate hikes in decades.
The consumer price index rose 3% last month from a year ago, the smallest advance in more than two years, according to data out Wednesday from the Bureau of Labor Statistics. Excluding food and energy, the core CPI — which economists view as the better indicator of underlying inflation — advanced 4.8%, also the lowest since…
Europe:
European Gas Falls to Lowest in a Month as Troll Set to Resume
European natural gas fell to the lowest level in a month on expectations that seasonal maintenance will ease soon in the region’s top supplier.
Benchmark futures slumped as much as 4.4%, extending this week’s decline. Works at the giant Troll field in Norway have been extended again — for the fourth time this month — but it’s still expected back at full capacity by Friday, promising higher supply to the market.
Asia:
China Regulator Asked Banks to Respond to Bearish Goldman Report
China’s financial regulator asked banks to respond to a bearish research report on the sector by analysts at Goldman Sachs Group Inc., underscoring heightened sensitivity in Beijing toward negative market commentary as the economy slows.
The National Administration of Financial Regulation communicated with several of the largest Chinese banks after Goldman analysts cut ratings on some shares and lowered price targets on others, people familiar with the matter said, asking not to be named discussing private information. The regulator told banks to respond appropriately, without giving specific guidance, the people said.
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