November 9, 2021
“The Federal Reserve warned that fragility in China’s commercial real-estate sector could spread to the U.S. if it deteriorates dramatically, as investor focus turns to China Evergrande Group’s biggest payment test yet. The Fed’s stability report, which is meant to highlight risks that could undermine the financial system, said that “stresses in China could strain global financial markets through a deterioration of risk sentiment, pose risks to global economic growth, and affect the United States.” ”
Europe:
U.K. to Empower Regulators to Repeal and Replace EU Rules
“British regulators will be granted greater flexibility to update laws inherited from the European Union, as part of the U.K. government’s push to overhaul the financial industry after Brexit. The Treasury’s Financial Services Future Regulatory Framework Review proposes giving the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority the powers to replace EU rules with new ones that are more closely tailored to the U.K. market, according to a statement Tuesday.”
Asia:
China’s Factory Inflation Seen Quickening to 26-Year High
“Prices that Chinese companies charge for their output likely rose at the fastest pace in more than two decades last month, driven by the continued commodity boom and an energy crunch, coupled with a resurgence of Covid and bad weather. The producer price index is expected to have climbed 12.3% last month from a year earlier, according to the median estimates in a Bloomberg survey of economists, the fastest pace since late 1995. ”
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