DAILY DOSE: October 18, 2022
Posted on 10/18/2022
1. Barclays plc sees Federal Reserve rising rates 75 basis points in November, December 2022.
2. Freddie Mac: 30-Year Fixed-Rate Mortgage Averaged 6.92% for Week Ended October 13, 2022. This is the highest level for a 30-year fixed rate since April 2002.
3. U.S. President Joe Biden plans to use the strategic petroleum reserve weeks before the mid-term elections. In addition, the last time U.S. commercial diesel inventories were this low was in the middle of October when Harry Truman was U.S. president. New York harbor spot prices are greater than US$ 200 per barrel.
4. U.S. Texas securities regulator (Texas State Securities Board) launches an investigation into FTX Trading, FTX US and its CEO Sam Bankman-Fried.
5. Inflation in Italy reaches 8.9%, the highest its seen in 37 years.
On another note:
U.S. annual inflation
September 2020: 1.4%
September 2021: 5.4%
September 2022: 8.2%
