Stagflation, three components:
- high inflation
- slow growth
- high unemployment: the third component is main focus for the Brits
Jobless claims, today:
- held near multi-decade lows
- still near a 54-year low set earlier this month;
- 185,000 vs 170,000 expected
- prior week revised to 167,000
- continuing claims
- 1.475 million vs 1.500 million expected
- 1.523 previous week
- most interesting:
- prior week revised to 167,000
- compared to 218,000 new claims filed per week throughout 2019 before the pandemic
Russia: indications that banking sanctions are starting to bite
- Putin agrees to give customers additional time to meet payment deadlines
- not doing it to "be nice"; he needs the cash; rather have delays than non-payments
- again, western sanctions:
- immediate: sanctions on banking
- assets frozen;
- removed from international banking system
- short-to-medium term: sanctions on oil purchases
- long term: sanctions on western technology to keep energy sector working
- nothing new here; all previously posted.
No comments:
Post a Comment