More complications for OPEC deal:

More potential complications for OPEC when it comes to its efforts to finalize a production freeze deal a meeting in Vienna in late November. Bloomberg cited comments from Iraq’s oil minister, who said Sunday at a news conference in Baghdad that his country should be exempted from cutting production because it is engaged in a […]

UK inflation at highest rate since November 2014:

UK September CPI came in at 1% vs consensus 0.9% and prior 0.6%, representing a 0.2% gain on the month vs consensus 0.1% and prior 0.3%. The UK statistics office said main upward contributors were clothing, overnight hotel stays and motor fuel and gas, which were unchanged, having fallen a year ago. Upward pressure in […]

Headline CPI in line, but core misses:

September headline CPI increased 0.3%, in line with consensus and better than August’s 0.2% level. Rose 1.5% y/y. Gasoline accounted for more than half this increase, rising 5.8% in September. Shelter also a large component of the rise, posting its largest increase since May on higher indexes for rent and owners’ equivalent rent. Food prices […]

Fed officials continue to signal December tightening:

Fed officials continue to signal likelihood of a December tightening. Last Friday, NY Fed President Dudley (voter) told WSJ that he expects Fed to tighten once this year. Also reiterated expectations for a very gradual tightening path in 2017 and beyond. Seemingly fits with recent discussion by Fed Chair Yellen that there may be some […]