– China Producer Prices accelerated, up 10.7% YoY, the highest rate since 1996, though CPI eased due to lower food prices.
– MAS unexpectedly tightens policy by allowing the Singapore dollar to appreciate.
– Biden adds Port of LA to Port of Long Beach in operating 24/7, asks private sector delivery firms to do the same.
– Fed Bowman “very comfortable” with November taper as asset purchases “have essentially served their purpose” and “I am concerned [they] could now be contributing to valuation pressures, especially in housing and equity markets”.
– Australia’s Northern Territory announces “anyone serving the public at work will have to be vaccinated”, if not by Christmas Eve they will be fined AUD 5,000 and fired.
– Australia employment falls 138,000 as lockdowns continue.
– CS cuts fees for clients affected by Greensill.
– Sunak to dilute cap on charges for workplace pensions to enable investment into higher fee products like venture capital.
– More than 40 UK trade associations demand reform to business rates.
– Heathrow wants to double landing fees over the next five years.
The S&P500 eked out a gain, Asian markets were mostly higher overnight. More earnings due today from US banks.
On this day in 1926, the first book featuring that rare philosopher Winnie-the-Pooh was published