The Day Today 10th January 2022

  • Hong Kong executives are stranded outside the territory due to a flight ban to guard against Omicron.
  • China tightens controls in Tianjin, a city of 14m people, as its zero-Covid-19 strategy is tested.
  • Virgin Australia will reduce capacity by 25% due to reduced travel and staff isolating.
  • London law firms are struggling to fill job vacancies, “there is a huge shortage of talent”.
  • UK financial regulators will step up scrutiny of cloud computing providers.
  • McDonald’s Holdings Japan will stop selling medium and large fries due to delays in shipments of potatoes.
  • The four day week is gaining ground in Japan, Panasonic now embrace the concept.
  • Japan’s tallest building will include luxury apartments costing $43,000 a month to rent.
  • Philippines’ energy secretary has appealed to Indonesia to lift its coal export ban.

The S&P 500 fell 0.4% on Friday, the Nasdaq was down 1%. Asian equity markets were in a cautious mood. It’s looking taper tantrum esque out there, we have Powell on Tuesday who will be hawkish.

The Week That Will Be
The Fed and Inflation; it’s a political thing: Actual Inflation; China producer prices Wednesday, BUT despite all the central bank hawkishness, inflation is currently not a useful marker: Earnings; they begin Friday.

On this day in 1863 the Metropolitan Railway, the world’s oldest underground railway, opened between Paddington and Farringdon, marking the beginning of the London Underground.

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