Five Stories Moving the Market:
Putin and Xi to speak by video link on Friday – Reuters. Russian President Vladimir Putin will speak with Chinese President Xi Jinping via video link on Friday to discuss a host of bilateral and regional issues.
Mortgage rates in the U.S. rise for first time in seven weeks – Bloomberg. Mortgage rates in the U.S. rose for the first time since mid-November, with the average 30-year fixed loan rising to 6.42%.
BOJ Defends Yield-Curve Target With More Rounds of Bond Buying – Bloomberg. The Bank of Japan announced two additional rounds of unscheduled bond-purchase operations, fighting back against traders betting it will further relax its yield-curve control policy.
Apple iPhone output in China begins to catch up despite Covid-19 issues – WSJ. Covid-19 issues in China are still hampering manufacturing of Apple’s iPhone, but production is beginning to catch up to demand for the more-expensive Pro models, according to analysts and people involved in the supply chain.
Ed Yardeni says stock bulls have ‘narrow path’ to victory in 2023 – Bloomberg. Stock market bulls have a “narrow path” to victory next year as long as inflation comes down faster than expected, according to Ed Yardeni, founder of his namesake research firm.
Russia rained scores of missiles on Ukrainian cities in one of its heaviest barrages of the war, pressing further with a campaign to destroy civilian targets as Moscow spurned the prospects of talks to end the invasion – Bloomberg.
Beijing called on foreign governments to abide by scientific principles in setting travel protocols, after the U.S. joined a growing group of countries imposing Covid-19-screening measures on travelers from China – WSJ.
A Chinese military plane came within 10 feet (3 meters) of a U.S. air force aircraft in the contested South China Sea last week and forced it to take evasive maneuvers to avoid a collision in international airspace – Reuters.
While the U.S. has sought to persuade countries to reduce their dependence on China, trade ties between the world’s second-largest economy and the rest of Asia are deepening as economies grow and companies refashion supply chains – WSJ.
European health officials called screenings and restrictions on travelers from China unjustified, a stark contrast to the growing number of countries calling for tougher measures – Bloomberg.
Britain is reviewing whether to impose restrictions on people arriving from China after a surge in COVID infections there, but has no current plans to do so, officials said on Thursday – Reuters.
The U.S. government is considering sending Bradley Fighting Vehicles to Ukraine as part of a further package of military support, according to people familiar with the matter – Bloomberg.
Filings for U.S. unemployment benefits rose only modestly last week and held near pre-pandemic levels, suggesting the labor market remains historically tight – WSJ.
The Biden administration will hold Southwest Airlines "accountable" if it fails to fulfill commitments to customers for "controllable delays and cancellations," Transportation Secretary Pete Buttigieg said on Thursday, after the airline canceled thousands of flights in the wake of winter storms – Reuters.
The U.S. Treasury Department signaled some imported cars will qualify for electric-vehicle tax credits in the Inflation Reduction Act, a move that could assuage Asian and European allies’ concerns about the sweeping climate legislation – Bloomberg.
Canadian pipeline operator TC Energy Corp said on Thursday it had completed a controlled restart of its Keystone crude oil pipeline to Cushing, Oklahoma, safely returning the pipeline to service after a 21 day outage – Reuters.
Taiwan Semiconductor Manufacturing kicked off mass production of next-generation chips Thursday, ensuring the island remains the linchpin of a critical technology fought over by governments from Washington to Beijing – Bloomberg.
BYD, China’s biggest maker of clean cars, has increased pricing for its popular Dolphin model and scrapped an entry-level version of the vehicle, just as automobile demand in the nation looks to be coming off the boil – Bloomberg.