Australian shares are set to open lower. Oil rallied, bolstering energy stocks in New York. $A retreats. Bitcoin hovering at $US17,000.
The political atmospherics now are very different to when the miners took down Kevin Rudd and his mining tax in 2010.Local: Westpac-MI December consumer confidence at 10.30am AEDT, NAB November business survey at 11.30am AEDT
Yardeni also said: “If a recession is coming in 2023, it will be the most widely anticipated recessions of all times. It would be the first time that we’ve collectively talked ourselves into a recession, and the bankers are among the most vocal pessimists, leading the way with their unsettling howling.”The STOXX 600 index closed down 0.5 per cent on Monday. The index has fallen nearly 10.
The IEA said a stronger push on energy efficiency, renewables, heat pumps and simple energy saving actions “is vital to head off the risk of shortages and further vicious price spikes next year”.Bank of America said the recent drop in oil prices has come “against our expectations” reflecting “a sharp deceleration in forward looking macro indicators such as Asian export growth. Demand concerns have filtered into oil markets while Russian exports seem so far unaffected by EU sanctions”.
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