The Marked Chart Wire · Economy and the Fed
Economy
UK recession danger rises if AI investment cools
Economists warn that Britain faces a significant chance of entering a downturn should the surge in artificial intelligence spending decelerate.
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Australia Rates
Australia raises interest rates to 18-year high
The Reserve Bank of Australia increased its benchmark rate to a level not seen in 18 years. This marks the central bank's fifth hike this year, a move that matched economist expectations.
Treasury Auctions
Treasury sells $177 billion in bills as yields fall
The U.S. Treasury sold $177 billion in three- and six-month bills with yields dropping from prior auctions. Demand improved for six-month bills but weakened for three-month issues.
Economic Data
Construction spending falls more than expected
US construction spending dropped 1.9 percent in the latest month, missing the 0.3 percent gain analysts had forecast. The ISM manufacturing prices paid index also came in below expectations at 75.2.
Manufacturing PMI
US manufacturing activity expands faster than expected in October
The Institute for Supply Management manufacturing index rose to 55.5 in October, above the 54.5 forecast and the prior month reading.
PMI
US Manufacturing PMI final reading falls to 54.9
The final S&P Global US Manufacturing PMI came in at 54.9 for the period, below the forecast of 56 and down from the previous reading of 56.0.
Fed
Fed Chair Warsh comments spark concerns over aggressive rate hikes
Federal Reserve Chair Kevin Warsh made remarks that are raising concerns about a more aggressive rate-hiking cycle, according to market observers.
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