The politics and policy of global inflation will begin to shape markets as major global economies push back in direct and indirect ways on the surging price of oil. Recent jawboning of the oil market by the Biden administration and its global allies has resulted in a roughly 9% decline in the price ... READ MORE >
Industrials
Chart of the day: Industrial production climbed back in October
Industrial production rebounded in October with a gain of 1.6% after a significant slowdown in September because of Hurricane Ida, pointing to healthy growth for the rest of the year. Output gains were recorded in every category from manufacturing to utilities to mining as constraints in energy and ... READ MORE >
This week in energy: Infrastructure bill, carbon capture, oil prices up
In this week's energy industry analysis, we take a look at the recently passed infrastructure bill's implications for the sector, proposals for carbon capture and storage projects in Canada, and the recent rise in oil prices. Infrastructure implications The infrastructure bill passed by the House on ... READ MORE >
Carbon pricing—in the spotlight at COP26—could mean big shifts for global trade
Conversations last week at the United Nations Climate Change Conference, known as COP26, made clear that increases in carbon prices and in the adoption of carbon pricing programs are critical to reduce carbon emissions to keep the global temperature increase under 2 degrees Celsius. Though long touted ... READ MORE >
Manufacturing in Canada at seven-month high
Canada’s manufacturing output hit a seven-month high in October as domestic and international demand remained strong despite persistent bottlenecks in the global supply chains. The IHS Markit Canada Manufacturing Purchasing Managers' Index rose to 57.7 on the month, up from 57.0 in September, marking ... READ MORE >
Chart of the day: U.S. manufacturing remained strong in October
The U.S. manufacturing sector continued to expand in October as growth remained positive despite supply chain constraints. The Purchasing Managers' Index inched down to 60.8 from 61.1 in September, but still posted the 17th straight month of expansion since April 2020, according to a report from ... READ MORE >
RSM US Manufacturing Outlook Index: Expansion hits headwinds
The recovery of the manufacturing sector in the United States remained intact in October, with expectations for the expansion to continue over the next six months. Surveys of manufacturing activity conducted by regional Federal Reserve banks reported increases in new orders despite backlogs, longer ... READ MORE >
This week in energy: COP26, Permian production, Canada Cabinet shuffle
In this week’s energy industry analysis, we take a look at priorities for the upcoming United Nations climate change conference, the recent production surge in the Permian Basin, and new Cabinet appointments in Canada. 1. U.N. climate change conference Next week, the United Kingdom will host ... READ MORE >
The LIBOR transition could affect manufacturing companies
Much has been written about what the elimination of the London Interbank Operating Rate (LIBOR)—the global interest rate benchmark—will mean for the financial sector and the resulting need to reset interest rates on trillions of dollars of financial products. The transition away from LIBOR will also ... READ MORE >
Chart of the day: Signs of strength in durable goods orders
Durable goods orders fell by 0.4% in September after a strong gain of 1.3% in August, driven by transportation orders—vehicles and nondefense aircrafts—which declined by 2.3% on the month, according to Commerce Department data released Wednesday. But even with this decline in transportation orders, ... READ MORE >