At least someone is being honest
As much as central bankers have kept up the narrative that the surge in inflation pressures is temporary or ‚transitory‘, they don’t really have the right tools to deal with the root of the problem. As such, the best they can do is to hope that to be the case.

Bitcoin up over 2% on the day to above $50,000
It is the first time since 7 September that price has clipped the $50,000 mark and it’s an important psychological win for buyers in trying to maintain the recent upside momentum, after having put up a defense at its 100-day moving average (purple line).

She will be speaking with CNBC at 1130 GMT
The interview will at least cover some key topics at the moment regarding the debt ceiling and infrastructure negotiations, so keep your eyes and ears peeled in case.

How does that coal look now?
China’s decision to boycott Australian coal isn’t looking too wise at the moment as prices jump to skyhigh levels and China is threatened with power outages.

Forex news from the European trading session – 4 October 2021
Headlines:
Markets:
– CHF leads, JPY lags on the day
– European equities slightly lower; S&P 500 futures down 0.4%

What’s coming up today
The euro is at the highs of the day, up 33 pips to 1.1628 as the continent continues to grapple with the energy crisis.
This note from 11 years ago — citing Vladimir Putin — was doing the round on the weekend as Germany pledged to shut down coal-fired power plants.

GBP/USD stays in the hunt for a third straight day of gains
The dollar’s lackluster performance today is a bit of a tough one to decipher as equities are leaning towards being more cautious while Treasury yields are up for the first time in four days (10-year yields up 2.9 bps to 1.496% currently).

Further remarks by Sunak
Well, that will just serve to distort underlying labour market conditions further but amid worries about the virus and uncertainty still surrounding the economy, it is understandable even with the furlough figures slowly winding down.

Tobias Levkovich was well known for setting S&P 500 price targets
Citigroup reported that chief equity strategist Tobias Levkovich died on Friday, a month after being hit by a car while crossing a street in Long Island, NY.

China has not lived up to pledge to purchase additional $200B in goods
US Trade Representative Katherine Tai will announce Monday that China
is not complying with the so-called phase one trade deal, sources familiar with
the matter .