COVID vaccine disrupts menstrual cycle: https://www.nih.gov/news-events/news-releases/study-confirms-link-between-covid-19-vaccination-temporary-increase-menstrual-cycle-length . The disruption is generally less than a day. However, 6% of vaccinated women in the study experienced a disruption of greater than 8 days.
Omicron BQ.1 and BQ.1.1 spread: https://apnews.com/article/health-education-covid-46cb725e08110f8ad3c1b303ec9eefad . The pair now represent 27% of new US cases.
COVID K-12 massive learning setbacks: https://apnews.com/article/health-education-covid-46cb725e08110f8ad3c1b303ec9eefad . This goes well beyond school closures, as disruption at home included job loss, illness and death for many families.
WSJ: US flu season revs up early: https://www.wsj.com/articles/flu-hospitalizations-hit-decade-plus-high-for-october-11666979776 .
US cancer deaths decline with lung cancer progress: https://abcnews.go.com/Health/cancer-death-rates-continue-decrease-diagnoses-hold-steady/story?id=92085541 .
WSJ: Alzheimer’s drug study participant dies, possibly from the drug: https://www.wsj.com/articles/volunteer-dies-testing-eisai-biogen-alzheimers-drug-during-study-11666985360 .
Zero COVID sends central Shanghai back into lockdown: https://apnews.com/article/health-china-beijing-xi-jinping-shanghai-631ee1b6a906bfc9ef7475ed6ed64406 .
Italy to allow health workers who aren’t vaccinated against COVID: https://www.usnews.com/news/world/articles/2022-10-28/italy-to-end-ban-on-health-workers-not-vaccinated-against-covid . Italy’s new right-wing government places politics above science. These health workers are a risk to themselves and the patients.
US inflation data remains hot: https://www.msn.com/en-us/money/markets/u-s-data-brings-some-encouraging-signs-for-inflation-weary-fed/ar-AA13u18n?cvid=f36313b6dab547c589bb274f0f28561f . The market (and the media) seems to be hunting for hope in a data stream that is not offering any. Wage growth is a factor in inflation, but this slowdown does not offer any current relief. WSJ: That is, even if it really is a slowdown: https://www.wsj.com/articles/us-inflation-wages-employment-cost-index-q3-2022-11666925660 .
Expert says rate hikes will continue through end of 2023: https://www.msn.com/en-us/money/markets/the-fed-won-t-pivot-from-its-rate-hikes-until-the-end-of-2023-as-inflation-is-persistent-and-the-economy-isn-t-slowing-as-expected-jpmorgan-strategist-says/ar-AA13tWx5?cvid=42f426163aca485c975cb37243e2c02b . Well, I’m dubious about the length of this prediction. However, it’s quite the counterpoint to those who are arguing the Fed will back off in December, or even November. As the newsletter has said consistently, the Fed will almost certainly hike 75 basis points next week, and a similar increase is coming in December. From there, the 2023 increases are data-driven. But the Fed will remain focused on inflation. There is currently an expectation of a US recession, but nothing suggesting economic collapse.
An alternate view: https://www.msn.com/en-us/money/markets/another-fed-jumbo-rate-hike-is-expected-next-week-and-then-life-gets-difficult-for-powell/ar-AA13umaS?cvid=316d4a8dbec8422b8f362c7353f1e3ee . The Fed cannot risk pivoting too early, because that will only encourage inflationary pressures. I’m in the above 5% camp until the data clearly shows inflation coming down toward the Fed’s 2% goal. There is no way the current data shows any significant progress toward that goal.
WSJ: Georgia nuclear plant to come online within the next 6 months: https://www.wsj.com/articles/americas-only-new-nuclear-plant-inches-closer-to-a-long-delayed-start-11666960856 .
WSJ: GM pauses Twitter advertising: https://www.wsj.com/articles/gm-pauses-paid-advertising-on-twitter-after-elon-musks-takeover-11666994570 .
Sweden and Finland moving to join NATO: https://www.usnews.com/news/world/articles/2022-10-28/swedish-pm-says-sweden-committed-to-nato-deal-with-turkey .
Russia presses for gains in eastern Ukraine: https://apnews.com/article/russia-ukraine-putin-europe-business-moscow-c449617bb579fd2dd217a0a042e16a6b . WSJ: Russian conscripts to arrive in Ukraine: https://www.wsj.com/articles/ukraine-expects-arrival-of-fresh-russian-troops-within-two-weeks-11666958465 .
The metaverse is Zuckerberg’s private universe: https://finance.yahoo.com/news/mark-zuckerberg-betting-metaverse-because-090300188.html . Betting against the market strikes most people as a losing idea, which it has been so far for Zuckerberg. This article suggests Zuck is unbalanced in his dogged pursuit of this pet project. The theory has considerable merit.
Another appalling stop on the Terd Cruz: https://radaronline.com/p/ted-cruz-resign-mocking-stroke-survivor-senate-candidate-john-fetterman/ . It will be 2 years before Texas voters have another chance to dump this clown. By then, it will be 6 years too late. Certainly, however, late is vastly better than never. If Texas voters want to return to civility in the political arena, this is the priority place to start.
Nut attacks Paul Pelosi in San Francisco home: https://apnews.com/article/california-donald-trump-san-francisco-47c103cfe696df9faf0e57e1c7dd4f10 . If Nancy had been home, her security detail would have been there as well. More: https://abcnews.go.com/Politics/nancy-pelosis-husband-violently-assaulted-san-francisco-home/story?id=92280229 . Still more: https://news.yahoo.com/paul-pelosi-secretly-called-911-023715678.html . WSJ: More: https://www.wsj.com/articles/speaker-nancy-pelosis-husband-attacked-in-san-francisco-home-11666962683 .
A bad day for MoMa’s art experts: https://www.artnews.com/art-news/news/a-mondrian-work-was-found-to-have-been-hung-upside-down-for-over-75-years-1234644669/ . Admittedly, it is not obvious which side of the artwork is the bottom. However, when hanging this work, wouldn’t you ask?
Brady-Bundchen divorce: https://www.espn.com/nfl/story/_/id/34896047/tom-brady-gisele-bundchen-announce-divorce-13-years . WSJ: More: https://www.wsj.com/articles/tom-brady-gisele-bundchen-file-for-divorce-11666970043 .
Jerry Lee Lewis actually passes this time, still at 87: https://www.npr.org/2022/10/28/533979071/jerry-lee-lewis-dies . As we noted yesterday, the incorrect reports then of his death were quite believable.