Happy morning, Munchers! 🙏

Hope your weekend was fun, and the post-party headache isn't too strong. 🤷

As always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 4 minutes and 57 seconds.

That's less time than it takes for China's President to prep for another term, Tunisia to secure a 2 billion dollar bag, and RBI to reassure Rupee holders. 🔥

Let’s dive in.

What’s hot, what’s not?

Story Roundup

1 - Xi Jinping preps for another term as President. 💀

President Jinping has a mission that "is glorious beyond compare".

He said this at a 2-hour long address to about 97 million Chinese Communist Party members.

Big words, but what do they mean?

• More crackdown on COVID. He spent a long time talking about the importance of ridding China of COVID - so more draconian shutdowns may be on the cards

• No more bullying from the West. He also said that the party would fiercely combat "protectionism and bullying" by other nations. No naming names from them, but that's the US.

• Unification of Taiwan may come soon. He said it perfectly. "We will never renounce the use of force to achieve unification and will take all necessary measures to stop separatist movements."

Make of that what you will. 🤷

2 - Tunisia secures a 2-billy bag. 💰

To say that Tunisia has been in hot water would be an understatement.

The North-African country has been plagued by all sorts of woes - food shortages, rocketing fuel prices, and dysfunctional governments.

They just reached a preliminary agreement with the IMF - they're gonna get a $1.9 billion package to help alleviate the fuel and food shocks.

It's interesting to note that this is agreement number 3 between the IMF and Tunisia since 2013, as the country has failed to implement previously agreed reforms.

Fingers crossed on this one. 🤞

3 - Hurricane Ian spooks insurance companies. 💸

Hurricane Ian has swooped in to become one of the largest natural disasters.

And insurance companies are scared.

Analysts forecast a loss of up to $75bn solely because of storm-related damage.

That would make it the costliest natural disaster in nominal terms.

A lot of people are also betting that insurance companies are gonna be moving away from Florida entirely - but it's a long shot.

Hail. 🌨️

4 - Vaccine makers face sharp slump. 💉

COVID jabs jumped to the moon, then came back down twice as fast.

Demand for the little suckers skyrocketed during COVID for a pretty obvious reason - but that same demand has fallen through the floor now.

The average price per jab is also looking set to rise, with private hospitals in the US targeting a rate of $100/shot - making it about 5x more expensive.

Analysts are also cutting BioNTech's revenue forecasts left right and center, with most forecasting a drop of about 28-33% in top line.

Ripsaw. ⚙️

5 - RBI reassures markets over Rupee's performance. 📈

India's Finance Minister clutched up for markets, saying that the rupee will withstand a strong dollar.

She also said that the Rupee is outperforming it's peers, especially since the RBI has taken measures to reduce volatility in Indian forex markets.

Last week, the Rupee plunged to yet another low against King Dollar over fears of a global recession and hot inflation in the US.

Looks robust. 💪

Hope you enjoyed this issue of the Market Munch. If you've got any feedback - good or bad (😏) you can hit reply to this email. Thanks a ton for reading!

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Cheers, and have a lovely day. 🙏

Aryaansh