Happy morning, Munchers! 🙏

Hope you had a relaxed weekend... and went easy on the partying. 😤

As always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 4 minutes and 50 seconds.

Let’s dive in.

What’s hot, what’s not?

Story Roundup

1 - Asian disquiet unsettles Russian advances. 🌏

Over the last week, Russian president Vlad Putin met with the leaders of both India and China.

While I'm sure they spoke about topics far and wide, one thing is certain.

Both countries criticized the Russian invasion on Ukraine. Heavily.

These concerns are the first public shift in perception by countries that are allies of Russia. 

India's PM Modi said that "this era is not an era of war" and China's President Jinping's concerns over escalations were acknowledged too.

It's classic high-school bullying. 🤷

2 - Economists predict rates creeping up to 4% by next year. 📈

Most academic economists around the world see US rates at 4% beyond 2023.

Last week's inflation data did two things -a) send marketing barreling in their worst day since June 2020b) show us that inflation may be more stubborn than we thought.

The US Fed has not yet come to terms with how high rates might need to be - with with about 60% of economists believing that rates need to sit at 4-5% by the end of next year. 

Tight. 🪢

3 - Hurricane Fiona lashes at Puerto Rico. 🌀

Puerto Rico's having a climate crisis.

Hurricane Fiona lashed at the island and knocked out electricity to the entire place. 

It brought with it - - winds of 140 km/h- massive amounts of rain and flooding- a complete overhauling of their grid

There aren't any immediate reports of deaths - God willing it stays that way. 🤞

4 - Typhoon forces millions of Japanese to evacuate their homes. 🌩️

Japan's southern side has been hit by powerful winds and torrential rain.

These were brought by Typhoon Nanmadol, and large parts of the country spent their day under Japan's highest level of warning.

Winds surged to speeds of above 165 km/h and 200,000 households were plunged into blackout. 

Scary. 

5 - EU withholds Hungary's bag. 💰

The EU withheld a key support payment to Hungary over corruption concerns.

These payments are called "EU cohesion funds" - used to promote growth and reduce unemployment.

But the EU has another set of rules - that let member countries withhold payments if countries "breach core EU values".

Hungary was challenged with having a corrupt and authoritarian system, and they've been given one month to reply to the EU.

It's always your own. 🤷

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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