Good morning, Munchers! 🙏

Happy Saturday! Hope you had a fun night of partying the week away. Time to take a chill pill on this one - grab a cup of coffee, and let's go. 🤷‍♂️

As always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 5 minutes and 4 seconds. 

Let’s dive in.

What’s hot, what’s not?

Market Commentary

• US stocks have recorded their longest streak of quarterly losses since 2008! Something's gotta give. September has been the worst month of 2022... so far. 😏

• Recent volatility in British markets is still stemming concern for more rate hikes.

• Indian stocks snapped a 7-day losing streak to shrug off a sellers' market.

Story Roundup

1 - British railways grind to a halt. 🛑

Something sinister is happening on the UK's train tracks. 

Around 50,000 staff have said that they won't come to work - and it's all a dispute over- low pay with record inflation- poor working practices and impossibly long hours- possible job losses

It's gotten to the point where only 10% of all scheduled trains will be running. 

The government sets the rail industry's annual budget, and they've said that they can only bump up pay if they 'modernize'.

Quite a derailing. 🚂

2 - Europe inflation flies out of the park. 🔥

If you told me I could buy inflation as an asset class, I'd go all in. 

Inflation in the Euro area hit a record high at 10% - notching the highest level in 40 years and calling for more aggression by central banks. 

Energy prices had the biggest hand in this cruel game - up almost 41% in September. 

EU energy ministers agreed on a $200 billion aid package, since inflation is biting absolutely everyone. 

Inflation nation! 🥵

3 - Japan splashes $20 billion for a grasp on it's currency. 🗑️

Japan's currency has been tumbling this year. 

It hit a 25-year low earlier, and the government decided that enough was enough.

They stepped in with a $20 billion rescue plan, but it looks like nothing's changed.

While their $20 billion worth of asset purchasing was helpful in reducing short-term volatility, long-term bearish sentiments have remained unchanged. 

The Bank of Japan has renewed it's old stance on keeping it's economy loose - refusing to hike interest rates, as it remains as the only central bank in the world to hold it's interest rates negative. 

Fingers crossed. 🤞

4 - Elon Musk unveils a real-life transformer. 🤖

Elon Musk didn't get to where he is by doing the normal. 

And he's surprised us yet again - with a humanoid robot that can barely talk, doesn't have a brain, and struggled to move. 

At yesterday's Tesla event, he revealed this robot with a few lofty targets - - a price below $20,000 - an essential part of everyday life (sorry, Google Home)- an ability to walk, talk, and perform simple daily actions

Elon wants you to have a humanoid at home. Who knows - maybe AI will be writing this newsletter in a few years. 😂

5 - UK households brace for spike in mortgage payments. 🧨

The bills are gonna get steeper. 

This week has been absolutely brutal for British markets - the country has ripsawed and the currency has bled massively. 

Households are suddenly facing borrowing costs that they can't afford. 

Some buyers are pushing for significantly cheaper properties to make up for these higher payments - which indicates a sign of panic in the market.

Markets are expecting rates to sit at 6% by the spring - which is an insane jump. 

Mortgage owners who managed to lock in near-zero rates last year are sick with happiness rn.

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