Happy Monday, Munchers! 🙏

Hope you had a good two days of rest and relaxation. We'll try to survive this week together.

As always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 4 minutes and 55 seconds.

Yesterday, trade wars got ready to take a big bite out of global economy, the UN ran away from it's climate duties, and FTX owed it's top 50 creditors over $3 billion. 🔥

Let’s dive in.

What’s hot, what’s not?

Story Roundup

1 - Trade wars are set to leave a $1.4tr dent in the global economy. 🌍

The US-China trade war has been going on for a long time.

It's also a pretty sizeable one - worth about $600 billion.

The last few months have been defined by semiconductor supremacy, with Washington imposing export bans to try and squeeze China's chip supply.

But the IMF thinks that things could get worse.

If the two biggest economies in the world are at each others' throats, we could sleepwalk ourselves into a less secure and poorer world.

They've estimated the total toll from this trade war to clock in at $1.4 trillion.

Now that's a sticky situation.

2 - UN sets up a climate fund but runs away from saving the planet. 🌲

COP27 seems to be working it's magic.

Poorer countries suffering from the effects of climate change will now be able to get help from richer countries under a pretty historic agreement by the UN.

But these talks ended on a pretty heated note after negotiators from Saudi Arabia and Russia angrily rejected plans to cut fossil fuel use and reduce greenhouse emissions.

The final deal was structured to allow continue use of fossil fuels, just under the brand of "low emission energy".

Oh well, follow the money. 💰

3 - FTX wrote checks that their bank account couldn't cash. 💸

SBF is in a right mess.

FTX owes over $3.1 billion to it's top 50 creditors. Bankruptcy filings also revealed that over 1 million people/ businesses could be owed money.

A court ordered them to review their global assets and start "selling everything they can".

There are barely any detail about how much clients will get back, but the rule of thumb is to take your investment and multiply it by 0. 🤷

4 - King Dollar takes a chill pill. 😤

Easing American inflation and slowdown in energy markets have meant that the King Dollar is starting to take it's crown off.

While it's up 11% this year, it fell over 4% in November.

That's the largest monthly fall in a long, long time and it tells us that investors think that the Fed won't go Ham on rate hikes.

Data on the housing and manufacturing industries has also showed that the broader economy is in a tighter spot - which could deter the Fed from hiking quickly.

JPow sets the stage, we just dance. 🕺

5 - India emerges as a tough nut to crack. 🥜

While aggressive inflation scorches global economies, India seems to be chilling.

The Reserve Bank has projected GDP growth to weigh in at 7% this year - an astounding number when other economies are struggling to stay afloat.

Domestic inflation seems to be averaging about 4% - which is pretty darn good for a country with 1.4 billion people.

It looks like all the RBI needs to do is repair their balance sheet, and they're good to go. 🚀

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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