Headlines discussed at LNWM’s Monday morning briefing:
— The US economy grew 2% annualized in 3rd quarter 2021, much lower than the 2.6% expected and the slowest pace in a year.
— US new home sales (10% of market) rose 14% in Sept. (to a 6-month high of 800,000 units annualized) but are down 18% from a year ago.
— G20 leaders approved a 15% global minimum tax on corporations effective 2023 but made little progress on climate change, as Russia, China and India stalled on coal emissions.
— The United Nations climate change conference (COP26) started with dire warnings from global leaders and calls for all countries to take meaningful action to divert escalating disasters.
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