Top-of-mind economic news as we start the week:
— US GDP grew at 2.6% in the third quarter, higher than the 2.3% consensus estimate.
— Treasury Secretary Janet Yellen said she doesn’t “see signs of a recession in this economy”. 63% of WSJ surveyed economists see one in the next year.
— Core PCE, a key measure of inflation for the Fed, rose by 5.1% year-over-year in September, below economist expectations.
— The EU announced that they have agreed to legislation requiring all new cars and vans registered in the EU to be zero-emission by 2035.
— Rishi Sunak became Britain’s third prime minister in less than two months following the exits of Boris Johnson and Liz Truss.
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