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Reuters —Venezuela is battling a record number of wildfires, according to data released on Monday, as a climate change-driven drought plagues the Amazon rainforest region. An aerial view shows a burned forest after a forest fire in Henri Pittier National Park on March 30. Leonardo Fernandez Viloria/ReutersA Bolivarian National Police helicopter flies over during a wildfire in the Henri Pittier National Park on March 29. The fires are blanketing with smoke Guayana City, Venezuela’s largest urban center in the Amazon, according to a Reuters witness. In Venezuela, Lozada, firefighters and other experts said the government response was lacking.
Persons: Manoela Machado, ” Machado, , , Carlos Carruido Perez, Henri Pittier, Leonardo Fernandez Viloria, Henri, Jose Rafael Lozada, Michael Coe, Lozada, Juan Carlos Hernandez, ” Lozada, Oxford’s Machado, William Lopez Organizations: Reuters —, Satellites, University of Oxford, Henri, Reuters, Bolivarian National Police, NASA, Universidad de Los, Research, AFP, Getty, “ Firefighters Locations: Reuters — Venezuela, Venezuela, South America, Pacific, Brazil’s, Brazil, Henri, Uverito, Manhattan, Universidad de Los Andes, Merida, Brazil’s Roraima, Roraima, Naguanagua, Carabobo State
CNN —The current El Niño is now one of the strongest on record, new data shows, catapulting it into rare “super El Niño” territory. It means a very strong El Niño is ongoing. El Niño influences weather around the globe, so its strength and demise will continue to have an impact on the weather we experience in the coming months. Average conditions during an El Niño winter across the continental US. El Niño has been known to enhance atmospheric river events on the West Coast.
Persons: El, El Niño, Niño, Michelle L’Heureux, ” L’Heureux, L’Heureux, El Niños, Javier Torres, There’s, CNN’s Rachel Ramirez, Brandon Miller Organizations: CNN, El, AFP, Getty Locations: El, California, West Coast, Americas, Chile, Valparaiso, South America, Africa, Australia, Asia
No till farming minimises soil disturbance, which helps keep carbon in the soil and also enriches soil biodiversity, reducing the need for chemical fertilisers that emit greenhouse. Zimbabwe is one of the countries worst affected by the El Nino weather pattern and struggles to feed itself. Zimbabwe produced 2.3 million tons of maize last year. The country requires 2.2 million tons of the staple grain annually for human and livestock consumption. "This is a reflection that farmers are adopting the recommended climate-proofing interventions, especially during the El Nino condition," cabinet said in a statement released late on Tuesday.
Persons: Vangelis Haritatos, Mthuli Ncube, Zimbabwe's, Nelson Banya, Michael Perry Organizations: Reuters, El, Finance, Nino Locations: HARARE, Zimbabwe, El Nino, Pacific
January Was World's Warmest on Record, EU Scientists Say
  + stars: | 2024-02-07 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +2 min
By Kate AbnettBRUSSELS (Reuters) - The world just experienced its hottest January on record, continuing a run of exceptional heat fuelled by climate change, the European Union's Copernicus Climate Change Service (C3S) said on Thursday. Last month surpassed the previous warmest January, which occurred in 2020, in C3S's records going back to 1950. Every month since June has been the world's hottest on record, compared with the corresponding month in previous years. "Rapid reductions in greenhouse gas emissions are the only way to stop global temperatures increasing," she said. Still, average global sea surface temperatures last month were the highest for any January on record.
Persons: Kate Abnett BRUSSELS, Samantha Burgess, Kate Abnett, Sandra Maler Organizations: El, Nina Locations: U.S, Paris
Futures contracts on orange juice , cocoa , coffee and sugar have soared in part because of extreme weather and supply concerns related to El Niño. "You can say El Niño has a sweet tooth because it sort of eats or takes away much of the sugar in the world," Carlos Mera, head of agri commodities market research at Netherlands-based Rabobank, told CNBC. "Sugar prices have probably already been passed on [to consumers] but certainly for chocolate we should expect a big increase at retail level — and El Niño is certainly something to watch." Joe Raedle | Getty Images News | Getty ImagesThe effects of El Niño tend to peak during December, but the impact typically takes time to spread across the globe. It also warned that several crops could be adversely affected by El Niño early next year, while acknowledging there is the potential for some crops to benefit, citing those in the United States, southern Brazil and Argentina.
Persons: El, Carlos Mera, El Niño, Joe Raedle, Dave Reiter, Reiter, Sia Kambou Organizations: Future Publishing, Rabobank, CNBC, Getty, Reiter Capital Investments, Twitter, Workers, Afp Locations: Yichang City, China's Hubei, Netherlands, El, Orange, Miami , Florida, Southeast Asia, India, Australia, Africa, United States, Brazil, Argentina, Florida, Hermankono
REUTERS/Mike Segar/File Photo Acquire Licensing RightsLONDON, Dec 4 (Reuters) - U.S. crude oil production set a record for the second month running in September, highlighting the challenge to Saudi Arabia and its OPEC⁺ partners as they cut their own production to boost prices. Lower 48 production climbed to a record of 10.8 million b/d, surpassing the pre-pandemic peak of 10.5 million b/d set in December 2019. Drilling activity usually turns down around 4-5 months after prices and production turns down 10-12 months after prices fall. Production growth has slowed consistently since the middle of 2022 in response to the sharp fall in prices. Related columns:- U.S. oil output hits record as producers boost drilling efficiency (November 1, 2023)- U.S. oil producers reprieved by Saudi output cut (October 3, 2023)John Kemp is a Reuters market analyst.
Persons: Mike Segar, OPEC’s, John Kemp, Barbara Lewis Organizations: Bayway, REUTERS, OPEC, U.S . Energy Information Administration, Cooperation, Energy Information Administration, Thomson, Reuters Locations: Phillips, Linden , New Jersey, U.S, Saudi Arabia, Gulf of Mexico, Alaska, OPEC, United Kingdom, Russia, Soviet, Vienna, Brazil, Guyana, El, Saudi
During the Atlantic hurricane season, 20 storms formed, seven of which reached hurricane strength, ​​meaning sustained winds of at least 74 miles per hour. Storms that experienced rapid intensification Rapid intensification Atlantic storms Extremely rapid intensification Lee 150 m.p.h. wind speed Hilary Lidia 100 50 0 4 0 6 8 2 10 12 14 16 Days since start of storm Atlantic storms Rapid intensification Extremely rapid intensification Lee 150 m.p.h. Despite its strength, the slightly cooler waters near Mexico’s Baja Peninsula would rapidly weaken Hilary to a tropical storm. The background graphic shows the storm moving from a tropical storm to a Category 5 hurricane before making landfall on Oct. 25.
Persons: El Niño, ” James P, , Kossin, Otis, Hilary Lidia 100, Philip Klotzbach, Klotzbach, Hurricanes Lee, Idalia, Hilary, Hurricane Hilary, , Eric Blake Organizations: Canada New York United States Houston, Canada New York United States, Houston, Canada New York United, Canada New York United States Los, PACIFIC, ATLANTIC, Eastern, OCEAN United, OCEAN United States Los, OCEAN United States Los Angeles Houston mexico Mexico City, Atlantic, University of Wisconsin, El, Pacific, National, Colorado State University, East, Hurricanes, Hurricane, U.S, National Hurricane Center Locations: Canada, Canada New York United States Houston Miami mexico Cuba Mexico, Houston Miami mexico Cuba Mexico, Canada New York United States, PACIFIC OCEAN, Miami mexico Cuba Mexico, Atlantic, Eastern Pacific, OCEAN United States, OCEAN United States Los Angeles Houston mexico Mexico, Eastern, North America, Pacific, Madison, Florida, United States, Florida’s Big Bend, Cuba, Caribbean, Cancun, Gulf, Mexico, Bend, Georgia, South Carolina, Florida , Georgia, North Carolina, California, Peninsula, Baja California, Southern California, Death, Acapulco
The Malta-flagged container ship attacked in November is managed by Singapore-based Eastern Pacific Shipping (EPS), which is in turn controlled by Israeli billionaire Idan Ofer. The same image can be seen in a Reuters report (photograph 8/19) (archived) about the incident dated Jun. Another photo of the ship on fire, captured from a different angle, was also published by Reuters (archived) in 2019. At the time, the U.S. blamed the incident (archived) and an explosion aboard a second tanker in the Gulf of Oman on Iran, which denied the allegations. The ship image dates to 2019 and is unrelated to the Nov. 24, 2023, attack on the Mayet.
Persons: Idan Ofer, Read Organizations: Eastern Pacific Shipping, CMA, Reuters, U.S, Galaxy Leader, Facebook, Twitter, Iranian Students ’ News Agency, Thomson Locations: Norwegian, Gulf of Oman, Malta, Singapore, Iranian, Israel, Red, ISRAELI, U.S, Iran
RIYADH, Nov 25 (Reuters) - A container ship managed by an Israeli-controlled company was hit by a suspected Iranian drone in the Indian Ocean, causing minor damage to the vessel but no injuries, a U.S. defence official said on Saturday. The Malta-flagged CMA CGM SYMI, recently renamed Mayet, was struck on Friday by an unmanned aerial vehicle, which appeared to be an Iranian Shahed-136 drone, in the northeast portion of the Indian Ocean, the official said, asking not to be named. Israel called the vessel's seizure an "Iranian act of terrorism". Singapore-based Eastern Pacific Shipping (EPS), which had rented Mayet, said it was aware a container ship was targeted in a possible security incident on Friday. The United States has blamed Iran for unclaimed attacks on several vessels in the region in the past few years.
Persons: Yemen's Houthis, Idan Ofer, Mayet, Aziz El Yaakoubi, Sybille de La, Maayan, Helen Popper Our Organizations: Eastern Pacific Shipping, Reuters, Dubai's, United, Britain's Maritime Trade Operations, Dubai Newsroom, Thomson Locations: RIYADH, Israeli, U.S, Malta, Iranian, Iran, Russia, Ukraine, Israel, Singapore, Dubai's Jebel Ali, Oman's, United States, Tehran, Red, Paris, Jerusalem
Last month smashed through the previous October temperature record, from 2019, by a massive margin, the EU's Copernicus Climate Change Service (C3S) said. The record-breaking October means 2023 is now "virtually certain" to be the warmest year recorded, C3S said in a statement. "When we combine our data with the IPCC, then we can say that this is the warmest year for the last 125,000 years," Burgess said. The only other time before October a month breached the temperature record by such a large margin was in September 2023. Michael Mann, a climate scientist at University of Pennsylvania, said: "Most El Nino years are now record-breakers, because the extra global warmth of El Nino adds to the steady ramp of human-caused warming."
Persons: Akhtar Soomro, Samantha Burgess, Copernicus, C3S, Burgess, Michael Mann, El, El Nino, Piers Forster, Kate Abnett, Jan Harvey Organizations: REUTERS, Rights, Union, El, University of Pennsylvania, El Nino, University of Leeds, Thomson Locations: Jacobabad, Pakistan, Rights BRUSSELS, El Nino, Libya, South America
While freezing temperatures are not uncommon for the time of year, the sudden change is unusual. A few days ago, uncharacteristically warm weather saw parts of northern China post record high temperatures exceeding 30C. Winter this year, however, could be warmer due to a moderate El Nino, Jia Xiaolong, deputy director of China's National Climate Centre, told a press conference on Friday. El Nino is a natural climate pattern associated with warming of the ocean surface temperatures in the central and eastern Pacific. But statistics showed that winter temperatures could fluctuate greatly during El Nino, Jia warned.
Persons: REUTER, Tingshu Wang, Doksuri, El, Jia Xiaolong, El Nino, Jia, Ethan Wang, Ryan Woo, Simon Cameron, Moore, Robert Birsel Organizations: Business, Rights, El, China Meteorological Administration, CMA, Authorities, El Nino, Climate Centre, 0.5C, Thomson Locations: China, Rights BEIJING, El Nino, Mongolia, Xinjiang, Beijing, Tianjin, Hebei, Mohe, Pacific, El
The Category 5 hurricane damaged nearly all of Acapulco's homes, left bodies bobbing along the coastline and much of the city foraging for food. She and hundreds of thousands others lived two hours of terror last week, and now face years of work to repair their already precarious lives. Living in a two-room concrete house with no potable water and unpaved roads, that glamor never reached their doorstep. —Otis intensified within hours from a tropical storm into the strongest hurricane to hit the Eastern Pacific coast, taking many by surprise. García Ramirez and other fishermen pulled the boats onto the city’s Manzanilla Beach when Otis was still a Category 2 storm.
Persons: — Estela Sandoval Díaz, Hurricane Otis, Sandoval, l, ” Sandoval, “ They’ve, They’ve, Otis, Andrés Manuel López Obrador, , they'd, — Sandoval, glamor, Viverista, , I’ve, López Obrador, — Otis, Jim Kossin, Eleazar García Ramirez, there’s, García Ramirez, They’re, Seth Borenstein, Félix Márquez Organizations: Associated Press, Military, AP, Avid, Residents, Authorities Locations: ACAPULCO, Mexico, Acapulco, chicest, Washington
You can thank the cyclical weather pattern known as El Niño for that. Increased rainfall is likely in South America and severe drought in Australia, Indonesia and parts of southern Asia. El Niño may have played a role in that transformation over a scant 24 hours; the warmer sea surface temperatures associated with the weather pattern provide favorable conditions for hurricane development in the eastern Pacific. The human toll of these El Niño repercussions is immense. As we enter another year of El Niño, one that could be “historically strong,” the challenge is on for rich nations to coordinate and deepen their assistance to developing countries before they face these foreseeable consequences.
Persons: Hurricane Otis, El Locations: South America, Australia, Indonesia, Asia, Peru, India, Pacific Coast, Mexico, El
CNN —Hurricane Otis is expected to make landfall Wednesday morning as a Category 5 storm near Acapulco in Mexico, threatening to lash the coastal region with destructive winds, heavy rainfall and potentially “catastrophic storm surge,” forecasters say. Landfall is expected by early Wednesday near or just west of the city, a beach resort town on Mexico’s Pacific coast, the hurricane center said. The heavy rainfall could lead to flash and urban flooding as well as mudslides in higher terrain areas, the hurricane center warned. If Otis makes landfall as a Category 5 hurricane, it would be the first Category 5 landfall for the East Pacific, according to the NOAA Hurricane Database. The previous strongest landfall was Hurricane Patricia in 2015, which made landfall as a Category 4 Hurricane with winds of 150 mph.
Persons: Hurricane Otis, Otis, cnnweather Otis ’, Phil Klotzbach, Patricia Organizations: CNN, Hurricane, Punta Maldonado, Colorado State University, East, NOAA, Otis Locations: Acapulco, Mexico, Punta, Zihuatanejo, Lagunas, Puerto Vallarta, Manzanillo
Shipping company Maersk posted record annual earnings for 2022 but warned that profits are set to tumble this year as a "more balanced demand environment" emerges. CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. GPS, geospatial intelligence and satellite communications are the invisible backbone that powers the world's largest industries today." That's the core of Space Capital managing partner Chad Anderson's pitch to new investors about the value of the space industry – and I think the "invisible backbone" element serves as an important reminder. Satellites have been, are, and will continue to be a critical backbone of the world's industries – even if we don't notice.
Persons: CNBC's Michael Sheetz, Chad Anderson's, David Sherry, Sherry, Starlink, We've, Lloyd Organizations: Shipping, Maersk, Space Capital, Starlink, Mitsui, Eastern Pacific Shipping, Polembros Shipping Locations: Danish, Mitsui O.S.K
Scientists were surprised to find seven fully intact sea otters in the orca's stomach. Combined, the sea otters weighed a whopping 242 pounds. But why sea otters? One of the sea otters was found lodged in the orca's esophagus, blocking her respiratory tract. AdvertisementAdvertisementWhy she swam all that way and why she seemingly swallowed seven otters whole may never be entirely clear.
Persons: , Alex Ford, Sergey V, LiveScience Organizations: Service, University of Portsmouth, Newsweek, Reuters Locations: Russia, Eastern Pacific, Gulf of Alaska, California
PHOENIX (AP) — After a summer of extreme heat, Arizona’s most populous city is in the record books again. The National Weather Service said Sunday that the monsoon season this year in the arid Southwest dropped only 0.15 inches (.38 centimeters) of rainfall from June 15 to September 30. Phoenix’s average rainfall during a monsoon season is 2.43 inches (6.1 centimeters). Confirmed heat-associated deaths in Arizona’s most populous county continue to rise in the aftermath of the record summer heat. Scientists predict the numbers will only continue to climb as climate change makes heat waves more frequent, intense and enduring.
Persons: Phoenix Organizations: PHOENIX, National Weather Service Locations: Pacific, Gulf of California, Arizona, Nevada, New Mexico, U.S, Arizona’s, Maricopa County, Maricopa, Phoenix, United States
Lee enters rare companyA satellite image of Hurricane Lee provided by the National Oceanic and Atmospheric Administration. How close will Hurricane Lee get to the US? An area of high pressure over the Atlantic, known as the Bermuda High, will have a major influence in how quickly Lee turns. As the high pressure weakens next week it will allow Lee to start moving northward. Scenario: Out to SeaLee could make a quick turn to the north early next week if high pressure weakens significantly.
Persons: Hurricane Lee, Lee, it’s, NOAA Lee, Hurricane Matthew, John Kaplan, Hurricane Allen, David Zierden, Coast Lee Organizations: CNN, Hurricane, US, National Hurricane Center, US East Coast Sunday, Virgin Islands, British, National Oceanic, Atmospheric Administration, NOAA, Hurricanes, Bermuda Locations: Caribbean, Leeward Islands, Puerto Rico, Leeward, Lesser, US Virgin Islands , Puerto Rico, Hispaniola, Turks, Caicos Islands, Bahamas, Bermuda, Haiti, East Coast, Lee, Coast, Carolinas
Lee was located about 1,130 miles east of the northern Leeward Islands, the center said. Imagine Lee headed into 1983 waters east of the Leeward Islands (27.5C)- 2023 Lee has 29.5C to work with- an astounding difference. The last Category 5 hurricane to roam the Atlantic basin was 2022’s Hurricane Ian. Lee will ramp up in intensity as the peak of the Atlantic hurricane season approaches. Sunday, September 10, is the climatological peak of Atlantic hurricane season, when the basin is at its busiest on average.
Persons: CNN — Lee, Lee, It’s, Jason Dunion, Hurricane Idalia, David Zierden, , ” Zierden, — Eric Blake 🌀, eason –, , ike, eason Organizations: CNN, National Hurricane Center, Eastern Seaboard, Leeward, NOAA’s Hurricane Field, Hurricane, ust, tate Locations: Caribbean, Leeward Islands, Windward, Gulf of Mexico, Leeward, ath
But a strong El Niño tends to produce a significant and observable impact on weather patterns, lowering gas consumption and prices. On four of those six occasions, strong El Niño conditions prevailed the following winter (1957/58, 1987/88, 1997/98 and 2015/16). But a strong El Niño would make warmer-than-average temperatures more likely depressing energy consumption and prices. The rapid development of a strong El Niño helps explain why U.S. gas prices remain low in real terms despite the recent depletion of working gas inventories. Traders have started to anticipate a strong El Niño will reduce gas consumption for heating and power generation this winter.
Persons: Nick Oxford, Niño, El, John Kemp, David Evans Organizations: Oasis Petroleum, Wink , Texas U.S, REUTERS, El Nino, El, Traders, Thomson, Reuters Locations: Wink , Texas, United States, U.S, Washington, Illinois, Maine, Niño's, El
U.S. forecasters raise 2023 hurricane forecast
  + stars: | 2023-08-10 | by ( Erwin Seba | ) www.reuters.com   time to read: +3 min
REUTERS/Marco Bello/File PhotoHOUSTON, Aug 10 (Reuters) - U.S. government forecasters on Thursday said they expect a more dangerous Atlantic storm season than previously projected, raising their Atlantic hurricane outlook due to high sea surface temperatures. In May, NOAA had predicted 12-17 named storms, 5-8 hurricanes and one to four major hurricanes. An average Atlantic season has 14 named storms, seven hurricanes and three major hurricanes. NOAA's forecast was raised "to account for record warm sea surface temperatures in the Atlantic," said meteorologist Matthew Rosencrans with the agency’s Climate Prediction Center. "We normally have our 4th named storm on August 14th and first hurricane on August 11th, and we are at 4 named storms and one hurricane."
Persons: Hurricane Ida, Marco Bello, Matthew Rosencrans, El, El Nino, Jim Foerster, Chris Hewitt, Erwin Seba, Gloria Dickie, John Stonestreet Organizations: REUTERS, U.S . National Oceanic, Atmospheric Administration, NOAA, Colorado State University, El Nino, El, World Meteorological Organization, Thomson Locations: Louisiana, Montegut , Louisiana, U.S, Pacific, United States, Hawaii, El Nino, Gulf, Mexico, Coast, Texas , Louisiana, Mississippi, London
REUTERS/Guglielmo Mangiapane/File PhotoSummaryCompanies Breaks previous record set in July 2019, by 0.2CHeatwaves searing Europe, North America and ChinaEarth may not have been this hot in 120,000 years - studyJuly 27 (Reuters) - July 2023 is set to upend previous heat benchmarks, U.N. Secretary-general António Guterres said on Thursday after scientists said it was on track to be the world's hottest month on record. Short of a mini-Ice Age over the next days, July 2023 will shatter records across the board," Guterres said in New York. It is statistically robust," said Piers Forster, a climate scientist at Leeds University in Britain. July is traditionally the hottest month of the year, and the EU said it did not project August would surpass the record set this month. However, scientists expect 2023 or 2024 will end up as the hottest year in the record books, surpassing 2016.
Persons: Guglielmo Mangiapane, 0.2C, António Guterres, Guterres, Karsten Haustein, Michael Mann, Haustein, Piers Forster, Friederike Otto, El Nino, , Gloria Dickie, Ali Withers, David Stanway, Mark Heinrich, Alison Williams Organizations: REUTERS, Meteorological Organization, WMO, Germany's Leipzig University, University of Pennsylvania, Southern, Leeds University, Grantham Institute, El Nino, El, Thomson Locations: Italy, Rome, Europe, North America, China, New York, Rhodes, U.S, Leipzig, Britain, U.S ., California, France, Spain, Germany, Poland, Sicily, Florida, Australia, South Korea, Japan, India, Pakistan, London, Pacific, EU, London , Ontario, Copenhagen, Singapore
In June, the U.S. National Oceanic and Atmospheric Administration (NOAA) declared that an El Nino is now under way. Meteorologists expect that this El Nino, coupled with excess warming from climate change, will see the world grapple with record-high temperatures. Here is how El Nino will unfold and some of the weather we might expect:WHAT CAUSES AN EL NINO? El Nino could offer a reprieve to the Horn of Africa, which recently suffered five consecutive failed rainy seasons. Historically, both El Nino and La Nina have occurred about every two to seven years on average, with El Nino lasting 9 to 12 months.
Persons: Kim Hong, heatwaves, El, El Nino, Michelle L'Heureux, Tom DiLiberto, DiLiberto, La Nina, Nina, Gloria Dickie, Jake Spring, Angus MacSwan, Sandra Maler Organizations: REUTERS, Nino, Reuters, El Nino, U.S . National Oceanic, Atmospheric Administration, NOAA, El, Graphics, el nino, NINO, U.S . West, La, Sao Paulo, Thomson Locations: Cheongju, South Korea, China, United States, Beijing, Rome, Americas, Asia, El, Pacific, Peru, Philippines, Canada, Central, South America, Australia, of Africa, Eastern Pacific, El Nino, London, Sao
CNN —An Australian sailor who spent months adrift in the Pacific Ocean alongside his beloved dog has recounted his remarkable tale of surviving on raw fish and rainwater after finally making it safely back to dry land. Sailor Timothy Lyndsay Shaddock and his dog Bella survived on raw fish and rainwater after being stranded for three months in the Pacific Ocean. CNNThe pair were eventually spotted in the Eastern Pacific Ocean “more than 1,200 miles from land,” according to Grupomar, the company that owns the tuna boat, in a tweet on Monday. The boat’s crew, led by Captain Óscar Meza Oregón, provided Shaddock with medical attention, hydration, and food, according to Grupomar. “I don’t know how far out in the ocean again I’ll be, you know, but I think I just love the nature,” he said.
Persons: Timothy Lyndsay Shaddock, Bella, , Shaddock, I’m, Polynesia –, , Captain Óscar Meza Oregón, ” Antonio Suarez, ” Shaddock, he’ll “ Organizations: CNN Locations: Australian, Mexican, Manzanillo, Mexico City, , Mexico, Cortes, of California, Polynesia
As the economy proved more resilient than expected, and the US has avoided recession so far, the case for a 2023 recession has been crumbling. The stock market, which entered bull market territory just a few weeks ago, has shown little sign this year that the economy could be headed for a downturn. Still, the bond market tells a different story: The New York Federal Reserve’s recession probability model calculates the probability that the US will enter a recession in the next 12 months by tracking the spread of 3-month and 10-year Treasury yields. US stock market closes early at 1 p.m. Tuesday: US stock market closed for July Fourth.
Persons: Brian Moynihan, “ We’re, , David Grecsek, Jerome Powell, it’s, “ we’re, Russell, Outflows, Brian Mulberry, Tim Courtney, Courtney ., , Niño, Samantha Delouya, El Organizations: CNN Business, Bell, New York CNN —, Federal Reserve, Bank of America, CNN, Vanguard, JPMorgan Chase, Investors, Fed, Investment Company Institute, Zacks Investment Management, New, Federal Reserve Bank of San, Exencial Wealth, Oceanic, Atmospheric Administration, NOAA, PMI, Labor Locations: New York, Federal Reserve Bank of San Francisco, El
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