October 20, 2022: -Treasury yields increased across the board as concerns over a recession spread among investors, and markets looked ahead to releasing housing market data.
The yield on the 10-year Treasury was previously at 4.059, up by 6.1 basis points after hovering just below the critical 4% level on Tuesday.
Concerns regarding a recession have been growing louder among investors as the Federal Reserve continues to follow a hawkish path with interest rate hikes.
This has started filtering into profits prognoses, with some companies and analysts rectifying their outlook downward for the coming quarters.
A fourth consecutive 75 basis point rate hike is widely expected from the central bank at their meeting in early November, and Fed speakers have suggested that this activity could continue.
At an event, Minneapolis Fed President Neel Kashkari said he saw no reason not to push the central bank’s benchmark funds rate above 4.75% to tackle inflation. Such levels were later seen in the first half of 2006.
Further Fed speakers are due to make remarks on Wednesday, and housing starts and building access data will be released. This could give traders additional insights into the state of the U.S. economy and the impact economic developments have on consumers.
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AspenTech, a Massachusetts-based company, plays a pivotal role in the oil and gas industry by leveraging cutting-edge technologies, including AI (artificial intelligence). Let’s delve into how AspenTech contributes to this dynamic sector
It’s no secret that oil and gas is a boom-and-bust industry. Production is currently up, projected to increase to 13.7 million barrels daily in 2024. But this won’t last forever. Whether production is up or down, the key to maximizing production, optimizing efficiency, and taking advantage of increased profits is innovation, digital transformation,and automation.For stakeholders looking to deliver safer, more efficient, and cheaper energy, innovation and automation must be a top priority. Those who fall behind in the race to innovate, ultimately, run the risk of losing market share.
Talking to Thomas Hundertmark, a senior partner in McKinsey’s Houston office, Darren Woods is chairman and CEO of ExxonMobil made some crucial points and also gave some insights on what the conglomerate was doing in order to save the climate.
Today oil and gas producers face severe regulatory and public relations obstacles due to the concern with greenhouse gases and resource depletion. Calgary-based start-up, Advanced Upstream (“AU”), has been disrupting the oil and gas industry with simple and reliable innovative technologies. AU’s products help the oil and gas producers to enhance energy production while reducing the corresponding environmental impact. By decreasing personnel and time on site, and lowering overall HSE risks across the board, the clients can see a notable improvement in their ESG rating, contributing to their bottom line.
Jasmin Staiblin, Chief Executive Officer of ABB Switzerland, says, “Global energy consumption continues to grow and, if left unabated, will lead to an ever-greater risk of irreversibly changing our climate. To take advantage of more sustainable energy sources, the energy landscape is in a state of profound change to allow the integration of increasing amounts of renewable energy sources into the grid, to allow infrastructure to run more intelligently and efficiently, and to ensure the supply of energy is available at all times.
The activation of the Fallon Two Rock solar farm project has recently bolstered the Californian energy …