In today’s briefing:
- Three Presidents in One Month in South Korea – What’s Next?
- U.S. November Core PCE Prices Significantly Softer than Core CPI
Three Presidents in One Month in South Korea – What’s Next?
- The acting South Korean President Han Duck-Soo was impeached by the South Korea’s Parliament on 27 December. Choi Sang-Mok (finance minister) is now the new, acting President of South Korea.
- There could be multiple impeachments of acting Presidents in the next several weeks which would be unprecedented and raise further concerns about the lack of political stability in South Korea.
- Amid all this political uncertainty, Yoon Suk-Yeol’s approval rating has been improving sharply to more than 30%.
U.S. November Core PCE Prices Significantly Softer than Core CPI
- November PCE prices at 0.1% overall and core has sharply underperformed gains of 0.3% in both overall and core CP
- It eases some of the inflationary concerns generated by two straight gains of 0.3% in September and October core PCE prices.
- Gains of 0.3% in personal income and 0.4% in spending are also on the low side of consensus, though still respectable in real terms.
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