— The U.S. government will hit its borrowing limit between Jan. 14 and 23, the U.S. Treasury Secretary warned Congress and urged them to take measures to avoid default.
— The yield on 10-year U.S. Treasury bonds rose to 4.6%, the highest level since May 2024, with markets expecting just one interest rate cut by the Fed in 2025 on concern about inflation.
— U.S. consumer spending for the 2024 holiday season (Nov. 1 – Dec. 31) is expected to approach $1 trillion, per the National Retain Federal, on rising credit card balances.
— China accounted for 32% of global automotive production (including commercial vehicles) in 2023 (latest available) vs. 11.3% for the U.S. and 9.6% for Japan.
— New York State can start changing large oil and gas companies a fee based on their contributions to climate change damages, per a new law, whose implementation is yet to be determined.
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