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EUROPEAN MIDDAY BRIEFING : Stocks Rise as -2-

10/22/2021 | 03:51am EST

GfK's consumer-confidence barometer decreased to minus 17 in October from minus 13 in September, missing economists' expectations and falling to the lowest level since February. Economists had expected the barometer to fall to minus 15.

European Leaders Urge Caution in EU Clash With Poland

European Union leaders urged Brussels to act cautiously in an escalating fight with Poland's nationalist government over its judiciary as the bloc's heads of government gathered Thursday for a summit.

The latest fight centers on a ruling by Poland's constitutional tribunal two weeks ago that EU treaty law has become incompatible with Polish law-an unprecedented ruling from a national court. The ruling was delivered in response to a legal question posed by Polish Prime Minister Mateusz Morawiecki.

Global Finance Watchdog Censures Turkey Over Money Laundering, Terrorist Financing

WASHINGTON-A global watchdog on Thursday added Turkey to its list of countries requiring special regulatory oversight for failing to stop money laundering and terrorist financing, a designation analysts say will rattle Ankara's already shaky economy.

The action means Turkey joins a group of 23 countries-including Zimbabwe, Haiti and Syria-that the Financial Action Task Force determined "have strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing."

Deutsche Bank Whistleblower Gets $200 Million Bounty for Tip on Libor Misconduct

A whistleblower whose information helped U.S. and U.K. regulators investigate manipulation of global interest-rate benchmarks by Deutsche Bank AG was awarded nearly $200 million for assisting the probe, according to people familiar with the matter.

The payout is the largest ever by the Commodity Futures Trading Commission, which along with the Justice Department and U.K. Financial Conduct Authority settled enforcement actions against Deutsche Bank in 2015.

GLOBAL NEWS

China Evergrande Makes Overdue Interest Payment on Dollar Bonds, State Media Says

China Evergrande Group made an overdue interest payment to international bondholders, the state-owned Securities Times reported Friday, an unexpected move that allows the property company to stave off a default.

The Chinese real-estate developer on Thursday sent $83.5 million to the trustee for the dollar bonds, and that financial institution will in turn pay bondholders, the Securities Times reported. The financial paper is run by the Communist Party's flagship People's Daily newspaper.

Biden Could Use National Guard to Help With Supply Chain Bottlenecks

WASHINGTON-President Biden said he would consider deploying the National Guard to assist with supply-chain bottlenecks that have led to shortages and higher consumer costs, if his administration is unable to ease the problem.

"The answer is yes, if we can't move-increase the number of truckers, which we're in the process of doing," Mr. Biden said during a CNN town hall on Thursday when asked about deploying the National Guard.

U.S. Issued $100 Billion in Export Licenses to Suppliers of Huawei, SMIC

The U.S. Commerce Department issued more than $100 billion worth of export licenses for semiconductors and other products to suppliers of Huawei Technologies Co. and another blacklisted Chinese tech company, as a global chip shortage started to bite.

The Commerce data, released Thursday by a Republican member of Congress, shows the department granted 113 export licenses worth about $61 billion for suppliers of telecom giant Huawei and 188 licenses valued at $42 billion for suppliers of Semiconductor Manufacturing International Corp., China's largest chip maker, from Nov. 9, 2020, through April 20 this year.

Investors Bet Inflation Pressures Will Linger

A key measure of investors' inflation expectations has climbed in recent weeks, adding fuel to concerns about rising consumer prices.

As of Wednesday, the gauge known as the 10-year break-even rate suggested that the consumer-price index will rise by an annual average of 2.57% over the next decade, according to Federal Reserve Economic Data, or FRED. That is up from a recent low of 2.28% in late September and the highest level since 2013.

Natural-Gas Prices Fall From Peak as Warm Autumn Buoys Stockpiles

Natural-gas prices have shed 19% since hitting a 13-year high earlier this month, reversing some of a run-up that has prompted fears of exorbitant heating bills and higher manufacturing costs at a time of already high prices.

A warm start to autumn is behind the decline. With most of the country yet to turn the heat on, gas has accumulated in storage facilities faster than expected and shrunk a deficit that prompted worries over winter price surges and even potential shortages.

Moderna and J&J Covid-19 Boosters, Mixing and Matching Backed by CDC

Centers for Disease Control and Prevention Director Rochelle Walensky recommended Covid-19 booster shots from Moderna Inc. and Johnson & Johnson and backed mixing vaccines with a different booster dose.

With Dr. Walensky's greenlight Thursday, the vaccine doses can now become available at doctor's offices, pharmacies and vaccination sites on Friday, a CDC spokeswoman said. It follows unanimous recommendations from a panel of experts advising the CDC.

Biden Signals Openness to Ending Filibuster on Some Issues

WASHINGTON-President Biden signaled he is open to doing away with the filibuster to pass legislation to overhaul election rules nationwide and may be amenable to eliminating the 60-vote threshold for other bills as well.

Asked if he would consider establishing a filibuster carve-out to advance voting legislation, Mr. Biden said during a CNN town hall on Thursday night: "And maybe more."

Write to paul.larkins@dowjones.com

Write to us at newsletters@dowjones.com

We offer an enhanced version of this briefing that is optimized for viewing on mobile devices and sent directly to your email inbox. If you would like to sign up, please go to https://newsplus.wsj.com/subscriptions.

This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

10-22-21 0551ET

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