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TOKYO, Nov 14 (Reuters) – Britain and the euro zone economies are likely to tip into recession next year, Morgan Stanley said, but the United States might make a narrow escape thanks to a resilient job market.

At the same time, China’s expected reopening after almost three years of COVID-19 curbs is set to lead a recovery in its own economy and other emerging Asian markets, the investment bank’s analysts said in a series of reports published on Sunday.

Full coverage: REUTERS

Elon Musk Says ‘I Have Too Much Work On My Plate’

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NUSA DUA, Indonesia, Nov 14 (Reuters) – Billionaire Elon Musk said on Monday he was working “at the absolute most amount…from morning til night, seven days a week” when asked about his recent acquisition of Twitter and his leadership of automaker Tesla Inc (TSLA.O).

“I have too much work on my plate that is for sure,” Musk said by video link to a business conference on the sidelines of the G20 summit in Bali.

Musk is chief executive of both companies and also runs rocket firm SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company. Wearing a batik shirt sent by the organizers, he appeared on screen lit by candles, explaining that he was speaking from a place that had just lost power.

Full coverage: REUTERS

Morning Bid: Don’t Get Carried Away

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A look at the day ahead in European and global markets from Anshuman Daga

Markets have got all excited after last week’s rip-roaring rally in global equities, a big tumble in U.S. Treasury yields and a bruising sell-off in the mighty dollar.

But don’t pop the champagne just yet.

Federal Reserve Gov. Christopher Waller said on Sunday that the Fed may consider slowing the pace of rate increases at its next meeting but that should not be seen as a “softening” of its battle against inflation.

Full coverage: REUTERS

Shares Mix On Fed Warning, China Acts On Property

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SYDNEY, Nov 14 (Reuters) – Asian share markets were mixed on Monday as a top U.S. central banker warned investors against getting carried away over one inflation number, while Chinese stocks gained on signs of aid for the country’s hard-hit property sector.

A modest miss on U.S. inflation was enough to see two-year Treasury yields dive 33 basis points for the week and the dollar lose almost 4% – the fourth biggest weekly decline since the era of free-floating exchange rates began over 50 years ago.

Full coverage: REUTERS

Oil Reverses Gains, Falls On China COVID Surge, Firmer Dollar

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SINGAPORE, Nov 14 (Reuters) – Oil prices pared earlier gains and fell on Monday, dragged down by a firmer U.S. dollar and record high coronavirus cases in major Chinese cities that dashed hopes of the reopening of the economy of the world’s biggest crude importer.

Contracts for Brent crude and U.S. West Texas Intermediate had edged up nearly 1% earlier in the session but later reversed their trajectory and headed lower.

Brent crude futures were down 32 cents, or 0.3%, to $95.67 a barrel by 0725 GMT after settling up 1.1% on Friday while WTI crude futures fell 39 cents, or 0.4%, to $88.57 a barrel after closing Friday’s session 2.9% higher.

Full coverage: REUTERS