SUMMARY: As Joe Biden exits office, a new poll reveals Americans hold a bleak view of his presidency, with only about 25% considering him a “good” or “great” president, significantly lower than perceptions of Donald Trump and Barack Obama at similar points. Discontent is particularly pronounced among Black and Hispanic communities, traditionally Democratic voters, who feel Biden has not fulfilled promises or improved their circumstances. Many voters, especially younger individuals, view his presidency negatively, attributing issues such as rising costs and immigration challenges to Biden’s leadership. Overall, public sentiment reflects disappointment amid a backdrop of legislative achievements.

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SUMMARY: Asian shares declined on Friday, influenced by a closed U.S. market for a National Day of Mourning for former President Jimmy Carter. U.S. futures dropped as oil prices increased. Analysts cited waning confidence in potential interest rate cuts by the Federal Reserve amid strong U.S. economic data. Minutes from a recent Fed meeting revealed concerns about inflation and the incoming Trump administration’s trade and policy changes. Regional markets, including Japan and China, showed losses. In bond markets, yields remained steady after recent increases linked to better-than-expected economic reports and inflation concerns. Brent crude oil prices rose slightly.

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SUMMARY: California’s wildfires, including the most destructive blaze in Pacific Palisades, are challenging the state’s insurance market. With many insurers halting policies in high-risk areas, homeowners face rising insurance costs or must turn to the FAIR Plan, which offers limited coverage. The number of FAIR Plan policies has surged, but its ability to handle large claims from these fires remains uncertain. To address the crisis, California has updated regulations to allow insurers to consider climate change in pricing and pass on reinsurance costs. However, premiums may rise, and the long-term impact on the market is still unclear.

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