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posted on 05 November 2016

Early Headlines: Populism Analyzed, Fin Firm Internal Trading, Christie Allies Guilty, UK Services Inflation, UK House Price Growth Slows, China's Forex Reserves Shrink And More

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Early Bird Headlines 05 November 2016

Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.

early-bird-301-180

Global

  • Populism and democracy: Dr Jekyll and Mr Hyde? (The Conservation) As US voters consider whether to vote for Donald Trump, and Filipino citizens live with the fall-out of Rodrigo Duterte’s populist rhetoric, nine scholars from China to Brazil to Australia analyze the phenomena behind populism’s ascent in 2016.

  • More and More Bond Trading Is Being Done Under the Same Roof (Bloomberg) Internal trades between different managers within large asset management firms are happening more and more at some of the world’s biggest asset managers globally as banks withdraw from market making. Proponents of internal crossing -- as the practice is known -- say it can reduce costs, while detractors say it’s riddled with potential conflicts of interest and is exacerbating the decline in bond market liquidity. The trades are on the rise at funds including BlackRock Inc. and Legal & General Investment Management, which now trades more with itself than any other firm. The trend is the latest sign of a shift of assets and influence to the buy side from the sell side.

U.S.

  • FBI fear of leaks drove decision on emails linked to Clinton: sources (Reuters) FBI Director James Comey was driven in part by a fear of leaks from within his agency when he decided to tell Congress the FBI was investigating newly discovered emails related to Hillary Clinton, law enforcement sources said on Thursday. The examination of the email traffic is now being carried out under the tightest secrecy by a team at Federal Bureau of Investigations headquarters in Washington, the sources said, requesting anonymity because of the inquiry's sensitivity. Several sources said it was unclear whether the FBI would make any further public disclosures about its latest review before Tuesday's presidential and congressional elections. Two sources said such disclosures were unlikely.

  • Clinton Must Begin Waging Her Next War (Bloomberg View)

If Hillary Clinton wins the presidential election on Tuesday, she will be under no illusions about what awaits. Even if Donald Trump is defeated, the political party that nurtured his dangerous ambition will not be. (And Trump may never concede defeat in any case.)

Barack Obama was elected president in 2008 amid waves of euphoria. By the night of his inauguration, with the U.S. losing thousands of jobs a day and the world hurtling toward a second Great Depression, Republican leaders had decided to oppose every remedy Obama proposed in an effort to break him.

Clinton, the subject of "Lock her up!" chants at her opponent's political rallies, will not be afforded Obama's multi-hour honeymoon. The moment the election is over, Republicans will resume their effort to destroy her. (It's the one course they agree on.)

  • Obama speaks up for protester but is derided by Trump (Reuters) President Barack Obama chastised supporters at a rally for Democratic presidential nominee Hillary Clinton in North Carolina on Friday, as tensions spiked when a supporter of Republican opponent Donald Trump began protesting. But that didn't stop Republican presidential candidate Donald Trump, campaigning a few states away at the time, from telling a completely opposite version of what happened, condemning Obama for screaming at the protester.

  • Christie Allies Found Guilty on All Counts in Bridge Trial (Bloomberg) Two former allies of New Jersey Governor Chris Christie were convicted of joining a partisan plot to create crippling traffic near the George Washington Bridge as punishment for a local mayor who wouldn’t support the governor’s 2013 re-election. Jurors found Bridget Anne Kelly and Bill Baroni guilty on all counts, including conspiracy, fraud and civil-rights charges, for plotting to misuse Port Authority property. The petty vendetta exposed the underbelly of New Jersey politics and helped torpedo the ambitions of Christie, once a front-runner for the Republican presidential nomination and now an adviser to Donald Trump’s campaign.

  • Woman who gave birth in her car gets $7,400 bill for hospital delivery room (The Guardian) Paula D’Amore was never expecting to give birth in the backseat of her Jeep. A few hours after she felt a contraction on 7 April, she loaded into the car and her husband started driving to the hospital, only to feel a burning sensation as the car pulled into its driveway. Her husband ran into the hospital to tell the staff his wife was in labor. As he came back and opened the door, the baby began crowning and he was forced to deliver the head. Moments later, a few nurses joined at the car and a midwife helped complete the delivery of her newborn daughter, Danielle. Only after giving birth in her car was she taken to a recovery room because all the labor rooms at the Boca Raton regional hospital were full. Given that she gave birth in her car, D’Amore was shocked to receive a hospital bill that charged her more than $7,400 for a delivery room. She is also disputing an additional $4,000 bill for a time her daughter spent in the neonatal intensive care unit. The hospital has reviewed the bill and states that "all is in order".

UK

  • UK services sector hit by biggest one-month costs jump in 20 years (The Guardian) The UK services sector faced the biggest one-month jump in costs for 20 years in October in the latest sign that the sharp fall in the pound since the Brexit vote is starting to push inflation higher. The latest snapshot from the Markit/CIPS services PMI showed the sector - encompassing shops, hotels, bars and banks - grew at the fastest rate since January last month, beating economists’ expectations. However, Markit’s chief business economist Chris Williamson said the spike in firms’ costs was “the ugly flipside of the weaker pound", which has fallen about 17% against the dollar since the Brexit vote.

  • UK National House Price Growth (Walter Kurtz, Sober Look, The Daily Shot) Great Britain's home prices increases have slowed more than expected. But, given the relatively soft wage growth in the UK, the 4.6% per year appreciation is still too fast.

China

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