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posted on 13 July 2017

Early Headlines: Asia Stocks, Oil, Gold All Up, Dollar Down, Trump Says Putin Preferred Clinton, Nonprime Mortgages Attract Investors, China Trade Up - Including With N. Korea, And More

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Early Bird Headlines 13 July 2017

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.


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“If Hillary had won, our military would be decimated. Our energy would be much more expensive. That's what Putin doesn't like about me. And that's why I say, why would he want me? Because from day one I wanted a strong military - he doesn't want to see that."

  • Highlights of Reuters interview with Trump (Reuters) The Reuters Oval Office interview with U.S. President Donald Trump on Wednesday is summarized.
  • Email Chain Turns Focus to Trump's Miss Universe Ally in Moscow (Bloomberg) He’s a real estate mogul with a pop-star son whose Trump Tower-sized ambitions helped bring the Miss Universe pageant to Moscow. But now, Aras Agalarov’s cameo appearance in the emails released by President Trump’s son, Donald Trump Jr., has drawn him into the firestorm around alleged Kremlin meddling in the U.S. election last fall.

The emails say Agalarov met in June 2016 with the “crown prosecutor of Russia" -- apparently a reference to Russian Prosecutor General Yuri Chaika -- who wanted to convey compromising information on then-Democratic presidential candidate Hillary Clinton to Trump. Agalarov’s son, Emin, then asked an associate to arrange a meeting between a Russian lawyer and the younger Trump, the emails say.

  • Exclusive: DOJ let Russian lawyer into US before she met with Trump team (The Hill) The Russian lawyer who penetrated Donald Trump’s inner circle was initially cleared into the United States by the Justice Department under “extraordinary circumstances" before she embarked on a lobbying campaign last year that ensnared the president’s eldest son, members of Congress, journalists and State Department officials, according to court and Justice Department documents and interviews. This revelation means it was the Obama Justice Department that enabled the newest and most intriguing figure in the Russia-Trump investigation to enter the country without a visa.
  • A big deal in nonprime mortgages proves leery investors are finally hungry again (CNBC) They're b-a-a-a-c-k!
  • Angel Oak Capital Advisors announced a more than $210 million deal on rated securitization of nonprime residential mortgages.
  • The deal is Angel Oak's second this year and largest ever.
  • The number of nonprime mortgage-backed securities totaled $1.08 billion in the second quarter of this year, according to Inside Mortgage Finance.
  • Massive copper mine tests Trump's push to slash regulation (Reuters) Rio Tinto's proposed Resolution Copper Mine in Arizona would tunnel 7,000 feet underground, where rocks radiate heat from the earth’s molten core. It would suck up enough water to supply a city and leave a crater a mile and a half wide and 1,000 feet deep. Planned for more than a decade, the project would be a prototype for a looming era of more invasive U.S. mines as companies run out of easy-to-reach deposits, geologists say. It is also the project President Donald Trump's Commerce Secretary, Wilbur Ross, had in mind as he began crafting a "hit list" of regulations that should be killed to speed industrial permitting. The massive project - which would be among the world's largest copper mines - underscores the dangers of weakening America's rigorous permitting process at a time mining endeavors are becoming increasingly complex and environmentally risky.

Sorting out the mine's potentially negative impacts is anything but simple, and many local residents, along with Native American and environmental groups, say Resolution is exactly the kind of development that cries out for intense public scrutiny - no matter how long it takes.

  • Report: Millennials are broke because they're making choices out of order (CNBC) A record 55% of millennial parents have had children before getting married - compared with 25% of the youngest baby boomers who did the same - and the trend could be costing them. That's according to a 2017 report published by Wendy Wang and W. Bradford Wilcox, which found that "the most financially successful young adults today continue to be those who put marriage before the baby carriage." Specifically, 86% of young people who got married before having kids are among the middle or top third of earners, while just 53% who put childbearing first have incomes in the middle or top third.



  • The size and location of Europe’s defence industry (Breugel) With a turnover of over €100 billion ($114 billion) in 2015, the European defense industry does not rank among the largest manufacturing sectors in the EU. Nevertheless, the industry employs around 500,000 people directly and indirectly generates 1,200,000 jobs (in 2014). This gives the industry an additional importance beyond its inherent security aspect. The structure of the European defence industry, similar to other manufacturing industries, is highly dispersed with a few large players and about 1350 small and medium-sized enterprises (SMEs). While companies are scattered over almost the whole EU, a few countries (Austria, Czech Republic, France, Germany, Italy, Poland, Spain, Sweden, and the United Kingdom) host the bulk of SMEs as well as top companies.

Click for larger image.



“... things that it shouldn’t and in the process ignoring the things that it should be doing."

North Korea

Last week U.S. President Donald Trump denounced China's trade with North Korea, saying it had grown almost 40 percent in the first quarter, and cast doubt on whether Beijing was helping to counter the threat from North Korea.

China has repeatedly said it is fully enforcing United Nations sanctions on nuclear-armed North Korea and there is nothing wrong with what it terms "normal" trade with Pyongyang, referring to areas not covered by sanctions.


  • China June trade beats expectations on robust demand, but headwinds eyed (Reuters) China posted stronger-than-expected June trade figures on Thursday, bolstered by firm global demand for Chinese goods and robust appetite for construction materials at home, but local curbs on lending could weigh on imports later this year. Exports from the world's second largest economy rose 11.3% from a year earlier, while imports expanded 17.2%, both beating analysts' expectations, official data showed.


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