Written by Econintersect
Early Bird Headlines 03 July 2019
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, published Monday, Wednesday and Friday, 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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Notice: We have changed the form of content coverage for Early Bird. We will provide discussion only for Asia Markets news and a small number (often 1 or 2) other articles. The remainder of the content will be headlines (with links) only.
Key Articles
​Global
- Asian markets decline as trade worries weigh on investor sentiment (CNBC) Major Asian markets declined on Wednesday as global trade concerns weighed on investor sentiment. The U.S. dollar index was higher at 96.819 after touching lows around 96.6 yesterday. Brent crude futures added 0.22% to $62.54 per barrel, while U.S. crude futures gained 0.32% to $56.43 per barrel, partially recovering from steep losses yesterday. U.S. gold futures rose 0.8% to $1,419.2. Spot gold was down 0.06% at $1,417.38 per ounce, having earlier hit its highest since June 25, at $1,435.99. The yield on the benchmark 10-year Treasury note fell to its lowest level since November 2016 on Wednesday, continuing its slide below 2%.
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- Forget The G20, Global Manufacturing Recession Is Here (Seeking Alpha) Econoimist Daniel Lacalle says:
- The global economic slowdown is not due to lack of stimuli, but demand-side policy saturation.
- Manufacturing PMIs are in contraction in most major economies.
- No trade war truce or rate cut will likely change the slowdown.
U.S.
- U.S. Housing Market Signs of Slowing (Twitter) The U.S. housing market appears to be rolling over, a bad sign for the economy. See also:
Inflation-Adjusted May 2019 Construction Spending Year-over-Year Growth Falls Deeper In Contraction
May 2019 Pending Home Sales Improves?
May 2019 Headline New Home Sales: Even With This Month’s Decline, Best Sales Year-To-Date Since 2007
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Other Important Articles
U.S.
- USWNT advances to Women’s World Cup final with narrow win over England (CNN)
- Senator Warren asks former FDA chief Gottlieb to resign from Pfizer board (Reuters)
- Sanders slips in polls, raising doubts about campaign (The Hill)
- The Democratic Candidates Are in a Bubble on Immigration (New York)
- Secret Border Patrol Agent-led, Anti-Immigrant Facebook Group Must Be Shut Down and Participants Must Be Held Accountable (Latino Victory)
- Federal judge blocks Barr order on indefinite detention for asylum-seekers (The Hill)
- Trump touts July 4 military ‘salute’; critics see politics (Associated Press)
- After deadly NH biker crash, thousands of out-of-state traffic notices found untouched by Massachusetts RMV (USA Today)
EU
UK
- China criticizes Britain for ‘shameless’ comments on Hong Kong by British Foreign Secretary Jeremy Hunt (Reuters)
- UK PM candidate Johnson says he backs Hong Kong people ‘every inch of the way’ (Reuters)
Sweden
Iran
Russia
- Russia accused of cover-up over lethal submarine fire (Reuters)
- Submersible on which 14 sailors died is state secret, says Kremlin (The Guardian)
Brazil
- Report Shows Corporations and Bolsonaro Teaming Up to Destroy the Amazon (Mint Press News)
- ‘A bad trip’: Jair Bolsonaro’s first six months leave even the right dismayed (The Guardian)
Mexico
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