Written by Econintersect
Early Bird Headlines 12 August 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
- Major Asia Pacific markets higher; trade war concerns dampen investor sentiment (CNBC) Major markets in Asia Pacific closed mostly higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. The U.S. dollar traded lower at 97.557. U.S. crude was off 0.29% to $54.34 a barrel and global benchmark Brent down 0.21% to $58.41. Spot gold was steady at $1,496.99 per ounce as of 0114 GMT. U.S. gold futures too were flat at $1,508.50 an ounce. At around 02:45 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.7223%, while the yield on the 30-year Treasury bond was also lower at around 2.2371%.
U.S.
- EPA dropped salmon protection after Trump met with Alaska governor (CNN) The Environmental Protection Agency told staff scientists that it was no longer opposing a controversial Alaska mining project that could devastate one of the world’s most valuable wild salmon fisheries just one day after President Trump met with Alaska’s governor, CNN has learned.
The EPA publicly announced the reversal July 30, but EPA staff sources tell CNN that they were informed of the decision a month earlier, during a hastily arranged video conference after Trump’s meeting with Gov. Mike Dunleavy. The governor, a supporter of the project, emerged from that meeting saying the president assured him that he’s “doing everything he can to work with us on our mining concerns.”
The news came as a “total shock” to some top EPA scientists who were planning to oppose the project on environmental grounds, according to sources. Those sources asked to remain anonymous for fear of retribution.
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- Jeffrey Epstein’s Opaque Finances Could Become Focal Point for Investigators (The New York Times) The money, tens of millions of dollars of it, would flow among Jeffrey Epstein’s dozens of bank accounts, shell companies and, at times, charities linked to high-powered friends. Where was the money going? What was it for? Who was actually sending and receiving it? A convicted pedophile and accused sex trafficker who surrounded himself with an elite network of business and political leaders, Mr. Epstein enjoyed the trappings of great wealth: private jets, mansions, his own island. But much remains unknown about the sources of his wealth. See also The Internal War In The Deep State Claims Its High Profile Casualty: Jeffrey Epstein.
China
- IMF stands by yuan view; says China could need stimulus if trade war worsens (Reuters) The International Monetary Fund on Friday stood by its assessment that the value of China’s yuan was largely in line with economic fundamentals, but an IMF official said the fund was encouraging China to pursue a more flexible exchange rate with less intervention. See also “Currency manipulator” label designation on China meaningless (Twitter):
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Other important articles
​U.S.
- The brand label that stokes Trump’s fury: ‘Racist, racist, racist.’ (The Washington Post)
- Jeffery Epstein’s apparent suicide is fueling rumors and questions. Here’s what we know, and what’s next (CNN)
- Epstein’s guards worked extreme OT shifts morning of death (Associated Press)
- Democrats blast Trump’s Epstein conspiracy theory retweet as Conway defends the president (The Hill)
- After Ivanka Trump Wishes Muslims ‘Eid Mubarak’ on Twitter, Critics Remind Her of Father’s Muslim Travel Ban (Newsweek)
- Trump killed the presidential weekly address, and no one noticed (The Washington Post)
- Between gun massacres, a routine, deadly seven days of U.S. shootings (Reuters)
- Top Scientist Quits USDA, Says Trump Admin Tried to Bury Study Linking Climate and Nutrition (EcoWatch)
EU
​UK
Saudi Arabia
India
- India’s central bank cuts rates to 9-year low as economy stumbles (CNN)
- More than 150 are dead as heavy monsoon rains batter India (CNN)
China
- China fixes yuan midpoint at 7.0211 on Monday – weaker than 7 for three consecutive sessions (CNBC)
- Death toll rises to 44 as typhoon Lekima wreaks havoc in eastern China (Reuters)
- Police fire tear gas at pockets of protesters across Hong Kong (CNN)
Guatemala
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