Written by Econintersect
Early Bird Headlines 13 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
- Asia stocks decline as tensions in Hong Kong remain high (CNBC) Stocks in Asia slipped on Tuesday as tensions remained high in Hong Kong amid increasingly violent protests. The U.S. dollar index was higher at 97.564 after touching an earlier low of 97.444. Brent crude futures declined 0.63% to $58.20 per barrel and U.S. crude futures shed 0.56% to $54.62 per barrel. Spot gold rose 0.3% to $1,515.32 per ounce as of 0334 GMT, after hitting its highest since April 2013 at $1,518.03. U.S. gold futures rose 0.6% to $1,526.90 an ounce. Treasury yields were mixed with small changes.
U.S.
- The Treasury yield curve has been warning about a recession, but strategists say it’s about to send an even louder and stronger message, as the 10-year yield looks set to fall below the 2-year note yield.
- If that happens, it would be the latest, and the most widely watched, part of the Treasury yield curve to invert, and an inversion is typically a reliable recession warning.
- “It’s the whole idea that the Fed is making a mistake. There’s more fear that the Fed is going to be slow in making moves, and the economy is going to to into recession,” said one strategist.
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- Three charts suggest stock sell-off could get worse (CNBC) From before today’sd trading:
The major benchmark indices, though suffering their worst day of the year on Monday, managed to end the week less than 1% lower.
However, while the S&P 500 was able to recoup the worst of its losses, Miller Tabak equity strategist Matt Maley says it could get worse before it gets better.
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China
- China Current Account Surplus is Growing (Twitter)
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Other important articles
U.S.
- In Short-Staffed Jail, Epstein Was Left Alone for Hours; Guard Was Substitute (The New York Times)
- Wall Street sees even more Fed rate cuts ahead with Morgan Stanley predicting a return to zero (CNBC)
- Fourth NRA board member resigns amid leadership turmoil (The Hill)
- The rural America death spiral (Axios)
- Trump rolls back endangered species protections (The Hill)
- Trump administration issues rules to deny green cards for immigrants on food stamps (PBS News Hour)
- GOP Sen. Rick Scott: Americans should get tax cuts in return for tariffs paid on Chinese goods (CNBC)
- NRA’s Tax-Exempt Status is in Danger as Donors Revolt (Newsweek)
EU
​UK
- Bolton says U.S. ready to negotiate post-Brexit trade pact (PBS News Hour)
Russia
- Russia’s deadly explosion linked to “unstoppable” missile (Axios)
- Russia says radiation levels rose by 4-16 times in city after accident: TASS (Reuters)
- Russia is tightening its grip on Africa, but Moscow doesn’t want to admit it (CNN)
China
- China fixes its yuan midpoint at 7.0326 per dollar (CNBC)
- Thousands of protesters shut down Hong Kong airport as Beijing condemns ‘terrorism’ (CNN)
- Chinese armed police truck convoy rolls into city near Hong Kong (South China Morning Post)
- China media says Hong Kong protesters are ‘asking for self-destruction’ as military assembles nearby (CNBC)
- Typhoon kills 45, strands residents in eastern China (PBS News Hour)
Argentina
- Brain-Dead Investors Get Crapped on Again by Argentina (Wolf Street)
Canada
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