Written by Econintersect
Early Bird Headlines 28 October 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 Pacific markets up, yuan strengthens as optimism on US-China trade rise (CNBC) Major Asia Pacific markets were in positive territory by Monday afternoon, as the U.S. and China appeared close to finalizing a “phase one” trade deal. Mainland China markets were up strongly. The U.S. dollar index was last higher at 97.804 but lower than an earlier high of 97.894. Oil prices declined in the afternoon during Asia hours with latest data showing that China’s economy continued to slow. Global benchmark Brent edged down 0.23% to $61.88 per barrel. U.S. crude was down 0.26% to $56.51. Spot gold was steady at $1,504.44 per ounce as of 0326 GMT. CNBC did not report Monday results for U.S. Treasury trades in Asia.
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U.S.
- President Trump Press Conference Al Baghdadi Announcement (Global News, YouTube) This is the full press conference which started at 9:00 am EDT Sunday morning (27October). The Q&A is included.
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- Sondland Told House Panels Trump’s Ukraine Pressure Was Quid Pro Quo (The Wall Street Journal) A top U.S. diplomat told House committees last week that efforts by President Trump and his allies to press Kyiv to open investigations in exchange for a White House meeting with Ukraine’s president amounted to a quid pro quo, his lawyer said.
Gordon Sondland, the U.S. ambassador to the European Union, told House committees that he believed Ukraine agreeing to open investigations into Burisma Group – a gas company where Democrat Joe Biden’s son once served on the board – and into alleged 2016 election interference was a condition for a White House meeting between Mr. Trump and Ukrainian President Volodymyr Zelensky, Mr. Sondland’s lawyer Robert Luskin said.
Asked by a lawmaker whether that arrangement was a quid pro quo, Mr. Sondland cautioned that he wasn’t a lawyer but said he believed the answer was yes, Mr. Luskin said.
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- ‘I feel bad that I left’: John Kelly warned Trump he would be impeached (The Washington Examiner) John Kelly warned President Trump that hiring a “yes man” to succeed him as White House chief of staff would lead to impeachment and, in hindsight, regrets his decision to resign. House Democrats launched an impeachment inquiry into Trump less than a year after Kelly departed the administration. The retired, four-star Marine general suggested the blame lies squarely with acting White House chief of staff Mick Mulvaney and other advisers who are unable, or unwilling, to keep the president out of trouble. See also ‘Totally unequipped’: White House fires back at John Kelly barbs (The Washington Examiner) – White House press secretary Stephanie Grisham: “I worked with John Kelly, and he was totally unequipped to handle the genius of our great President.”
Kelly, 69, said he privately cautioned Trump during his final days on the job that he would be impeached if he did not tap a chief of staff with the fortitude to check the president’s bad impulses. Kelly said he does not believe the president would be in this predicament had he stayed.
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- Tim Naftali and Max Boot Discuss Impeachment (CNN) Tim Nafalti, former director of the Richard Nixon Presidential Library and Museum, is a presidential historian and an associate professor at NYU. Max Boot is a traditional conservative columnist and editor, having worked for Christian Science Monitor, The Wall Street Journal, The Weekly Standard, The Los Angeles Times, and The New York Times.
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- Lindsey Graham Introduces Resolution to Condemn Impeachment Process (PBS News Hour, YouTube) See also next article. The transcript is available here which is the source of the graphic image below showing Graham’s list of “rights” given to Clinton during his impeachment process hearings that he says are denied to Trump. The list is flashed very quickly in the video without any chance to read the details.
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- Mark Levin on the House Impeachment Process (Fox News, YouTube) See also preceding article. The specific discussion of the House impeachment process starts at 1:18 below.
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Other important articles
U.S.
- Trump cites ‘Washington leaks’ for keeping raid on ISIS leader from congressional leaders (The Hill)
- Mueller report: Criminal probe into Russia inquiry begins (BBC News)
- ‘I don’t give a damn!’: Trump GOP challengers clash over impeachment (The Washington Examiner)
- These Trade Claims Made by Trump? They’re All Wrong (The New York Times) Hat tip to John O’Donnell, Online Trading Academy.
- The Fed and Apple earnings will make or break market’s return to record highs in the week ahead (CNBC)
EU
- Brexit: EU prepares to grant UK three-month extension (The Guardian) Leaked draft shows UK will have option to leave earlier if deal is ratified.
UK
Syria
- U.S. military convoy crosses border into northeastern Syria (NBC News)
- Syrian Kurdish forces say leaving Turkish border area, Damascus welcomes move (Reuters)
Russia
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Iraq
Vietnam
- Why do Vietnamese people make hazardous journeys to the UK? (BBC News)
- Vietnam says Britain seeks help to identify four truck victims (Reuters)
Japan
- Japan flooding: death toll rises to 10 as heavy rains hit east of country (The Guardian) Mudslides hit waterlogged areas in Chiba and Fukushima (2011 nuclear disaster) prefectures recovering from Typhoon Hagibis. Picture below: The Kashima Rive after torrential rain in Japan’s Chiba prefecture, east of Tokyo.
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China
- China’s industrial profits drop 2.1% in Jan-Sept (China Daily)
- While US-China ‘phase one’ trade deal stops escalation, analysts not optimistic for more by year end (CNBC)
- Analysts optimistic about progress of Sino-US talks (China Daily)
Argentina
- Argentina election: Macri out as Cristina Fernflndez de Kirchner returns to office as VP (The Guardian) Victory of Alberto Fernflndez’s presidential campaign puts an end to the pro-business economic policies of Macri’s administration.
Mexico
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