Early Headlines: Asia Stocks Up, Dollar Down, Oil Up, Gold Down, Yields Down, Articles Of Impeachment, China Trade Deal, No Shutdown, Conservatives Attack Trump, Johnson Landslide, Plus More - 20 Articles, 8 Graphics

Early Bird Headlines 13 December 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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Key Articles

Global

‘Christmas has come early’: Japan and Hong Kong soar more than 2.5% amid trade optimism (CNBC) Shares in Asia jumped on Friday following news that Washington and Beijing have agreed to a phase one trade deal in principle. The U.S. dollar index was sharply lower at 96.832 after seeing highs above 97.2 yesterday. Oil prices rose in the afternoon of Asian trading hours, with the international benchmark Brent crude futures contract up 0.78% to $64.70 per barrel. U.S. crude futures also added 0.61% to $59.54 per barrel. Spot gold dropped 0.44% to $1,468.31 per ounce. Prices hit their highest since Nov. 7 at $1,486.80 earlier in the session. U.S. gold futures settled down 0.2% at $1,472.3. Treasury yields edged lower after large surge overnight in New York.

U.S.

Judiciary Committee Democrats abruptly postpone vote on articles of impeachment (The Hill) The top Democrat on the House Judiciary Committee abruptly announced late Thursday that after more than 14 hours of debate the panel would recess and wait until Friday morning to vote on articles of impeachment against President Trump. Judiciary Chairman Jerrold Nadler (D, NY) adjourned the impeachment articles markup after 11p.m., which immediately sparked a wave of anger from Republicans who felt blind-sighted (sic) by the announcement. Rep. Doug Collins (R, GA), leaving the hearing in a huff, described this as “sneaky move on their part,” adding that Republicans would “never treat them like that.”

Conservative group hits White House with billboard ads: ‘What is Trump hiding?’ (The Hill) Conservative organization Republicans for the Rule of Law released a new digital billboard campaign Wednesday blasting President Trump and several GOP lawmakers and officials over the ongoing impeachment inquiry.

The ads show an image of President Trump behind Secretary of State Mike Pompeo, former National Security adviser John Bolton, acting White House Chief of Staff Mick Mulvaney and President Trump’s personal attorney Rudy Giuliani with tape over all of their mouths, according to copies of the billboards shared with The Hill.

Conservatives Win Commanding Majority in U.K. Vote: ‘Brexit Will Happen’ (The New York Times) Prime Minister Boris Johnson and his Conservative Party won a commanding majority in the British Parliament, a striking victory that redraws the lines in British politics and paves the way for the country’s exit from the European Union early next year.

The Conservatives were projected to win 363 seats in the House of Commons, versus 203 for the Labour Party, according to the BBC, with almost all of Parliament’s seats decided. That would give the Conservatives about a 75-seat majority, their largest since that amassed by Margaret Thatcher in 1987.

The results, with their seismic shift in the parliamentary power balance, indicated that Mr. Johnson had won his bet that by calling another general election and throwing the question of Brexit back to the British public, he could break the stalemate in Parliament and win a mandate for his policy of a swift withdrawal from the European Union.
There were, however, some red flags for Mr. Johnson, who will lead a Britain still deeply divided over Brexit. The Conservatives were tracking to win about 43 percent of the total vote.
The Scottish National Party was projected to win 49 of Scotland’s 59 seats, gaining more than a dozen seats. The party has stridently opposed Mr. Johnson’s drive for a swift Brexit, and its powerful performance could renew calls for a referendum on Scottish independence, which the prime minister opposes.

Election results 2019: Analysis in maps and charts (BBC News) Prime Minister Boris Johnson’s Conservatives have a majority of 76, with two seats left to declare. They have won seats in traditional Labour heartlands across northern England and Wales, including Workington, Great Grimsby and Bassetlaw. In Scotland, the SNP have made gains from all three other parties that held seats there in 2017, most notably taking Liberal Democrat leader Jo Swinson’s seat of Dunbartonshire East.

China

Trump Agrees to Limited Trade Deal With China (The Wall Street Journal) President Trump has agreed to a limited trade agreement with Beijing that will roll back existing tariff rates on Chinese goods and cancel new levies set to take effect Sunday as part of a deal to boost Chinese purchases of U.S. farm goods and obtain other concessions, according to people familiar with the matter.

Michael Pillsbury, an adviser to the president, said he spoke with Mr. Trump, who said the deal calls for China to buy $50 billion worth of agricultural goods in 2020, along with energy and other goods. In exchange the U.S. would reduce the tariff rate on many Chinese imports, which now ranges from 15% to 25%.

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U.S.