• Here's our wrap of what's coming up in the global economy this week Link
    Bloomberg 2m

    With the Federal Reserve’s recent signal that U.S. interest rates should be kept low for at least three years, officials meeting from Sweden to New Zealand have one more assumption on which to base their decision-making, beyond the knowledge that the coronavirus remains untamed.

  • The latest from the Emmy Awards: -'Watchmen' takes best limited series Emmy crown -Jeremy Strong wins best actor in a drama series for 'Succession' -'RuPaul’s Drag Race' gets the Emmy Award for top reality-competition show Link via @AP
    Bloomberg 2m

    Cox and Strong were considered favorites for the Emmy, but some thought they might split the vote and neither would win.

    It’s the first Emmy and first nomination in a 12-year career for the 41-year-old Bostonian actor Strong.

    He also beat out fellow nominees Billy Porter, Jason Bateman, Sterling K. Brown and Steve Carell.

  • This year's business school ranking isn't a ranking. Bloomberg Businessweek analyzed the best business schools and MBA programs and measured their virtual offerings in the coronavirus pandemic. Here's what we found Link
    Businessweek 2m

    Covid-19 has turned business school programs upside down. The persistence of the virus, social-distancing requirements, and travel restrictions keep many campuses shuttered or barely open. Remote learning robs students of valuable networking opportunities. Professors and students try hard to adapt. Schools struggle to meet their costs and justify their tuition.

    How do we rank B-Schools in such an environment? We don't.

    Instead we focus on getting the B-School community back on its feet. We ask: What's working, what's not, and how would you like B-School education to change now and when it emerges from a global pandemic. To find answers, we surveyed 3,532 MBA students from 95 schools around the world.

    The results surprised us. Despite the uproar when schools shifted to online teaching, half the students would be willing to take a portion of their courses online in exchange for tuition cuts. Professors actually received high marks for their...

  • Data out this week is likely to underscore an emerging theme of the coronavirus recovery: The economy is getting better, but the pace of improvement is slowing Link
    Real Time Economics 2m

    Data out this week is likely to underscore an emerging theme of the coronavirus recovery: The economy is getting better, but the pace of improvement is slowing and the longer-term outlook remains uncertain.

    Tuesday

    The U.S. housing market has been a bright spot this summer, with July existing-home sales surging to the highest level since the waning days of the housing bubble in 2006. Figures for August are expected to show another gain—though smaller than June or July’s—as Americans take advantage of low mortgage rates while continuing to seek out more living space.

    Wednesday

    Surveys of purchasing managers in the U.S., Europe and Japan are expected to show that the pace of the economic recovery steadied in September, after strong rebounds in previous months.

  • China keeps lending benchmark LPR steady for fifth straight month Link https://t.co/nP4RDkFHip
    Reuters 2m

    SHANGHAI (Reuters) - China kept its benchmark lending rate for corporate and household loans steady for the fifth straight month at its September fixing on Monday, as expected.

    The one-year loan prime rate (LPR) CNYLPR1Y=CFXS was kept unchanged at 3.85%, while the five-year LPR CNYLPR5Y=CFXS remained at 4.65%.

    Most new and outstanding loans are based on the LPR, while the five-year rate influences the pricing of mortgages.

  • AUD/JPY recovers to 50-day SMA hurdle as Asian stocks trade in the red By @godbole17 Link #AUDJPY #Currencies #Majors #Asia #Equities
    FXStreet News 7m
    AUD/JPY is probing the 50-day SMA hurdle, having hit three-week lows on Friday.  The Asian stocks trade in the red on fears of fresh coronavirus lockdown restrictions.  Risk aversion favors a deeper drop in the AUD/JPY pair. 
  • New Zealand to ease coronavirus restrictions in Auckland, rest of country Link https://t.co/KK5kw2pK2t
    Reuters 7m

    WELLINGTON (Reuters) - New Zealand Prime Minister Jacinda Ardern said the coronavirus restrictions in its biggest city Auckland will be eased, while all restrictions will be lifted in the rest of the country.

    Auckland will move to alert level 2 from Thursday, Ardern said at a news conference on Monday, which will limit gatherings to 100 people.

    The rest of the country will move to level 1 from midnight on Monday, she said.

  • Value shares to fare better on a Covid-19 vaccine vs. cyclical stocks – Goldman Sachs Link #Equities #Coronavirus
    FXStreet News 12m

    In their latest client note, Goldman strategists led by David Kostin noted that value shares will be more favored than cyclical stocks on a COVID-19 vaccine than cyclical stocks, per Bloomberg.

  • Social media rumours that Saudi Arabia King Salman is in critical condition Link
    ForexLive 12m
  • Rulings by Supreme Court contender Lagoa show right-leaning views Link https://t.co/YGvBtJSeRD
    Reuters 12m

    (Reuters) - Barbara Lagoa, a frontrunner for the open Supreme Court seat that President Donald Trump is pushing to fill, has made her conservative views known in business cases and disputes over the limits of executive power.

    While Lagoa has only been on the federal bench since 2019, earlier this month she took part in a major case limiting voting by ex-felons.

    Here are some of Lagoa’s most notable rulings:

  • RT @AliAlAhmed_en: Breaking: I am receiving reports that #Saudi @KingSalman is in critical condition. The 85 year old despot was a life-lo…
    zerohedge 12m
  • Donald Trump will allow ByteDance to keep a big stake in its video-app unit while Oracle and Walmart will be new U.S. investors. It comes with political baggage because it falls short of the full sale ordered by the president, writes @GinaChon Link https://t.co/ESUhPeQyOH
    ReutersBreakingviews 17m

    Donald Trump will allow ByteDance to keep a big stake in its video-app unit while Oracle and Walmart will be new U.S. investors. It comes with political baggage because it falls short of the full sale ordered by the president. D.C. will continue to be a thorn in TikTok’s side.

  • #Coronavirus latest: -Global cases top 30.8 million, with deaths exceeding 958,400 -U.S. is nearing 200,000 Covid-19 fatalities -South Korea adds 70 more cases in 24 hours -China finds virus in Russian frozen squid packaging Bloomberg 17m

    U.S. deaths related to Covid-19 approached 200,000 and the nation’s new cases rose in line with a one-week average. Former FDA Commissioner Scott Gottlieb said he expects the U.S. to experience “at least one more cycle” of the virus in the fall and winter.

  • No signs of ‘V’-shaped recovery in British manufacturing sector – Make UK/ BDO survey Link #Manufacturing #UnitedKingdom #SentimentPoll #GBPUSD
    FXStreet News 17m

    According to the latest survey conducted by the Make UK industry association and accountants BDO, Britain’s manufacturers remain little optimistic on the recovery from coronavirus pandemic induced manufacturing recession, with no evidence of a ‘V-shaped’ recovery.

  • Stephen Cohen Is Dead: Never Forget His Urgent Warnings Against The New Cold War Link
    zerohedge 17m
  • China announces plans for three new pilot free trade zones Link https://t.co/dXjsT6Y9F0
    Reuters 17m

    BEIJING (Reuters) - China’s cabinet on Monday announced plans for three new pilot free trade zones (FTZs), in the capital of Beijing, the southern province of Hunan and the eastern province of Anhui.

    An existing FTZ in the wealthy eastern province of Zhejiang will also be expanded, according to the notice from China’s State Council.

    China has set up the zones in many provinces across the country in recent years in efforts to attract foreign investment, stimulate trade, and boost regional development.

  • Mark Ruffalo wins the Emmy Award for best actor in a limited series or TV movie for 'I Know This Much Is True.' It’s the first acting Emmy for Ruffalo, who plays the Incredible Hulk in Marvel’s 'Avengers' films. Latest from the Emmy Awards Bloomberg 22m

    Star Regina King won best actress, her co-star Yahya Abdul-Mateen II won best supporting actor and the show’s creator Damon Lindelof won for writing.

    The HBO series rebooted and reinvented the acclaimed 1980s graphic novel by Alan Moore about superheroes and vigilantes in an alternate-history dystopia.

    It beat out fellow nominees “Little Fires Everywhere,” “Mrs. America,” “Unbelievable” and “Unorthodox.”

  • Once hailed as ‘America’s richest man,’ he’s now raising cash by selling his private jet, 257-foot yacht and loads of art MarketWatch 22m
  • Goldman Sachs tips value shares as better bet on a Covid-19 vaccine than cyclicals Link
    ForexLive 22m
    "The consensus view of investors is cyclicals will outperform when a vaccine is identified," the strategists wrote. "However, the correlation of returns with the prospects for a vaccine suggest value rather than cyclicals is the better tactical expression of this view."
  • UK manufacturers see little sign of 'V'-shaped recovery Link https://t.co/RQaqu76XPT
    Reuters 22m

    LONDON (Reuters) - British manufacturers see no evidence of a ‘V’-shaped recovery from the coronavirus pandemic underway and many are planning to slash investment, a business survey showed on Monday.

    The Make UK industry association and accountants BDO said output and orders had improved from historic lows struck last quarter during the depths of the pandemic.

    But the survey’s quarterly gauge of investment intentions fell to -32% from -26%, almost touching depths last seen in the financial crisis.

  • When the price of financial assets changes suddenly or by a large amount, the value of a financial portfolio is harder to establish. The new Page One Economics discusses data used to evaluate financial market stress related to price volatility Link
    St. Louis Fed 27m

    "In order to effectively monitor market developments and systemic risks, it is crucial that regulators across jurisdictions and countries share data on a consistent and regular basis." —Janet L. Yellen1

    Description

    FRED® (Federal Reserve Economic Data) provides access to a wide range of time-series data. Several of those series signal stress levels in financial markets and the probability of economic recession. This article describes indexes of financial and economic recession risk to new data users and can serve as a reference to advanced data users. 

    Introduction

    The data on economic and financial conditions accessible through FRED® come from many sources, for example, federal government departments such as the U.S. Treasury and private corporations such as Moody's Investors Service. FRED® presents the data produced by organizations and individuals "as is"—that is, exactly as provided by the source. The Federal Reserve...

  • Goldman says value, not cyclicals, would rally most on vaccine Link
    Bloomberg Markets 27m

    Value shares are a better way to bet on a Covid-19 vaccine than cyclical stocks, even though the latter have gained favor for capturing the trade, according to Goldman Sachs Group Inc.

  • AUD/USD Price Analysis: Keeps pullback from 10/21-day SMA confluence Link #AUDUSD #Technical Analysis #SwingTrading #ChartPatterns #Majors
    FXStreet News 27m
    AUD/USD defies Friday’s halt to five-day winning streak while refreshing the intraday high. Bearish MACD fails to disappoint buyers cheering a sustained move beyond short-term SMAs. Monthly resistance line on bulls’ radars, sellers can aim for the key Fibonacci retracements before the monthly low.
  • Democrat Biden and his allies had $466 million at end of August: official Link https://t.co/Z1mVA5YLHV
    Reuters 27m

    WASHINGTON/NEW YORK (Reuters) - Democratic U.S. presidential nominee Joe Biden and his party allies increased their cash holdings to $466 million at the end of August, a campaign official said on Sunday, as President Donald Trump’s campaign reported that its cash pile was little changed from a month earlier.

    The figures reported by each side suggests that Biden, a former vice president who is leading Trump in most opinion polls, could have a financial advantage over Trump as the two sides prepare for the Nov. 3 presidential election.

  • NZIER’s Shadow Board continue to favor QE over negative OCR Link #RBNZ #CentralBanks #InterestRate
    FXStreet News 32m

    Heading into the Reserve Bank of New Zealand (RBNZ) monetary policy decision due to be announced this Wednesday, the New Zealand Institute of Economic Research (NZIER) Monetary Policy Shadow Board continues to favor the expansion of the quantitative easing (QE) program to adopting negative interest rates for additional stimulus.

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