E-mini futures are fractionally lower this morning (0.08%) after Apple's surge helped the DJIA climb above 22,000 for the first time on Wednesday; Global shares declined for the first time in 4 days pressured by tech stocks: Asian shares fell, while Europe pared opening losses to trade unchanged.
Submitted by Rajan Dhall from fxdaily.co.uk
All eyes are now on the midday announcement from the BoE, where a 25bp rate rise is only expected by a very few, but more anticipating signals that a move is forthcoming later this year.
The vote split will tell is whether Haldane - or anyone else - has moved to the hawkish camp, but with Forbes having left the commitee, a 6-2 split is also likely. Comments from Messrs McCafferty and Saunders suggest there is little or no chance that they have changed their stance from the previous meeting.
The small of trade war between China and the US is becoming ever more rancid.
In the latest development, this morning we reported that the Trump administration is planning a probe of what the U.S. sees as violations of intellectual property by China. Against a backdrop of Trump’s frustrations with domestic policy, sliding approval ratings and disagreement with China over North Korea, the chances of protectionist action are rising according to Bloomberg while CNBC adds that the official start date of the trade war will be this Friday.
We've frequently argued that public pension funds in the U.S. are nothing more than thinly-veiled ponzi schemes with their ridiculously high return assumptions specifically intended to artificially minimize the present value of future retiree payment obligations and thus also minimize required annual contributions from taxpayers...all while actual, if immediately intangible, underfunded liabilities continue to surge.
Documents released yesterday in a lawsuit against Monsanto have resulted in new questions about the company’s efforts to influence the news media and scientific research and revealed internal debate over the safety of its highest-profile product, the weed killer Roundup.
As the New York Times notes today, new internal emails, among other things, reveal ethical objections from former employees to "ghost writing" research studies that were pawned off as 'independent' analyses.