It
will take all Lagarde’s skills as a leader and communicator to safeguard the
institution's independence and ensure that it has the tools it needs.
The
entire German yield curve goes below zero for first time ever.
Von
der Leyen offers Rome a helping hand on migration – Politico
‘I
am aware that countries such as Italy, Spain and Greece are in a geographically
exposed situation and we must guarantee solidarity.’
EU
disunity on US’s anti-Nord Stream 2 push – Politico
‘This
is exactly what we should not do as the EU,’ says a top official.
UNITED STATES
US
labour market report
– Nordea
Employment
as expected confirms slowing of growth
The
Fed Can't Give Markets the Certainty They Desire – BB
The
status quo is likely sufficient to result in another rate cut in September, but
not sufficient for anything more.
OTHER
Central
banks should consider giving people money – FT
Expecting
the fiscal authorities to help out looks like wishful thinking
TRADE WAR
Trump
to hit $300bn in Chinese goods with 10% tariff – FT
US-China:
Trump’s tariff net expands – Pictet
Trump
pre-announced a further expansion of the US tariffs on imports from China: the
remaining half of imports not yet taxed will be at a rate of 10%. It was our
central scenario that the tariff net would be increased before the 2020
elections, but we are surprised by the timing, so close on the heels of the G20
meeting in Osaka. Such tariffs further reduce the possibility of an
encompassing trade deal with China before the US elections.
The
Trade Warring Will Continue Until Morale Improves – BB
With
the economy already wobbly, President Trump doubles down on his China conflict.
Stocks
Are Telling Trump He Made a Big Mistake – BB
The
timing of the announcement of new tariffs on Chinese goods is hard to explain
unless the Fed was a factor.
US-China
trade tensions hit global markets – FT
Stocks
suffer sell-off while bonds rally on threat of fresh tariffs on $300bn of
Chinese imports
China
vows to retaliate over Trump’s latest trade tariffs – FT
How
will China retaliate against higher tariffs? – ING
China
is facing a new round of 10% tariffs on $300 billion of goods exported to the
US to be effective on 1st September. How China retaliates will determine the
tariffs' impact on both economies
REGULARS
Five
Things to Start Your Day Asia – BB
Eco
Day Asia
– BB
Tariff
Recession Risk, Japan-Korea Tensions, U.S. Jobs * Worst may soon be over for
electronics slump that’s hit Asia * Carney won’t assume no-deal Brexit as
markets say otherwise
Five
Things to Start Your Day Europe – BB
EU
Open Rundown
– RANsquawk
FirstFT
Daily Briefing
– FT
Brussels
Playbook
– Politico
American
beef — Alert and alarmed — Playbook’s guide to Rome
Danske
Daily
– Danske
Bank
Eco
Day Europe
– BB
Bank
of England Woes, Dueling Trade Blows, U.S. Jobs * Central bankers increasingly
downbeat about rescuing economies * U.S., Japan take fresh shots in separate
global trade battles
Daily
Market Comment
– Marc
Chandler
End
of Tariff Truce Trumps Jobs
Five
Things to Start Your Day US – BB
US
Open Rundown
– RANsquawk
Eco
Day US
– BB
U.S.
Jobs Report, Trade Latest, Carney’s Brexit Warning * Investors await payroll
data after Trump’s latest tariffs * Carney sees significant chance of
inflationary no-deal Brexit
FINNISH
Aamukatsaus – Nordea
Trump asettaa
lopulle 300 miljardin osuudelle Kiinan tuonnista 10 prosentin tuontiverot ja
tulitauko kauppasodassa päättyy | USA:n teollisuus kasvoi heinäkuussa
hitaimpaan tahtiin lähes kolmeen vuoteen | Tänään julkaistaan USA:n
työmarkkinaraportti