Trump alleges that “left-wing violence” will escalate if Democrats succeed in the upcoming elections: BBC
Trump disputes the Secretary of Defense, stating there is no need for US-South Korea military exercises: Reuters
Trump announces that Canada will reenter the US-Mexico trade agreement ahead of Friday’s deadline: CNBC
US oil sanctions are projected to plunge Iran’s economy into recession: USA Today
Researchers discover more discrepancies in China’s economic data: SCMP
US Q2 GDP growth has been slightly revised up to 4.2%: MarketWatch
Pretax corporate profits for US firms increased by 7.7% in Q2, marking the largest rise in four years: LA Times
The US Pending Home Sales Index has declined for the seventh consecutive month in July: CNBC
Democrats are projected to regain control of the House in the upcoming elections: FiveThirtyEight.com
Interactive Brokers (IB) has released the second part of a series I’m writing for the brokerage on utilizing R for portfolio analysis: Modeling Tail Risk In R With Value at Risk. This update (part two) is adapted from my latest book: Quantitative Investment Portfolio Analytics In R: An Introduction To R For Modeling Portfolio Risk and Return
Technology and consumer discretionary sectors are leading the charge in this year’s performance among US sectors, driven by a selection of exchange-traded funds (ETFs). As of yesterday’s market close on August 28, both sectors have shown remarkable results, significantly outpacing their counterparts.
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Canada resumes participation in the US-Mexico trade negotiations: Reuters
Gillum, backed by Sanders, will contend against the GOP for governor in Florida: Politico
US considers renewing military drills on the Korean Peninsula: Guardian
Russia plans to conduct its largest military drills since WWII: CBS
China’s navy is now capable of challenging the US in the Pacific: NY Times
Brazil is dispatching troops to its border with Venezuela to maintain law and order: BBC
US Consumer Confidence Index surged in August to its highest level since 2000: CNBC
The US goods trade deficit saw a significant increase in July: Reuters
Home price growth in the US continued to decelerate in June: MarketWatch
US Dollar Index fell to a four-week low on Tuesday:
The recent flattening of the yield curve has raised concerns about a potential recession; however, the short-term outlook for growth remains positive. Current projections for Q3 GDP growth, as gathered by The Capital Spectator, indicate a robust 3.3% increase. Although this represents a decline from the 4.1% growth reported in the “advance” Q2 report, the latest estimates suggest a low risk of economic contraction in the near term.
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Trump announces an agreement on a new trade deal with Mexico: Bloomberg
The US-Mexico trade agreement may complicate US-China trade negotiations: CNBC
Global stock markets reached a six-month high following the announcement of the US-Mexico trade deal: Reuters
Research from the SF Fed indicates the yield curve may be indicating an increased risk of recession: Reuters
A strong reading for US Consumer Confidence is expected for August: Econoday
Chicago Fed National Activity Index‘s three-month average has dipped, but a recession is not on the horizon:
Almost every segment of global markets experienced gains last week, creating a favorable environment for major asset classes, as indicated by a variety of exchange-traded products. Aside from US real estate investment trusts (REITs), prices were driven upwards across the board.
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North Korea criticizes the US following the cancellation of a trip to Pyongyang: Reuters
The US-China trade war appears poised to escalate: Bloomberg
The trade conflict is likely to impact China’s debt-to-GDP ratio more significantly: Bloomberg
Fed Chairman Powell remains committed to gradual interest rate increases: CBS
US stocks, represented by the S&P 500 and Nasdaq, closed at all-time highs on Friday: MW
The yield spread between US 10-year and 2-year notes dropped to 19 basis points, marking yet another 11-year low: FX Street
Leading firms may be the reason behind slow wage growth and diminished investment spending: NY Times
Germany is reconsidering investments from China: SCMP
Headline durable goods orders in the US declined in July even as business investment surged:
Senator John McCain, a esteemed Vietnam War veteran, former Republican presidential candidate, and influential leader in Congress, passed away on August 25. As noted by Politico, “McCain’s life resembled a Hollywood film—he was a naval officer, a fighter pilot, a war hero, and a politician. Ultimately, however, he was denied his greatest ambition: to serve as President of the United States.”
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Q&A with the author via Slate
In his latest book, Hyman investigates the factors contributing to the temporary nature of much of the American workforce. He moves away from blaming companies like Uber for the lack of benefits and protections, and instead examines how the corporate landscape has evolved since the 1950s and 1960s. Hyman argues that while the postwar era provided certain employee protections, these have become increasingly scarce today. He raises the question of whether it is feasible to balance the flexibility sought by workers with the need to protect them from exploitation by their employers.
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