China plans to seek WTO sanctions against the US amid ongoing trade disputes: Reuters
Former PBOC governor states that US tariffs are uniting Russia and China: CNBC
The US Southeast is preparing for Hurricane Florence: CNN
Trump advisor warns Syria of repercussions if chemical weapons are used: Time
Global hunger is on the rise as climate change restricts food access: Bloomberg
North Korea’s Kim requests a second summit with Trump: BBC
Many Americans continue to struggle a decade after the financial crisis: LA Times
Are junk bonds being considered a new safe haven for investors? MarketWatch
US consumer credit increased at an annual rate of 5.1% in July: MarketWatch
All major global market categories experienced selling pressure last week, as indicated by various exchange-traded products. The most pronounced decline was noted in emerging market stocks.
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Russian and Syrian jet fighters have resumed air strikes in Idlib: Reuters
Hurricane Florence poses a severe threat to the Southeast and Mid-Atlantic regions of the US East Coast: WaPo
China is cautiously observing a slight uptick in inflation: NY Times
The trade war is increasing global demand for China’s currency: SCMP
Sweden’s far-right, anti-immigrant party is now the third-largest political group: Fox
The Fed’s Rosengren forecasts two additional interest rate hikes in 2018: Bloomberg
US wage growth is gaining momentum: USA Today
Shifts in credit supply significantly influence economic cycles: Barron’s
There is still a strong case for optimism regarding the economy and the stock market: Scott Grannis
By Benjamin Shobert
Excerpt via International Policy Digest
The rhetoric surrounding China from Donald Trump suggests a desire among Americans for China to remain poor and isolated. While DC elites saw this as mere noise during the last election, many disenfranchised Americans found solace in blaming China for economic hardships. As the US economy struggled to create wins beyond the wealthy, politicians began to point fingers at China as the scapegoat. This leads to an essential inquiry: is the frustration with China simply a distraction from deeper insecurities about our economy, global standing, and domestic issues?
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US private payrolls increased by a seasonally adjusted 204,000 in August, significantly surpassing the revised 153,000 growth from the previous month, according to the Labor Department reports. Meanwhile, the year-over-year trend remains steady at 1.9% for the sixth consecutive month. These figures confirm that the labor market continues to grow at a robust pace, indicating that the ongoing nine-year economic expansion is likely safe, allowing for further monetary policy tightening.
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Data on inflation indicates a modest upward trend, supporting the Federal Reserve’s gradual approach to increasing interest rates. However, this narrative faces challenges from the Treasury market.
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US payrolls are anticipated to rise in today’s Labor Department report: MarketWatch
Global production dipped to a five-month low in August: IHS Markit
The ISM Non-Manufacturing Index for the US indicates stronger growth in August: CNBC
Growth in the US services sector eased to its lowest level in four months in August: IHS Markit
Jobless claims fell last week, nearing a 49-year low: Reuters
Job cuts in August were the third highest this year: Challenger, Gray & Christmas
US productivity rose at a consistent 2.9% annualized rate in Q2: Reuters
Growth in private employment in the US eased to a ten-month low in August: ADP
Bloomberg reported that “investors invested nearly $1 billion into Fidelity Investments’ two zero-fee index funds within their first month.” This launch appears beneficial for both Fidelity and investors. While the long-term effects on the financial industry remain to be seen, early indications suggest the freemium model may have a lasting presence in asset management. For further context, check out a piece I recently authored for RIABiz.com, published a few days ago here.
Year-to-date performance for US equity investing is predominantly led by small-cap and growth sectors, as reflected in various exchange-traded funds (ETFs). Conversely, large-cap value stocks are currently experiencing the weakest gains in 2018 among the primary equity categories.
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The article provides a comprehensive overview of significant global and economic developments, reflecting ongoing trends and potential impacts on various sectors. It highlights key news and analytical insights, offering a multifaceted view that encourages readers to stay informed on global affairs and their implications.
