Daily Archives: August 13, 2020

Americas

U.S. Daily Coronavirus Case Count Drops to Lowest Level Since Early August – WSJhttps://t.co/BCbAsegIsr

— Macro Brief (@macroandfinance) August 13, 2020

No sign of a stimulus deal in sight as Mnuchin, Pelosi phone call yields no progress – CNBChttps://t.co/VwAmSLoemt

— Christophe Barraud (@C_Barraud) August 13, 2020

Mnuchin renews a push for a more limited pandemic relief package of “a little more than” $1 trillion https://t.co/b5zcGEdMw6

— Bloomberg Economics (@economics) August 12, 2020

#Trump plans to terminate payroll tax but will protect Social Security – Fox Businesshttps://t.co/RPN9pw24im

— Christophe Barraud (@C_Barraud) August 13, 2020

Mnuchin and Kudlow say a congressional vote is needed to cut the capital gains tax https://t.co/B47FgM0fap

— Bloomberg Economics (@economics) August 12, 2020

#Fed Officials Warn Pandemic Response Is Hobbling Economic Rebound – WSJhttps://t.co/4yu7LbjMB5

— Macro Brief (@macroandfinance) August 13, 2020

Fed's Daly says loss of enhanced unemployment benefits creates a 'hole' in spending https://t.co/bMI6S8Renq pic.twitter.com/Fq65rz44eV

— Reuters Business (@ReutersBiz) August 13, 2020

US sends stealth bombers to counter Chinese threat – Timeshttps://t.co/XTMdV55az5

— Christophe Barraud (@C_Barraud) August 13, 2020

Asia

#China’s Bond Data Hint Central Bank Is Buying Government Debt – Bloomberg
*Link: https://t.co/sMoucK6caj pic.twitter.com/fn5J4kR3Fu

— Christophe Barraud (@C_Barraud) August 13, 2020

Chinese tech companies topple Japan, chase US in market share – Nikkeihttps://t.co/81879Lqfg0

— Christophe Barraud (@C_Barraud) August 13, 2020

#China’s Xi Speeds Up Inward Economic Shift – WSJhttps://t.co/WgwMgiUv0K

— Christophe Barraud (@C_Barraud) August 13, 2020

#Taiwan to boost defence spending 10% in face of #China pressure – Reutershttps://t.co/rd2PjT7YWL

— Christophe Barraud (@C_Barraud) August 13, 2020

China says frozen chicken wings from Brazil test positive for coronavirus https://t.co/uqyrErkgIm

— Bloomberg Economics (@economics) August 13, 2020

#China Recovered #COVID_19 patient tests positive again in #Hubei – Xinhua
*Link: https://t.co/0zhzlKBcX1 pic.twitter.com/IRV7SrHvUO

— Christophe Barraud (@C_Barraud) August 13, 2020

Two Chinese Patients Test Positive Months After Virus Recovery – Bloomberghttps://t.co/ugDOLZClMn

— Christophe Barraud (@C_Barraud) August 13, 2020

#NewZealand to Quarantine Virus Cases as Auckland Cluster Grows – Bloomberg https://t.co/RF0QWRQOgh

— Macro Brief (@macroandfinance) August 13, 2020

India's coronavirus cases jump by 67,000, setting daily record https://t.co/UAKMQhZ6HW

— Reuters India (@ReutersIndia) August 13, 2020

Australia on course for lowest one-day rise in COVID-19 cases in more than three weeks https://t.co/kNvBMmTf6a pic.twitter.com/3pGTEQzQqU

— Reuters UK (@ReutersUK) August 13, 2020

Australian employers added almost four times as many jobs as forecast in July https://t.co/QFY91c4toN

— Bloomberg Economics (@economics) August 13, 2020

Europe

Up to 6% of England's population may have had Covid, study suggests https://t.co/PsftN52B2b

— The Guardian (@guardian) August 13, 2020

The U.S. stepped up pressure on Germany and France with extra tariffs on some of their goods, a move designed to squeeze the European Union into settling a long-running dispute over illegal subsides to Airbus https://t.co/C8uD4D475s

— Bloomberg Economics (@economics) August 13, 2020

Airbus expects EU to respond to U.S. tariffs in aircraft subsidy dispute – Reutershttps://t.co/1wl5vvybeq

— Christophe Barraud (@C_Barraud) August 13, 2020

German companies see business returning to normal in 11 months: Ifo https://t.co/TNmnAS2EOy pic.twitter.com/4DzIRxnxz4

— Reuters Business (@ReutersBiz) August 13, 2020

#Russia Ditches the #Dollar for Bulk of Its Exports to #China – Bloomberg
*Putin has strategy to “de-dollarize” the Russian economy.
*Link: https://t.co/TohMghHCxQ pic.twitter.com/DB2Ym9TYkk

— Christophe Barraud (@C_Barraud) August 13, 2020

Belarusian President Alexander Lukashenko's interior ministry announced Wednesday that police had arrested over 6,000 people and fired live rounds at protesters — Brussels Playbook has the details: https://t.co/AQotBcApsI pic.twitter.com/ERCgBUZ4Wy

— POLITICOEurope (@POLITICOEurope) August 13, 2020

#China’s stock market rally has lured people to invest more in wealth management and other financial products, leading to the increase in deposits at non-bank financial firms (fastest pace since 2015), according to CICC economists led by Liu Liu – Bloomberg pic.twitter.com/j04Vw4nX9I

— Christophe Barraud (@C_Barraud) August 13, 2020

Retail trading going global, via Credit Suisse: pic.twitter.com/l1U2CN12oO

— Tracy Alloway (@tracyalloway) August 13, 2020

#EU to become one of the largest issuing entities in Eurozone w/issuance for the SURE scheme and the EU Recovery Fund (RF) likely totalling near €850bn in coming years, Goldman has calculated. This suggests that EU
will be issuing at roughly €15-20bn/mth over the coming 5yrs. pic.twitter.com/Rz4CtmVN3L

— Holger Zschaepitz (@Schuldensuehner) August 13, 2020

On Stock Valuations:

This is my favorite metric, published by Value Line for nearly 50 years.

Since the March low, the Median Stock P/E has *doubled* – to a new record high.

Not a timing tool but historically, a LOT had to go right at these levels – mostly, things went wrong. pic.twitter.com/XWO1Kr9Wgr

— Macro Charts (@MacroCharts) August 13, 2020

Here is an extremely important chart:

Dumb Money Confidence (sentiment) is at the highest level since late-January 2020, 1 month before stocks peaked and crashed.

What's easy (chasing the hottest trend) is not usually what's profitable pic.twitter.com/gVVnqopSzE

— SentimenTrader (@sentimentrader) August 13, 2020