Morning Brief – September 10th 2020
Americas
Wall Street's main indexes closed sharply higher led by a rebound in heavily weighted technology-related stocks, snapping a three-session streak of losses. Read more https://t.co/LiIWbO9L2V pic.twitter.com/vCQN89TLSD
— Reuters Business (@ReutersBiz) September 10, 2020
Senate Republicans were confident that most GOP colleagues would vote to support a narrower coronavirus aid package, a move aimed to highlight party unity as lawmakers grew increasingly pessimistic about any deal with Democrats before the election https://t.co/SXEsVtIXQj
— The Wall Street Journal (@WSJ) September 10, 2020
Top White House officials studying potential set of executive actions 2.0, if talks w/ Congress collapse again
On table:
— Aid for airlines
— $ for school vouchers
— $ to replenish unemployment program
— Something on payroll taxes (details unclear)https://t.co/tthCT6s3bz— Jeff Stein (@JStein_WaPo) September 9, 2020
Democratic presidential nominee Joe Biden proposes tax penalties on companies that move operations overseas and a credit for creating U.S. jobs https://t.co/HxVSUtV1RB
— Bloomberg Economics (@economics) September 9, 2020
CNBC/Change poll
Arizona: Biden 49%, Trump 45%
Florida: Biden 49%, Trump 46%
Michigan: Biden 49%, Trump 43%
North Carolina: Biden 49%, Trump 47%
Pennsylvania: Biden 50%, Trump 46%
Wisconsin: Biden 50%, Trump 44% https://t.co/3xQOPx1CdX
— Bill Scher (@billscher) September 9, 2020
U.S. has canceled more than 1,000 visas for Chinese nationals deemed security risks – Reutershttps://t.co/ldt5bogLcu
— Christophe Barraud (@C_Barraud) September 10, 2020
Pelosi says the UK can forget a U.S. trade deal if Northern Ireland pact is broken https://t.co/ZlQVzmu8o4
— Bloomberg Economics (@economics) September 9, 2020
Asia
-Japan, China stocks ⬆️
-Indonesia’s Jakarta Composite Index fell 5% after officials said Jakarta will bring back social distancing measures
-U.S. futures ⬇️
-European futures ⬇️
-Oil ⬇️ to $37.79https://t.co/HZs2TuIt11— Bloomberg Asia (@BloombergAsia) September 10, 2020
Coronavirus latest: India logs new daily high of 95,735 cases. Get the latest free-to-read coronavirus updates here:https://t.co/lq88Ckr6vn
— Nikkei Asian Review (@NAR) September 10, 2020
Indonesian Stocks Fall 4% as #Jakarta Restrictions Return – Bloomberghttps://t.co/eXjfBLbe4U
— Christophe Barraud (@C_Barraud) September 10, 2020
China signals shift to stronger yuan exchange rate policy to help develop domestic demand, analysts say #China #china #yuan https://t.co/zjE2s8J2Hd pic.twitter.com/q2p1izvb9O
— SCMP Economy (@scmpeconomy) September 10, 2020
#China chipmakers speed up effort to cut reliance on US supplies – Nikkeihttps://t.co/3s5TiexI3J
— Christophe Barraud (@C_Barraud) September 9, 2020
Japan, South Korea and Taiwan face a hefty price — $26 billion — for Trump's Huawei ban.#huawei https://t.co/SgfPP75EnQ
— Nikkei Asian Review (@NAR) September 9, 2020
#Japan may have snap general election in Oct.: defense chief Konohttps://t.co/WiRpRijzUn
— Kyodo News | Japan (@kyodo_english) September 9, 2020
Ahead of the ruling Liberal Democratic Party's presidential election, Japan's main opposition party names a new leader.https://t.co/Gor9t6Q29B
— Nikkei Asian Review (@NAR) September 10, 2020
Europe
-ECB confronts weak economy, stronger euro as officials meet
-EU considers legal action over UK plan to breach Brexit deal
-1 in 5 UK firms can barely cover debt-interest payments
Here's a rundown of your top economic news today https://t.co/JvNox6xdss— Bloomberg Economics (@economics) September 10, 2020
#Europe #Covid_19: Daily Summary (September 10th)
*Focus on #Germany, #Spain, #France and #Italy https://t.co/pPMZFRkqfp
— Christophe Barraud (@C_Barraud) September 10, 2020
Europe’s sputtering recovery could falter if another hit comes https://t.co/DOir5U4N0P
— Bloomberg Economics (@economics) September 10, 2020
It's ECB rate decision day – here's what to expect https://t.co/F6E3tmhjJN
— Bloomberg Economics (@economics) September 10, 2020
All eyes are on ECB's Lagarde as she decides whether the euro has gotten too strong https://t.co/kSkJ5v3ExZ
— Bloomberg Economics (@economics) September 10, 2020
Possible menu for today's meeting:
– mention of FX
– hint at faster PEPP purchases
– mention of rate cut as one instrument, markets have understood our reaction function
– tasking the committees https://t.co/uTDInohnZ4— Frederik Ducrozet (@fwred) September 10, 2020
This chart highlights what’s at stake at today‘s #ECB meeting. Will rate expectations bounce back to pre-Lane levels or does Lagarde manage to strike an optimistic tone but at the same time keep hopes of interest rate cuts alive and thus keep the euro in check? pic.twitter.com/nGleWtSLS2
— Holger Zschaepitz (@Schuldensuehner) September 10, 2020
#ECB Forecasts Said to Show More Confidence in Economic Outlook – Bloomberghttps://t.co/eq4ZO3qh9X
— Christophe Barraud (@C_Barraud) September 9, 2020
Very concerned about announcements from the British government on its intentions to breach the Withdrawal Agreement. This would break international law and undermines trust. Pacta sunt servanda = the foundation of prosperous future relations.
— Ursula von der Leyen (@vonderleyen) September 9, 2020
EU Considers Legal Action Over U.K. Plan to Breach #Brexit Deal – Bloomberghttps://t.co/L83dxXghz6
— Christophe Barraud (@C_Barraud) September 10, 2020
U.K. manufacturers renewed their call for an exit deal with the European Union https://t.co/bc8AATd4bM
— Bloomberg Economics (@economics) September 10, 2020
#France Wants EU Proposal on Digital Taxation Early Next Year – Bloomberghttps://t.co/PgugQmMgRf
— Christophe Barraud (@C_Barraud) September 10, 2020