Morning Brief – September 3rd 2020

Americas

Robinhood is under investigation related to the disclosures around its practice of selling clients’ orders to high-frequency traders.

The SEC’s probe is at an advanced stage and could result in a fine of $10 million+ if the company agrees to settle. https://t.co/dJ8psVnhXw

— CNBC Disruptors (@CNBCDisruptors) September 2, 2020

Lately, When Analysts Say Buy, It Has Paid to Do What They Say – Bloomberg
*Quant factor tied to price-target changes is outperforminghttps://t.co/PjvqUXBG20

— Christophe Barraud (@C_Barraud) September 3, 2020

The big theme of the Fed's Beige Book is uncertainty:
1. Uncertainty over course of the pandemic;
2. Uncertainty over fiscal policy;
3. Uncertainty over childcare and outlook for schools;
4. Uncertainty over skipped rents. https://t.co/SnxT1BujeW via @economics @chrisjcondon

— Steve Matthews (@SteveMatthews12) September 2, 2020

Fed's John Williams: New policy regime will help Fed achieve job, inflation goals https://t.co/FYoJtE8AOm

— Real Time Economics (@WSJecon) September 2, 2020

Fed's Daly urges more government spending to boost economy https://t.co/hz1rceE3JW pic.twitter.com/SzXrgMSI3a

— Reuters Business (@ReutersBiz) September 3, 2020

The U.S. federal budget deficit will soar to a record $3.3 trillion this fiscal year, according to the Congressional Budget Office’s latest tally https://t.co/8hWmpNjAln

— Bloomberg Markets (@markets) September 3, 2020

#WhiteHouse Poised to Set Boundaries of WeChat, TikTok Crackdown – Bloomberghttps://t.co/NofGiyvq5A

— Christophe Barraud (@C_Barraud) September 3, 2020

US puts new restrictions on Chinese diplomats – FThttps://t.co/E787Wp39WN

— Christophe Barraud (@C_Barraud) September 2, 2020

Asia

#CHINA STOCK MARGIN DEBT RISES TO 1.44T YUAN, HIGHEST SINCE 2015 – BBG

— Christophe Barraud (@C_Barraud) September 3, 2020

#China Is Said to Plan Broad Chip Sector Support to Counter Trump – Bloomberg
* A suite of measures to bolster research, education and financing for the industry has been added to a draft of the country’s 14th five-year plan. pic.twitter.com/oX7NySUMMi

— Christophe Barraud (@C_Barraud) September 3, 2020

China Foreign Ministry: President Xi Will Deliver Speech At China International Fair For Trade In Services On Sept 4

— LiveSquawk (@LiveSquawk) September 3, 2020

Warning signs are flashing for China’s banking industry, just when Beijing needs it the most https://t.co/i124c0uTBV

— Bloomberg Economics (@economics) September 3, 2020

Australia’s trade surplus narrowed in July, with overseas shipments underpinned by record gold exports, while imports jumped on increased consumer goods https://t.co/mSvCJ1SEaE

— Bloomberg Asia (@BloombergAsia) September 3, 2020

India bans another 118 mobile apps including Tencent’s PUBG app as it takes aim at China tech https://t.co/d4twXtHIbN

— Reuters China (@ReutersChina) September 2, 2020

Who is Chief Cabinet Secretary Yoshihide Suga? He is a front-runner to become Japan's next prime minister. #Suga #菅義偉https://t.co/L5usepPGEg

— Nikkei Asian Review (@NAR) September 3, 2020

Europe

European markets set to rise with economic data in focus https://t.co/4bHpfWMxR1

— CNBC (@CNBC) September 3, 2020

Fresh vaccine hopes, Brexit worries, French stimulus. Wake up to Thursday. https://t.co/464zuZCgFp

— Bloomberg Asia (@BloombergAsia) September 3, 2020

#Europe #Covid_19: Daily Summary (September 3rd)https://t.co/fFT9V3BFB2

— Christophe Barraud (@C_Barraud) September 3, 2020

#Belgium: From 04/09 at 16.00, the entire country of #Spain, except Tenerife, will be considered a red zone.
*Link: https://t.co/ioaOhknv9F pic.twitter.com/23XRSxc5jS

— Christophe Barraud (@C_Barraud) September 2, 2020

#Spain | Markit: "There were many reports that fresh outbreaks of #COVID_19, weakness in tourism numbers, and a reluctance amongst clients to commit to new business had all undermined overall sales"https://t.co/jZkgRLKn7g

— Christophe Barraud (@C_Barraud) September 3, 2020

#EUROZONE AUG FINAL SERVICES PMI: 50.5 V 50.1E (confirms 2nd month of expansion)
– Composite PMI: 51.9 v 51.6e (2nd month of expansion)
*Link: https://t.co/wCzQKVKyWf pic.twitter.com/LFTvpSvwPW

— Christophe Barraud (@C_Barraud) September 3, 2020

#France | Macron Throws 100 Billion Euros at French Economic Relaunch – Bloomberghttps://t.co/aWnedbd8Yt

— Christophe Barraud (@C_Barraud) September 3, 2020

French economic recovery plan should create 160,000 jobs: PM https://t.co/0GDbWR3b6b pic.twitter.com/xTO7X698CG

— Reuters Business (@ReutersBiz) September 3, 2020

#Germany | Merkel’s Party Backs Plan for Extra Deficit Spending Next Year – Bloomberghttps://t.co/B1DsdAen9c

— Christophe Barraud (@C_Barraud) September 3, 2020

Rising euro stokes #ECB worries over falling prices – FThttps://t.co/a48uxlF9DH

— Christophe Barraud (@C_Barraud) September 3, 2020