October, 2019

• 20 October

  Japan’s fiscal stimulus options if needed: Aso

  

  Bloomberg Japan has various ways to deploy fiscal stimulus if economic conditions warrant such action, according to Finance Minister Taro Aso. The nation’s economic fundamentals remain stable for now, but the government continues to use fiscal stimulus in a nimble manner, Aso said at a press conference in Washington, where the Group of 20 nations’ finance ministers and central bank …

  Read More »
• 20 October

  Dollar’s longest slump since January may deepen: Scotiabank

  

  Bloomberg The dollar’s three-week slump may turn into further weakness through early next year, as potential progress on US-China trade talks and Brexit along with softer domestic economic data undermine the currency’s haven status, said Scotiabank’s Shaun Osborne. The Bloomberg Dollar Spot Index is down about 2% from a two-year high on October 01, amid its longest weekly losing streak …

  Read More »
• 20 October

  PBOC governor says yuan level ‘appropriate’ after weakening

  

  Bloomberg People’s Bank of China (PBOC) Governor Yi Gang said the yuan is at an “appropriate level” and cross-border capital flows have stayed balanced since the currency weakened past 7 per dollar in early August. “Depreciation since the beginning of August has been driven and determined by market forces and reflects shifts in market dynamics,” and the currency has been …

  Read More »
• 20 October

  Mongolia now on anti-money laundering watchlist

  Bloomberg Mongolia has been included on a list of countries monitored by an international agency that polices anti-money laundering activities and terrorism financing. Joining Mongolia as additions on the Financial Action Task Force’s watch list were Iceland and Zimbabwe, according to a FATF statement released by email from Paris. “Each jurisdiction has developed an action plan with the FATF to …

  Read More »
• 20 October

  Central bank digital currency worth a thought: Ramsden

  

  Bloomberg Developing some form of synthetic central bank digital currency is “worth looking at,” according to Bank of England (BOE) deputy governor Dave Ramsden. The UK central bank is “very focussed” on what should be done to provide public infrastructure to encourage private innovation, said Ramsden, who oversees payments and fintech. Creating a digital currency with other central banks is …

  Read More »
• 20 October

  Stock Vs. bond showdown tests history, trader nerves

  

  Bloomberg When it comes to mixed messages from markets, 2019 has been a year with few precedents. Whenever a believable signal starts to emerge from stocks or bonds about the economy, it changes. While some disagreement is normal, this is approaching the historic. For context, in a typical year, returns in either equities or Treasuries lead the other by 10 …

  Read More »
• 20 October

  Libra is ‘neat idea that’ll never happen’: Dimon

  

  Bloomberg Count the chief of the biggest US bank among doubters of Facebook Inc’s effort to create a cryptocurrency. “It was a neat idea that’ll never happen,” JPMorgan Chase & Co CEO Jamie Dimon said on a panel at a conference hosted by the Institute of International Finance in Washington. Dimon said the idea wasn’t particularly unique and pointed to …

  Read More »
• 20 October

  UK’s domestic stock ETF most popular in 9 months

  Bloomberg Conflicting Brexit headlines keep coming and Boris Johnson’s ability to pull off a deal remains in doubt. But this isn’t stopping stock investors from taking a bet on the UK economy. The Vanguard FTSE 250 UCITS exchange-traded fund, which tracks the index of mid-cap companies that are more sensitive to domestic growth and benefit when sterling is stronger, has …

  Read More »
• 20 October

  Oil tanker rates surge to new records amid geopolitical risks

  

  Bloomberg Nothing right now is stopping a surge in oil tanker rates that’s given owners of the vessels one of the biggest boosts in years. Rates have rallied so high that a secondhand supertanker could theoretically pay for itself in a couple of voyages, according to estimates from Clarkson Platou Securities AS. A normal payback period would often be about …

  Read More »
• 20 October

  S Africa’s Eskom ends ‘controlled blackouts’

  

  Bloomberg South Africa’s debt-laden power utility ended controlled blackouts as power supplies improve, though it says shortages gripping Africa’s most industrialised economy may not be over yet. Eskom Holdings SOC Ltd., which provides about 95% of South Africa’s electricity, said it wouldn’t be implementing load shedding, a local term for rolling power blackouts, on Sunday. That comes after almost a …

  Read More »