August, 2019

• 19 August

  Stocks climb globally with dollar; Treasuries decline

  

  Bloomberg US equity futures rose alongside stocks in Europe and Asia as traders parsed the latest trade news from Washington and awaited commentary from the Federal Reserve chief. Treasuries fell with European government bonds. The three main US equity-index contracts advanced with the Stoxx Europe 600, which extended its gains to a session high as Bloomberg reported Germany is preparing ...

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• 19 August

  Rebound in China, HK stocks accelerates on policy support

  

  Bloomberg The recovery in mainland China and Hong Kong stocks gathered pace on Monday, helped by Beijing’s plan to reform its interest rate system and lower borrowing costs. The Shanghai Composite Index jumped 2.1 percent and the ChiNext gauge closed up 3.5 percent, the biggest gains for both since July. The Hang Seng Index rose 2.2 percent, the most in ...

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• 19 August

  JPMorgan plans call with clients on market volatility

  

  Bloomberg JPMorgan Chase & Co. plans to host a conference call on Tuesday to help clients make sense of markets after a week of wild swings for stocks and bonds. “In the wake of a rather violent decline in yields, inversion of the curve, and volatility in equity markets, we consider the role of poor liquidity and systematic flows in ...

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• 19 August

  Euro-area inflation raising stimulus pressure on ECB

  

  Bloomberg Euro-area inflation was weaker than initially reported in July, raising pressure on European Central Bank (ECB) policy makers to consider more stimulus in September. Eurostat revised its July estimate for consumer price growth to 1%, down from a reading of 1.1% reported on July 31. It’s the second consecutive revision to inflation data. The report adds to negative data ...

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• 19 August

  India’s central bank head says reviving growth a top priority

  

  Bloomberg India’s central bank Governor Shaktikanta Das said reviving economic growth remains his top priority and urged bankers to pass on past interest rate cuts to borrowers at a faster pace. The six-member monetary policy committee is giving growth the “highest priority,” Das said at a banking conference on Monday in Mumbai. Policy makers, financial sector representatives and bankers were ...

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• 19 August

  SBI sees credit growth to slow this fiscal year

  Bloomberg State Bank of India (SBI), the country’s largest lender, expects credit growth to slow in the financial year started April 1 because demand remains subdued, Chairman Rajnish Kumar said. Credit growth in the current financial year will be between 12% and 14%, compared with about 14% in the previous 12 months, he told the media in Kolkata. The financial ...

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• 19 August

  SNB sight deposits reach record high

  

  Bloomberg Swiss National Bank (SNB) data suggest it pumped 3.8 billion francs ($3.9 billion) into markets last week to control the franc, sending its sight deposits to a record high. With the franc at its strongest since 2017 against the euro, sight deposits at the SNB have increased over the past month, suggesting the central bank is making good on ...

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• 19 August

  China rate reform all set to lower borrowing costs

  

  Bloomberg China took a major step towards reforming its system of interest rates, in a move aimed at pushing down the cost of borrowing by households and companies as the economic growth slows. From August 20, new loans must be priced “mainly” with reference to a revamped benchmark that tracks the price of credit to banks’ best customers, the so-called ...

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• 19 August

  Cathay under scrutiny as CEO takes fall for protests

  

  Bloomberg Cathay Pacific Airways Ltd is counting on the resignation of its British chief executive officer, Rupert Hogg, to move beyond the tumult that saw its employees’ participation in the Hong Kong protests draw the ire of Beijing. But will it be enough? Incoming CEO Augustus Tang has the delicate task of continuing to placate China, an increasingly important market ...

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• 19 August

  Vegan sea urchin soon to start showing up on sushi counters

  

  Bloomberg The meat-free movement is finding its way into strange and exotic dishes. The latest example: imitation uni. Usually, the orange innards of sea urchins served in sushi restaurants are harvested from spiky creatures that live on seabeds. The delicacy requires much labour to collect and keep fresh. That makes it one of the most expensive items on menus; a ...

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