August, 2017

• 28 August

  It’s for winning hearts and minds in Latin America

  President Donald Trump’s threat to exercise a US “military option” in Venezuela was irresponsible not because it was unrealistic, although it was, or because it reinforced that nation’s tottering autocracy, although it did. The lasting damage of Trump’s words may be to the US relationship with Latin America. For the first time in more than a decade, some of the ...

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• 28 August

  Is Trump’s Afghanistan plan better than Obama’s?

  

  In a sense, President Donald Trump threaded a rhetorical needle last week explaining why he will prolong the war in Afghanistan that he had opposed as a candidate. America will no longer fight for girls’ schools and democracy. Instead, it will fight to destroy terrorists. “We will not dictate to the Afghan people how to live, or how to govern ...

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• 28 August

  Old ideas about foreign trade are being retired

  

  Most academic models of international trade are pretty simplistic. Some of these models are surprisingly effective for making certain types of predictions—for example, economists are very good at predicting how much different countries will trade with each other. But they’re not so good at predicting what kind of things the countries will specialize in, which country will have a trade ...

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• 28 August

  Democrats need a message, not a policy platform

  

  Democrats are in terrible shape. Republicans control all three branches of government in Washington, 34 of 50 governorships, and 68 of the 99 state legislatures. As they plot a comeback, Democrats have one obvious asset: the reckless presidency of Donald Trump. That’s not enough to close such a huge gap. And the battles that have started to rage inside the ...

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• 28 August

  Stocks rise as traders weigh Harvey

  

  Bloomberg US stocks edged higher, the dollar struggled and gold rose as investors weighed the damage from Tropical Storm Harvey. European stocks started the week on the back foot following Friday’s euro surge, but managed to pare a drop. Gasoline surged to the highest in two years and oil declined as flooding from Harvey inundated refining centers along the Texas ...

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• 28 August

  Saudi banks strong before FTSE upgrade decision

  DUBAI / Reuters Banks helped nudge stock markets in the Gulf higher on Monday with Saudi Arabian lenders, which may benefit from a potential upgrade of the kingdom by index compiler FTSE at the end of next month, outperforming. Egypt firmed on buying by foreign funds. Late next month FTSE will announce its decision on whether to include Saudi Arabia ...

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• 28 August

  Central bankers shun policy clues as trade pervades Jackson Hole

  

  Bloomberg Leaders of the world’s most powerful central banks defended post-crisis reforms at their annual retreat in Jackson Hole, Wyoming, while discussing the causes and consequences of populist waves that have reshuffled the political order in the US and Europe. Monetary policy wasn’t a major focus during the three-day gathering. When it was discussed, the messages from the Federal Reserve ...

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• 28 August

  ‘Commonwealth Bank’ faces second probe

  

  Bloomberg The recent fallout from the Commonwealth Bank of Australia’s money-laundering scandal widened, with the banking regulator launching an inquiry into the lender’s culture and governance. The nation’s biggest lender is already facing a court case from the financial crime agency alleging it breached money-laundering and terrorism financing laws more than 50,000 times, an investigation into its disclosure practices by ...

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• 28 August

  Chinese banks lead Asia equity as market rates rise

  

  Bloomberg Stocks in Hong Kong and China led gains in Asian equity markets as rising money market rates on the mainland boosted sentiment on lenders. The MSCI Asia Pacific Index added 0.1 percent to 160.62 as of 4:19 p.m. in Hong Kong, after posting its biggest weekly gain in five weeks. The Philippines market is closed for a holiday. The ...

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• 28 August

  SNB’s quiet days in Zurich give CEO Jordan respite as Franc sinks

  

  Bloomberg Thomas Jordan might have had the quietest August since he became Swiss National Bank president five years ago. Considered the haven of all havens by foreign exchange traders, the franc typically shoots up against other currencies whenever investors get anxious. This year, with no Greek debt crisis and the prospect that euro-area bond purchases might soon be wound down, ...

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