Hong Kong protests: Beware of ‘moral hazard’

Watching videos of Chinese protestors singing the US national anthem in the streets of Hong Kong, or hearing the tear-jerking chorus of “Les Miserables” during a sit-in at the Hong Kong airport, only someone with a heart of stone wouldn’t want to assist these brave people who are fighting for their freedom. But beware. The problem is that easy gestures ...

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Walmart finds consumer is still confident

A day after a stock market rout driven by recession fears, Walmart Inc. issued a second-quarter earnings report that should provide at least a sliver of solace: Consumers have been out in force spending at its big-box stores. The mega-retailer reported that US comparable sales rose 2.8 percent from a year earlier in the quarter. That growth looks especially robust ...

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The Treasury bond rush won’t end well

Many nations in recent years are trying to wall themselves off from the rest of the world, but financial markets are immune: Money is moving freely, showing financial markets at least remain as intertwined as ever. In Asia, Australia, Europe and the Americas, yield curves are inverting simultaneously. Investors, fearing that the protectionist nations will be successful against globalisation, are ...

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The pace of technological progress may be slowing

Shouldn’t we have space colonies by now? Instead there are signs that the pace of technological progress is slowing — even as researchers pump out papers at a prolific and increasing rate. With slowing progress in computing power, medicine and agriculture, my Bloomberg Opinion colleague Noah Smith warns that the stakes could not be higher. Surely some of the fault ...

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Boris Johnson is not the most important Brexiter

In the highly entertaining Channel 4 drama about the 2016 referendum campaign “Brexit: The Uncivil War,” Benedict Cumberbatch, playing the mastermind of the Vote Leave campaign, is sometimes found crouched in the narrow pantry where he retreats to think. It’s not hard to picture the real Dominic Cummings doing just that. Cummings is no mere political curiosity. Though unelected and ...

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Aston Martin needs James Bond armour

The company behind Aston Martin should take the plunge and raise some equity while it can. Aston Martin Lagonda Global Holdings Plc doesn’t need the money immediately. But the historic sportscar maker may in the future, and it would be better to secure the cushion now before its window of opportunity shuts entirely. The brief 21 percent share price fall ...

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WeWork takes startup-mania era to its logical extreme

I confided to a colleague that the WeWork Cos IPO filing reminded me of a lower-stakes Mueller report. Truly. It was good for WeWork, as it was for President Donald Trump, that the public had a chance over years to process in small doses the wild events described in those very different tomes. Without the history of WeWork reporting from ...

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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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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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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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