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#demographics #militaries #economies #currencies
#USA
- Best demographics
- Largest military
- Largest economy
- Most used currency
- Liquid financial markets
- Open capital account
- Rule of law
- Best geography
- Can be self sufficient if required
- Not trade dependent
#USA
- Best demographics
- Largest military
- Largest economy
- Most used currency
- Liquid financial markets
- Open capital account
- Rule of law
- Best geography
- Can be self sufficient if required
- Not trade dependent
#USA
Top trade partners as of 30 June 2018:
- China: 15.2% (strategic competitor)
- Canada: 15.1%
- Mexico: 14.6%
- Japan: 5.1%
- Germany: 4.4%
The next 10 years could result in the below:
- Mexico (25%)
- Canada (20%
- Japan (7%)
- South Korea (5%)
- Great Britain (4%)
Top trade partners as of 30 June 2018:
- China: 15.2% (strategic competitor)
- Canada: 15.1%
- Mexico: 14.6%
- Japan: 5.1%
- Germany: 4.4%
The next 10 years could result in the below:
- Mexico (25%)
- Canada (20%
- Japan (7%)
- South Korea (5%)
- Great Britain (4%)
#USA
Bring the manufacturing (jobs) home while negatively impacting China's economy.
forbes.com/sites/kenrapoz…
cebglobal.com/talentdaily/au…
irishtimes.com/business/econo…
Bring the manufacturing (jobs) home while negatively impacting China's economy.
forbes.com/sites/kenrapoz…
cebglobal.com/talentdaily/au…
irishtimes.com/business/econo…
#USA #China #TradeWars
It seems that China is now starting to show some concern about the growing trend of manufacturers looking to move out. The goal for the CCP is to keep the population employed. These developments are not supportive of employment.
It seems that China is now starting to show some concern about the growing trend of manufacturers looking to move out. The goal for the CCP is to keep the population employed. These developments are not supportive of employment.
#USA #China #TradeWars #Mexico
The country to most likely benefit from the disruption to US supply chains is Mexico.
The country to most likely benefit from the disruption to US supply chains is Mexico.
#USA #China #TradeWars #Mexico #Canada
We also know that Mexico and Canada got an exemption for the steel + aluminium tariffs. #NAFTA negotiations are likely to lead to further economic integration between the nations as the US withdraws from global trade
whitehouse.gov/presidential-a…
We also know that Mexico and Canada got an exemption for the steel + aluminium tariffs. #NAFTA negotiations are likely to lead to further economic integration between the nations as the US withdraws from global trade
whitehouse.gov/presidential-a…
#USA #China #TradeWars
Torsten Slok - "the point is that trade is not really important for the U.S. economy. But it is really important for #Europe and Asia and #EM.” As a % of GDP the US current account is -2.5% in 2018 vs. -6% in 2006.
Torsten Slok - "the point is that trade is not really important for the U.S. economy. But it is really important for #Europe and Asia and #EM.” As a % of GDP the US current account is -2.5% in 2018 vs. -6% in 2006.
#USA #China #TradeWars
We can also see that exports are growing fast than imports in rate of change terms. This is shrinking the trade deficit. The majority of the growth in exports is due to energy exports. In both real & nominal terms import growth is slowing in rate of change.
We can also see that exports are growing fast than imports in rate of change terms. This is shrinking the trade deficit. The majority of the growth in exports is due to energy exports. In both real & nominal terms import growth is slowing in rate of change.
#USA
Geographically the richest & most securable in the world, with:
- One of the largest agricultural production basins in the world
- Largest interconnected river system in the world
- Ocean moats on either side
- Mountains & deserts to the South
- Forests & lakes to the North
Geographically the richest & most securable in the world, with:
- One of the largest agricultural production basins in the world
- Largest interconnected river system in the world
- Ocean moats on either side
- Mountains & deserts to the South
- Forests & lakes to the North
#China
And we know how much China relies on debt to grow its economy.
Rate of change slowdown in debt growth = slowdown in economy.
And we know how much China relies on debt to grow its economy.
Rate of change slowdown in debt growth = slowdown in economy.
#EmergingMarkets
#EM is not excused from the debt issues either. Investors are concerned with slowing growth, high debt levels, debt serviceability & exposure to trade frictions. This has led to capital flight out of #EM.
millennialmacroresearch.com/wp-content/upl…
#EM is not excused from the debt issues either. Investors are concerned with slowing growth, high debt levels, debt serviceability & exposure to trade frictions. This has led to capital flight out of #EM.
millennialmacroresearch.com/wp-content/upl…
#EmergingMarkets
We can see the impact on #EM becoming reflexive to the point of something breaking. Argentina first, Turkey second - who is next? Brazil, India, Indonesia, Philippines, Malaysia?
forbes.com/sites/kenrapoz…
We can see the impact on #EM becoming reflexive to the point of something breaking. Argentina first, Turkey second - who is next? Brazil, India, Indonesia, Philippines, Malaysia?
forbes.com/sites/kenrapoz…
#EmergingMarkets #FED #bonds
To make matters worse the US deficits are growing - to make the US more competitive, & the Fed is shrinking its balance sheet. This is shrinking global $USD liquidity = not good for the rest of the world. The weakest get hit first.
To make matters worse the US deficits are growing - to make the US more competitive, & the Fed is shrinking its balance sheet. This is shrinking global $USD liquidity = not good for the rest of the world. The weakest get hit first.
#USD #liquidity
Tighter global liquidity conditions create plenty of issues. Swap lines may be needed at some point if stress reaches levels seen during the GFC again. The question is whether the Fed will provide them as readily as it did then. There may be strings attached.
Tighter global liquidity conditions create plenty of issues. Swap lines may be needed at some point if stress reaches levels seen during the GFC again. The question is whether the Fed will provide them as readily as it did then. There may be strings attached.
#USD #bonds #liquidity #Europe
- US deficits are projected to over a trillion going forward.
- The Treasury is maintaining a ~$400 billion cash balance at the Fed - funded by money market bills.
- Global SIFIs get squeezed as funding rates rise.
- EM gets crunched.
- US deficits are projected to over a trillion going forward.
- The Treasury is maintaining a ~$400 billion cash balance at the Fed - funded by money market bills.
- Global SIFIs get squeezed as funding rates rise.
- EM gets crunched.
#USA #China #EmergingMarkets #TradeWars More news relating to manufacturing jobs leaving China.
mobile.reuters.com/article/amp/id…
mobile.reuters.com/article/amp/id…
#USA #China #tradewars
Tariffs are not the only part of the containment strategy that the US is undertaking against China.
scmp.com/news/china/dip…
Tariffs are not the only part of the containment strategy that the US is undertaking against China.
scmp.com/news/china/dip…
#USA #China #India #Japan #Australia
The US, with its allies, still have the naval power to contain Chinese ambitions to breakout of the 1st line of containment. However, this is growing concern over the size of the Chinese navy.
media.defense.gov/2018/Aug/16/20…
The US, with its allies, still have the naval power to contain Chinese ambitions to breakout of the 1st line of containment. However, this is growing concern over the size of the Chinese navy.
media.defense.gov/2018/Aug/16/20…
#USA #China #Europe #UK
Doors are slamming shut in the developed world not just to Chinese investment in technology but potentially to a wave of acquisitions with a tech element, as diverse as smart heaters and robotic lawnmowers.
bloomberg.com/view/articles/…
Doors are slamming shut in the developed world not just to Chinese investment in technology but potentially to a wave of acquisitions with a tech element, as diverse as smart heaters and robotic lawnmowers.
bloomberg.com/view/articles/…
#China #ChinaSlowing
On the other hand, China cannot handle any more debt.
bloomberg.com/view/articles/…
On the other hand, China cannot handle any more debt.
bloomberg.com/view/articles/…
#USD #USA $USD
"The dollar was on one side of almost 90 percent of foreign-exchange transactions, according to the Bank for International Settlements. The yuan is making progress, but remains under 5 percent."
bloomberg.com/view/articles/…
"The dollar was on one side of almost 90 percent of foreign-exchange transactions, according to the Bank for International Settlements. The yuan is making progress, but remains under 5 percent."
bloomberg.com/view/articles/…
#tradewars #trade #USA #China
The hawks are eyeing an even more ambitious agenda, says Kennedy: A long-term disentanglement of the two economies, with the goal of bringing supply chains back from Asia to the U.S.
bloomberg.com/news/articles/…
The hawks are eyeing an even more ambitious agenda, says Kennedy: A long-term disentanglement of the two economies, with the goal of bringing supply chains back from Asia to the U.S.
bloomberg.com/news/articles/…
#EuropeSlowing #ChinaSlowing #Europe #China
It is not just Germany’s economy showing signs of fatigue, as Europe’s recovery is also looking more frayed around the edges these days. Beijing should take note.
scmp.com/comment/insigh…
It is not just Germany’s economy showing signs of fatigue, as Europe’s recovery is also looking more frayed around the edges these days. Beijing should take note.
scmp.com/comment/insigh…
#USA #China #trade #TradeWars
The two countries have now targeted $50 billion of each other's goods and threatened duties on most of the rest of their bilateral trade, raising concerns that the conflict could dent global economic growth.
cnbc.com/2018/08/24/no-…
The two countries have now targeted $50 billion of each other's goods and threatened duties on most of the rest of their bilateral trade, raising concerns that the conflict could dent global economic growth.
cnbc.com/2018/08/24/no-…
#USA #China #trade #TradeWars
“The U.S. and China are now in the most dangerous period in the past 40 years,” said Lu Xiang, Chinese Academy of Social Sciences. “Mr. Trump put a knife on our neck. We will never surrender.”
bloomberg.com/news/articles/…
“The U.S. and China are now in the most dangerous period in the past 40 years,” said Lu Xiang, Chinese Academy of Social Sciences. “Mr. Trump put a knife on our neck. We will never surrender.”
bloomberg.com/news/articles/…
#USA #Europe #Germany
"The West as we once knew it no longer exists. Our relationship to the United States cannot currently be called a friendship and can hardly be referred to as a partnership."
bloomberg.com/view/articles/…
"The West as we once knew it no longer exists. Our relationship to the United States cannot currently be called a friendship and can hardly be referred to as a partnership."
bloomberg.com/view/articles/…
#Germany #China More nations cracking down on foreign direct investment by China.
scmp.com/week-asia/busi…
scmp.com/week-asia/busi…
#trade #tradewars
"For U.S.-China trade, it is going to be much more difficult to come to a short-term resolution, particularly if we sit back for a minute and look at some of the rhetoric coming out of this administration," Celico said.
h/t @FWIWmacro
bloomberg.com/news/articles/…
"For U.S.-China trade, it is going to be much more difficult to come to a short-term resolution, particularly if we sit back for a minute and look at some of the rhetoric coming out of this administration," Celico said.
h/t @FWIWmacro
bloomberg.com/news/articles/…
#trade #tradewars #NAFTA
Strong statements from #Mexico on agreement with #USA.
reuters.com/article/us-tra…
Strong statements from #Mexico on agreement with #USA.
reuters.com/article/us-tra…
#China #ChinaSlowing
“The decline reflects the many barriers that our country’s infrastructure construction faces, and the stiff competition in low-end manufacturing while middle- and high-end sectors have relatively high bar for entry,” NDRC said.
reuters.com/article/us-chi…
“The decline reflects the many barriers that our country’s infrastructure construction faces, and the stiff competition in low-end manufacturing while middle- and high-end sectors have relatively high bar for entry,” NDRC said.
reuters.com/article/us-chi…
#China #ChinaSlowing
China will continue to deleverage the economy but control the pace and intensity of these efforts, echoing a central bank pledge that the country won’t resort to strong stimulus to prop up growth.
reuters.com/article/us-chi…
China will continue to deleverage the economy but control the pace and intensity of these efforts, echoing a central bank pledge that the country won’t resort to strong stimulus to prop up growth.
reuters.com/article/us-chi…
#tradewars #trade
#USA President Donald Trump is prepared to quickly ramp up a trade war with #China and has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week.
reuters.com/article/us-usa…
#USA President Donald Trump is prepared to quickly ramp up a trade war with #China and has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week.
reuters.com/article/us-usa…
#trade #tradewars
Specifically, Kudlow said, the United States was seeking “zero tariffs, zero non-tariff barriers, zero subsidies, stop the IP theft, stop the technology transfer, allow Americans to own their own companies.”
reuters.com/article/us-usa…
Specifically, Kudlow said, the United States was seeking “zero tariffs, zero non-tariff barriers, zero subsidies, stop the IP theft, stop the technology transfer, allow Americans to own their own companies.”
reuters.com/article/us-usa…
#trade #tradewars
“There is still an impact from front-loading of exports, but the main reason (for still-solid export growth) is strong growth in the U.S. economy,” said Zhang Yi, an economist at Zhonghai Shengrong Capital Management.
reuters.com/article/us-chi…
“There is still an impact from front-loading of exports, but the main reason (for still-solid export growth) is strong growth in the U.S. economy,” said Zhang Yi, an economist at Zhonghai Shengrong Capital Management.
reuters.com/article/us-chi…
#trade #tradewars
The #USA and #Japan have begun discussion over #trade, saying that Tokyo “knows it’s a big problem” if an agreement cannot be reached, and that #India has also asked to start talks on a #trade deal.
reuters.com/article/us-usa…
The #USA and #Japan have begun discussion over #trade, saying that Tokyo “knows it’s a big problem” if an agreement cannot be reached, and that #India has also asked to start talks on a #trade deal.
reuters.com/article/us-usa…
#trade #tradewars
“I see real opportunities for the transatlantic relationship to be a force that curtails Chinese economic aggression and unfair trade practices,” Sondland said.
reuters.com/article/us-usa…
“I see real opportunities for the transatlantic relationship to be a force that curtails Chinese economic aggression and unfair trade practices,” Sondland said.
reuters.com/article/us-usa…
#ChinaSlowing #TradeWars “If the U.S. keeps ramping up its tariff measures against China, the export sector will face a long, hard road ahead despite government measures to mitigate the impact.
bloomberg.com/news/articles/…
bloomberg.com/news/articles/…
#SouthKorea #USA #Trade
“The deal is done,” Trump told reporters at the White House on Wednesday. “It’s been done with South Korea for a long time. It’s been done for about two months. We’ll do a ceremonial signing over the next very short period of time.”
bloomberg.com/news/articles/…
“The deal is done,” Trump told reporters at the White House on Wednesday. “It’s been done with South Korea for a long time. It’s been done for about two months. We’ll do a ceremonial signing over the next very short period of time.”
bloomberg.com/news/articles/…
#tradewars #China #USA
The plan being discussed would use an Obama administration executive order that allows the U.S. to impose sanctions on individuals or entities engaging in “malicious cyber-enabled activities.”
bloomberg.com/news/articles/…
The plan being discussed would use an Obama administration executive order that allows the U.S. to impose sanctions on individuals or entities engaging in “malicious cyber-enabled activities.”
bloomberg.com/news/articles/…
US exercising its privilege as the world's reserve currency. Increased US Treasury issuance is absorbing excess liquidity at the expense of #EmergingMarkets. $USD
home.treasury.gov/news/press-rel…
home.treasury.gov/news/press-rel…
#trade
Tokyo wants to avert steep tariffs on its car exports and fend off #USA. demands for a bilateral free trade agreement as #Japan is wary such an agreement would increase pressure the Japanese government to open sensitive markets such as agriculture.
reuters.com/article/us-usa…
Tokyo wants to avert steep tariffs on its car exports and fend off #USA. demands for a bilateral free trade agreement as #Japan is wary such an agreement would increase pressure the Japanese government to open sensitive markets such as agriculture.
reuters.com/article/us-usa…
#trade #USA
“There’s some discussions and information that we received that the Chinese government – the top of the Chinese government wished to pursue talks,” Kudlow said. “Mnuchin, who is the team leader with #China, has apparently issued an invitation.”
reuters.com/article/us-usa…
“There’s some discussions and information that we received that the Chinese government – the top of the Chinese government wished to pursue talks,” Kudlow said. “Mnuchin, who is the team leader with #China, has apparently issued an invitation.”
reuters.com/article/us-usa…
#trade #chinaslowing #growthslowing
10% tariffs on about $200 billion worth of Chinese imports, 25% by 2019. $267 billion in additional #USA tariffs if #China retaliates. Exemptions on smart phones & other consumer products.
reuters.com/article/us-usa…
10% tariffs on about $200 billion worth of Chinese imports, 25% by 2019. $267 billion in additional #USA tariffs if #China retaliates. Exemptions on smart phones & other consumer products.
reuters.com/article/us-usa…
#trade #TradeWars
#China will impose counter-tariffs immediately in 5-10% range on $60 billion worth of #USA goods.
bloomberg.com/news/articles/…
#China will impose counter-tariffs immediately in 5-10% range on $60 billion worth of #USA goods.
bloomberg.com/news/articles/…
#trade
“European companies have for a long time been stifled by the efforts of China’s reform deficit, and now they are taking collateral damage from the #USA #China #TradeWars ,” said Mats Harborn, president of the EU chamber in China.
scmp.com/business/compa…
“European companies have for a long time been stifled by the efforts of China’s reform deficit, and now they are taking collateral damage from the #USA #China #TradeWars ,” said Mats Harborn, president of the EU chamber in China.
scmp.com/business/compa…
#USA #China
The state-owned news agencies will be required to disclose information about their annual budget and expenditures, their ownership structure and other information under the act.
bloomberg.com/news/articles/…
The state-owned news agencies will be required to disclose information about their annual budget and expenditures, their ownership structure and other information under the act.
bloomberg.com/news/articles/…
$USD #USD
Allowing market forces to play a larger role in determining the renminbi's value and opening up the capital account would require a complete overhaul of the country's financial system. h/t @MehulD108
ftalphaville.ft.com/2018/09/19/153…
Allowing market forces to play a larger role in determining the renminbi's value and opening up the capital account would require a complete overhaul of the country's financial system. h/t @MehulD108
ftalphaville.ft.com/2018/09/19/153…
#China #ChinaSlowing
China’s media watchdog listed eight types of content that are not allowed to be imported to China, such as violence, terrorism, incitement to crime, endangering social stability 🤣 and harmful to national sentiment.
reuters.com/article/us-chi…
China’s media watchdog listed eight types of content that are not allowed to be imported to China, such as violence, terrorism, incitement to crime, endangering social stability 🤣 and harmful to national sentiment.
reuters.com/article/us-chi…
#trade
#Japan is keen to avoid higher tariffs on autos, and wants to use its negotiations with the European Union for a free trade pact as a model for how it deals with the #USA, the Nikkei said.
uk.reuters.com/article/us-jap…
#Japan is keen to avoid higher tariffs on autos, and wants to use its negotiations with the European Union for a free trade pact as a model for how it deals with the #USA, the Nikkei said.
uk.reuters.com/article/us-jap…
#geopolitics
Military experts said the balance of power between #Taiwan and #China has shifted in favour of China, which could probably overwhelm the island unless #USA forces came quickly to its aid.
reuters.com/article/us-usa…
Military experts said the balance of power between #Taiwan and #China has shifted in favour of China, which could probably overwhelm the island unless #USA forces came quickly to its aid.
reuters.com/article/us-usa…
#geopolitics #USA #China
China’s Defence Ministry has said it would recall navy chief Shen Jinlong from a visit to the United States and postpone planned talks in Beijing between Chinese and U.S. military officials that had been set for next week.
reuters.com/article/us-usa…
China’s Defence Ministry has said it would recall navy chief Shen Jinlong from a visit to the United States and postpone planned talks in Beijing between Chinese and U.S. military officials that had been set for next week.
reuters.com/article/us-usa…
#trade #USA #Eurozone
“We’re still in that exploratory phase. We haven’t started any negotiations yet. People are talking to each other and we will have a new meeting in November,” Malmstrom said.
reuters.com/article/us-usa…
“We’re still in that exploratory phase. We haven’t started any negotiations yet. People are talking to each other and we will have a new meeting in November,” Malmstrom said.
reuters.com/article/us-usa…
#trade #USA #China
“We enter into that soberly with an enormous amount of study, but the fact is that what we were doing demonstrably failed,” Lighthizer said.
reuters.com/article/us-usa…
“We enter into that soberly with an enormous amount of study, but the fact is that what we were doing demonstrably failed,” Lighthizer said.
reuters.com/article/us-usa…
#trade #USA #Japan
The talks will happen in two “tranches,” with the first set aiming for an “early harvest” on reducing tariffs and other barriers to trade in goods.
reuters.com/article/us-usa…
The talks will happen in two “tranches,” with the first set aiming for an “early harvest” on reducing tariffs and other barriers to trade in goods.
reuters.com/article/us-usa…
#trade #tradewars #ChinaSlowing
The cuts on over fifteen hundred industrial products are expected to lower costs for consumers and companies by about 60 billion yuan this year. The overall tariff level will be reduced to 7.5% in 2018 from 9.8% in 2017.
reuters.com/article/us-chi…
The cuts on over fifteen hundred industrial products are expected to lower costs for consumers and companies by about 60 billion yuan this year. The overall tariff level will be reduced to 7.5% in 2018 from 9.8% in 2017.
reuters.com/article/us-chi…
#geopolitics #USA #Europe #Iran #OOTT
"We will be watching the development of this structure that doesn’t exist yet and has no target date to be created. We do not intend to allow our sanctions to be evaded by Europe or anybody else.”
reuters.com/article/us-ira…
"We will be watching the development of this structure that doesn’t exist yet and has no target date to be created. We do not intend to allow our sanctions to be evaded by Europe or anybody else.”
reuters.com/article/us-ira…
#ChinaSlowing #trade
A #US-led trade system that excludes #China would be the worst-case scenario for Beijing because such a structure could lead to fundamental realignments of international economic relations and global value chains
h/t @CurrencyWar1
scmp.com/economy/china-…
A #US-led trade system that excludes #China would be the worst-case scenario for Beijing because such a structure could lead to fundamental realignments of international economic relations and global value chains
h/t @CurrencyWar1
scmp.com/economy/china-…
$USDCNY
“There is a material chance that the #US could label #China. The US administration can make a judgement that China is not doing enough to address the weakening of the yuan, even if it was market driven this year,” Goh said.
scmp.com/business/money…
“There is a material chance that the #US could label #China. The US administration can make a judgement that China is not doing enough to address the weakening of the yuan, even if it was market driven this year,” Goh said.
scmp.com/business/money…
#hongkong
“After discussing with the various chambers of commerce for the 9th time in the last 7 or 8 months, I think the general consensus is that the dispute between the #US and #China over trade is unlikely to be resolved in a short period of time.”
scmp.com/news/hong-kong…
“After discussing with the various chambers of commerce for the 9th time in the last 7 or 8 months, I think the general consensus is that the dispute between the #US and #China over trade is unlikely to be resolved in a short period of time.”
scmp.com/news/hong-kong…
#commodities #USA #agri
“There’s a hungry world out there besides #Canada, besides, #China, and we’re pursing that aggressively,” he added, saying the administration was seeking out new agreements with the European Union, #Japan and #India, among others.
reuters.com/article/us-usa…
“There’s a hungry world out there besides #Canada, besides, #China, and we’re pursing that aggressively,” he added, saying the administration was seeking out new agreements with the European Union, #Japan and #India, among others.
reuters.com/article/us-usa…
#geopolitics
“A key finding of this report is that #China represents a significant and growing risk to the supply of materials and technologies deemed strategic and critical to #US national security,” the report said.
h/t @erickarlos
reuters.com/article/us-usa…
“A key finding of this report is that #China represents a significant and growing risk to the supply of materials and technologies deemed strategic and critical to #US national security,” the report said.
h/t @erickarlos
reuters.com/article/us-usa…
#trade $USDJPY #USA
Along with fears of being slapped higher tariffs on auto exports, #Japan worries about having its hands tied on addressing sharp yen rises that hurts its export-reliant economy.
reuters.com/article/us-imf…
Along with fears of being slapped higher tariffs on auto exports, #Japan worries about having its hands tied on addressing sharp yen rises that hurts its export-reliant economy.
reuters.com/article/us-imf…
#USA
“If they’re put back in the proper place they would be if they weren’t allowed to steal our #technology, their #military capabilities would be substantially reduced. And a lot of the tensions we see caused by #China would be reduced,” Bolton said.
reuters.com/article/us-usa…
“If they’re put back in the proper place they would be if they weren’t allowed to steal our #technology, their #military capabilities would be substantially reduced. And a lot of the tensions we see caused by #China would be reduced,” Bolton said.
reuters.com/article/us-usa…
#tradewars #USA #Europe
“I think there is a broad view growing in the West that #China has in some ways taken advantage of the system,” said Charles Dallara.“It reminds me of the view in the West of #Japan in the 1980s, very much so.”
reuters.com/article/us-imf…
“I think there is a broad view growing in the West that #China has in some ways taken advantage of the system,” said Charles Dallara.“It reminds me of the view in the West of #Japan in the 1980s, very much so.”
reuters.com/article/us-imf…
#trade #USA #China
U.S. officials said the administration sought to revise the treaty in Sept and was rebuffed by other nations, prompting the decision to withdraw.
bloomberg.com/news/articles/…
U.S. officials said the administration sought to revise the treaty in Sept and was rebuffed by other nations, prompting the decision to withdraw.
bloomberg.com/news/articles/…
#trade #militaries
@erickarlos
This is the second presidential meeting in as many weeks for executives from $LMT, $BA, $NOC and $GD to discuss their supply chains. The #USA military depends on foreign countries, especially #China, for critical materials.
reuters.com/article/us-usa…
@erickarlos
This is the second presidential meeting in as many weeks for executives from $LMT, $BA, $NOC and $GD to discuss their supply chains. The #USA military depends on foreign countries, especially #China, for critical materials.
reuters.com/article/us-usa…
#trade #EU
The #USA share of that quota has slipped to less than 30 percent in the year to the end of June, according to the U.S. Meat Export Federation (USMEF). #Australia and #Uruguay, and more recently #Argentina, have steadily increased their shares.
reuters.com/article/us-usa…
The #USA share of that quota has slipped to less than 30 percent in the year to the end of June, according to the U.S. Meat Export Federation (USMEF). #Australia and #Uruguay, and more recently #Argentina, have steadily increased their shares.
reuters.com/article/us-usa…
#trade #tradewars
Japanese motor supplier Nidec said on Tuesday that it will move some production out of #China, joining Panasonic and other companies, including Chinese ones, in an exodus to Southeast Asia and #Mexico over concerns on #US #tariffs.
asia.nikkei.com/Economy/Trade-…
Japanese motor supplier Nidec said on Tuesday that it will move some production out of #China, joining Panasonic and other companies, including Chinese ones, in an exodus to Southeast Asia and #Mexico over concerns on #US #tariffs.
asia.nikkei.com/Economy/Trade-…
#trade #tradewars
Sixty-four percent of the companies said they were considering relocating production lines to outside of #China, but only 1 percent said they had any plans to establish manufacturing bases in North America.
reuters.com/article/us-usa…
Sixty-four percent of the companies said they were considering relocating production lines to outside of #China, but only 1 percent said they had any plans to establish manufacturing bases in North America.
reuters.com/article/us-usa…
#trade #tradewars
"it will be increasingly important for (#German) companies to closely examine the risks of their engagement in #China and to minimize their dependence by diversifying supply chains, production sites and sales markets.”
reuters.com/article/us-ger…
"it will be increasingly important for (#German) companies to closely examine the risks of their engagement in #China and to minimize their dependence by diversifying supply chains, production sites and sales markets.”
reuters.com/article/us-ger…
#trade #tradewars #USA
“No country presents a broader, more severe threat to our ideas, our innovation, and our economic security than #China,” FBI Director Christopher Wray said in a statement.
reuters.com/article/us-usa…
“No country presents a broader, more severe threat to our ideas, our innovation, and our economic security than #China,” FBI Director Christopher Wray said in a statement.
reuters.com/article/us-usa…
#trade #tradewars
“If we can open up China and make it fair, for the first time ever — this should have done years ago by other presidents but it wasn’t — I am very much willing to do it. But China very much wants to make a deal,” he said.
reuters.com/article/us-usa…
“If we can open up China and make it fair, for the first time ever — this should have done years ago by other presidents but it wasn’t — I am very much willing to do it. But China very much wants to make a deal,” he said.
reuters.com/article/us-usa…
#trade #tradewars
🤔
“There’s no mass movement, there’s no huge thing. We’re not on the cusp of a deal,” Kudlow told CNBC. He added that the administration had not seen any new offer from #China.
reuters.com/article/us-usa…
🤔
“There’s no mass movement, there’s no huge thing. We’re not on the cusp of a deal,” Kudlow told CNBC. He added that the administration had not seen any new offer from #China.
reuters.com/article/us-usa…
#Germany #USA #militaries
The U.S. government has approved integration of the U.S. Patriot PAC-3 MSE missile into a next-generation German missile defense system
reuters.com/article/us-loc…
The U.S. government has approved integration of the U.S. Patriot PAC-3 MSE missile into a next-generation German missile defense system
reuters.com/article/us-loc…
#trade #tradewars
The growing support for the U.S. initiative will add to pressure on China and India to accept reforms.
reuters.com/article/us-usa…
The growing support for the U.S. initiative will add to pressure on China and India to accept reforms.
reuters.com/article/us-usa…
#trade #USA #China
“We will continue to do everything in our power under U.S. law to restrict the flow of dumped or subsidized goods into U.S. markets,” said Commerce Secretary Wilbur Ross in a statement.
reuters.com/article/us-usa…
“We will continue to do everything in our power under U.S. law to restrict the flow of dumped or subsidized goods into U.S. markets,” said Commerce Secretary Wilbur Ross in a statement.
reuters.com/article/us-usa…
#geopolitics #USA #EU #Russia
The United States could yet impose new sanctions to try to block construction of the Russian Nord Stream 2 gas pipeline across the Baltic Sea to the European Union, the U.S. ambassador to the EU.
reuters.com/article/us-eu-…
The United States could yet impose new sanctions to try to block construction of the Russian Nord Stream 2 gas pipeline across the Baltic Sea to the European Union, the U.S. ambassador to the EU.
reuters.com/article/us-eu-…
#geopolitics #China
The behind-the-scenes push in Berlin, which comes after decisions by #Australia and #USA to ban Chinese suppliers from 5G, has emerged at a late stage, with #Germany expected to start its 5G auctions in early 2019.
reuters.com/article/us-ger…
The behind-the-scenes push in Berlin, which comes after decisions by #Australia and #USA to ban Chinese suppliers from 5G, has emerged at a late stage, with #Germany expected to start its 5G auctions in early 2019.
reuters.com/article/us-ger…
#trade #geopolitics
For security reasons and in the interest of retaining America’s crown as the world’s technological superpower, Mr Trump and the hawks who surround him are intent on “decoupling” much of the #US supply chain from #China.
ft.com/content/389a92…
For security reasons and in the interest of retaining America’s crown as the world’s technological superpower, Mr Trump and the hawks who surround him are intent on “decoupling” much of the #US supply chain from #China.
ft.com/content/389a92…
#geopolitics #USA #China
China’s global rise has “undoubtedly put at risk the national security and economic interests of the United States, its allies, and its partners”, according to a commission that advises the US Congress on national security.
scmp.com/news/china/dip…
China’s global rise has “undoubtedly put at risk the national security and economic interests of the United States, its allies, and its partners”, according to a commission that advises the US Congress on national security.
scmp.com/news/china/dip…
#trade #tradewars #USA #China
“Ambassador Lighthizer has made no representations to industry executives that future Section 301 tariffs are on hold”. “The plan for the tariffs has not changed at all. Any reports to the contrary are incorrect.”
reuters.com/article/us-usa…
“Ambassador Lighthizer has made no representations to industry executives that future Section 301 tariffs are on hold”. “The plan for the tariffs has not changed at all. Any reports to the contrary are incorrect.”
reuters.com/article/us-usa…
#trade #tradewars #China #Europe
Concerns are mounting across the western world about national-security risks tied to foreign investment, particularly by China
bloomberg.com/news/articles/…
Concerns are mounting across the western world about national-security risks tied to foreign investment, particularly by China
bloomberg.com/news/articles/…
#trade #tradewars #geopolitics
Singapore Prime Minister Lee Hsien Loong echoed those fears last week, saying tensions between the #USA and #China are rising to a point where Southeast Asia may one day have to “choose one or the other.”
bloomberg.com/news/articles/…
Singapore Prime Minister Lee Hsien Loong echoed those fears last week, saying tensions between the #USA and #China are rising to a point where Southeast Asia may one day have to “choose one or the other.”
bloomberg.com/news/articles/…
#trade #tradewars
44% of German firms expect a further escalation of trade tensions between Europe and the #US which is likely to continue to dampen new investments. 41% of firms surveyed considered it unlikely that the US & the #EU would reach agreement.
reuters.com/article/us-ger…
44% of German firms expect a further escalation of trade tensions between Europe and the #US which is likely to continue to dampen new investments. 41% of firms surveyed considered it unlikely that the US & the #EU would reach agreement.
reuters.com/article/us-ger…
#trade #tradewars
#China had not responded “constructively” to the initial section 301 reports & failed to take any substantive actions to address #USA concerns. China had made clear it would not change its policies in response to the investigation.
reuters.com/article/us-usa…
#China had not responded “constructively” to the initial section 301 reports & failed to take any substantive actions to address #USA concerns. China had made clear it would not change its policies in response to the investigation.
reuters.com/article/us-usa…
#trade #tradewars
#US Trade Representative Robert Lighthizer said on Wednesday that he was examining all available tools to raise U.S. tariffs on Chinese vehicles to the 40 percent duties that #China is now charging on U.S.-produced vehicles.
cnbc.com/2018/11/29/tru…
#US Trade Representative Robert Lighthizer said on Wednesday that he was examining all available tools to raise U.S. tariffs on Chinese vehicles to the 40 percent duties that #China is now charging on U.S.-produced vehicles.
cnbc.com/2018/11/29/tru…
#trade #tradewars
“In fact a total of $369 billion of Chinese exports have faced new US trade distortions this year. Once the full range of U.S. trade distortions is taken into account, a third more Chinese exports are implicated in this year’s trade war.”
reuters.com/article/us-usa…
“In fact a total of $369 billion of Chinese exports have faced new US trade distortions this year. Once the full range of U.S. trade distortions is taken into account, a third more Chinese exports are implicated in this year’s trade war.”
reuters.com/article/us-usa…
#geopolitics
#US authorities see ample reason for closer scrutiny, pointing to recently publicized cases of espionage, or alleged espionage, linked to former students from LSU, Duke,and the Illinois Institute of Technology in Chicago.
reuters.com/article/us-usa…
#US authorities see ample reason for closer scrutiny, pointing to recently publicized cases of espionage, or alleged espionage, linked to former students from LSU, Duke,and the Illinois Institute of Technology in Chicago.
reuters.com/article/us-usa…
#trade #tradewars
Trump agreed not to boost tariffs on $200 billion of Chinese goods to 25% on Jan. 1 as previously announced, while Beijing agreed to buy an unspecified but “very substantial” amount of agricultural, energy, industrial and other products.
reuters.com/article/us-g20…
Trump agreed not to boost tariffs on $200 billion of Chinese goods to 25% on Jan. 1 as previously announced, while Beijing agreed to buy an unspecified but “very substantial” amount of agricultural, energy, industrial and other products.
reuters.com/article/us-g20…
#trade
“Chinese buyers who want to buy U.S. crude will rush to import the oil during this window. Oil prices are low, so it makes economic sense to store some crude as commercial inventories,”
reuters.com/article/us-usa…
“Chinese buyers who want to buy U.S. crude will rush to import the oil during this window. Oil prices are low, so it makes economic sense to store some crude as commercial inventories,”
reuters.com/article/us-usa…
#Japan #USA #militaries #geopolitics #trade
Purchases of American-made equipment could help Tokyo ease trade friction with Washington as the U.S. pushes Japan to buy more American goods, including military gear.
reuters.com/article/us-jap…
Purchases of American-made equipment could help Tokyo ease trade friction with Washington as the U.S. pushes Japan to buy more American goods, including military gear.
reuters.com/article/us-jap…
#trade #tradewars #China
"When I talk to the president of the #USA he is not talking about going beyond March. The way this is set up is that at the end of 90 days, these tariffs will be raised,” said Lighthizer.
reuters.com/article/us-usa…
"When I talk to the president of the #USA he is not talking about going beyond March. The way this is set up is that at the end of 90 days, these tariffs will be raised,” said Lighthizer.
reuters.com/article/us-usa…
#militaries #USA
The $750 billion would be even more than the $733 billion request that the Pentagon had been expected to make for fiscal year 2020. It is also well above a $700 billion figure Trump cited in October.
reuters.com/article/us-usa…
The $750 billion would be even more than the $733 billion request that the Pentagon had been expected to make for fiscal year 2020. It is also well above a $700 billion figure Trump cited in October.
reuters.com/article/us-usa…
“No country poses a broader, more severe long-term threat to our nation’s economy and cyber infrastructure than #China, China’s goal, simply put, is to replace the #US as the world’s leading superpower, and they’re using illegal methods to get there.”
reuters.com/article/us-chi…
reuters.com/article/us-chi…
#trade #China #USA
China’s trade surplus with the United States rose to $323.32 billion last year, the highest on record going back to 2006. Trump might have something to say about this though I doubt he blames his own policies that caused front running.
reuters.com/article/us-chi…
China’s trade surplus with the United States rose to $323.32 billion last year, the highest on record going back to 2006. Trump might have something to say about this though I doubt he blames his own policies that caused front running.
reuters.com/article/us-chi…
#China #USA #tradewars
Investment into the United States fell by 83 percent but, by contrast, grew by 80 percent into Canada. In Europe, despite an overall decline, Chinese FDI into countries like Germany, France and Spain also actually grew.
reuters.com/article/us-chi…
Investment into the United States fell by 83 percent but, by contrast, grew by 80 percent into Canada. In Europe, despite an overall decline, Chinese FDI into countries like Germany, France and Spain also actually grew.
reuters.com/article/us-chi…
#USA #Germany #Russia
“The letter reminds that any company operating in the Russian energy export pipeline sector is in danger under CAATSA of U.S. sanctions,” the embassy spokesman said.
reuters.com/article/us-ger…
“The letter reminds that any company operating in the Russian energy export pipeline sector is in danger under CAATSA of U.S. sanctions,” the embassy spokesman said.
reuters.com/article/us-ger…
#trade #tradewars
“The threat of tariffs is not going away, even if there is a deal,” said one of three sources briefed on the talks who spoke with Reuters on condition of anonymity.
reuters.com/article/us-usa…
“The threat of tariffs is not going away, even if there is a deal,” said one of three sources briefed on the talks who spoke with Reuters on condition of anonymity.
reuters.com/article/us-usa…
#trade #tradewars
Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback. Lighthizer has resisted the idea, and the proposal had not yet been introduced to Trump, according to the WSJ.
reuters.com/article/us-usa…
Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback. Lighthizer has resisted the idea, and the proposal had not yet been introduced to Trump, according to the WSJ.
reuters.com/article/us-usa…
#trade #tradewars
Chuck Grassley, a US senator, said that, according to a briefing he received from Mr Lighthizer, “there has not been any progress made on structural changes that need to be made”.
ft.com/content/466cc9…
Chuck Grassley, a US senator, said that, according to a briefing he received from Mr Lighthizer, “there has not been any progress made on structural changes that need to be made”.
ft.com/content/466cc9…
#trade #tradewars #growthslowing
“Last year’s exceptional volumes were mainly driven by US importers’ front loading efforts aimed at beating the 1 January deadline for a 25% tariff on Chinese imports,” said Alphaliner.
theloadstar.co.uk/transpacific-v…
“Last year’s exceptional volumes were mainly driven by US importers’ front loading efforts aimed at beating the 1 January deadline for a 25% tariff on Chinese imports,” said Alphaliner.
theloadstar.co.uk/transpacific-v…
#trade #tradewars #USA #China
“There is a very large group coming. There’s been a lot of anticipatory work done but we’re miles and miles from getting a resolution and frankly that shouldn’t be too surprising,” Ross said.
reuters.com/article/us-usa…
“There is a very large group coming. There’s been a lot of anticipatory work done but we’re miles and miles from getting a resolution and frankly that shouldn’t be too surprising,” Ross said.
reuters.com/article/us-usa…
#trade #tradewars #USA #China
“Container transport grew 4 percent in 2018, which is a bit more than growth in the global economy. So we can’t say we’ve seen any real negative impact from the row between the United States and China,” Skou said.
reuters.com/article/us-dav…
“Container transport grew 4 percent in 2018, which is a bit more than growth in the global economy. So we can’t say we’ve seen any real negative impact from the row between the United States and China,” Skou said.
reuters.com/article/us-dav…
#trade #tradewars #USA #China
“We’re seeing unprecedented levels of cargo. We have seen particularly heavy volumes in recent months, warehouse space is at a premium and there have been issues with chassis availability.”
theloadstar.co.uk/us-deliveries-…
“We’re seeing unprecedented levels of cargo. We have seen particularly heavy volumes in recent months, warehouse space is at a premium and there have been issues with chassis availability.”
theloadstar.co.uk/us-deliveries-…
#trade #OBOR #geopolitics
Nissan Corp and Sinotrans are looking to sea-rail shipments from Yokohama to Hamburg through #China and Central Asia. #Japan sees this as an important trade strategy to build options to trade via the Suez Canal due to ME tension.
theloadstar.co.uk/chinas-belt-an…
Nissan Corp and Sinotrans are looking to sea-rail shipments from Yokohama to Hamburg through #China and Central Asia. #Japan sees this as an important trade strategy to build options to trade via the Suez Canal due to ME tension.
theloadstar.co.uk/chinas-belt-an…
#ChinaSlowing #tradewars
US tariffs that have already been imposed could crimp China’s economic growth rate by 0.5 percentage point in 2019, worsening to a full percentage point if all bilateral trade were to be taxed at a higher tariff rate.
scmp.com/business/artic…
US tariffs that have already been imposed could crimp China’s economic growth rate by 0.5 percentage point in 2019, worsening to a full percentage point if all bilateral trade were to be taxed at a higher tariff rate.
scmp.com/business/artic…
#tradewars
“It certainly is good to see some concessions and more buying interest from #China, but this is a concession in terms of a larger trade agreement. Brazilian offers are cheaper than we are so it’s just part of the negotiation."
reuters.com/article/us-usa…
“It certainly is good to see some concessions and more buying interest from #China, but this is a concession in terms of a larger trade agreement. Brazilian offers are cheaper than we are so it’s just part of the negotiation."
reuters.com/article/us-usa…
#GrowthSlowing $USD
Best of the bunch. Being predominantly driven by internal consumption the #US economy is still holding up relatively well compared to the rest of the world. Economic growth should continue to slow from its 2018 highs. First run of the US eco tracker. WIP.
Best of the bunch. Being predominantly driven by internal consumption the #US economy is still holding up relatively well compared to the rest of the world. Economic growth should continue to slow from its 2018 highs. First run of the US eco tracker. WIP.
#Geopolitics #Germany #China
The pivot to a more defensive industrial policy is driven by German concerns about foreign - particularly Chinese - companies acquiring its know-how and eroding the manufacturing base on which much of its wealth is built.
reuters.com/article/us-ger…
The pivot to a more defensive industrial policy is driven by German concerns about foreign - particularly Chinese - companies acquiring its know-how and eroding the manufacturing base on which much of its wealth is built.
reuters.com/article/us-ger…
#Geopolitics #trade #tradewars
“Regionalisation is most apparent in global innovations value chains, given their need to closely integrate many suppliers for just-in-time sequencing." DHL
theloadstar.co.uk/global-trade-s…
“Regionalisation is most apparent in global innovations value chains, given their need to closely integrate many suppliers for just-in-time sequencing." DHL
theloadstar.co.uk/global-trade-s…
#trade #tradewars
#China brought in 135,814 tonnes of #US soybeans in January, up 95 percent from 69,298 tonnes in December. But the figure was still 99.7 percent down from 5.82 million tonnes a year earlier
reuters.com/article/us-chi…
#China brought in 135,814 tonnes of #US soybeans in January, up 95 percent from 69,298 tonnes in December. But the figure was still 99.7 percent down from 5.82 million tonnes a year earlier
reuters.com/article/us-chi…
#trade #tradewars
“As a result of these very productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1.” 🤣🦶🥫
bloomberg.com/news/articles/…
“As a result of these very productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1.” 🤣🦶🥫
bloomberg.com/news/articles/…
#trade #tradewars #US
43 percent advocated maintaining tariffs at 10 percent and delaying the increase for 60 days while negotiations continued, the chamber said at a briefing on its annual #China business climate survey.
reuters.com/article/uk-usa…
43 percent advocated maintaining tariffs at 10 percent and delaying the increase for 60 days while negotiations continued, the chamber said at a briefing on its annual #China business climate survey.
reuters.com/article/uk-usa…
#trade #tradewars
Container spot rates from Asia to the US had been plummeting, with the Shanghai Containerised Freight Index (SCFI) recording a 10% drop for the US west coast and 7% for east coast ports.
theloadstar.com/ocean-alliance…
Container spot rates from Asia to the US had been plummeting, with the Shanghai Containerised Freight Index (SCFI) recording a 10% drop for the US west coast and 7% for east coast ports.
theloadstar.com/ocean-alliance…
#trade #growthslowing
Jan 2019 freight tonne km grew 1.8% on a year earlier, the slowest rate of growth in three years. IATA did note that the start of the year could bring volatility, but said there was no evidence that the earlier CNY had any affect.
theloadstar.com/air-freight-ma…
Jan 2019 freight tonne km grew 1.8% on a year earlier, the slowest rate of growth in three years. IATA did note that the start of the year could bring volatility, but said there was no evidence that the earlier CNY had any affect.
theloadstar.com/air-freight-ma…
#trade #tradewars #geopolitics #Italy
“Let it be clear that, if we are looking at the Silk Road towards #China for our exports, it is not to strike a political deal with China but only to help our companies.”
reuters.com/article/us-chi…
“Let it be clear that, if we are looking at the Silk Road towards #China for our exports, it is not to strike a political deal with China but only to help our companies.”
reuters.com/article/us-chi…
#trade
“A reasonable reading of this would be it shows the effect of the pre-tariff front-loading in Q4 18, which will inevitably act as a dampener on growth in Q1 and possibly even Q2 of 2019.”
theloadstar.com/transpacific-b…
“A reasonable reading of this would be it shows the effect of the pre-tariff front-loading in Q4 18, which will inevitably act as a dampener on growth in Q1 and possibly even Q2 of 2019.”
theloadstar.com/transpacific-b…
#GrowthSlowing #trade
IATA has downgraded its projected growth figures for air cargo by nearly half, following a poor start to the year. The association now predicts growth of just 2% for 2019, down from 3.7%, while others are even more pessimistic. theloadstar.com/a-bumpy-ride-f…
IATA has downgraded its projected growth figures for air cargo by nearly half, following a poor start to the year. The association now predicts growth of just 2% for 2019, down from 3.7%, while others are even more pessimistic. theloadstar.com/a-bumpy-ride-f…
#EuropeSlowing #trade
Ongoing issues have not been helped by storm Eberhard. The storm had resulted in “massive” transport restrictions, including rail cancellations. Some seaport terminals have already suspended or are restricting operations temporarily.
theloadstar.com/no-easing-of-e…
Ongoing issues have not been helped by storm Eberhard. The storm had resulted in “massive” transport restrictions, including rail cancellations. Some seaport terminals have already suspended or are restricting operations temporarily.
theloadstar.com/no-easing-of-e…
#Growthslowing #Commodities #trade
MS: "still expect freight rates to remain relatively low from a
historical perspective, & the high penetration of scrubbers in iron ore carriers
could lead to shipowners without scrubbers being unable to pass on the rising
fuel costs to miners"
MS: "still expect freight rates to remain relatively low from a
historical perspective, & the high penetration of scrubbers in iron ore carriers
could lead to shipowners without scrubbers being unable to pass on the rising
fuel costs to miners"
#GrowthSlowing #US
Fell 4.1% from a year ago. Affordability remains a challenge, especially at the lower end of the market, even as mortgage rates have dropped from last year’s highs and house price inflation has slowed.
reuters.com/article/us-usa…
Fell 4.1% from a year ago. Affordability remains a challenge, especially at the lower end of the market, even as mortgage rates have dropped from last year’s highs and house price inflation has slowed.
reuters.com/article/us-usa…
#GrowthSlowing #trade
Global Port Tracker report for North Europe, the growth forecast for the year has been revised downwards, to 2.2%. Attributed to the usual slow recovery after Chinese New Year.
theloadstar.com/no-relief-for-…
Global Port Tracker report for North Europe, the growth forecast for the year has been revised downwards, to 2.2%. Attributed to the usual slow recovery after Chinese New Year.
theloadstar.com/no-relief-for-…
#US #China #trade #tradewars
Citi - "The US gap between total potential and actual exports to China is positive ($57 billion) suggesting an opportunity for the US to increase shipments. This figure is constructive towards the minimum $100 billion/year of increased exports.
Citi - "The US gap between total potential and actual exports to China is positive ($57 billion) suggesting an opportunity for the US to increase shipments. This figure is constructive towards the minimum $100 billion/year of increased exports.
#GrowthSlowing #US
MS - "Today, Fed funds are 200 bps higher and the Fed's balance sheet is still contracting by $50 billion per month. We believe the higher level of rates is already having an effect on the more interest rate sensitive sectors of the economy."
MS - "Today, Fed funds are 200 bps higher and the Fed's balance sheet is still contracting by $50 billion per month. We believe the higher level of rates is already having an effect on the more interest rate sensitive sectors of the economy."
#GrowthSlowing #US
MS - "With our forecast of tepid earnings growth, we think capex will likely
decelerate as well which will have a negative knock on affect to economic growth and those companies that benefit from such spending--i.e. technology vendors. This contrasts to 2016."
MS - "With our forecast of tepid earnings growth, we think capex will likely
decelerate as well which will have a negative knock on affect to economic growth and those companies that benefit from such spending--i.e. technology vendors. This contrasts to 2016."
#trade #IMO2020
Drewry warns - failure to pass on a higher than historical average 50% success rate for fuel increases “could be ruinous for some lines, many of which are still operating with highly distressed balance sheets”.
theloadstar.com/warning-to-car…
Drewry warns - failure to pass on a higher than historical average 50% success rate for fuel increases “could be ruinous for some lines, many of which are still operating with highly distressed balance sheets”.
theloadstar.com/warning-to-car…
#GrowthSlowing #trade
“Despite a record number of void sailings in February and March, and despite the fact that no new services will be launched in April this year, spot freight rates on the transpacific routes have continued to fall."
theloadstar.com/soft-demand-an…
“Despite a record number of void sailings in February and March, and despite the fact that no new services will be launched in April this year, spot freight rates on the transpacific routes have continued to fall."
theloadstar.com/soft-demand-an…
#GrowthSlowing $USD
“The Fed exceeded markets’ dovish expectations, which took a toll on the greenback. The Fed did a big about-face on policy. The fact that the Fed threw in the towel on a 2019 rate hike was particularly dovish.”
reuters.com/article/us-usa…
“The Fed exceeded markets’ dovish expectations, which took a toll on the greenback. The Fed did a big about-face on policy. The fact that the Fed threw in the towel on a 2019 rate hike was particularly dovish.”
reuters.com/article/us-usa…
#trade
2018 saw 370,000 teu transported by rail between #China and the #EU, up 35% on a year earlier. Drewry also noted that the rates were less volatile than in ocean freight, and that costs had fallen.
theloadstar.com/faster-speed-a…
2018 saw 370,000 teu transported by rail between #China and the #EU, up 35% on a year earlier. Drewry also noted that the rates were less volatile than in ocean freight, and that costs had fallen.
theloadstar.com/faster-speed-a…
#trade
“The planned addition of capacity on this route in April could put freight rates under further pressure, with capacity utilisation on the Asia-Europe route failing to recover from the dip in February following the Chinese New Year holiday.”
theloadstar.com/life-on-asia-e…
“The planned addition of capacity on this route in April could put freight rates under further pressure, with capacity utilisation on the Asia-Europe route failing to recover from the dip in February following the Chinese New Year holiday.”
theloadstar.com/life-on-asia-e…
#GrowthSlowing #US
Fed trying to create some #inflation and growth it seems. 🧐
Leading Economic Index does not look happy.
Fed trying to create some #inflation and growth it seems. 🧐
Leading Economic Index does not look happy.
#trade
"Demand has waned significantly into March, resulting in a largely sluggish recovery in rates, not due to hit their January levels until mid-April to early May.”
theloadstar.com/slide-in-conta…
"Demand has waned significantly into March, resulting in a largely sluggish recovery in rates, not due to hit their January levels until mid-April to early May.”
theloadstar.com/slide-in-conta…
#demographics #US #China #Russia
As a study by the RAND Corporation concludes, “Barring catastrophe, the United States appears likely to have the demographic and economic resources to remain the world’s indispensable nation through at least 2050.”
bloomberg.com/opinion/articl…
As a study by the RAND Corporation concludes, “Barring catastrophe, the United States appears likely to have the demographic and economic resources to remain the world’s indispensable nation through at least 2050.”
bloomberg.com/opinion/articl…
#GrowthSlowing $USD
MS - "Our strategists are staying long US duration via real and nominal rates, long UST 5y vs. OIS, and short the US Dollar."
MS - "Our strategists are staying long US duration via real and nominal rates, long UST 5y vs. OIS, and short the US Dollar."
#GrowthSlowing #US
Wholesale stocks in the United States rose 1.2% from a month earlier in January of 2019, following a 1.1% increase in the previous month and easily beating market expectations of a 0.2% gain. Year-on-year, wholesale stocks advanced 7.7%.
tradingeconomics.com/united-states/…
Wholesale stocks in the United States rose 1.2% from a month earlier in January of 2019, following a 1.1% increase in the previous month and easily beating market expectations of a 0.2% gain. Year-on-year, wholesale stocks advanced 7.7%.
tradingeconomics.com/united-states/…
#GrowthSlowing
Citi - "Clients are not enthused after reviewing the responses of more than 70 institutions. Median cash positions have stayed flat at 5% of AUM over the past three months while average levels have edged higher."
Citi - "Clients are not enthused after reviewing the responses of more than 70 institutions. Median cash positions have stayed flat at 5% of AUM over the past three months while average levels have edged higher."
#GrowthSlowing $USD
MS - "Growth synchronicity peaked in January and since then has turned steadily downward. Global trade volumes fell 6pp over 2018 and are at their lowest level since the financial crisis."
MS - "Growth synchronicity peaked in January and since then has turned steadily downward. Global trade volumes fell 6pp over 2018 and are at their lowest level since the financial crisis."
#trade #geopolitics
#France signed 15 business contracts with #China, including a 300-plane order with Airbus, a 1 billion euro contract for EDF to build an offshore wind farm in China, and to lift an embargo on French poultry exports.
reuters.com/article/us-fra…
#France signed 15 business contracts with #China, including a 300-plane order with Airbus, a 1 billion euro contract for EDF to build an offshore wind farm in China, and to lift an embargo on French poultry exports.
reuters.com/article/us-fra…
#GrowthSlowing #US
The Dallas Fed index of new orders fell to 2.4 in March, the weakest reading for the gauge of Texas factories in more than two years. Growth of new orders dropped into negative territory for the first time since December 2016.
bloomberg.com/news/articles/…
The Dallas Fed index of new orders fell to 2.4 in March, the weakest reading for the gauge of Texas factories in more than two years. Growth of new orders dropped into negative territory for the first time since December 2016.
bloomberg.com/news/articles/…
#GrowthSlowing #US $SPY
MS - "The equity and credit markets look like they started to follow that lead from rates on Friday and we think that is likely to continue into 1Q earnings season."
MS - "The equity and credit markets look like they started to follow that lead from rates on Friday and we think that is likely to continue into 1Q earnings season."
#trade
Air freight rates in February are thought to have fallen to their lowest point in perhaps 18 months – an early drop so severe that IATA was forced to downgrade its annual growth forecast from 3.7% to 2%, just to account for the Q1 of the year.
theloadstar.com/air-freight-ra…
Air freight rates in February are thought to have fallen to their lowest point in perhaps 18 months – an early drop so severe that IATA was forced to downgrade its annual growth forecast from 3.7% to 2%, just to account for the Q1 of the year.
theloadstar.com/air-freight-ra…
#GrowthSlowing #Bonds $TLT
MS - "The US yield curve inversion does not bode well for the bank sector’s profitability and hence it is not surprising to see US banks increasing their Treasury holdings."
MS - "The US yield curve inversion does not bode well for the bank sector’s profitability and hence it is not surprising to see US banks increasing their Treasury holdings."
#GrowthSlowing $USD
While the appetite for foreign investment into the US is in decline, US foreign asset holders have been repatriating at a comparatively faster pace. As a result, net capital flows into the USD are positive.
While the appetite for foreign investment into the US is in decline, US foreign asset holders have been repatriating at a comparatively faster pace. As a result, net capital flows into the USD are positive.
#GrowthSlowing
MS - "#US investors have scaled back their foreign asset holdings. Consequently, net inflows have increased due to US-based investors reducing their foreign holdings. These net inflows have both flattened the US yield curve and supported the $USD.
MS - "#US investors have scaled back their foreign asset holdings. Consequently, net inflows have increased due to US-based investors reducing their foreign holdings. These net inflows have both flattened the US yield curve and supported the $USD.
#GrowthSlowing #trade
Import growth slowed in Jan 2019 to 1.6% YoY. Likely to fall further based on exports to the #US #China, #Singapore, #SouthKorea , and #Taiwan.
Import growth slowed in Jan 2019 to 1.6% YoY. Likely to fall further based on exports to the #US #China, #Singapore, #SouthKorea , and #Taiwan.
#trade
“Utilisation rates are increasing as Chinese industry is back in full swing, but questions remain over how long the market will take to recover its pre-CNY levels, despite significant increases in capacity management along transpacific routes.”
theloadstar.com/good-news-for-…
“Utilisation rates are increasing as Chinese industry is back in full swing, but questions remain over how long the market will take to recover its pre-CNY levels, despite significant increases in capacity management along transpacific routes.”
theloadstar.com/good-news-for-…
#GrowthSlowing #US
Retail sales slowed to 2.2% YoY, from 2.6% YoY
ISM Manufacturing up to 55.3, from 54.2 🧐
- New orders up
- Export orders down
- Employment up strong
- 16 industries report growth (incl. machinery, electronics, electrical equipment)
reuters.com/article/us-usa…
Retail sales slowed to 2.2% YoY, from 2.6% YoY
ISM Manufacturing up to 55.3, from 54.2 🧐
- New orders up
- Export orders down
- Employment up strong
- 16 industries report growth (incl. machinery, electronics, electrical equipment)
reuters.com/article/us-usa…
#US #GrowthSlowing
ISM New York Current Business Conditions index climbed 5.8 points from a month earlier to a four-month high of 66.9 in March 2019, following six consecutive months of declines. The 6-Month Outlook fell to a nearly 10-year low of 53.0 in March from 71.5 in Feb.
ISM New York Current Business Conditions index climbed 5.8 points from a month earlier to a four-month high of 66.9 in March 2019, following six consecutive months of declines. The 6-Month Outlook fell to a nearly 10-year low of 53.0 in March from 71.5 in Feb.
#US #GrowthSlowing
The ISM Non-Manufacturing PMI index for the United States slumped to 56.1 in March of 2019 from 59.7 in February, below market expectations of 58. The reading pointed to the weakest expansion in the services sector since August of 2017.
tradingeconomics.com/united-states/…
The ISM Non-Manufacturing PMI index for the United States slumped to 56.1 in March of 2019 from 59.7 in February, below market expectations of 58. The reading pointed to the weakest expansion in the services sector since August of 2017.
tradingeconomics.com/united-states/…
#US #inflation
Year-on-year March, the CPI increased 1.9%. The CPI gained 1.5% in February, which was the smallest rise since September 2016. The so-called core CPI was held down by a 1.9% plunge in apparel prices, the largest drop since January 1949.
reuters.com/article/us-usa…
Year-on-year March, the CPI increased 1.9%. The CPI gained 1.5% in February, which was the smallest rise since September 2016. The so-called core CPI was held down by a 1.9% plunge in apparel prices, the largest drop since January 1949.
reuters.com/article/us-usa…
#trade #OBOR
Ceva Logistics became the first company to complete a shipment by truck from #China to #Spain. “It’s a very cost-sensitive alternative to air and rail transport, as it’s 40% lower than air and at least 10 days faster than rail transport.”
theloadstar.com/milestone-for-…
Ceva Logistics became the first company to complete a shipment by truck from #China to #Spain. “It’s a very cost-sensitive alternative to air and rail transport, as it’s 40% lower than air and at least 10 days faster than rail transport.”
theloadstar.com/milestone-for-…
#trade
63% of finished vehicle imports and 78% of auto parts on westbound trades, #Germany was highlighted as a country most under threat, while #China and #Japan were singled out on eastbound trades, as 61% of auto-part imports originate in the former.
theloadstar.com/us-automotive-…
63% of finished vehicle imports and 78% of auto parts on westbound trades, #Germany was highlighted as a country most under threat, while #China and #Japan were singled out on eastbound trades, as 61% of auto-part imports originate in the former.
theloadstar.com/us-automotive-…
$BA #US
Total orders, an indication of future demand, fell to 95 aircraft in the first quarter from 180 a year earlier, suggesting a wait-and-watch approach for airlines as Boeing rides out the worst crisis in its history.
reuters.com/article/us-boe…
Total orders, an indication of future demand, fell to 95 aircraft in the first quarter from 180 a year earlier, suggesting a wait-and-watch approach for airlines as Boeing rides out the worst crisis in its history.
reuters.com/article/us-boe…
$BA #trade $AIR
Hmm... 🧐
Boeing said that it supported the #US trade representative and hoped that the draft tariff list would encourage the #EU “to comply with past W.T.O. rulings against it” and “end all illegal government support for Airbus.”
nytimes.com/2019/04/09/us/…
Hmm... 🧐
Boeing said that it supported the #US trade representative and hoped that the draft tariff list would encourage the #EU “to comply with past W.T.O. rulings against it” and “end all illegal government support for Airbus.”
nytimes.com/2019/04/09/us/…
#US #Rates
“We officially have a symmetric target and actual inflation has averaged around 1.7%, below our 2% target, for the past several years,” Kashkari said. “So if we were at 2.3% for several years that shouldn’t be concerning.”
reuters.com/article/us-usa…
“We officially have a symmetric target and actual inflation has averaged around 1.7%, below our 2% target, for the past several years,” Kashkari said. “So if we were at 2.3% for several years that shouldn’t be concerning.”
reuters.com/article/us-usa…
#US
Citi - "We remain worried that the senior loan officers’ survey (SLOS) is indicating some sort of slowdown in the latter part of the year given the typical 9-month lag. The SLOS generally leads job growth as well & capital investment & also affects industrial production."
Citi - "We remain worried that the senior loan officers’ survey (SLOS) is indicating some sort of slowdown in the latter part of the year given the typical 9-month lag. The SLOS generally leads job growth as well & capital investment & also affects industrial production."
#US #trade $UNP
During an investors’ call, executive VP for marketing and sales Kenny Rocker said he expected the growth in international business to “normalise” to seasonal levels and was cautious about the domestic outlook.
theloadstar.com/tracks-not-all…
During an investors’ call, executive VP for marketing and sales Kenny Rocker said he expected the growth in international business to “normalise” to seasonal levels and was cautious about the domestic outlook.
theloadstar.com/tracks-not-all…
#trade
Chinese officials have claimed a 106% increase in the value of cargo travelling by rail from #China to #Europe, equating to some $33bn. This is despite the increasing criticism from the EU.
theloadstar.com/china-europe-r…
Chinese officials have claimed a 106% increase in the value of cargo travelling by rail from #China to #Europe, equating to some $33bn. This is despite the increasing criticism from the EU.
theloadstar.com/china-europe-r…
#trade $USDJPY
Finance Minister Taro Aso told Treasury Secretary Steven Mnuchin that monetary policy and trade should be discussed separately, but Mnuchin apparently rejected this proposal.
asia.nikkei.com/Politics/Inter…
Finance Minister Taro Aso told Treasury Secretary Steven Mnuchin that monetary policy and trade should be discussed separately, but Mnuchin apparently rejected this proposal.
asia.nikkei.com/Politics/Inter…
#trade
Export growth from #China #SouthKorea #Taiwan #Singapore to the #US continues to indicate weak demand from the US due to tariff front running.
Export growth from #China #SouthKorea #Taiwan #Singapore to the #US continues to indicate weak demand from the US due to tariff front running.
$USD
Kinda what happens when you exports collapse...🤣
Kinda what happens when you exports collapse...🤣
$USD #liquidity
During the April – June 2019 quarter, Treasury expects to borrow $30 billion in privately-held net marketable debt, assuming an end-of-June cash balance of $270 billion.
home.treasury.gov/news/press-rel…
During the April – June 2019 quarter, Treasury expects to borrow $30 billion in privately-held net marketable debt, assuming an end-of-June cash balance of $270 billion.
home.treasury.gov/news/press-rel…
#trade
The outlook for global air trade is sluggish, dropping -3 to 55 points. All surveyed countries are forecasted to slowdown in air trade except for Germany (+9).
Global ocean trade outlook is also modest, seeing decelerated growth (-5 points to 56).
logistics.dhl/content/dam/dh…
The outlook for global air trade is sluggish, dropping -3 to 55 points. All surveyed countries are forecasted to slowdown in air trade except for Germany (+9).
Global ocean trade outlook is also modest, seeing decelerated growth (-5 points to 56).
logistics.dhl/content/dam/dh…
#geopoiltics
"To derive any useful instruction from #history, it seems to me essential first of all to grasp the principle that history, to be meaningful, must be the history of the
human race." Sir John Glubb - The Fate of Empires
"To derive any useful instruction from #history, it seems to me essential first of all to grasp the principle that history, to be meaningful, must be the history of the
human race." Sir John Glubb - The Fate of Empires
#US
The ISM Manufacturing fell to 52.8 in April, the lowest reading since October 2016, from 55.3 in March. The decline in the month was broad based, with declines in New Orders (-5.7 to 51.7), Employment (-5.1 to 52.4) and Production (-3.5 to 52.3).
reuters.com/article/us-usa…
The ISM Manufacturing fell to 52.8 in April, the lowest reading since October 2016, from 55.3 in March. The decline in the month was broad based, with declines in New Orders (-5.7 to 51.7), Employment (-5.1 to 52.4) and Production (-3.5 to 52.3).
reuters.com/article/us-usa…
#trade
Lighthizer has expressed particular concern with the use of subsidies in Beijing’s “Made in China 2025” industrial policy initiative. Subsidies and Made in China 2025 formed part of the top trade envoy’s justification for trade action.
scmp.com/news/world/uni…
Lighthizer has expressed particular concern with the use of subsidies in Beijing’s “Made in China 2025” industrial policy initiative. Subsidies and Made in China 2025 formed part of the top trade envoy’s justification for trade action.
scmp.com/news/world/uni…
#trade
“In that context, a 4.2% fall comes as a slight shock to the system and will have many in the industry reassessing the short- to medium-term forecasts for their business.”
theloadstar.com/shock-for-cont…
“In that context, a 4.2% fall comes as a slight shock to the system and will have many in the industry reassessing the short- to medium-term forecasts for their business.”
theloadstar.com/shock-for-cont…
#trade
WorldACD March 2019 figures. 2019Q1 ended with a year-on-year (YoY) decrease in chargeable weight of 3.1%.
- March total chargeable weight was down 2.4%, YoY,
- General cargo saw a fall of 4.8%.
- Direct ton km fell 1.8%.
theloadstar.com/soft-air-freig…
WorldACD March 2019 figures. 2019Q1 ended with a year-on-year (YoY) decrease in chargeable weight of 3.1%.
- March total chargeable weight was down 2.4%, YoY,
- General cargo saw a fall of 4.8%.
- Direct ton km fell 1.8%.
theloadstar.com/soft-air-freig…
#trade #Europe
European road freight capacity appears to be on the rise, but this is mainly due to weak economies than any turnaround in the truck driver shortage crisis.
theloadstar.com/europes-road-f…
European road freight capacity appears to be on the rise, but this is mainly due to weak economies than any turnaround in the truck driver shortage crisis.
theloadstar.com/europes-road-f…
#trade
The biggest Chinese import sector affected by the rate hike is a $20 billion-plus category of internet modems, routers and other data transmission devices, then $12 billion worth of printed circuit boards used in a vast array of U.S.-made products.
reuters.com/article/us-usa…
The biggest Chinese import sector affected by the rate hike is a $20 billion-plus category of internet modems, routers and other data transmission devices, then $12 billion worth of printed circuit boards used in a vast array of U.S.-made products.
reuters.com/article/us-usa…
#trade
“Margins on electronics products are on average in the single digits so it is impossible for exporters to share the costs from the additional tariffs,” a manufacturer of haircare electronics in #China who ships 3/4 of products to the #US.
ft.com/content/dcb49c…
“Margins on electronics products are on average in the single digits so it is impossible for exporters to share the costs from the additional tariffs,” a manufacturer of haircare electronics in #China who ships 3/4 of products to the #US.
ft.com/content/dcb49c…
#EmergingMarkets
The share of national output developing world governments are spending on investment net of depreciation of the existing capital stock, has fallen from 3.3% in 1997 to a low of just 0.9% according to the IMF.
ft.com/content/e5ea70…
The share of national output developing world governments are spending on investment net of depreciation of the existing capital stock, has fallen from 3.3% in 1997 to a low of just 0.9% according to the IMF.
ft.com/content/e5ea70…
#China #US
Beijing will fight “to the end” in the trade war.
- Raise duties on US$60 billion on June 1
- Tariffs will be imposed at four different levels: 25%on 2,493 items of goods, 20 per cent on 1,078 items, 10% on 974 items and 5% on 595 items.
scmp.com/news/china/dip…
Beijing will fight “to the end” in the trade war.
- Raise duties on US$60 billion on June 1
- Tariffs will be imposed at four different levels: 25%on 2,493 items of goods, 20 per cent on 1,078 items, 10% on 974 items and 5% on 595 items.
scmp.com/news/china/dip…
#OOTT
“Weaker JKM spot prices in Asia already killed most of the commercial reasoning for #US #LNG sales to #China. The tariff is the knockout blow,” said Ira Joseph, head of global gas and power analytics at S&P Global Platts.
reuters.com/article/us-usa…
“Weaker JKM spot prices in Asia already killed most of the commercial reasoning for #US #LNG sales to #China. The tariff is the knockout blow,” said Ira Joseph, head of global gas and power analytics at S&P Global Platts.
reuters.com/article/us-usa…
The #USTR outlines a potential duty of up to 25% tariffs on #China for goods with an annual #trade value of roughly $300 billion.
The proposed list excludes pharmaceuticals, select medical goods, rare earth materials and critical minerals.
cnbc.com/2019/05/13/us-…
The proposed list excludes pharmaceuticals, select medical goods, rare earth materials and critical minerals.
cnbc.com/2019/05/13/us-…
“Moreover, we cannot allow #China’s civil-#military integration strategy to undermine #US national security through prohibited technology transfer plots orchestrated by state actors.” Commerce Secretary Wilbur Ross
scmp.com/news/china/art…
scmp.com/news/china/art…
$USD
Huge component of global manufacturing. Great post below!
#US $TLT
Re China selling US Treasuries see below important observation.
cc: @MehulD108 @andrewmanners5 @Trinhnomics @dlacalle_IA
Re China selling US Treasuries see below important observation.
cc: @MehulD108 @andrewmanners5 @Trinhnomics @dlacalle_IA
#tradewar #US #China
$GOOG suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing.
reuters.com/article/us-hua…
$GOOG suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing.
reuters.com/article/us-hua…
#tradewars
Any deal could not be “50-50” between the two countries and had to be more in favor of the #US because of past trade practices by #China. Trump would be happy to simply keep tariffs on Chinese products.
reuters.com/article/us-usa…
Any deal could not be “50-50” between the two countries and had to be more in favor of the #US because of past trade practices by #China. Trump would be happy to simply keep tariffs on Chinese products.
reuters.com/article/us-usa…
#tradewars
German chipmaker Infineon Technologies has suspended shipments to Huawei Technology. Other companies that have suspended shipments include:
- Google
- Micron
- Qualcomm
- Qorvo
Potential other companies:
- ST Mmicroelectronics
- TSMC
- Toshiba
asia.nikkei.com/Economy/Trade-…
German chipmaker Infineon Technologies has suspended shipments to Huawei Technology. Other companies that have suspended shipments include:
- Micron
- Qualcomm
- Qorvo
Potential other companies:
- ST Mmicroelectronics
- TSMC
- Toshiba
asia.nikkei.com/Economy/Trade-…
#tradewars
“It is highly concerning that 63 per cent of respondents that have felt compelled to transfer technology said it happened within the last two years, and a quarter say the transfer is currently taking place,” the report said.
scmp.com/news/china/dip…
“It is highly concerning that 63 per cent of respondents that have felt compelled to transfer technology said it happened within the last two years, and a quarter say the transfer is currently taking place,” the report said.
scmp.com/news/china/dip…
#tradewars
Big deal if true 😅
"@Reuters quotes a source from @MoneyChina, as saying that #China is considering suspending business with suppliers who agreed to halt supplying #Huawei. The source added that China may temporarily hike tariffs for #Apple."
fxstreet.com/news/source-ch…
Big deal if true 😅
"@Reuters quotes a source from @MoneyChina, as saying that #China is considering suspending business with suppliers who agreed to halt supplying #Huawei. The source added that China may temporarily hike tariffs for #Apple."
fxstreet.com/news/source-ch…
#tradewars #US #China
The roll back is in effect for 90 days.
Will allow Huawei Technologies Co Ltd to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets.
reuters.com/article/us-hua…
The roll back is in effect for 90 days.
Will allow Huawei Technologies Co Ltd to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets.
reuters.com/article/us-hua…
#tradewars #US #China
The companies noted that the tariffs on footwear average 11.3% and reach rates as high as 67.5%. Adding a 25% tax increase on top of these tariffs would mean Americans could pay a nearly 100% duty on their shoes.
reuters.com/article/us-usa…
The companies noted that the tariffs on footwear average 11.3% and reach rates as high as 67.5%. Adding a 25% tax increase on top of these tariffs would mean Americans could pay a nearly 100% duty on their shoes.
reuters.com/article/us-usa…
#tradewars #US #China
Announcing U.S. investment first was a strategy Toyoda felt the company needed to pursue to avoid U.S. President Donald Trump’s wrath, the minutes showed - providing a rare window into how it has sought to tread carefully.
reuters.com/article/us-usa…
Announcing U.S. investment first was a strategy Toyoda felt the company needed to pursue to avoid U.S. President Donald Trump’s wrath, the minutes showed - providing a rare window into how it has sought to tread carefully.
reuters.com/article/us-usa…
#trade #US
April was very much a tale of two coasts, as east coast and Gulf port imports soared 11.5%, to 779,711 teu, while west coast numbers were up a more modest 2.6%, to 871,980 teu.
theloadstar.com/april-import-b…
April was very much a tale of two coasts, as east coast and Gulf port imports soared 11.5%, to 779,711 teu, while west coast numbers were up a more modest 2.6%, to 871,980 teu.
theloadstar.com/april-import-b…
#geopolitics
“The United States Senate is going to pass a bill, the House is going to approve it, and it’s going to go to the President and he’s going to sign it, that is going to put sanctions on Nord Stream 2.”
reuters.com/article/us-usa…
“The United States Senate is going to pass a bill, the House is going to approve it, and it’s going to go to the President and he’s going to sign it, that is going to put sanctions on Nord Stream 2.”
reuters.com/article/us-usa…
#trade
ME ports performed the worst, with their volumes shrinking by a substantial 10.1% versus Q1 2018. African and Oceania volumes fell by 4.4% and 1.1% respectively, with the former being dragged down by a sharp 16% drop in volume at SA ports.
theloadstar.com/gloomier-pictu…
ME ports performed the worst, with their volumes shrinking by a substantial 10.1% versus Q1 2018. African and Oceania volumes fell by 4.4% and 1.1% respectively, with the former being dragged down by a sharp 16% drop in volume at SA ports.
theloadstar.com/gloomier-pictu…
#tradewars #US #China
“With so much at stake, our communications infrastructure must be protected from threats posed by foreign governments and companies like Huawei,” Tom Cotton, a Republican senator co-sponsoring the bill, said in a statement.
reuters.com/article/us-hua…
“With so much at stake, our communications infrastructure must be protected from threats posed by foreign governments and companies like Huawei,” Tom Cotton, a Republican senator co-sponsoring the bill, said in a statement.
reuters.com/article/us-hua…
#geopolitics #China
“We must be conscious of the long-term and complex nature of various unfavorable factors at home and abroad, and appropriately prepare for various difficult situations.”
reuters.com/article/us-chi…
“We must be conscious of the long-term and complex nature of various unfavorable factors at home and abroad, and appropriately prepare for various difficult situations.”
reuters.com/article/us-chi…
#tradewars #US
“This change puts foreign exporters on notice that the Department of Commerce can countervail currency subsidies that harm U.S. industries,” Commerce Secretary Wilbur Ross said in a statement.
bloomberg.com/news/articles/…
“This change puts foreign exporters on notice that the Department of Commerce can countervail currency subsidies that harm U.S. industries,” Commerce Secretary Wilbur Ross said in a statement.
bloomberg.com/news/articles/…
#US $SPY
MS - "proprietary Leading Earnings Indicator suggests that earnings growth is poised to slow markedly. This suggests that equity market gains will have to come from valuations (in turn driven by an influx in liquidity), not from earnings growth."
MS - "proprietary Leading Earnings Indicator suggests that earnings growth is poised to slow markedly. This suggests that equity market gains will have to come from valuations (in turn driven by an influx in liquidity), not from earnings growth."
#US $SPY
#tradewars
“The #US government presented a number of arrogant demands to #China, including restricting the development of state-owned enterprises. This is beyond the scope of negotiations & touches on China’s fundamental economic system.”
reuters.com/article/us-usa…
“The #US government presented a number of arrogant demands to #China, including restricting the development of state-owned enterprises. This is beyond the scope of negotiations & touches on China’s fundamental economic system.”
reuters.com/article/us-usa…
#tradewars
#Apple supports about 5 million jobs in #China, about 1.8 million of which are through its iOS App Store ecosystem, according to the company’s homepage. #Foxconn, the Taiwanese subcontractor for Apple, provides more than 1 million jobs in China.
scmp.com/tech/apps-soci…
#Apple supports about 5 million jobs in #China, about 1.8 million of which are through its iOS App Store ecosystem, according to the company’s homepage. #Foxconn, the Taiwanese subcontractor for Apple, provides more than 1 million jobs in China.
scmp.com/tech/apps-soci…
#geopolitics
#China regularly calls #Taiwan the most sensitive and important issue in ties with the #UnitedStates, which has no formal ties with Taiwan but is the island’s main source of arms.
reuters.com/article/us-usa…
#China regularly calls #Taiwan the most sensitive and important issue in ties with the #UnitedStates, which has no formal ties with Taiwan but is the island’s main source of arms.
reuters.com/article/us-usa…
#trade
A blanked sailing from the 2M+HMM grouping on the transpacific this week failed to halt the further erosion of freight rates to both the Asia-US west coast and Asia-US east coast destinations.
theloadstar.com/carriers-blank…
A blanked sailing from the 2M+HMM grouping on the transpacific this week failed to halt the further erosion of freight rates to both the Asia-US west coast and Asia-US east coast destinations.
theloadstar.com/carriers-blank…
#tradewars
A 2nd listing would be intended to diversify $BABA funding channels & boost liquidity. The move comes as Chinese companies face an increasingly hostile #US government, which has put several #China tech companies on a blacklist.
reuters.com/article/us-ali…
A 2nd listing would be intended to diversify $BABA funding channels & boost liquidity. The move comes as Chinese companies face an increasingly hostile #US government, which has put several #China tech companies on a blacklist.
reuters.com/article/us-ali…
#trade
The deal known as the USMCA, which would replace the 25-year-old North American Free Trade Agreement, has yet to be approved by legislatures of the three participating countries - #Canada, #Mexico and the #UnitedStates.
reuters.com/article/us-usa…
The deal known as the USMCA, which would replace the 25-year-old North American Free Trade Agreement, has yet to be approved by legislatures of the three participating countries - #Canada, #Mexico and the #UnitedStates.
reuters.com/article/us-usa…
#tradewars
The industrial-subsidy measure that’s been hashed out between the #US, #Japan & #EU over the past 17 months seeks to restrict the market-distorting behavior of SOE & confront harmful subsidies, including low-interest loans by state-owned banks.
bloomberg.com/news/articles/…
The industrial-subsidy measure that’s been hashed out between the #US, #Japan & #EU over the past 17 months seeks to restrict the market-distorting behavior of SOE & confront harmful subsidies, including low-interest loans by state-owned banks.
bloomberg.com/news/articles/…
#trade
With tariffs of 25%, the potential teu contraction would be around 15% decline in teu volume from #China to the #US over time. All else equal.
theloadstar.com/china-us-trade…
With tariffs of 25%, the potential teu contraction would be around 15% decline in teu volume from #China to the #US over time. All else equal.
theloadstar.com/china-us-trade…
#trade
“Demand in the global air cargo market is currently weaker than in the two previous record years. In light of this, Lufthansa Cargo will now adjust its schedule in order to reduce its overall offering for the second and third quarters."
theloadstar.com/lufthansa-carg…
“Demand in the global air cargo market is currently weaker than in the two previous record years. In light of this, Lufthansa Cargo will now adjust its schedule in order to reduce its overall offering for the second and third quarters."
theloadstar.com/lufthansa-carg…
#currencies
UST Dept reviewed the policies of an expanded set of 21 major #US trading partners & found that 9 required close attention due to currency practices: #China, #Germany, #Ireland, #Italy, #Japan, #SouthKorea, #Malaysia, #Singapore, & #Vietnam.
reuters.com/article/us-usa…
UST Dept reviewed the policies of an expanded set of 21 major #US trading partners & found that 9 required close attention due to currency practices: #China, #Germany, #Ireland, #Italy, #Japan, #SouthKorea, #Malaysia, #Singapore, & #Vietnam.
reuters.com/article/us-usa…
#tradewars
In December 2017, U.S. President Donald Trump signed an executive order to reduce the country’s dependence on external sources of critical minerals, including rare earths, which was aimed at reducing #US vulnerability to supply disruptions.
bloomberg.com/news/articles/…
In December 2017, U.S. President Donald Trump signed an executive order to reduce the country’s dependence on external sources of critical minerals, including rare earths, which was aimed at reducing #US vulnerability to supply disruptions.
bloomberg.com/news/articles/…
#US
MS - "To adjust for QE, we took the Atlanta Fed’s work on the shadow FF rate. We then took the Fed’s estimate that every $200B of QT is worth an additional rate hike & added it to the FF rate. The result can be seen in with the darker line showing the impact of QE & QT."
MS - "To adjust for QE, we took the Atlanta Fed’s work on the shadow FF rate. We then took the Fed’s estimate that every $200B of QT is worth an additional rate hike & added it to the FF rate. The result can be seen in with the darker line showing the impact of QE & QT."
#trade
Freight tonne kilometres (FTKs) are down nearly 3% this year, according to the latest data from IATA. IATA reported that industry-wide FTKs for April had fallen 4.7%, YoY, while capacity continued to edge up, at 2.6%, forcing down load factors.
theloadstar.com/air-cargo-mark…
Freight tonne kilometres (FTKs) are down nearly 3% this year, according to the latest data from IATA. IATA reported that industry-wide FTKs for April had fallen 4.7%, YoY, while capacity continued to edge up, at 2.6%, forcing down load factors.
theloadstar.com/air-cargo-mark…
#geopolitics
The Pentagon has repeatedly flagged its concerns about American reliance on China for rare earth minerals, including in a 2018 report on vulnerabilities in the #US defense industrial base.
reuters.com/article/us-chi…
The Pentagon has repeatedly flagged its concerns about American reliance on China for rare earth minerals, including in a 2018 report on vulnerabilities in the #US defense industrial base.
reuters.com/article/us-chi…
#tradewars
#China State-grain buyers haven’t received any further orders to continue with the so-called goodwill buying of #US soy and don’t expect that to happen given the lack of agreement in trade negotiations.
bloomberg.com/news/articles/…
#China State-grain buyers haven’t received any further orders to continue with the so-called goodwill buying of #US soy and don’t expect that to happen given the lack of agreement in trade negotiations.
bloomberg.com/news/articles/…
#tradewars
President Donald Trump announced in March he would end #India’s access to the decades-old Generalized System of Preferences (GSP) trade program over what the #US said was lack of access to India’s market.
reuters.com/article/us-usa…
President Donald Trump announced in March he would end #India’s access to the decades-old Generalized System of Preferences (GSP) trade program over what the #US said was lack of access to India’s market.
reuters.com/article/us-usa…
Global airlines slashed profit forecasts by 21% . The IATA, which represents about 290 carriers or more than 80% of global air traffic, said the industry is expected to post a $28 billion profit in 2019, down from a December forecast of $35.5 billion.
reuters.com/article/us-air…
reuters.com/article/us-air…
#geopolitics
“If anyone dares to split #Taiwan from #China, the Chinese military has no choice but to fight at all costs ... The #US is indivisible, and so is China. China must be, and will be, reunified.” Chinese Defense Minister Wei Fenghe
reuters.com/article/us-asi…
“If anyone dares to split #Taiwan from #China, the Chinese military has no choice but to fight at all costs ... The #US is indivisible, and so is China. China must be, and will be, reunified.” Chinese Defense Minister Wei Fenghe
reuters.com/article/us-asi…
#tradewars #ausbiz
The tariffs on #Australia would have hit imports of aluminum, although measures that would have applied to other products had been discussed as well. Shipments of Australian aluminum to the #US have surged since last year.
nytimes.com/2019/06/02/bus…
The tariffs on #Australia would have hit imports of aluminum, although measures that would have applied to other products had been discussed as well. Shipments of Australian aluminum to the #US have surged since last year.
nytimes.com/2019/06/02/bus…
#tradewars
“If the US doesn’t lift all additional tariffs [levied on Chinese products], bilateral agricultural product trade between #China & the #US, including soybean trade, will never go back to normal,” Han told the official Xinhua news agency.
scmp.com/economy/china-…
“If the US doesn’t lift all additional tariffs [levied on Chinese products], bilateral agricultural product trade between #China & the #US, including soybean trade, will never go back to normal,” Han told the official Xinhua news agency.
scmp.com/economy/china-…
#geopolitics #Australia #China
“It may have been a surprise to others, but it certainly wasn’t a surprise to the government,” said Prime Minister Morrison, trying to dampen concerns.
“We have known about that for some time,” he said.
asiancorrespondent.com/2019/06/chines…
“It may have been a surprise to others, but it certainly wasn’t a surprise to the government,” said Prime Minister Morrison, trying to dampen concerns.
“We have known about that for some time,” he said.
asiancorrespondent.com/2019/06/chines…
#spreads
10 year minus
- 3 month LIBOR USD
- Repo
- EFFR
- USDJPY 3 month hedging cost
- USDEUR 3 month hedging cost
All negative...🧐
10 year minus
- 3 month LIBOR USD
- Repo
- EFFR
- USDJPY 3 month hedging cost
- USDEUR 3 month hedging cost
All negative...🧐
Relative economic growth between #US and #Europe massively in favor of the US. Are we about to reverse lower or does the $EURUSD fx rate collapse? 🧐
@dlacalle_IA @andrewmanners5 @MehulD108 @GMA050409 @Rubes630
@dlacalle_IA @andrewmanners5 @MehulD108 @GMA050409 @Rubes630
#trade
Since the first week of January rates from Asia to the US west and east coasts have slumped by 22% and 16% respectively, while carriers between Asia and North Europe have seen rates drop by 24% since January and by 17% to Mediterranean ports.
theloadstar.com/after-a-lacklu…
Since the first week of January rates from Asia to the US west and east coasts have slumped by 22% and 16% respectively, while carriers between Asia and North Europe have seen rates drop by 24% since January and by 17% to Mediterranean ports.
theloadstar.com/after-a-lacklu…
#trade
It also downgraded its profit forecast for the airline industry, from $35.5bn to $28bn. Costs are expected to grow by 7.4%. while revenues will be up 6.5%, squeezing net margins down to 3.2%, from 3.7% last year.
theloadstar.com/iata-downgrade…
It also downgraded its profit forecast for the airline industry, from $35.5bn to $28bn. Costs are expected to grow by 7.4%. while revenues will be up 6.5%, squeezing net margins down to 3.2%, from 3.7% last year.
theloadstar.com/iata-downgrade…
#tradewars
A proposal favored by some U.S. officials to designate Mexico a “safe third country,” which would force Central Americans seeking asylum in the United States to apply for it instead in Mexico, was not an option.
reuters.com/article/us-usa…
A proposal favored by some U.S. officials to designate Mexico a “safe third country,” which would force Central Americans seeking asylum in the United States to apply for it instead in Mexico, was not an option.
reuters.com/article/us-usa…
The Institute for Supply Management said its #US Manufacturing Purchasing Managers Index declined to 52.1 from 52.8 in April, hitting the lowest level since October 2016.
reuters.com/article/us-usa…
reuters.com/article/us-usa…
Hmm....🧐
“(#Germany has) a mandate for talks with the #US and I think it is of existential importance. It is regrettable that #France voted against this mandate but perhaps we have some work to do on convincing people."
German Chancellor Angela Merkel
reuters.com/article/us-ger…
German Chancellor Angela Merkel
reuters.com/article/us-ger…
“We have in the last three weeks fielded more calls from firms wondering about the political risk here than we probably have in the last 10 years,” said Ben Cavender, an analyst at #China Market Research Group
reuters.com/article/us-usa…
reuters.com/article/us-usa…
😂🧐
#brexit
#EU policymakers want to see chunks of clearing in euro-denominated transactions shifted from London to Frankfurt where they can be closely scrutinized, in a proposed move Giancarlo called “Fortress Europe”.
reuters.com/article/us-bri…
#EU policymakers want to see chunks of clearing in euro-denominated transactions shifted from London to Frankfurt where they can be closely scrutinized, in a proposed move Giancarlo called “Fortress Europe”.
reuters.com/article/us-bri…
#US border officers apprehended more than 132,000 people crossing from #Mexico in May, the Trump administration said on Wednesday, the highest monthly total in more than a decade and reaching what officials said were “crisis” levels.
reuters.com/article/us-usa…
reuters.com/article/us-usa…
#tradewars
“Our talks with #China, a lot of interesting things are happening. We’ll see what happens... I could go up another at least $300 billion and I’ll do that at the right time.”
reuters.com/article/us-usa…
“Our talks with #China, a lot of interesting things are happening. We’ll see what happens... I could go up another at least $300 billion and I’ll do that at the right time.”
reuters.com/article/us-usa…
#Mexico agreed to the immediate expansion along the entire border of a program under which the #US returns asylum-seeking migrants to Mexico to await adjudication of their cases. Border officers detained more than 132,000 people crossing over in May.
reuters.com/article/us-tra…
reuters.com/article/us-tra…
#militaries #US
Pentagon spending is projected to slow down after an initial boost under Trump. A deal with $UTX would allow $RTN to expand into commercial aviation, which does not rely on government spending like the defense sector.
reuters.com/article/us-utc…
Pentagon spending is projected to slow down after an initial boost under Trump. A deal with $UTX would allow $RTN to expand into commercial aviation, which does not rely on government spending like the defense sector.
reuters.com/article/us-utc…
#brexit
#Britain is due to leave the #EU on Oct. 31. If Parliament does not approve a deal - and the government does not ask the EU for another delay - there risks being major economic disruption from a disorderly departure.
reuters.com/article/us-bri…
#Britain is due to leave the #EU on Oct. 31. If Parliament does not approve a deal - and the government does not ask the EU for another delay - there risks being major economic disruption from a disorderly departure.
reuters.com/article/us-bri…
#TradeWars
“This is a major step (by #China) to improve its system and also a move to counter #US crackdown,” he added. “Once taking effect, some technology exports to the U.S. will be subject to the control.”
reuters.com/article/us-chi…
“This is a major step (by #China) to improve its system and also a move to counter #US crackdown,” he added. “Once taking effect, some technology exports to the U.S. will be subject to the control.”
reuters.com/article/us-chi…
#US
“The weakness in job growth was broadly experienced across industry groups and not obviously driven by distortions such as weather or strikes,” said Michael Feroli, an economist at JPMorgan in New York.
reuters.com/article/us-usa…
“The weakness in job growth was broadly experienced across industry groups and not obviously driven by distortions such as weather or strikes,” said Michael Feroli, an economist at JPMorgan in New York.
reuters.com/article/us-usa…
#US
New York PMI Current Business Conditions fell from a 12+ year high of 77.3 in April to a 2-year low of 48.6 in May. The Six-Month Outlook fell from a 7-month high of 77.8 in April to 56.3 in May.
ismny.com/wp-content/upl…
New York PMI Current Business Conditions fell from a 12+ year high of 77.3 in April to a 2-year low of 48.6 in May. The Six-Month Outlook fell from a 7-month high of 77.8 in April to 56.3 in May.
ismny.com/wp-content/upl…
@DrPippaM
"They (#China) have so lost their competitive edge, their quality control isn't good enough and their costs have gone through the roof."
afr.com/news/economy/w…
"They (#China) have so lost their competitive edge, their quality control isn't good enough and their costs have gone through the roof."
afr.com/news/economy/w…
#tradewars
“We would not do businesses with Chinese clients with whom Applied Materials and Lam Research are barred from doing businesses,” the executive said, referring to the top U.S. chip equipment firms.
reuters.com/article/us-usa…
“We would not do businesses with Chinese clients with whom Applied Materials and Lam Research are barred from doing businesses,” the executive said, referring to the top U.S. chip equipment firms.
reuters.com/article/us-usa…
#italy
“Money that is substantially hidden,” suggesting that deposit boxes were a way of hiding income and assets from the tax authorities. Those who voluntarily declared their deposit-box holdings would be taxed at a low rate of about 15%,
reuters.com/article/us-ita…
“Money that is substantially hidden,” suggesting that deposit boxes were a way of hiding income and assets from the tax authorities. Those who voluntarily declared their deposit-box holdings would be taxed at a low rate of about 15%,
reuters.com/article/us-ita…
#US #geopolitics
“We have no interest in engaging in a new conflict in the Middle East,” Brown added. “We will defend our interests, but a war with Iran is not in our strategic interest, nor in the best interest of the international community.”
reuters.com/article/us-mid…
“We have no interest in engaging in a new conflict in the Middle East,” Brown added. “We will defend our interests, but a war with Iran is not in our strategic interest, nor in the best interest of the international community.”
reuters.com/article/us-mid…
#tradewars
“We remain concerned about the escalation of tit-for-tat tariffs. “Broadly applied tariffs are not an effective tool to change China’s unfair trade practices. Tariffs are taxes paid directly by #US companies ... not #China.”
reuters.com/article/us-usa…
“We remain concerned about the escalation of tit-for-tat tariffs. “Broadly applied tariffs are not an effective tool to change China’s unfair trade practices. Tariffs are taxes paid directly by #US companies ... not #China.”
reuters.com/article/us-usa…
#US
MS Business Conditions Index, which captures turning points in the economy, fell by 32 points in June, to a level of 13 from a level of 45 in May. This drop is the largest one-month decline on record and the lowest level since Dec 2008.
cnbc.com/2019/06/13/a-m…
MS Business Conditions Index, which captures turning points in the economy, fell by 32 points in June, to a level of 13 from a level of 45 in May. This drop is the largest one-month decline on record and the lowest level since Dec 2008.
cnbc.com/2019/06/13/a-m…
#tradewars
“Everything was perfect before the third quarter of last year, but now orders have halved,” said Chen, who serves as special assistant to Altek founder and chairman Alex Hsia, on the sidelines of the CES Asia 2019 trade show.
scmp.com/tech/gear/arti…
“Everything was perfect before the third quarter of last year, but now orders have halved,” said Chen, who serves as special assistant to Altek founder and chairman Alex Hsia, on the sidelines of the CES Asia 2019 trade show.
scmp.com/tech/gear/arti…
#tradewars
“Once the negotiations are over, the #US will be finished, for sure we kick out all the American companies & bring all of ours back no way will Trump be re-elected.” Dai Xu, a professor at #China National Defence Uni, retired air force colonel.
ft.com/content/eb3685…
“Once the negotiations are over, the #US will be finished, for sure we kick out all the American companies & bring all of ours back no way will Trump be re-elected.” Dai Xu, a professor at #China National Defence Uni, retired air force colonel.
ft.com/content/eb3685…
#trade
Chicago-based Echo Global Logistics has seen its stock price fall 44% in the last 12 months since peaking at $36.75 in Sept. COO Dave Menzel said on an April 24 earnings call that "capacity is relatively loose and overall demand has been muted."
chicagobusiness.com/transportation…
Chicago-based Echo Global Logistics has seen its stock price fall 44% in the last 12 months since peaking at $36.75 in Sept. COO Dave Menzel said on an April 24 earnings call that "capacity is relatively loose and overall demand has been muted."
chicagobusiness.com/transportation…
#trade
Rates are some 11% higher for the #US west coast and 10% for east coast ports on a year ago, and still to work out the tariff-beating front-loading cargo spurt from the back end of last year.
theloadstar.com/asia-europe-ca…
Rates are some 11% higher for the #US west coast and 10% for east coast ports on a year ago, and still to work out the tariff-beating front-loading cargo spurt from the back end of last year.
theloadstar.com/asia-europe-ca…
#US #military drone has been shot down in international airspace over the Strait of Hormuz by an Iranian surface-to-air missile, a U.S. official said on Thursday, speaking on condition of anonymity.
reuters.com/article/us-mid…
reuters.com/article/us-mid…
🧐
#US
MS - "We see an increasingly risky environment as deteriorating data and a dovish Fed stand off. Extreme moves in momentum suggest crowding risk in defensives, quality, and secular growth as the market waffles on the growth outlook. We'd manage exposure carefully."
MS - "We see an increasingly risky environment as deteriorating data and a dovish Fed stand off. Extreme moves in momentum suggest crowding risk in defensives, quality, and secular growth as the market waffles on the growth outlook. We'd manage exposure carefully."
#HuaweiBan #tradewars
$IQE said this was a larger impact than previously forecast for risks related specifically to #Huawei, due to the far-reaching impact the sanctions have had on other companies and supply chains that are now becoming evident.
euronews.com/2019/06/21/iqe…
$IQE said this was a larger impact than previously forecast for risks related specifically to #Huawei, due to the far-reaching impact the sanctions have had on other companies and supply chains that are now becoming evident.
euronews.com/2019/06/21/iqe…
#tradewars
$AVGO fiscal 2019 second-quarter earnings call, CEO Hock Tan stated that the company was facing a broad-based slowdown in demand. Export restrictions had encouraged customers to slow purchases and absorb their existing inventories.
marketrealist.com/2019/06/broadc…
$AVGO fiscal 2019 second-quarter earnings call, CEO Hock Tan stated that the company was facing a broad-based slowdown in demand. Export restrictions had encouraged customers to slow purchases and absorb their existing inventories.
marketrealist.com/2019/06/broadc…
#tradewars
“The proposed tariffs on products that make up 80% of our business would be catastrophic. We would be forced to lay off employees and raise prices to consumers,” he said. “The factory jobs that build our products never existed in America.”
reuters.com/article/us-usa…
“The proposed tariffs on products that make up 80% of our business would be catastrophic. We would be forced to lay off employees and raise prices to consumers,” he said. “The factory jobs that build our products never existed in America.”
reuters.com/article/us-usa…
#IMO2020 #trade
“The sulphur cap will further put pressure on ocean freight rates and we... will have to pass those costs on to remain competitive,” Peder Winther, global head of ocean freight with Swiss transportation company Panalpina Group said.
reuters.com/article/us-shi…
“The sulphur cap will further put pressure on ocean freight rates and we... will have to pass those costs on to remain competitive,” Peder Winther, global head of ocean freight with Swiss transportation company Panalpina Group said.
reuters.com/article/us-shi…
$FDX #trade
“Ground continues to perform well, freight continues to perform well, but unfortunately on the international side the express business is still under pressure — essentially no change from what we saw a quarter ago.”
seattletimes.com/business/fedex…
“Ground continues to perform well, freight continues to perform well, but unfortunately on the international side the express business is still under pressure — essentially no change from what we saw a quarter ago.”
seattletimes.com/business/fedex…
#trade
FTCR #China Freight Index, a survey of 200 air, rail, road & waterway logistics firms, fell 1.4 points from May to 47.5, its lowest level since last June. Growing number of firms reporting that volumes were being hit by slower business.
ft.com/content/aee634…
FTCR #China Freight Index, a survey of 200 air, rail, road & waterway logistics firms, fell 1.4 points from May to 47.5, its lowest level since last June. Growing number of firms reporting that volumes were being hit by slower business.
ft.com/content/aee634…
#tradewars #China #US
While Lee expressed hope that the Osaka meeting will be a starting point, he said, "I do not expect that they will be able to solve the problem in Osaka," adding that it will be "a long process."
asia.nikkei.com/Editor-s-Picks…
While Lee expressed hope that the Osaka meeting will be a starting point, he said, "I do not expect that they will be able to solve the problem in Osaka," adding that it will be "a long process."
asia.nikkei.com/Editor-s-Picks…
#Singapore must expect some fallout from global #trade disruption, Prime Minister Lee Hsien Loong told reporters in Bangkok over the weekend. “You cannot just step on the gas and speed up and make up for a less favourable external environment,” Lee said.
scmp.com/business/compa…
scmp.com/business/compa…
#tradewars #US #China
“The reality, though, is President Trump could always have a change of heart,” the source said. “But the truce cake seems to have been baked.”
scmp.com/economy/china-…
“The reality, though, is President Trump could always have a change of heart,” the source said. “But the truce cake seems to have been baked.”
scmp.com/economy/china-…
#trade
#ASEAN member states & their partners; #China, #Japan, #SouthKorea, #Australia, #NewZealand & #India, will be locked in negotiations from Friday over an #EU-style trade deal known as the pan-Asian Regional Comprehensive Economic Partnership [RCEP].
smh.com.au/politics/feder…
#ASEAN member states & their partners; #China, #Japan, #SouthKorea, #Australia, #NewZealand & #India, will be locked in negotiations from Friday over an #EU-style trade deal known as the pan-Asian Regional Comprehensive Economic Partnership [RCEP].
smh.com.au/politics/feder…
#US
The Vistage CEO Confidence Index decreased 3.2 points in 2Q2019 to 88.4, the lowest level since the last three months of 2009, a report by Vistage Worldwide Inc. showed. Only 13% expect an improvement in the next 12 months.
bloomberg.com/news/articles/…
The Vistage CEO Confidence Index decreased 3.2 points in 2Q2019 to 88.4, the lowest level since the last three months of 2009, a report by Vistage Worldwide Inc. showed. Only 13% expect an improvement in the next 12 months.
bloomberg.com/news/articles/…
#trade
The #EU is already #Mercosur's biggest trade & investment partner & its 2nd largest for trade in goods. The EU wants to increase access for industrial products. Mercosur wants to increase exports of beef, sugar, poultry & other farm products.
bbc.com/news/world-eur…
The #EU is already #Mercosur's biggest trade & investment partner & its 2nd largest for trade in goods. The EU wants to increase access for industrial products. Mercosur wants to increase exports of beef, sugar, poultry & other farm products.
bbc.com/news/world-eur…
#trade
The success of the #China-#Europe rail link that Belarus’s stations on the Polish border were showing signs of exceeding capacity. “Plenty of rail capacity exists, it is the cranes that move the boxes at the border that are in short supply.”
theloadstar.com/belarus-bottle…
The success of the #China-#Europe rail link that Belarus’s stations on the Polish border were showing signs of exceeding capacity. “Plenty of rail capacity exists, it is the cranes that move the boxes at the border that are in short supply.”
theloadstar.com/belarus-bottle…
#trade
The SCFI reading for North #Europe slipped again this week, losing 2.1% to $701 per teu. Worryingly for carriers, it is down 21% YoY. The spot market now accounts for over 50% of the traffic moved on the transpac and #Asia-Europe trade lanes.
theloadstar.com/smooth-sailing…
The SCFI reading for North #Europe slipped again this week, losing 2.1% to $701 per teu. Worryingly for carriers, it is down 21% YoY. The spot market now accounts for over 50% of the traffic moved on the transpac and #Asia-Europe trade lanes.
theloadstar.com/smooth-sailing…
#trade
All signs point to the industry experiencing headwinds after two very good years, and the high base that they created. This normal fluctuation has been exacerbated by global trade tensions affecting two of our principal markets.
theloadstar.com/air-cargo-play…
All signs point to the industry experiencing headwinds after two very good years, and the high base that they created. This normal fluctuation has been exacerbated by global trade tensions affecting two of our principal markets.
theloadstar.com/air-cargo-play…
The port can accommodate large oil tankers from the #MiddleEast, and is linked to oil and gas pipelines to inland #China. Beijing considers the port to be a strategic alternative to routes through the Malacca Strait, where other countries have more say.
asia.nikkei.com/Spotlight/Belt…
asia.nikkei.com/Spotlight/Belt…
#trade
While rail's share of overall cargo traffic between #Europe and #China remains tiny -- 1.5% versus 95% for ocean shipping -- transportation industry watchers predict volumes will grow as businesses on both sides seize on the advantages of trains.
asia.nikkei.com/Spotlight/Belt…
While rail's share of overall cargo traffic between #Europe and #China remains tiny -- 1.5% versus 95% for ocean shipping -- transportation industry watchers predict volumes will grow as businesses on both sides seize on the advantages of trains.
asia.nikkei.com/Spotlight/Belt…
#trade
"Africa & Europe suffered least, with YoY volume drops of 2.2% & 2.4% respectively, APAC & North America chalked up YoY losses of 7% and 7.2% respectively. South America & ME & South Asia could not buck the trend either (-4% and -3.4%).”
theloadstar.com/the-air-freigh…
"Africa & Europe suffered least, with YoY volume drops of 2.2% & 2.4% respectively, APAC & North America chalked up YoY losses of 7% and 7.2% respectively. South America & ME & South Asia could not buck the trend either (-4% and -3.4%).”
theloadstar.com/the-air-freigh…
#trade
MS - "As uncertainty around trade tensions remains unresolved, trade growth is likely to stay subdued, in our view. Manufacturing PMIs new orders and export orders declined further in June. Capital goods imports growth remains weak. Risks remain skewed to the downside."
MS - "As uncertainty around trade tensions remains unresolved, trade growth is likely to stay subdued, in our view. Manufacturing PMIs new orders and export orders declined further in June. Capital goods imports growth remains weak. Risks remain skewed to the downside."
#OOTT
MS - "Still, the broader picture remains one of softness. The latest OPEC+ extension will take the current output agreement into its fourth consecutive year. The fact that this is required highlights the weakness in the underlying supply/demand fundamentals."
MS - "Still, the broader picture remains one of softness. The latest OPEC+ extension will take the current output agreement into its fourth consecutive year. The fact that this is required highlights the weakness in the underlying supply/demand fundamentals."
#TradeWars
Large #SouthKorea firms have been gradually withdrawing from #China for a number of years – even before the THAAD crisis. They are also leaving because Chinese firms have become much more competitive in the domestic market. #Vietnam benefiting.
scmp.com/economy/china-…
Large #SouthKorea firms have been gradually withdrawing from #China for a number of years – even before the THAAD crisis. They are also leaving because Chinese firms have become much more competitive in the domestic market. #Vietnam benefiting.
scmp.com/economy/china-…
