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EU MORNING BULLETS : 15TH-AUGUST-2019 August 15, 2019 at 07:27AM

EU MORNING BULLETS : 15TH-AUGUST-2019

 

* US 10 year futures traded up to US highs this morning in Asia of 130-22 area

* Japan confirmed IP fell 3.3%, -3.8%yy.

* Japan FM Aso says plans to raise sales tax in October remain unchanged despite recent yield moves.

* Nikkei -1.3%, Hang Seng -0.1% and the ASX -2.9%.

* Fed Bullard called current U.S. economic conditions “quite good” and said the goal of the central bank’s policy framework review should be to avoid a Japan-style deflationary trap.
“Unemployment is near a 50-year low. Inflation is low and stable,”.

* Ex Fed Yellen told FOX Business she doesn’t think the U.S. economy is headed toward a recession after the bond market sounded an economic alarm bell . . “I think the answer is
most likely no,”.. “I think the U.S. economy has enough strength to avoid that. But the odds have clearly risen and they are higher than I’m frankly comfortable with.”

U.S. President Trump tweets: We are winning, big time, against China. Companies & jobs are fleeing. Prices to us have not gone up, and in some cases, have come down. China is not
our problem, though Hong Kong is not helping. Our problem is with the Fed. Raised too much & too fast. Now too slow to cut Spread is way too much as other countries say THANK YOU to clueless Jay Powell and the Federal Reserve. Germany, and many others, are
playing the game! CRAZY INVERTED YIELD CURVE! We should easily be reaping big Rewards & Gains, but the Fed is holding us back. We will Win!

* German powerful industry federation BDI Wednesday called on the German government to open up the money taps after data showed the national economy contracted.

* Italy League leader and Interior Minister Matteo Salvini said Wednesday that Italy should have fresh elections as soon as possible, arguing that the political crisis he sparked
last week should not lead to “strange governments”.

* The European Central Bank blasted banks for slow-walking their Brexit preparations, telling them to move additional staff and resources to the European Union in case Britain leaves
without a deal on Oct. 31..

* Jeremy Corbyn has called on rebel Tories and opposition leaders to stop a no-deal Brexit by ousting Boris as PM and allowing Labour to form a caretaker government until a general
election.

* Norway central bank at 9am

* UK Retail sales data at 9.30am

* US empire mfg at 1.30pm, Phill fed at 1.30pm along with Retail sales and Initial claims, US IP + Cap.U. at 2.15pm.

 

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