The Day Today

– Japan exports fell for the ninth straight month amid a global slowdown, down 8.2% YoY although forecasts were for a 10.9% fall
– US money market rates soared prompting the Fed to employ overnight repo operations for the first time in years,

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– Trump says reaches initial tariff deal with Japan
– Singapore exports fall for the sixth straight month, a sign of global trade tensions
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– Oil price gain largest ever one day move, 11%, after a Saudi Arabian oil facility was attacked, it removed 5% of global supplies and half of Saudi Arabia’s
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Fannie Mae and Freddie Mac
Fannie Mae and Freddie Mac are government sponsored enterprises (GSES) that buy mortgages, mainly from banks, add a guarantee and make a security out of them.

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– Trump is to meet the president of South Korea amidst talk of renewed North Korea detente
– Brexit, Johnson’s DUP ‘lifeline‘ denied in Foster tweet as commons speaker warns Boris not to break the law
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