The Day Today 14th May 2019

  • China raises tariffs on $60bn of US goods, President Trump will meet President Xi Jinping next month as the trade war escalates and Trump said of trade talks “we’ll let you know in 3 to 4 weeks…but I have a feeling it’s going to be very successful”
  • Japan Fin Min, Aso; Sino-US trade war economic shock not same scale as “Lehman shock”
  • BOJ’s Kuroda to parliament; would consider additional easing if consumer prices lost momentum
  • Brexit; May’s chief negotiator heads to Brussels to discuss changes to the political declaration of future relationship, it’s to appease Labour and not all agree, this amidst the Euro election protest vote where Conservatives slump to 5th place in polls
  • Samsung BioLogics wins court reprieve, shares jump
  • Nexon, Tokyo listed gamer, shares slip on logistics hold up over sale
  • Roche pushes back Spark takeover
  • Merck sees currency tailwind helping earnings growth
  • PBoC 6.8365 (6.7954)

Equity markets are really beginning to react to trade now, as is the Chinese renminbi, but headlines can be contradictory and trading follows suit. There are other events/data this week as well, with quite a few Fed speakers

On this day in 1955 the Soviet Union and seven Eastern bloc allies signed a security pact in Poland, it became known as the Warsaw Pact and followed West Germany entering NATO

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