The Day Today 16th May 2019

  • President Trump signed an executive order on telecoms, Huawei were not mentioned but the Commerce Department subsequently added them to the Entity List
  • Australia unemployment rises to 5.2%, 28 400 jobs were added but mostly part-time, sets stage for rate cut
  • Bitcoin is up +100% this year, Chinese investors buying, worried about the yuan falling, is speculation
  • Fed’s Barkin: “we could talk ourselves into a recession…business confidence is fragile”
  • Brexit: Withdrawal Agreement Bill vote week of June 3rd, if not passed would mean either no deal exit or revoke says Brexit secretary
  • Japan sales tax increase, planned for October, looks increasingly in doubt
  • Iranian oil unloaded in China despite US sanctions
  • Alibaba beats expectations

Equities wobble as trade tensions look set to escalate again with President Trump’s executive order on telecoms. This came after he delayed auto tariffs by six months, staving off trade confrontation with the EU and Japan for a while, and giving US equities a fillip

On this day in 1943 Operation Chastise begins, the Dam Buster raid, 19 Lancaster bombers took part, releasing their bombs from a height of 60 ft, 8 were shot down

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