The Day Today 17th May 2019

  • China state media, Xinhua: “we can’t see the US has any substantial sincerity in pushing forward talks”
  • US terminates Turkey’s preferential trade status, but slashes steel tariffs
  • Fed’s Brainard: “opportunistic reflation” where the Fed accepts an overshoot on 2% inflation, might be acceptable
  • BOJ Kuroda: “good chance low interest rates will be maintained”
  • Singapore non-oil exports slide
  • Australian election tomorrow, polls show main parties neck and neck
  • Brexit: cross party talks will close with no deal
  • Sony share buyback plan
  • Pinterest shares fall
  • Amazon to invest $575m in Deliveroo
  • PBoC 6.8859 (6.8688)
  • Option expiries today include EURUSD 1.1175 (1.6bn)

Asian equities mixed despite US’ positive lead, trade tensions still dominate. The Chinese renminbi is almost 3% lower in the last two weeks

On this day in 1792 the Buttonwood Agreement was signed by 24 stockbrokers outside 68 Wall Street under a buttonwood tree, effectively starting the New York Stock Exchange

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