The Day Today 14th January 2020

– US Treasury took China off the currency manipulator list saying China has made “enforceable commitments” not to devalue the yuan and it will also now publish exchange rate information
– US/China Phase One trade deal to include China buying more US energy ($50bn) and manufactured goods ($75bn), in total $200bn of US goods over two years in four industries says Politico
– China trade data shows total exports expanded in 2019 but dropped with the US as they fall into the third place trading partner behind Europe and ASEAN
– Iran’s internal protests over the Ukrainian aircraft disaster included chants of “Clerics get lost”, there will also be a meeting on Thursday in London by five nations whose citizens died in the crash to look at legal action
Flybe’s imminent collapse sees UK’s Chancellor, Sajid Javid, consider cutting air passenger duty on all domestic flights
– Rutland is the smallest UK county and only one not to have a McDonald’s, Burger King or KFC, it will decide today whether to allow a 24 hour McDonald’s drive through
– Visa bought Plaid for $5.3bn, Plaid is a Silicon Valley company that connects fintech companies with their customers’ bank accounts

US equities new highs, tech and materials stocks driving the move. Nvidia and Apple were among the big tech names, Tesla also powered higher crossing the $500 mark as Oppenheimer analyst Colin Rusch raised his 12-18 month f/c to $612. US 10 year yield 1.8423%. Asian equities saw a mixed performance, they came off the highs after China’s trade data showed the US’ share dropped last year
Results from JPMorgan, Citi and Wells Fargo today before the open

On this day in 1960 the Reserve Bank of Australia was established

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