The Day Today 13th October 2021

  • China exports jump, imports lower than exp though coal and gas import volumes hit highest this year.
  • DE Shaw applies to QFII programme to invest directly in China.
  • S Korea broadband provider sues Netflix over increased costs as traffic surges due to popularity of “Squid Game”.
  • House votes on party lines to approve raising debt limit until Dec.
  • IMF Director of Monetary and Capital Markets tells the Nikkei that “the authorities in China do have the means to address Evergrande” issues.
  • IMF Chief Economist warns central banks should be “very, very vigilant” on inflation second-round effects.
  • Deutsche sued for alleged mis-selling FX derivatives to Spanish hotel group.
  • NBER paper suggests companies paying for S&P ratings “appear[s] to improve their chance of entering” the S&P index.
  • Head of Brompton says it will take 18 months to sort out supply chain in the bike industry
  • Fed Bostic said of inflation “transitory is a dirty word” as this year’s inflation surge is already lasting longer than expected.
  • Chinese thermal coal futures prices hit another record high, although have since pared early gains.
  • Hong Kong suspended schools and the stock market cancelled its Wednesday trading session as typhoon Kompasu lashed the city state.
  • Fed’s Quarles term expires today and no one will now chair the central bank’s internal committee on regulations, issues will be brought before the board based on consensus until someone new is appointed.
  • Apple will likely slash projected iPhone 13 production targets for 2021 due to the chip shortage.
  • UK GDP +0.4% in August, July revised down into contraction.

Wall Street saw the S&P 500 close down 0.2%. Asian equity markets were mixed overnight.
Earnings releases today include JPM, BlackRock and Delta Air Lines.

The Week That Will Be

On this day in 1908 Margaret Travers Symons became the first woman to speak in the House of Commons, who at the time were debating issues relating to children, she broke away from her escort, burst in to the main chamber and shouted “leave off discussing the children’s question and give votes to the women first”, or something along those lines as reports vary on the exact words used.

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