TOP MARKETS NEWS: Week 08/27 – 09/02

Weekend 09/01 & 09/02

Peso Set To Disintegrate After IMF Tells Argentina To Stop Supporting Currency – Zerohedge
The Swedish Election Could Get Very Messy: Here’s Why – Zerohedge
Argentina turmoil batters big names in bond market – ft
World Stocks Have Underperformed The US By The Most Since The Financial Crisis – Zerohedge
Illinois Breaks Pension-Debt Record For US States – Zerohedge
“No Sign Of The Petro Here”: Mystery And Confusion Besets Venezuela’s Crypto “Revolution” – Zerohedge
“Massive Buying Of Deflation Winners”: Traders Position For End Of Rate Hikes – Zerohedge
Italy, after Fitch cuts outlook, vows to respect EU commitments – Reuters



Friday 08/31

Whitbread sells Costa Coffee to Coca-Cola for £3.9bn – business live – guardian

Fitch cuts Italy’s credit outlook on debt and governance concerns – ft
UMich Economic Conditions Worst Since Election As Spending Plans Plunge – Zerohedge
Chicago PMI Beats Expectations As ‘Soft’ Surveys Shrug Off Dismal ‘Hard’ Data – Zerohedge
5 big victims of the meltdown in emerging markets – cnn
BOJ Bond Buying Tweak Sparks Fears Of Imminent Tapering – Zerohedge
India Shrugs Off Trade Wars With World-Beating 8.2% Growth – Bloomberg
Coca-Cola’s Costa Coffee deal doesn’t appear cheap – Marketwatch

Argentina’s peso has now fallen a staggering 108% against the dollar so far this year – cnbc

The EU warns May that a Brexit breakthrough is still ‘a long way off’ – businessinsider

Lira rallies sharply after Turkey’s latest move to shore up currency – ft

China’s manufacturing index rebounds in August – Marketwatch



Thursday 08/30

Pound boosted by Barnier’s Brexit hint – business live – guardian

Trump Says EU Offer for No Auto Tariffs Is ‘Not Good Enough’ – Bloomberg
Robots Are Crushing Humans: Passive Funds Control A Record 44% Of The US Stock Market – Zerohedge
Trump To Launch Another $200BN In China Tariffs As Soon As Next Week: Stocks Tumble – Zerohedge
Cronos stock plunges 30% after Citron short call, report of Trump anti-marijuana effort – Marketwatch
Emerging Markets Turbulence Spreads to Argentina – nyt
Argentina hikes interest rate to 60% in failed effort to stem peso plunge – Marketwatch

Argentine Peso Collapse Accelerates As Macri’s IMF Begging Backfires – Zerohedge
Greece’s debts are not the problem, it is the state’s inability to reform – thetimes
Fed’s Preferred Inflation Indicator Jumps To 6 Year Highs, Reaches Mandate – Zerohedge

urope’s bank bosses all want the same thing — fewer banks – cnbc
EU Willing To Scrap Car Tariffs In US Trade Deal: Politico – Zerohedge
Fitch Ratings: Lira Depreciation Heightens Risks to Turkish Banks – fitch

German Unemployment Drops Further as Firms Signal Optimism – Bloomberg
India’s rupee falls to an all-time low – cnbc



Wednesday 08/29

US economy grows more strongly than expected in second quarter – business live – guardian

Transfer of Türk Telekom’s majority stake to banks approved by Turkish gov’t – hurriyet
Venezuela to swap defaulted bonds for oil – argusmedia

Short Bets on World’s Biggest Tech Stocks Surge to $37 Billion – Bloomberg
U.S. Corporate Profits Soared in Second Quarter, Boosted by Tax Cuts and Economic Growth – wsj




Tuesday 08/28

Markets welcome Trump’s new US-Mexico trade deal – business live – guardian

Inventory Surge Signals Good Start For Q3 GDP – Zerohedge
Europe’s banking union lacks the key element of deposit insurance – ft
Stocks say China’s economy is in bad shape. Steel prices tell a very different story – cnbc

Cryptos are surging and part of the rally is linked to a rollout of Dash on Venezuelan smartphones – businessinsider

Daily Briefing: Hardliner summit – Reuters

Argentina finds it harder to stick to IMF bailout plan – ft



Monday 08/27

World Bank, CBA Launches First ‘Bondi’ Blockchain-Backed Bond – Zerohedge
US and Mexico reach a trade deal, paving the way to replace NAFTA – cnbc
Berkshire Hathaway reportedly in talks to buy a stake in India’s largest digital payments company – cnbc
Mohamed El-Erian sees a 60% chance that Trump’s hard line with China and Europe yields ‘fairer trade’ – cnbc
Jackson Hole half-life likely limited – saxo

German Business Sentiment Rose for First Time in Nine Months – Bloomberg

Italian banks face high-risk choice over domestic debt – Reuters
Key Events In The Coming Week: Inflation And GDP – Zerohedge
US-China trade war is poised to intensify: ‘Both sides think they have the upper hand’ – cnbc

Yuan at two-and-a-half week high as China signals support, revives fix factor – Reuters
Greece’s “Bailout” Was a Disaster for Greece – barrons