TOP MARKETS NEWS: Week 07/02 – 07/08

Friday 07/06

US begins trade war by hitting China with $34bn tariffs – business live – guardian
Friday Morning Briefing – Reuters

Copper’s Collapse Deepens as Trump Escalates Spat With China – Bloomberg
The dire ripple effect from a pending US-China trade war: A drop in foreign investment worldwide – cnbc

Metal Markets Are Preparing for a New World Disorder – Bloomberg

China imposes counter tariffs on U.S. products – ecns

How a trade war could turn into a recession – cnn
Deutsche Bank shares spike on report of interest from JPM and ICBC – Reuters
The 10 countries most at risk from a trade war between the US and China – businessinsider

Asia’s Worst Currency to Stabilize, Help India Bonds, Kotak Says – Bloomberg
China customs delays clearing U.S. goods as duties loom – sources – Reuters
Trump’s $500 billion trade threat makes China’s already battered investors shiver – Reuters
Trump launches $34 billion trade war and China ‘immediately’ fires back – usatoday
Slide in China Shares in Hong Kong Is Far From Over, BofAML Says – Bloomberg
The fallout in commodities from the U.S.-China Trade war: what’s at stake – Reuters
China vows to strike back as Trump’s tariffs launch ‘the largest trade war in economic history’ – businessinsider



Thursday 07/05

Business live – guardian

Trump’s Trade War Is Already Hurting U.S. Investment, Fed Says – Bloomberg
Germany Reaches 11th Hour Migrant Deal As Leaders Scramble For Austria, Hungary Cooperation – Zerohedge

FOMC Minutes Show Hawkish Fed Eying “Very Strong Economy”; Fears Tariffs, Yield Curve – Zerohedge
Credit Suisse: “Our Risk Appetite Index Is Near Panic” – Zerohedge
Commodity ETF Flows Show Investors Bracing for a Trade War – Bloomberg
US envoy offers tariff removal to German carmakers – handelsblatt
Stagflation Signals Flash Red As US Composite PMI Dips, Bucks Global Trend – Zerohedge
Private payrolls badly miss expectations, increasing by 177K in June vs. 190K estimate – cnbc
World’s Biggest Shipping Market Booms as Trade War Shrugged Off – Bloomberg
Step Aside Italy: India Is Emerging As Ground Zero Of The World’s Biggest NPL Crisis – Zerohedge
Trade war could hurt these economies far more than U.S., China – Reuters
Trade war or not, analyst Nick Colas worries that consumer spending will dangerously weaken and hurt stocks – cnbc
With Trade War Looming, Futures Spike On Report Of US-EU Auto Tariff Talks – Zerohedge

How a sliding yuan and volatile stock market have put China’s central bank in the hot seat – scmp
Glencore launches $1bn share buyback – ft
As Japan Dumps Treasuries, It’s Piling Into Riskier U.S. Assets – Bloomberg
Stocks Are Stuck on Trade and Not Even Earnings Can Unstick Them – Bloomberg
US tariffs are a ‘necessary test’ to Europe’s economic recovery, top finance chief says – cnbc
Trump on OPEC; Brexit warnings; Glencore buyback – cnn
HNA chairman Wang Jian’s death may accelerate firm’s sale of overseas assets, say analysts – scmp
Trump’s trade war could destroy 4% of global trade: ‘The threat to world growth is significant’ – businessinsider
How will investors know if there’s a full-blown trade war? Here’s what Wall Street says – Marketwatch




Wednesday 07/04

China prepares to impose tariffs on $34bn of US goods – business live – guardian

The Only Buyers Of Stock In The First Half Were Buybacks: BofA – Zerohedge
EURUSD Spikes After Report ECB Members “Uneasy” With Market’s Dovish View On Rate-Hikes – Zerohedge

U.K. Services Growth Unexpectedly Jumps as Economy Gathers Pace – Βloomberg
Hedge Funds in Europe Grow to $683 Billion as Investors Return – Bloomberg
Saudi Arabia Promised More Oil. So Why Are Prices Rising? – nyt
‘THIS COULD END VERY BADLY’: Saxo Bank warns trade tensions are likely to get significantly worse – businessinsider
Italy Asks EU for 6-Month Extension of Bad Loan Guarantees – Bloomberg
Don’t Blame Debt-Hungry Retail Investors for China’s Bear Market – wsj
China’s Central Bank Faces Policy Bind Over Debt, Growth Goals – Βloomberg
Eurozone services groups face fastest input price growth in 7 years – ft

China’s state media talks up stock market as most accurate strategist says it’s not time to buy – scmp

China Caixin Services PMI rises to four-month high – Marketwatch



Tuesday 07/03

Chinese yuan hits 11-month low amid trade war jitters – business live – guardian

These 3 airlines to suffer most from growing trade dispute, analyst says – Marketwatch
Blowback – Nasdaq Plunges After China Blocks Micron Chip Sales – Zerohedge

War Spending Rescues Factory Orders In May As Autos Collapse – Zerohedge
Factory orders rise; business spending on equipment slowing  – cnbc

China presses Europe for anti-US alliance on trade – cnbc
CAC Is A Four-Letter Word: Italian Debt – A Financial Disaster Waiting To Happen – Zerohedge
Oil hits $75 for first time since 2014 on supply outages in Libya and Canada – cnbc

S&P 500 Firms Declared Record Dividend Payouts Last Quarter – Bloomberg
Bank of England warns of Libor timebomb – telegraph
Danske Bank’s Money Laundering Tops $8 Billion, Browder Says – Bloomberg
Italy Faces Slower Growth, May Curb Deficit Cut Pace, Tria Says – Bloomberg
Turkish inflation hits 14-year high, lira slides – cnbc

The $1 Trillion Market Cap Race Is a Zero Sum Game – Bloomberg
Asian foreign exchange in tariff tantrum – ing
ECB Faces Ghost of Rate Hikes Past a Decade After 2008 Misstep – Bloomberg

Bank of America Sees a Replay of 1998 in Summer Pain Trades – Bloomberg

China issues US travel warning amid trade tensions – cnbc

Foreign-Reserve Managers Cut Yen Assets by Most in Nine Years – Bloomberg

Where next for global central banks? – ing
Vietnam Central Bank Confirms It Stands Ready To Maintain Firm Dong – Zerohedge
Chinese Bank’s Capital Almost Wiped Out as Loan Rules Tightened – Bloomberg
Xiaomi pegs Hong Kong IPO share price at HKD17, valuation shrinking to US$53.9b – krasia
Eurozone producer price inflation rate jumps to 3% in May – ft

Glencore unit receives subpoena from US Department of Justice – cnbc

Risk Returns to the FX Market – bk
China stock market: who will be the winners and losers in the escalating US-China trade row – scmp
Beijing softens tone on debt crackdown as trade tensions threaten growth – scmp

SocGen to buy Commerzbank’s equity markets and commodities arm – Reuters
Major state-owned Chinese banks seen selling dollars to support yuan: sources – Reuters
China Set for Record Defaults, and Downgrades Tip More Pain – Bloomberg

JPMorgan Warns a Trade War May Trigger China Corporate Defaults – Bloomberg

Australia Holds Rate as Currency Drop Offers Export Support – Bloomberg
China stocks and renminbi fall again as anxiety persists – ft
What a full out trade war would cost the global economy – cnbc



Monday 07/02

Tariff fears drag markets down as EU and Trump trade blows – business live – guardian

The Best And Worst Performing Assets In June, Q2 And YTD – Zerohedge
Every US-made car is an import. That’s bad news for automakers – cnn
US Manufacturing Slumps (PMI) And Jumps (ISM) But Stagflation Scares Soar – Zerohedge
Sell General Electric shares because they are still ‘significantly overvalued’: JP Morgan – cnbc

Amazon Alone Is Responsible For More Than A Third Of The S&P’s Return This Year – Zerohedge

Trump isn’t going to change his mind on trade even if the stock market keeps falling: Wilbur Ross – cnbc

Bank Deposits No Longer Off Limits as ECB Seeks Power to Freeze – Bloomberg

Mexican peso falls after leftist AMLO wins presidency in a landslide – cnbc

Investors, analysts read the yield curve … and worry about a slump – cnbc
Trade War Impact Could Be Exacerbated by a Market Slump – Bloomberg
The risk of a global recession has ‘significantly increased,’ strategist warns – cnbc

Chaos in Merkel’s coalition after Seehofer dangles resignation – Reuters
The Worst May Be Over for the Saudi Economy – Bloomberg
“It’s Not A Happy Start”: Second Half Opens With Sea Of Red Across Global Markets – Zerohedge
Eurozone factories squeezed as tariff costs compound drab demand – ft

The EU hits back at Trump’s claim it is ‘as bad as China’ — threatening $300 billion tariffs – businessinsider
Asian factories lose momentum even before Trump’s tariffs kick in – Reuters
China’s central bank has its eye on the bigger picture as it allows market forces to dictate speed of yuan declines – scmp
Key Events This Week: All Eyes On Friday – Zerohedge
China fails to attract foreign investors as US trade dispute continues to hit stocks, yuan – scmp
China stocks tumble, pushing equity valuations below 2015 market lows – scmp
It’s been another bloodbath for Chinese stocks on Monday – businessinsider
Relief for China’s markets proves short-lived as stocks slump – businesstimes
The global economy is losing momentum even before tariffs hit – businessinsider
Chinese Output rises at quickest rate for four months in June – markit
Buy-back activity among company directors at 25-year high in June as Hong Kong stocks take a hit – scmp
Fiduciary managers show ‘colossal’ spread in allocations – pensionsage
Trump’s trade policy is a rerun of a terrible 1980s policy where ‘American consumers were the biggest losers’ – businessinsider
Russia’s pension protests are a risk for the Kremlin – ft
Canada retaliatory tariffs on US goods come into force – bbc