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Central-Bank Governor Dashes Bailout Hopes for India’s Struggling Shadow Lenders
(Bloomberg)-20/09/2019. The Reserve Bank of India would prefer a market-led resolution to the nation’s simmering shadow banking crisis, Governor Shaktikanta Das said, dashing hopes for bailouts in the struggling sector.
In Markets Tussle with Central Banks, Neutral is the New Hawkish
(Bloomberg)-20/09/2019. Global investors are urging central bankers further and further down the monetary stimulus road, but they can’t drag them all the way.
Sanctions-hit Jammal Trust Bank self-liquidated: BDL
(The Daily Star)-20/09/2019. Central Bank Gov. Riad Salameh agreed to sanctions-hit Jammal Trust Bank’s request for self-liquidation, in a statement released Thursday.
Lebanon needs more than mere talk of Saudi aid to exit debt trap
(The Daily Star)-20/09/2019. A rally in Lebanon’s Eurobonds will prove short-lived if the country’s government can’t get serious about reforms that are needed to claim Saudi Arabian aid.
Upbeat data suggest U.S. economy still on moderate growth path
(Reuters)-20/09/2019. The number of Americans filing applications for unemployment benefits increased less than expected last week, pointing to strong labor market conditions that should continue to support an economy growing at a moderate pace.
Explainer: Abe, Trump head for trade deal; auto tariffs a sticking point
(Reuters)-20/09/2019. U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe are expected to clinch a deal on farm tariffs and digital trade when they meet in New York next week.
Real crunch from Saudi Arabia's oil outage has yet to be felt
(Reuters)-20/09/2019. Saudi Arabia’s ability to avert a global oil supply crunch will only become clear in a few weeks, because for now its crude held in storage can fill the gap and mask the scale of damage to its facilities, traders and analysts say.
Lebanon intends to issue $2B in Eurobonds with interest rates 'much lower' than 14 pct: finance minister
(The Daily Star)-19/09/2019. Lebanon intends to issue $2 billion in Eurobonds with interest rates below 14 percent, Finance Minister Ali Hasan Khalil said Wednesday.
Fed cuts interest rates, signals holding pattern for now
(Reuters)-19/09/2019. The U.S. Federal Reserve cut interest rates again on Wednesday to help sustain a record-long economic expansion but signaled a higher bar to further reductions in borrowing costs, eliciting a fast and sharp rebuke from President Donald Trump.
Saudi Arabia draws down oil stocks to maintain supply
(The Daily Star)-19/09/2019. Saudi Arabia will try to maintain oil supplies to its major customers by drawing down crude stored at tank farms in the kingdom and in its global network while repairing and replacing installations damaged in the recent attacks.
Asian shares decline on guarded Fed, yen rises after BOJ holds fire
(Reuters)-19/09/2019. Asian shares extended declines on Thursday after the U.S. Federal Reserve signaled a higher bar to further easings, while the Bank of Japan also held off from offering more stimulus as some had hoped.
Deutsche Bank has discussed adding assets to bad bank if sales go well
(Reuters)-19/09/2019. Some senior Deutsche Bank AG (DBKGn.DE) officials have discussed the possibility of putting additional problematic assets worth billions of euros into a unit it created earlier this year, if the bank is able to sell assets already held within that “bad bank,” according to three bank sources.
Powell the ‘Artful Dodger’ Declines to Signal What Comes Next
(Bloomberg)-19/09/2019. Federal Reserve Chairman Jerome Powell doesn’t like to show his hand, either to guide investors or to chart a path for a divided group of policy makers under his leadership.
Oil Steadies as Saudis Pledge Swift Return of Lost Production
(Bloomberg)-19/09/2019. Oil held its decline from the dramatic spike earlier in the week as supply assurances from Saudi Arabia and the International Energy Agency calmed the market after the devastating weekend attacks.
U.S. Futures Dip, Yen Rises Most in Four Weeks: Markets Wrap
(Bloomberg)-19/09/2019. U.S. stocks closed near session highs Wednesday amid light trading as investors awaited new developments in the increasingly unpredictable Sino-American trade war. Ten-year Treasury yields held steady after hitting a three-year low, while the dollar edged higher.
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UAB Magazine - Issue 464 July 2019