ASIA: Coming Up In The Asian Session On Thursday
Oct-02 21:01
| 2330GMT | 0730HKT | 1030AEDT | Singapore Sep S&P Global PMI |
| 0730GMT | 1530HKT | 1830AEDT | Hong Kong Sep Retail Sales Value |
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US: Biden And Harris To Speak At Pennsylvania Campaign Event Shortly
Sep-02 20:47
US President Joe Biden and Vice President Kamala Harris are shortly due to speak together for the first time since last month's Democratic National Convention. The event, taking place in Pittsburgh, Pennsylvania on Labor Day, is expected to focus on unions and blue collar jobs. LIVESTREAM
- Harris is expected to follow Biden's lead and publicly oppose a bid by Japanese Nippon Steel to acquire US Steel. A campaign official said Harris plans to “stress her commitment to always have the backs of American steel workers."
- CNN notes: "Representatives for US Steel and Nippon Steel declined to comment on whether the companies had briefed Vice President Harris on the deal. Under the current terms of the deal, US Steel would retain its name and Pittsburgh headquarters. Nippon has also pledged an additional $1.3 billion to refurbish two outdated mills in Pennsylvania and Indiana."
- The United Steelworkers union endorsed Harris' presidential bid on July 22, shortly after Biden withdrew from the race.
- USW International President David McCall said in a statement: “Vice President Harris has been a true partner. We look forward to continuing to work with her, and we are proud to give her our endorsement.”
- Additional analysis on the event in earlier bullet here.
CANADA: Summary Of Analyst BoC Rate Views
Sep-02 19:01
Most analysts don’t entertain 50bp cuts in their rate outlooks but Citi explicitly look for a 50bp cut in October and BMO view such a move as “very doable”.
CANADA: RBC Look For 150bp Of Cuts By Mid-2025
Sep-02 18:14
- RBC expect another 25bp cut to 4.25% after cutting in both June and July.
- “Comments from Governor Macklem will likely again err on the dovish side, continuing to emphasize a softening economic backdrop that makes it more likely that inflation will keep trending lower.”
- “CPI prints, although still important to the BoC’s consideration, are backward-looking and lag the economic backdrop that has continued to soften.”
- “Governor Macklem reinforced after the last rate cut in July that the central bank is convinced inflation will continue to drift lower even if “there could be setbacks along the way,” but July CPI data also surprised on the downside.”
- “Moving forward, the hurdle for more BoC rate cuts from what are still-elevated levels is low.” RBC assume another 150bp of cuts (including the expected September reduction) by mid-2025.
