January 06, 2020
Morgan Stanley Says Economy Can’t Promise Trump Re-Election
“Investors should be careful about assuming that strong U.S. economic conditions guarantee that President Donald Trump will win another term in November, Morgan Stanley strategists warned. “The most common misconception among investors we talk to is that solid economic growth assures the president’s re-election,” strategists at the Wall Street bank including Michael Zezas wrote in a note Monday. “Our take: be reactive, not proactive, and let plausible policy paths guide you” with regard to the campaign, they said.”
U.K. Services Get Boost From Election as New Orders Increase
“The U.K.’s dominant services sector showed signs of strengthening at the end of the year following Boris Johnson’s decisive election victory. New orders rose at their fastest pace in five months, IHS Markit said Monday, with anecdotal evidence suggesting that the easing of domestic political uncertainty played a key role. The uptick left services activity with an index reading of 50 in December, up from a flash estimate of 49 that was compiled only using data from before the Dec. 12 vote. The composite measure reached 49.3 from a previous estimate of 48.5. The pound rose after the figures were published and was trading at $1.31 as of 9:45 a.m. in London.”
China Plans to Send Team to U.S. for Jan. 15 Deal Signing
“The Chinese trade delegation plans to sign the first phase of its trade deal with the U.S. in Washington on Jan. 15, according to people familiar with the matter. The plan is still to send its top negotiator, Vice Premier Liu He, to ink the deal, said the people, who asked not to be identified discussing the private plans. The team will be in Washington from Jan. 13 to Jan. 15, one of the people said. The South China Morning Post earlier reported the dates. The group had originally aimed to travel earlier in the month, but had to alter its plans after U.S. President Donald Trump sent a tweet saying the deal would be signed Jan. 15 at the White House, according to the SCMP.”
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