Overseas Headlines- January 20, 2020

January 20, 2020

United States:

Trump’s Former Economic Chief Gary Cohn Predicts No Recession

“Former White House economic director Gary Cohn said he sees no recession on the horizon and predicted that the economy will continue to grow as the U.S. heads into this year’s presidential election. The ex-Goldman Sachs Group Inc. president, appearing on CBS’s “Face the Nation,” also praised the Federal Reserve, saying it has U.S. interest rates “in a good place.” That opinion isn’t shared by his old boss, President Donald Trump, who has relentlessly criticized the central bank for not cutting rates more aggressively.”



As EU Raises Brexit Trade Hurdles, Boris Johnson Looks to Africa

“Prime Minister Boris Johnson hailed the U.K.’s burgeoning trade links with Africa as “the future” in a thinly disguised warning to the European Union ahead of the start of new negotiations with the bloc. In recent days, EU officials have told Johnson they won’t give him the sweeping free trade deal he wants unless he extends his deadline beyond the end of this year and agrees to strict conditions to retain key single market rules.”



Moody’s Downgrades Hong Kong Rating Amid Political Turmoil

“Moody’s Investors Service lowered Hong Kong’s rating as a long-term issuer of debt by one notch on Monday, just months after Fitch Ratings took a similar action amid political protests. Moody’s cited a degree of “inertia” characterizing the legislative and executive branches of government in the statement, as it lowered the rating to Aa3 from Aa2. The ratings agency also changed the outlook to “stable” from “negative.” ”


Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer(s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view(s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.