Overseas Headlines – July 22, 2020

United States:

Trump Nominee Judy Shelton Moves a Big Step Closer to Joining Fed Board

“Judy Shelton, President Donald Trump’s contentious pick for the Federal Reserve’s Board of Governors, cleared a key hurdle to confirmation by winning the approval of a majority on the Senate Banking Committee. She was backed in a party-line vote Tuesday, 13-12. The committee also voted in favor of Fed nominee Christopher Waller, currently director of research at the St. Louis Fed. His nomination passed 18-7.”



EU’s Rescue Gives Italy a Fillip Even If Money Takes Longer

“Just days before the depth of Europe’s virus-induced economic plunge will be revealed, the region’s leaders may have cemented the foundations of a recovery. The 750 billion-euro ($865 billion) stimulus agreed on Tuesday could take many months to start arriving in the continent’s worst-affected economies, but the assurance it shows to investors on the European Union’s common resolve is already aid in itself.”



Japan Lifts View of Economy Again, But Says Situation Still Grim

“Japan’s government upgraded its assessment of the economy in July for a second month, saying conditions are picking up even as they remain severe amid reopening from coronavirus shutdowns. In its monthly report released Wednesday, the Cabinet Office said it saw improvement in 6 out of 14 economic categories, including consumer spending, exports, production and public investment.”



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.