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Policy Daily Review August 15, 2018

Policy Daily Review for August 15, 2018 India Trade Deficit Government registered at $18.02B above expectations ($15.5B) in July India Trade Deficit Government registered at $18.02B above expectations ($15.5B) in July   German Chancellor Merkel: Conditions not right for European finance minister German Chancellor, Angela Merkel was out on the wires in the last hour, saying that Euro-zone finance ministers would need an extra budget and own par   China NDRC: China will maintain prudent monetary policy More comments crossed the wires from the Chinese state planner, the National Development…

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News Regulators 

Credit collections have plunged after agency settlement with states, new study finds

“The number of collections accounts reported also dropped substantially, from more than 66 million collections accounts to about 47 million” writes D C for marketwatch.com. Among other things, credit-reporting agencies have to more frequently and accurately report collections as well as remove some medical bills.A third had some kind of delinquency in their credit accounts, compared to only 8% of everyone else.For one, the population that was impacted by these changes had lower credit scores to begin with.There’s been a plunge in the number of collections accounts after changes imposed…

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Policy Daily Review August 14, 2018

Policy Daily Review for August 14, 2018 Turkish finance minister to hold investor call on Thursday – Reuters Citing sources familiar with the matter, Reuters recently reported that the Turkish finance minister will hold an investor call on Thursday. There was   G10 Model: Policy uncertainty rising, September risks elevated, China financial conditions easing – Westpac Richard Franulovich, Head of FX Strategy, updated their Model signals whereby their model undertakes a major overhaul of its exposures to the majors;   Seed-To-Sale Tracking And Compliance: If Coffee Was Regulated Like Cannabis…

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Wall Street should brace for fewer rate hikes, bullish bank analyst Dick Bove says 

“Veteran bank analyst Richard Bove is dissenting from the Wall Street consensus over interest rate hikes” writes unknown author for cnbc.com. Since Trump appoints Fed board members, central bank policymakers won’t want to disappoint him, according to Bove. “If the Fed backs off, as I’m assuming that they will, then the margins of the banks will stay relatively high,” Bove said. Source: cnbc.com Share This:

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A Trump-appointed judge supported Mueller’s authority in the special counsel’s case against a Russian consulting company

“By investigating and prosecuting Concord, the Special Counsel did not exceed his authority,” Friedrich wrote in her opinion” writes Susan Heavey for businessinsider.com. Friedrich ruled that US Supreme Court and circuit court rulings made clear Rosenstein did have statutory authority to bring in Mueller.Judge Dabney Friedrich, in an opinion filed in the US District court for the District of Columbia, rejected Concord Management and Consulting LLC’s argument that Mueller was unlawfully appointed and lacked prosecutorial authority.WASHINGTON (Reuters) – A US judge on Monday refused to dismiss charges against a Russian…

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Policy Daily Review August 13, 2018

Policy Daily Review for August 13, 2018 United States CFTC Gold NC net positions: $12.7K vs previous $35.3K United States CFTC Gold NC net positions: $12.7K vs previous $35.3K   United States CFTC Oil NC net positions down to 608.9K from previous 613.4K United States CFTC Oil NC net positions down to 608.9K from previous 613.4K   Australia CFTC AUD NC net positions: $-54.5K vs previous $-51.5K Australia CFTC AUD NC net positions: $-54.5K vs previous $-51.5K   U.S. government bonds yields retreat after CPI U.s. government bonds on Friday…

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Policy Daily Review August 10, 2018

Policy Daily Review for August 10, 2018 AUD/JPY unmoved just above 81.50 following bland RBA Policy Statement The AUD/JPY is trading into 81.70 following the Reserve Bank of Australia’s (RBA) Statement of Monetary Policy, which saw little new information for t   Euro’s declines continue on ECB comments and ITaly The euro is in decline following ECB comments that US tariffs and increased risk of further protectionism is likely to leave its mark on global growth. In its economic bulletin the ECB also added that despite the rising risks globally,…

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Markets News Regulators Stocks 

U.S. bonds rally and global stocks tumble as ECB raises questions about Turkey contagion

“Inflation is a key data point for fixed-income investors because rising inflation can erode the fixed value of debt instruments” writes Mark Decambre for marketwatch.com. Also, rising inflation can cause the Federal Reserve to act more promptly in trying to normalize interest-rate policy to combat out-of-control rising prices and inflation.The 30-year bond yield TMUBMUSD30Y, -1.20%  shed 3.3 basis points to 3.048%, after its sharpest yield decline in a day since June 27.The two-year note yield TMUBMUSD02Y, -0.62% gave up 1.7 basis points to 2.633%, following its biggest daily yield drop…

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