| China halts some purchases of American farm goods. Joe Biden and Donald Trump take on the unrest gripping U.S. cities with very different approaches. Australian pension funds are set to ramp up investments into green and social initiatives. Here are some of the things people in markets are talking about today. Chinese government officials told major state-run agricultural companies to pause purchases of some American farm goods including soybeans as Beijing evaluates the ongoing escalation of tensions with the U.S. over Hong Kong, according to people familiar with the situation. State-owned traders Cofco and Sinograin were ordered to suspend purchases. Chinese buyers have also canceled an unspecified number of U.S. pork orders, one of the people said, although private companies haven't been told to halt imports. The halt is the latest sign that the hard-won trade deal forged by the world's two biggest economies in January is in jeopardy. Beijing's move eroded the risk-on sentiment that had been prevailing over markets. Asian stocks looked set to follow U.S. shares higher Tuesday as investors focused on signs of economic recovery over further U.S.-China tensions and spreading protests in America. The dollar slumped, and futures indicated gains in Tokyo, Sydney and Hong Kong. The S&P 500 saw a modest advance Monday and the tech-heavy Nasdaq Composite outperformed as a closely watched measure of U.S. manufacturing rose in May for the first time in four months, suggesting stabilization after a pandemic-driven plunge. Treasuries were little changed. Elsewhere, crude rose 0.2% and gold was little changed. As unrest continues to grip U.S. cities, Joe Biden and Donald Trump gave voters a split-screen view of the stark differences in how the two men approach a national crisis. Biden met Monday morning with pastors, local politicians and mayors, doing more listening than talking as he heard them ask for more support from national leadership to end the systemic racism that touched off a weekend of violent protests across the nation. "People are angry. I'm sure you guys are, too. I'm angry. And the fact is we need that anger, we need that to tell us to move forward," the presumptive Democratic nominee said. An hour earlier, Trump blamed U.S. governors in a private call for letting demonstrations get out of control and accused protesters of being motivated by partisan politics. "If you don't dominate, you're wasting your time," Trump said, according to an audio recording obtained by Bloomberg. "They're going to run over you, you're going to look like a bunch of jerks." Meanwhile, New York city will impose a curfew tonight from 11 p.m. to 5 a.m. as the weekend protests have led to looting and violence. Australian investments in clean energy, conservation and other initiatives that have a positive environmental or social outcome are set to rise five-fold to A$100 billion ($67 billion) in the next five years, according to a survey published Tuesday. More than 90% of respondents said their so-called impact investments had met or exceeded their return expectations, the Responsible Investment Association Australasia said in the report. On a weighted average basis, respondents indicated that their ideal allocation toward impact investments would increase to 4% of assets under management from 0.7% currently. Facebook employees became increasingly bold in expressing their dismay at CEO Mark Zuckerberg's decision not to take action on incendiary comments posted to the social network by U.S. President Donald Trump, tweeting out criticisms and staging a virtual walkout. After the president tweeted a message with the words "when the looting starts, the shooting starts" in response to protests over the death of George Floyd in Minneapolis, Twitter for the first time obscured one of his posts, marking it with a warning that it breached service rules by glorifying violence. Facebook's response to the same content, in a post from Zuckerberg on Friday, was to say, "We think people need to know if the government is planning to deploy force." But several senior figures at Facebook declared their strong disagreement online over the weekend, a rare move for employees of the company. What We've Been Reading This is what's caught our eye over the past 24 hours: And finally, here's what Tracy's interested in this morning As parts of the world start to emerge from lockdown there is lots of focus on PMI readings as an indication of whether economies are or are not bouncing back. But it's worth also remembering that PMIs measure a very particular thing, and that is the rate of change in manufacturing and services. That bears repeating after China's manufacturing and services PMIs for May both held above 50 level (which marks the difference between expansion and contraction). While that reading does indicate that the Chinese economy is heading in the right direction, it does not mean that the country's manufacturing base or services sector are anywhere close to their pre-coronavirus levels.  There's another thing that makes PMIs, in the words of Bank of America Merrill Lynch economists, "Proble-Mat-Ic." The measures tend get a boost when purchasing managers report longer delivery times. That's because having a bunch of people waiting to get their goods is typically seen as a sign of lots of pent-up demand. But of course, we aren't in typical times. And longer delivery waits in recent months have largely been due to supply chains getting messed up as part of coronavirus containment measures. In fact, BAML's economists estimate that the vast majority of national Markit manufacturing PMIs for April would have come in lower if the delivery times component had been stripped out, by an average of 5.8 points. As the BAML economists put it: "Once supply constraints ease and there has been some progress in re-opening, PMIs will again be useful indicators of economic momentum. But for now and perhaps a couple more months, they should be interpreted with a great deal of caution." You can follow Bloomberg's Tracy Alloway at @tracyalloway. The best in-depth reporting from Asia and beyond. Sign up here to get our weekly roundup in your inbox. | 
↠〖*HDvideo~〗 2020 Skyggen i mit øje PelÃcula Completa En LÃnea released 2020. story: Skyggen i mit øje PelÃcula Completa En LÃnea. ↞◬∺Skyg...
Post a Comment