Highlight of the Week
Hong Kong airport cancels all flights amid protests
- Increasingly violent protests have caused turmoil in China’s financial hub
- “Global investors should be more concerned about the fallout in Hong Kong than US-China trade war” said Jim Cramer on CNBC
Rate Curves
Rapid Report:
Recession looming?
- Bank of America raised its chance of recession to greater than 30% in the next year
- Jobs report still shows a strong consumer, but business investment is low as owners juggle tariffs and fiscal policy uncertainty
- Recession indicators like auto sales, industrial production, aggregate hours worked, and yield curve are at levels reached right before previous recessions
Roller coaster week for market
In what should have been a positive week after the Fed rate cut, political statements on China tariffs and accusations of Chinese manipulation of the Yuan roiled the markets instead – equities took large losses and treasury yields touched historic lows as investors fled to quality
Credit card without the card
Apple, partnered with Goldman Sachs, launched its initial release of Apple Credit Card – the aim is to provide utmost security and transparency while incentivizing users to utilize Apple Pay