Highlight of the Week
Flashing recession signals
- Google searches of recession have spiked since July
- Inverted yield curve as 10-year treasury note continues to bounce below 2-year
- US GDP growth sowed in Q2 as global growth remains weak
- Jobs report this Friday may be telling
Rate Curves
Rapid Report:
Hurricane Dorian dooms Bahamas, heads for Florida
After leaving 5 dead and the entire island without power, Hurricane Dorian is expected to hit Florida late Tuesday
Digital banking disruption in Singapore
- Monitory Authority of Singapore announced it will accept applications for 5 new digital licenses through year-end
- Serves as an opportunity for technology companies and non-bank lenders to challenge traditional lenders and compete for deposits from retail customers
- The trend is viewed as a win for consumers and part of a broader shift throughout Asia where more consumers are trending towards using online banking services
China’s central bank using FinTech to supervise FinTechs
- The People’s Bank of China utilizes SupTech as it continues looking towards new technologies to overlook fintech, blockchain, and digital lending markets
- Among the first central regulatory institution to ban initial coin offerings, the PBoC has also been unfriendly towards peer-to-peer digital lending
