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Asia's Most Aggressive Rate Hikers Have More Work Ahead
The three Asian central banks leading the region’s tightening cycle have used a spell of relative calm to take a breather on raising interest rates -- but it’s not likely to last. With the Federal Reserve set to move again, possibly in December, and more signs of escalation in the U.S.-China trade war, policy makers in India, Indonesia and the Philippines are likely to be on high alert again soon.
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Trump Spoke With China’s Xi on Trade, Says Talks Going ‘Nicely’
Donald Trump and Xi Jinping expressed optimism ahead of meeting later this month in Argentina, with the U.S. leader saying his Chinese counterpart wants to make a deal to end an escalating trade war. The leaders of the world’s two largest economies made the remarks after their first publicly disclosed telephone conversation in almost six months. Both sides reported constructive discussions on North Korea and the trade, with Chinese state media saying that Trump supported “frequent, direct communication” between the presidents and “joint efforts to prepare for” the planned meeting on the sidelines of the Group of 20 summit.
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Stocks Climb, Bond Yields Rise on Trade Deal Hopes: Markets Wrap
Stocks in Asia headed for the biggest weekly rally since April 2016 amid fresh hopes for trade talks, with that renewed risk appetite looking set to extend into European and U.S. sessions. The yen slipped and Treasury yields jumped. The boost to sentiment came after Bloomberg News reported U.S. President Donald Trump is interested in reaching an agreement on trade with Chinese President Xi Jinping at the Group of 20 nations summit in Argentina this month and has asked key U.S. officials to begin drafting potential terms.