Archives of “August 2019” month

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Air Force planes put on standby in case needed to evacuate citizens stranded in Hong Kong

  
  Analysis

The Royal Thai Air Force has put two planes and officials on standby in the event they’ll be needed to to evacuate Thai citizens stranded in Hong Kong.

Protesters have occupied passenger terminals at Hong Kong international airport for two days
RTAF readying if required should clashes between demonstrators and police intensify
  • RTAF says they have flight plans for the evacuation prepared but there may be an issue if the planes can land at Hong Kong international airport

BoA / ML assess the probability of a US recession within 12 months as one in three

  
Analysis, Economy

A bit of an ICYMI, I wanted to post this yesterday but didn’t … it seemed to have slipped through the cracks!

Probably for the best given the surging equities markets overnight ;-D
Anyway, as a catch up:
  • Bank of America / Merrill Lynch revised forecast citing the worsening uncertainty around the continuing US – China trade war
  • & the resulting slowdown in the global economy, fall in business activity
  • “Our official model has the probability of a recession over the next 12 months only pegged at about 20 per cent, but our subjective call based on the slew of data and events leads us to believe it is closer to a one-in-three chance”
Specifically worried on three of the five indicators that track business performance
  • industrial production,
  • automotive sales
  • aggregated number of hours worked
A bit of an ICYMI, I wanted to post this yesterday but didn't … it seemed to have slipped through the cracks!

US Indices cheer US tariff delays

  
Analysis, US Market

Major indices close with solid gains

The US stock indices cheered Pres. Trumps decision to delay US tariffs on certain consumer items until December 15, while other products were being removed from the tariff list altogether. The administration cited health and security factors.

Pres Trump also said that delaying tariffs ahead of the Christmas season was to avoid an impact on holiday shopping.  He also said that the delays “helped a lot of people”
The decision helped the stock indices as they all closed with solid gains.
The final numbers are showing:
  • The S&P index closed up 43.24 points or 1.50% at 2926.33. The high extended to 2943.31 with the low reaching 2877.05. At the high the index was up 2.09%
  • The Nasdaq index rose 152.94 points or 1.95% at 8016.36. The high reached 8065.24 while the low extended to 7851.58. At the high the index was up 2.57%.
  • The Dow rose 382.20 points or 1.48% at 26279.91.  The high reached 26426.97, while the low extended to 25833.25. At the high the index was up 2.01%.
The chart below shows the % high, low and close changes for the day for North American and European indices.  The US indices were down early in the day but got the boost on the tariff news headlines and moved higher. European indices also rose on the day.

Reports of a police operation getting underway at Hong Kong airport

  
  Analysis

Police in riot gear gathering outside

I can’t help but think that Hong Kong was a factor in whatever deal China and the US just reached. The White House statement saying that it was a China-Hong Kong issue yesterday seems even more curious given the news today.
CNN reports:
Protesters at the Hong Kong international airport are now attempting to block the police buses outside of the airport, CNN teams on the ground report. Police in riot gear are outside the airport entrance as well.
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