First Pre-Market Report EVER! Important Updates.. By Gregory Mannarino
Federal Reserve policymakers increasingly divided on way ahead, minutes show
...Fed policymakers at the Sept. 17-18 meeting decided, in a 7-3 vote, to lower the benchmark overnight lending rate by a quarter percentage point to between 1.75% and 2%. “Most participants believed that a reduction of 25 basis points in the target range for the federal funds rate would be appropriate,” the Fed said in the minutes. The U.S. central bank has lowered borrowing costs twice this year after having raised interest rates nine times since 2015. But what remains unclear from the minutes is how a softening in economic data since that meeting will affect viewpoints on the need for further rate cuts, if at all... https://www.reuters.com/article/us-usa-fed-minutes-idUSKBN1WO2DP
Italy today launched new debt in US dollars instead of euros in hopes of attracting dollar investors as the euro market continues to show signs of stress. They issued USD 2.5bn 5yr, USD 2bn 10yr, and USD 2.5bn 30yr. We are in the end game now to have euro members begin issuing debt in US dollars. This is going to create further tensions between the Fed and ECB moving forward. The REPO market is still in crisis and the fears in Europe behind the curtain continue. This all puts the Fed and the ECB on a collision course. https://www.armstrongeconomics.com/international-news/europes-current-economy/italy-issuing-debt-in-dollars-not-euros/
TRUMP RIDS MAJOR U.S. CONTAINER PORT OF CHINESE COMMUNIST CONTROL
Under a long-term deal sealed by the Obama administration, a Chinese Communist company was set to control the second-busiest container port in the United States. In an unreported Trump administration victory, the Communists are out after a drawn-out national security review forced a unit of China-based COSCO Shipping Holdings Co. (Orient Overseas Container Line—OOCL) to sell the cherished container terminal business, which handles among the largest freight of imports into the U.S. It all started with a 40-year container terminal lease between the Port of Long Beach in southern California and Hong Kong. The Obama administration proudly signed the agreement in 2012 giving China control of America’s second-largest container port behind the nearby Port of Los Angeles. One of the Trump administration’s first big moves was to get the Communists out of the Port of Long Beach. After a national security review and federal intervention, the Long Beach terminal business, which handles millions of containers annually, is finally being sold to an Australian company called Macquarie Infrastructure Partners. That essentially kills China’s decades-long contract with the Obama administration... https://www.judicialwatch.org/corruption-chronicles/trump-rids-major-u-s-container-port-of-chinese-communist-control/
U.S. tariffs on China are working, says U.S. Secretary of Commerce
Ross said the United States would have preferred not to implement tariffs against Chinese goods more than a year ago, but added that it has forced Beijing into action. The trade war has weighed on global growth and roiled financial markets. “We do not love tariffs, in fact we would prefer not to use them, but after years of discussions and no action, tariffs are finally forcing China to pay attention to our concerns,” Ross told a business function held by the American Chamber of Commerce in Australia. “We could have had a deal two-and-a-half years ago without going through the whole tit-for-tat on tariffs that we have.” Ross is on an official visit to Australia... https://www.reuters.com/article/us-usa-trade-china-idUSKBN1WP06H
Factbox: Nearly all goods traded by U.S. and China will have tariffs by December 15
U.S. OCT. 15 INCREASE: A proposed Oct. 15 tariff rate boosts to 30% a duty of 25% already in place on at least $250 billion worth of Chinese imports. Set to take effect on Oct. 1, the higher tariff was delayed late in September by Trump “as a gesture of good will.” The 25% tariffs were adopted over nearly a year, from an initial tranche of largely non-consumer goods in July and August 2018, including machinery and electronic components such as semiconductors and printed circuit boards and many chemicals. Later the U.S. added consumer goods and building products, including furniture, vacuum cleaners, lighting fixtures, handbags and vinyl flooring.
U.S. DEC. 15 TARIFF INCREASE Two months later, the U.S. plans to target an additional tariff of 15% at about $300 billion in imports from China. These had already been hit with a tariff of 15% on Sept. 1, in a list mostly of consumer products, based on a Reuters analysis of 2018 U.S. Census Bureau data. It includes flat panel television sets, flash memory devices, power tools, cotton sweaters, bed linens, multifunction printers and some footwear. The largest category of targeted products covers smart watches, smart speakers, Bluetooth headphones and other internet-connected devices spared in a prior round of tariffs, with Chinese imports estimated at $17.9 billion annually by the Consumer Technology Association.
An additional round of 15% U.S. tariffs is also scheduled for Dec. 15. It targets Chinese goods not previously covered by U.S. duties and will hit the consumer technology sector hard, including cellphones, laptop and tablet computers, categories that formed a combined $80 billion of imports last year. About $12 billion worth of Chinese toy imports would also suffer. Trump has said he delayed tariffs on such products to avoid hurting Christmas season sales of Apple Inc and others.The Dec. 15 list covers about $156 billion worth of total 2018 imports from China, based on U.S. Census Bureau data, and includes a wide range of other consumer goods, from plastic tableware and light-emitting diode lamps to clothing. If fully adopted, U.S. tariffs proposed and already levied will cover virtually all imports from China, worth about $550 billion, by Dec. 15. BEIJING’S DEC. 15 RETALIATION...https://www.reuters.com/article/us-usa-trade-tariffs-factbox-idUSKBN1WP0GV
Putin on Wednesday urged his Turkish counterpart President Recep Tayyip Erdogan to “think carefully” before any offensive in Syria, the Kremlin said in a statement.
The Israeli security cabinet met for the first time in two months on Sunday for an emergency meeting on the increasing Iranian threat to the Jewish state. The meeting took place after Prime Minister Benjamin Netanyahu, during a speech for the newly inaugurated Knesset, warned that Israel is facing a “huge security challenge” that is increasing every week. The caretaker PM added that his words should be taken seriously and that he did not just want to scare the public and the media out of political considerations.
Iran launched an unannounced large military exercise near the Turkish border on Wednesday, soon after Ankara invaded Syria to confront a mostly Kurdish group, the Islamic Republic’s Tasnim News Agency reported. Turkey started its invasion of a narrow strip of Syria where the Syrian Democratic Forces [SDF] had been protected by the US until Washington announced on Sunday that it was pulling US troops out of Syria.
Prime Minister Boris Johnson will meet his Irish counterpart on Thursday in a last-ditch attempt to revive a British proposal for a Brexit deal that the European Union said falls far short of what is needed for an orderly divorce. Just three weeks before the United Kingdom is due to leave the world’s biggest trading bloc, it is still unclear on what terms it will leave
Imagine a dinner held during WWII in Nazi Germany, where Adolf Hitler gave an award to the officer who had worked the most to promote the gas chambers at Auschwitz, where millions of Jews and Gentiles met their end with a horrifically-horrifying and painful death. Imagine what the world would say about that, about giving an award for the death of others. Now open your eyes, you’re not dreaming, Hillary Clinton just received such an award at a dinner in her honor for promoting the American holocaust of abortion. It would seem that “women’s rights” do not extend to female babies in the womb.
The polio vaccine has caused an escalating outbreak of polio in the Philippines, according to the World Health Organization and UNICEF, which issued a joint statement admitting the vaccine is causing polio.