And that month. 1998, gdp growth was 6. 6 and payrolls were about 200 and 81,000. Growth not even 2 . Around 135 atng best. They will linger the possibility of additional easing. I think that will, the december meetings. David that explains why there wouldnt be a hard stop. You look the other way around, there is not a real reason to encourage more cuts either. They want to maintain the optionality around that decision. If we are in a slowing Global Growth environment and also u. S. Economic growth will top expectations, it is still decelerating relative to the first half of the year. They will likely need to take out additional insurance. As we see a hot streak in the data, we might be able to push that into the first part of next year. Given the number i have laid out for you on where we are on gdp, payrolls, fridays payroll report will not be particularly pretty. That will encourage the fed to provide a little more accommodation. The fed doesnt want to be stuck if we happen to tip i
Their impeachment inquiry. In a Public Statement led by House Intelligence Committee chairman adam schiff, key said as we move toward the new public phase of the impeachment inquiry, the American Public will begin to see for themselves the evidence that committees have collected. They go on to say the transcript of interviews with the ambassadors demonstrate clearly how President Trump approve the removal of a highly respected diplomat based on public falsehoods and smears against his character. Just moments ago, we are getting this transcript as these tales begin to trickle out. Anecdotally, i can tell you there have been problems logging on to see the transcript, potentially in illustration of how much interest there is to read these. Vonnie presumably the first david presumably the first of several coming out as they redact due to National Security issues. There were supposed to be depositions behind closed doors. Are those Going Forward . Kevin we do not know whether or not john bo
If we get a currency pact, maybe we see a weaker dollar. Time now for global exchange. We bring you todays market moving news from all around the world. From hong kong to london to washington, this mornings top stories. We start off with china. After decades of waiting, china is setting out a timetable to remove its Foreign Ownership cap on financial firms. On the phone from hong kong is bloombergs enda curran. What does this actually mean . To wind is a roadmap they can fully take over their operation in china. Theyve been pushing for this for years. It will begin next year. Its just the latest step on chinas part to attract more foreign capital into its Financial Markets, to buy more stocks and bonds, and that is a good thing for their companies. The timing is hardly coming to dental, coming in the background is hardly coincidental, coming in the background of trade talks. It remains to be seen whether and how quickly these approvals are granted to foreign firms. Alix now i want to t
Starting off the week at 1. 53 . Athave an offshore renminbi 7. 1274. One to watch because china comes back from vacation tomorrow. 107. En is firmly below guy letsguy talk about what weve got going on in europe. We have a picture of a positive of a market, which is positive equity market, which is more positive than an hour ago. I will point out volume is very light on both sides of the atlantic. The pound is down, but not by much. 1. 2321 on the cable rate. The turkish lira continuing to weaken quite sharply, now down by 1. 63 . Lets return to the middle of those three markets. U. K. Prime minister Boris Johnson a welcome boost from the courts after a scottish judge ruled in johnsons favor in a case that could force them to obey a law requiring him to obey brexit to delay brexit if you cant reach a deal. Buckley,ined by George Nomura international chief u. K. And european economist. It is a potential hard out for the u. K. On the way. The markets seem are markedly calm. Are we undere
The white house denny behind the president and also suggesting they have not lost any significant republican support. Some critics have report have emerged, including mitt romney, but largely democrats are hoping to have articles of impeachment by thanksgiving and have the vote in december or around that time frame, which means this could be settled by the end of the year. David there is also the question of subpoenas from capitol hill to the white house for various documents. I understand the white house is pushing back, saying you should have a formal inquiry of impeachment, you have to vote in the house first. Why is that important . Kevin they are continuing to say let the courts handle this. Democrats have issued subpoenas from the state department all the way to the Vice President with the various house committees there in investigating this. Is theond Point Administration feels confident this is being handled in the political realm. They do not view it as as he did get wrist out