BETWEEN THE HEDGES: Today's Headlines

Bloomberg:

German Minister Addresses Turks as EU Reacts to Diplomatic Spat. Germany’s foreign minister penned a memo to Turks defending his government’s actions, the latest move in a diplomatic feud between the countries that also saw Germany getting support from the European Union. Sigmar Gabriel published an open letter to German Turks in both languages in Saturday’s edition of the popular Bild newspaper, saying the government “can’t just sit idly by” and has to protect its citizens after Turkey’s jailing of German human rights activists and two journalists. Meanwhile, European Union Commissioner Johannes Hahn said Ankara is on a “destructive course” and backed Germany in an interview with the newspaper Die Welt.

EU, German Regulator Studying Reports of Automaker Collusion. The European Commission and the German cartel office have received information about possible collusion among German automakers and are studying the matter, according to a statement released Saturday.

Chan Says Hong Kong May Raise 2017 Growth Estimate, RTHK Reports. The government is likely to raise its full-year growth estimate by 0.5 percentage points from the 2 percent to 3 percent forecast in its annual budget in February after reviewing data in August, Chan said.

Record S&P 500 Failing to Stem Steadiest Fund Outflow Since 2009. Even as the S&P 500 Index clawed its way to a fresh record and squeezed out a third consecutive weekly gain, signs of fading enthusiasm in U.S. stocks have become increasingly difficult to ignore. The latest can be seen in the SPDR S&P 500 Trust, the biggest exchange-traded fund tracking the U.S. equity benchmark. As of Thursday, investors had pulled $3.8 billion out of it in July. That puts the fund on pace for a fourth consecutive monthly outflow, which would be the longest streak since the start of the bull rally in 2009.

Wall Street Journal:

President Trump Shakes Up Communications Staff. Former New York hedge-fund investor Anthony Scaramucci will take over 35-person team.

Mueller and Associates. Still no collusion evidence, but investigation without limit.

Canadian Wildfires Choke Lumber Supply to U.S. Home Builders. Blazes and trade spat fuel surge in prices.

Norway Takes Lead in Race to Build Autonomous Cargo Ships. The Yara Birkeland, slated for launch late in 2018, will make short trips delivering fertilizer.

U.S. Message to China: Hands Off Our Companies. Backers of several high-profile transactions have failed to get approval amid tougher scrutiny of Chinese investment.

Republican Health Stumbles Upset Party Base. Interviews with voters and political leaders in three states raise a red flag for GOP’s midterm prospects.

Barron's: