Monday, October 23, 2017

Today's Headlines

Bloomberg:
  • Trump Says He’s ‘Very, Very Close’ to Naming Fed Chair Nominee. (video) President Donald Trump told reporters Monday he is “very, very close” to announcing his nominee for chairman of the Federal Reserve. Trump gave the timeline in answer to a reporter’s question at the start of an Oval Office meeting with Singapore Prime Minister Lee Hsien Loong, but he didn’t elaborate.
  • Pimco Sees China Refraining From Broad Deleveraging in Next Year. China’s deleveraging campaign will create pockets of pain in markets over the coming year, without curtailing borrowing to the extent that debt actually declines, according to Pimco. Pacific Investment Management Co. predicts that Chinese companies will be able to refinance most of their borrowings in the next 12 months as the authorities refrain from carrying out broad-based deleveraging. This will contribute to debt expanding faster than nominal gross domestic product, said Luke Spajic, head of portfolio management for emerging Asia at Pimco, which manages $1.7 trillion.
  • Your Evening Briefing. (video)
Wall Street Journal:

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