Latest market-sensitive news and views - Sept. 5

Economists are increasingly lowering the odds of a U.S. recession, while the global trade finance gap reaches a record $2.5 trillion, and China's property developer Country Garden avoids default. North Korean leader Kim Jong-un plans to meet with Russian President Vladimir Putin to discuss military cooperation, and economists/traders believe the Fed will maintain a cautious approach to interest rate adjustments. The scarcity of homes for sale in the U.S. leads to a surge in prices, and the issue of providing high-speed internet access to all Americans faces challenges due to high costs. The Philippines considers reducing tariffs on rice imports, and Putin announces that Russia will not rejoin the grain deal with Ukraine until its demands are met. Jill Biden tests positive for Covid-19, and a new poll indicates that voters believe President Biden is too old to run for re-election. McConnell's health and leadership ability are questioned, and there is debate about using federal funds to rebuild flood-prone infrastructure in Florida.

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8/22/2023

Putin says Russia faces big economic challenges, must keep inflation in check

Russian President Vladimir Putin has acknowledged the rising risks of inflation and has urged the government and central bank to keep the situation under control, as soaring prices could pose a threat to living standards and his upcoming re-election bid, while Russia's budget is also strained due to its military operation in Ukraine.

9/11/2023

EU, UN Denounce Russia's Actions in Ukraine; Fighting Continues in the East

The European Union condemns the "illegitimate" elections held in Russian-annexed parts of Ukraine, while a UN official says that Russia's aggression in Ukraine is synonymous with torture and inhuman cruelty; meanwhile, the Kremlin spokesperson claims that no one will be able to compete with Putin if he runs for president in 2024, and the UN Human Rights Commissioner states that Russia's withdrawal from a grain deal is fueling global food insecurity. Ukrainian forces regain control of drilling platforms near the Crimean coast and Putin arrives in Vladivostok for the Eastern Economic Forum, while South Korean media reports that Kim Jong Un is en route to Russia, and Ukraine reports advances in Bakhmut and Donetsk city. Finally, Brazil's President Lula says it's up to the judiciary whether to arrest Putin if he visits the country.

9/12/2023

Kim Jong Un Visits Putin Seeking Aid and Weapons Despite Sanctions

North Korea's Kim Jong Un meets with Russian President Vladimir Putin in hopes of securing economic aid, military technology, and munitions for Russia's war in Ukraine, while Putin seeks to replenish ammunition stores and potentially gain leverage in negotiations with the US and its allies in the conflict.

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Posted 9/5/2023, 2:33:00 PM