Morning 10-8

Risk Off “ trade Theme so far today Reasons listed below:

  • U.S. placed  8 Chinese Companies on A blacklist due to human rights violations, China Said stay tuned for retaliation
  • U.S. is looking at ways to limit capital flows into China, with A  particular focus on investments made by U.S. Govt. pension funds(Bloomberg)
  • Boris Johnson’s government is preparing for Brexit talks to collapse, a move for which it will blame Ireland and European Union leaders, according to a text message from one of the prime minister’s officials reported by the Spectator magazine.
  • An estimated 40 U.S. state attorneys general will participate in a probe of Facebook Inc, a source said on Monday, suggesting many more states want allegations of anticompetitive practices at the social media company investigated.(Reuters)
  • The Caixin China services purchasing managers index slipped to 51.3 in September from 52.1 in August, Caixin Media Co. and research firm Markit said Tuesday(Reuters)
  • Samsung projects 56% fall in profit for Q3 on lower chip prices(FT)
  • China halts NBA pre-season Broadcasts after Tweet  From Rockets GM supporting Hong Kong protestors

Markets:

 Spoos off lows   down 18 handles.-.6% Nasdaq -.6% Stoxx 50 -.9 Italy’s Mib -1.1%. GBP -.6% vs Dollar, Bunds + 17 ticks with above average volume so far today. Treasuries bid and gold slightly higher.Crude -1.4% as it follows the ebb and Flows of trade talks.

Calendar:

7:30 PPI minor Importance as markets paying more attention to growth metrics then Inflation

12:30 Feds Evans

1:30 Powell speaks at the NABE conference text and Q&A

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