Tuesday, October 8

ByKevin Sheekey

Reader Note:  Check out the “live edition” of my newsletter all day long at SheekeyDaily.com.  

China Says ‘Stay Tuned’ for Retaliation Over U.S. Tech Blacklist (Bloomberg)

“We urge the U.S. side to immediately correct its mistake, withdraw the relevant decision and stop interfering in China’s internal affairs,” foreign ministry spokesman Geng Shuang told reporters in Beijing.

White House Zeroes In on Limiting Chinese Stocks in Pension Funds, Restricting Capital Flows Into China (Bloomberg)

The Trump administration is moving ahead with discussions around possible restrictions on portfolio flows into China, with a particular focus on investments made by U.S. government pension funds, people familiar with the internal deliberations said.

Hong Kong Exchange Unexpectedly Abandons Bid for London Stock Exchange (Bloomberg)

The withdrawal leaves LSE free to pursue its $27 billion takeover of Refinitiv, taking the 300-year-old bourse further away from a traditional exchange model and deeper into big data.

Brexit Countdown – 23 Days Away.

Boris Johnson Tells Angela Merkel a Brexit Deal Essentially Impossible (Bloomberg)

The call between the leaders, at 8 a.m. Tuesday, came after a text message from one of the prime minister’s officials, reported by the Spectator magazine, said his government is preparing for talks to collapse.

From Bloomberg Invest London: Societe Generale Chairman Warns a Hard Brexit Risks a Global Recession (Bloomberg)

U.S. Withdrawal from Northern Syria.

Media Watch.

Poll Watch.

Majority of Americans Now Say They Endorse Opening of Impeachment Inquiry of Trump – Poll (Washington Post)

By a margin of 58 percent to 38 percent, Americans say the House was correct to undertake the inquiry, indicating that public opinion has shifted quickly in favor of impeachment.

Among all adults, 49 percent say they support impeachment and removal from office.

2020 Polls from Hindsight 2020:

Fox News Poll – Wisconsin Democratic Primary:
Biden 28
Warren 22
Sanders 17
Buttigieg 7
Harris 5

Fox News Poll – Wisconsin General Election
Biden 48 – Trump 39
Sanders 45 – Trump 40
Warren 45 – Trump 41

Financial and Economic News.

Kicking Into High Gear: Hedge Funds Post the Best Performance This Year Since 2013 (Bloomberg)

Hedge Funds gained 4.9% on average in the first three quarters of 2019, the best performance in this span since 2013, according to a report Monday from Hedge Fund Research. Equity strategies are leading the gains, followed by event-driven on an asset-weighted basis.

Deutsche Bank Plans About Half of 18,000 Job Cuts in Germany (Bloomberg)

U.S. Federal Deficit Widens: Estimated at $984B, Highest in Seven Years (The Hill)

Climate News.

A Week of Climate Demonstrations: Extinction Rebellion Protesters Douse Wall Street Bull with Fake Blood (New York Times)

Climate Finance: Pepsi’s $1B Sustainable Bond Sale to Fund Eco-Friendly Plastics, Packaging and Cleaner Transportation (Bloomberg)

The Greening of Paris Makes Its Mayor a Few Enemies as Hidalgo Aims for 600 Miles of Bike Lanes (New York Times)

Visitors and residents can now glide for miles along the river banks on a bike, protected from the cars by granite separators, or all the way across the city, from Concorde to Bastille, beating the gridlocked traffic. As monotonous green-gray metal separators, shielding the projects, have sprouted across Paris, the inconveniences have been accompanied by groans from motorists.

Mayor Anne Hidalgo is aiming for more than 600 miles of bike lanes by next year, up from around 400 when she started.

Today in Health.

Future of Transportation.

The First ‘Vertiport’: A U.K. Company Is Building a Hub for Flying Taxis in Singapore (Bloomberg)

Electric aircraft are coming to cities around the world. First they need somewhere to land.

Dining Section.

The New Michelin Guide: Dining in the U.K. and Ireland Is the Best It Has Ever Been (Bloomberg)

London gets a new Michelin 3-Star restaurant, as the guide hands out a record number of stars to a total 187 establishments in its new 2020 guide—including Lecture Room & Library at Sketch in London’s Mayfair.

Best of late night.

“Happy Birthday to reality TV judge Simon Cowell who turned either 48…or 70? There’s no way to know.”
— Seth Meyers

“Instagram this week will be removing the ability to see the recent like and comment history of other users. Meanwhile, Facebook is going to start posting your credit card numbers and home address.”
— Seth Meyers

“Officials in North Carolina have announced that a recent outbreak of Legionnaire’s disease was most likely caused by a hot tub at the state fair. So, if you got into a hot tub at a state fair, Legionnaire’s is probably the least of your worries.”
— Seth Meyers

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