Daily Archives: Oct 8, 2018

    Трейдер на фондовой бирже в Нью-Йорке. 12 мая 2015 года. Фондовые рынки США завершили торги вторника разнонаправленно, а индекс S&P 500 незначительно поднялся после трехдневного падения благодаря акциям финансовых компаний и производителей потребительских товаров. REUTERS/Brendan McDermid

    LONDON (Reuters) – European markets fell on Monday as investor confidence took a knock from last week’s spike in Treasury yields and from a Chinese market slump brought on by concern that an escalating trade war with the United States could curb China’s growth.

    Chinese markets re-opened after a week’s holiday, and stocks recorded their biggest one-day drop since February, with the Shanghai-Shenzhen CSI300 down more than 4 percent for only the second time in more than 2 1/2 years.

    This helped set the tone for the European open and stock markets fell with the pan-European index down 0.8 percent and Germany’s DAX 0.8 percent lower.

    The MSCI world equity index, which tracks shares in 47 countries, fell 0.35 percent.

    The fall in global equities boosted demand for the dollar as investors rushed for safety. Against a basket of its rivals the U.S. currency rose 0.3 percent, edging towards a 14-month high hit in mid-August.

    Investor fears of higher U.S. interest rates, global protectionism, emerging market weakness and an Italian budget row have all combined to send equities sharply into the red in October, with world stocks down more than 2 percent already.

    “Europe is stuck between China and the US, it is feeling the heat from draining dollar liquidity and the continued anti-trade rhetoric,” said Talib Sheikh, manager of the Jupiter Flexible Income Fund.

    “We don’t think this is a dip to be buying across the eurozone. Nothing there looks desperately appealing, and if the macro headwinds don’t look to abate, further cheapening of valuations looks to be warranted.”

    The dark mood in China sent shivers across Asian markets and will add to investors nervousness — the MSCI benchmark emerging markets equity index dropped 0.8 percent to its lowest level since May 2017 and is now down 5.5 percent in October, the biggest monthly loss since January 2016.

    Growth concerns led the People’s Bank of China (PBOC) on Sunday to cut the level of cash that banks must hold as reserves, aimed at lowering financing costs as policymakers worry about the fallout from the tariff row with the United States.

    “China just cut reserve requirement ratios and expanded monetary policy, which is a response to the fact that China’s economy is slowing down, but the market doesn’t believe there is enough stimulus to cut the slowdown,” said Guillermo Felices, a senior strategist at BNP Paribas Asset Management, calling the current concerns markets face a “powerful cocktail”.

    “They’ve injected more liquidity into the market to contain the slowdown, which has already translated into weaker equity prices.”

    The Chinese slide comes after U.S. Treasury yields hit seven-year highs on Friday, following data that signaled a continued tightening of the labor market and increased inflationary pressures – adding to the reasons for the U.S. Federal Reserve to continue with its hiking cycle.

    Diverging monetary policy between Beijing and Washington pushed the offshore yuan to its lowest since mid-August at 6.937 against the dollar.

    Brazil outperformed other emerging markets on Monday after far-right former army captain Jair Bolsonaro won nearly half the votes in the first round of presidential elections on Sunday.

    London-listed Brazilian ETFs were up 6-7 percent, while the real was forecast to open stronger.

    U.S. trading is likely to be muted on Monday, with markets closed for Columbus Day.

    ITALY UNDER PRESSURE

    Renewed concerns over Italy’s budget also added to the risk-off tone in European equities. The FTSE MIB skidded 2.3 percent to its lowest since 21 April 2017, as government bonds yields hit new highs, putting pressure on bank shares.

    The European Commission has told Italy it is concerned about its budget deficit plans for the next three years since they breach what the EU asked the country to do in July, but Rome insisted on Saturday it would “not retreat” from its spending plans.

    Italy’s 10-year government bond hit four-and-a-half-year highs on Monday IT10YT=RR, and its spread over Germany reached 309 basis points, its widest in five years. As a result, the euro fell 0.44 percent to $1.1469, close to its lowest since Aug, 20.

    Germany’s 10-year government bond, the benchmark for the region, remains close to four-month highs at 0.559 percent.

    Oil dropped back to $82.93 per barrel after Washington said it may grant waivers to sanctions against Iran’s oil exports next month, and as Saudi Arabia was said to be replacing any potential shortfall from Iran.

    For Reuters Live Markets blog on European and UK stock markets open a news window on Reuters Eikon by pressing F9 and type in ‘Live Markets’ in the search bar

    Reporting by Virginia Furness, additional reporting by Andrew Galbraith; editing by Larry King

      SPOTSYLVANIA, Virginia (Reuters) – The last time U.S. congressional elections were held in this central Virginia district, Meg Sneed voted for the Republican incumbent, Representative Dave Brat. Her friend, Cheryll Lesser, did not vote at all.

      Last week, the two women sat in the second row at a campaign event in a martial arts’ studio listening to the Democrat running against Brat, Abigail Spanberger. They nodded in agreement with much of what she had to say.

      But the real reason they were there was basic: Donald Trump. They don’t like the president, and they weren’t about to vote for anyone, like Brat, who supports him.

      “More than the policy, it’s the animosity he is fostering within the country,” Sneed said of Trump.

      Voters such as Sneed and Lesser are a significant reason why Democrats now believe that in the Nov. 6 congressional midterm elections, the party can win more than the 23 seats they need to seize control of the U.S. House of Representatives. Some predict Democrats could take as many as 40 seats by flipping districts like Brat’s in Virginia.

      Earlier this year, Brat’s seat was considered safe. But if a so-called “blue wave” materializes, it would roll through a district like his, which includes pockets of suburban voters who increasingly have been turning away from Republicans.

      “Republicans are playing defense in more and more places,” said Doug Heye, a former official at the Republican National Committee. “The Democrats’ map continues to get bigger. The Republicans’ map continues to get smaller. That’s a real problem.”

      Democrats have poured resources not only into Brat’s district, but others that have come onto their battleground list, in places such as Pennsylvania, North Carolina, Southern California and other parts of Virginia such as the district currently represented by Republican Scott Taylor.

      They have been backed in the effort in Virginia by deep-pocketed advocacy groups such as House Majority PAC, which started running anti-Brat television ads last month, and NextGen, funded by California billionaire Tom Steyer, which decided this summer to launch efforts to turn out young voters in the district.

      In response, the Congressional Leadership Fund, a Republican political-action committee, is running ads attacking Spanberger, a sign that the party is genuinely worried about losing the seat.

      “IN MY GRILLE”

      Brat is a high-value Democratic target for several reasons.

      In 2014, he shocked the political order by beating then-House Majority Leader Eric Cantor in a Republican primary. Since taking office, he has aligned himself with the ultra-conservative Freedom Caucus, which has become a reliable ally of the Trump White House.

      Last year, as protesters crashed his events in the midst of a House push to repeal former President Barack Obama’s healthcare program, Brat remarked that “women are in my grille no matter where I go.”

      Those words have followed him ever since.

      In September, Brat held his first town hall in a year and did so with supportive audience of older veterans.

      Sarah Montgomery, a librarian for the U.S. Department of Defense who attended Spanberger’s event in Spotsylvania, said that after Brat’s district was re-drawn in 2016 to include her home, she researched him, and the video of his “grille” remark was the first thing she found.

      “He obviously has no respect for women,” she said.

      The firestorm over Supreme Court nominee Brett Kavanaugh, who was accused of sexual assault while in high school, came at a perilous moment for Brat, given his already difficult reputation with some women voters.

      Trump has played a part. Both Sneed and Lesser were angry that he chose to attack Kavanaugh’s accuser, Christine Blasey Ford, at a rally last week.

      “It was disgusting,” Lesser said.

      Kavanaugh was confirmed by the U.S. Senate on Saturday. Democratic activists hope discontent with his nomination will linger through November.

      Republicans, however, see the Kavanaugh fracas as galvanizing conservatives who have been looking for a reason to come out and vote in November’s elections.

      “It has mobilized and energized Republican voters in a way that only a Supreme Court nomination can,” said Matt Gorman, communications director for the National Republican Congressional Committee, the arm of the party that supports House candidates like Brat.

      Brat has been a solid supporter of Kavanaugh, even though the House served no role in his nomination, and reasserted that support last week in a Facebook post.

      His campaign rejected the notion that he is not supportive of women, pointing to his efforts to combat human trafficking and the opioid epidemic and the passage of tax reform last year.

      “Congressman Brat has worked hard on issues affecting women since day one,” said a spokesperson, Katey Price.

      A MODERATE TONE

      A 39-year-old former officer for the Central Intelligence Agency, Spanberger looks like she could be the face of the Resistance, the woman-driven protest movement against Trump.

      But she has been careful to not alienate the independent and moderate voters she needs to win the district. At the Spotsylvania event, she didn’t mention Trump, Brat or Kavanaugh, focusing on domestic-policy issues such as healthcare and education.

      Asked for her position on Kavanaugh’s nomination, her campaign declined to comment.

      Instead, Spanberger touched on the thing that attracted voters such as Meg Sneed to her: turning down the volume in the civic discourse.

      “We’ve reached a place where we need to restore a level of civility to our conversations,” she told the crowd.

      Tom Davis, a former Republican congressman from Virginia, said it remains Brat’s race to win, and that Kavanaugh may be the issue that pulls him over the finish line.

      “It’s still a southern district,” Davis said. “There’s nothing like a good fight to keep your base in line.”

      Editing by Jason Szep and Cynthia Osterman

      Mayor Byron Brown and The Buffalo Common Council in collaboration with the Buffalo & Erie County Public Library cordially invite you to attend…

      The Isaías González-Soto Branch Library

      Dedication Ceremony and Celebration

       

      Monday, October 15th, 2018 at 5:00 p.m.

      280 Porter Avenue (corner of Niagara Street)

      Dedication Ceremony and Ribbon-Cutting

       Entertainment and Light Refreshments

      Bilingual Family Story-time

      The Buffalo Bills pulled off another upset on Sunday afternoon, defeating the Tennessee Titansby a score of 13-12 at New Era Field. Stephen Hauschka was the hero for the Bills, connecting on a 46-yard field goal to win the game as time expired. Today’s links has all of the coverage from Sunday’s win, with updates from Lorenzo Alexander, Jerry Hughes, Josh Allen, and much more.

      Hauschka: “It was a Huge Victory for the Team” – BuffaloBills.com
      Bills kicker Stephen Hauschka spoke to the media following the team’s win against the Titans. Hauschka spoke about making the game winning field goal and what was going through his head as he prepared for the attempt.

      What Josh Allen, Bills said about passing game struggles vs. Titans | NewYorkUpstate.com
      Allen threw for 82 yards on 10 of 19 passing with no passing touchdowns and an interception.

      What to make of Josh Allen’s fourth quarter comeback for the Bills | NewYorkUpstate.com
      The first and last drive of the game illicit hope. Everything in between those two drives, however, was shaky at best.

      The Bills pull one out in their first close game of the season | WGR 550 SportsRadio
      Josh Allen came through when he was needed the most

      Sean McDermott: “We Got Into a Good Rhythm” – BuffaloBills.com
      HC Sean McDermott spoke to the media following the Bills’ victory over the Tennessee Titans on October 7th. Topics included: Defensive development, communication improvements, and Josh Allen’s growing level of confidence.

      Why didn’t Bills’ Jerry Hughes finish sack of Titans QB Marcus Mariota? | NewYorkUpstate.com
      Hughes had Mariota in a bear hug and what seemed to be a quarterback sack before Mariota broke free.

       

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