Below are my top twelve news stories for the day with added commentary.
1 - Asian firms’ confidence sinks to near 3-year low on trade war fears
Representing the six-month outlook of 104 firms, the Thomson Reuters/INSEAD Asian Business Sentiment Index fell to 58 for the July-September quarter, its lowest since the fourth quarter of 2015, from 74 three months before.
It was a second straight quarter-on-quarter decline for the index and the pace of the fall was the steepest recorded since the survey began in 2009. A reading above 50 indicates a positive outlook.
If you are looking for a reason behind policy divergence, here is a big one. Asia business sentiment is very poor. And the fall in this index is precipitous, suggesting that an economic slowdown in Asia is on the horizon. This...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.