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  • Editor’s Picks / 2 hours ago

    Bangladeshi fund move part of push to fix infrastructure

    Nikkei Asian Review
    Bangladesh is readying a sovereign wealth fund to channel its foreign exchange reserves to infrastructure investments, says the governor of the country's central bank. The fund, to be launched in the next few months at the earliest, will have an initial size of $1 billion to $2 billion, said governor Atiur Rahman. "Our economy could achieve double-digit" growth if it overcomes a lack of modern infrastructure and other problems, he said. To try to fix its shoddy roads, ports and other economic bedrock, Bangladesh has already declared itself a founding member of the China-led Asian Infrastructure Investment Bank.
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  • Article / 2 hours ago

    Morning Report APAC: US ISM pushes rates lower; USDBRL and USDMYR rise

    APAC Sales Trading Desk / Saxo Capital Markets
    Singapore
    Morning Report APAC: US ISM pushes rates lower; USDBRL and USDMYR rise
    The lower than expected ISM Manufacturing figure pushed 10 year bond rates lower. In commodities, the drop in crude oil prices has impacted the commodity currencies. Meanwhile the same currencies continue to suffer in emerging markets.

    US ISM lower than expected push US rates lower, USDBRL continues to move up as well as USDMYR with bank Negara NOT seen selling usd
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  • Trade view / Yesterday at 23:05 GMT
    Strategic trade

    Strong JD earnings should prompt Alibaba rally

    China Watcher / Shanghai
    China
    Alibaba’s biggest rival JD.com will release its earnings on Friday, before Alibaba’s own earnings release next week. This will give investors a taste of what to expect from Alibaba’s earnings, because the two firms are similar in business scope. The key focus points for both firms are likely to be logistics investment and O2O business potential. So if JD.com reports healthy earnings, Alibaba’s share price should rally.
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  • Editor’s Picks / Yesterday at 22:44 GMT

    No need for strong stimulus steps: China's state-run media

    South China Morning Post
    China has no need for "massive stimulus measures" to keep its economy steady, the state-run People's Daily says, to assuage concern over slowing growth. The front-page commentary came amid a sustained fall in factory activity and speculation that top Communist Party leaders are holding their summer policy talks, at which economic development is expected to top the agenda. The economy expanded 7% in the second quarter in what economists said was top policymakers' most difficult three months in the past decade due to declining asset investment, slowing trade growth and a stock market gyration.
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  • Squawk / Yesterday at 14:09 GMT
    Head of Macro Strategy / Saxo Bank
    Denmark
    ISM manufacturing retraces from 5-month high:

    Manufacturing continued to expand in the US last month, but it did so at a slightly slower pace than in May and June with the headline index at 52.7 vs. 53.5 a month earlier (and 52.8 in May). Consensus had expected an unchanged reading of 53.5.

    The July ISM manufacturing report is a mixed bag with new orders among the highlights. The forward-looking component rose to 56.5 from 56, a six-month high, and the production index also gained to 56 from 54. Employment, on the other hand, dropped to 52.7 from 55.5.

    The employment component is interesting considering that the US employment report will be released on Friday. Consensus currently looks for an increase of 225,000 in July following a gain of 223,000 in June.
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  • Article / Yesterday at 12:30 GMT

    Greece's big, fat dive may spell trouble

    Director / Accumen Management
    United Kingdom
    Greece's big, fat dive may spell trouble
    Its a sleepy summer market and for want of any bigger impetus prices are to-ing and fro-ing in response to the Greek bourse's reopening plunge and Canada's snap election. These are hardly top-line events but the combination of low liquidity and holidaying traders means they could incite volatility in the week ahead.
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