Les dépêches samedi 15 juin soir.

June 14 – Reuters : “Some Hong Kong tycoons have started moving personal wealth offshore as concern deepens over a local government plan to allow extraditions of suspects to face trial in China for the first time, according to financial advisers, bankers and lawyers familiar with such transactions… ‘It’s started. We’re hearing others are doing it, too, but no-one is going to go on parade that they are leaving,’ the adviser said. ‘The fear is that the bar is coming right down on Beijing’s ability to get your assets in Hong Kong. Singapore is the favored destination.’”

June 11 – Associated Press : “President Donald Trump complained… that President Xi Jinping enjoys a major advantage in the U.S.-China trade war in that he controls China’s central bank while Trump must deal with a Federal Reserve that is ‘very destructive to us.’ Trump made clear in an interview with CNBC his frustration with a system that provides political independence for America’s central bank — something most economists see as vital to its credibility. Trump noted that China’s president, by contrast, is essentially also head of the Chinese central bank. ‘He can do whatever he wants,’ Trump said… Trump also complained that even though he selected four of the Fed’s five board members, including elevating Jerome Powell to chairman, ‘We have people on the Fed that really weren’t, you know, they’re not my people.’”

There’s a big week ahead for central bankers. The Federal Reserve, Bank of England and Bank of Japan are all set to meet, and the European Central Bank gathers for a forum in Sintra, Portugal.

Data from Morgan Stanley showed U.S. business conditions deteriorating this month by the most on record, reaching their lowest point since 2008, adding to recent signs that the U.S. economy is slowing.


[CNBC] The Fed won’t cut rates at its June meeting. Here’s why

[Reuters] Bowing to pressure, Hong Kong leader suspends extradition bill

[Reuters] Breakingviews – Beijing yields to Hong Kong’s financial clout

[Reuters] Trump says ‘Iran did do it,’ as U.S. seeks support on Gulf oil tanker attacks

[Reuters] Moody’s downgrades Turkey rating to B1, ministry challenges move

[Reuters] Chinese state media urges retribution after UBS economist’s ‘insult’

[Reuters] Russia’s Putin gives China’s Xi ice cream on his 66th birthday

[Bloomberg] Turkey Slams Moody’s Downgrade, Questions Company’s Objectivity

[FT] US economy: the Fed tries to predict politics

[FT] Bond markets are unconvinced how effective central bank tools are



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