Headlines discussed at LNWM’s Monday morning briefing:
— Oil prices jumped about 10% as drone attacks on Saudi plants hit 5% of world’s oil supply, with half that expected to be restored this week.
— US retail sales are up for six straight months (through August), longest stretch since June 2017, on healthy job market and personal savings.
— The European Central Bank cut interest rates further below zero (to -0.5%) and will buy $20 billion/month in bonds, to revive Eurozone growth.
— China said it will exempt 16 types of US goods from import tariffs (out of 5,000 affected), ahead of trade talks with US slated for October.
— US Treasury bond yields rose the most since Nov. 2016, on optimism about economy; Fed expected to cut rates 25 basis points this week.
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