Headlines discussed at LNWM’s Monday morning meeting:
— US new housing starts fell in Sept. after hitting a a 12-year high but are still up 1.6% from a year ago, as lower US interest boost activity.
— China’s GDP growth for 3rd quarter 2019 hit 6%, the lowest level since 1992; expected to fall below 6% in 4th quarter on lower exports.
— The US is imposing 25% tariffs on key EU imports (cheese, wine, etc.) in retaliation for Airbus subsidies; EU responding with similar tariffs.
— Japan estimated that the immediate impact of its new trade deal with the US will be 280,000 new jobs and a $36.8 billion boost to its GDP.
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