2 September 2019
Question: According to MSN: Money, what do parents in Washington DC shell out, on average, for infant care per year?
Argentina battles to limit debt crisis as election booms – Pg. 3
- The peso fell by 26% against the dollar during August
- …Congress was not consulted when Argentina rushed to the IMF for a $57bn bailout amid a currency crisis last year
US hits China with fresh 15% tariffs as trade war escalates – Pg. 3
- Washington added tariffs to 15% on $112bn of goods from China yesterday, expanding the trade war in a move that will probably raise prices for American consumers
- Until now, tariffs from the Trump administration have raised costs for businesses with supply chains that reach across the Pacific. Inflation remains low in America, and importers have had difficulty passing their costs on to consumers. The new tariffs, however, will hit “final goods” such as shoes and clothing, and could show up in household budgets in the fall
- For a year, trade threats against China and Mexico have depressed business investment in the US, which declined in the second quarter of 2019. But consumer spending, an important part of the US economy, has remained strong
Fed to lift lid on US growth, as bonds look to Labour Day boost and Hong Kong prepares for falls – Pg. 8
- The Fed will release its monthly “beige book” of data on the domestic economy on Wednesday. Poor data will indicate evidence pointing to a weakening global outlook has reached the US
- Last month, the beige book showed modest economic growth, easing concerns companies were cutting spending
- Labour Day, the first Monday of September, typically siganls the end of the summer doldrums for US capital markets, as companies ready sales of stock and bonds
- Investment grade bonds had their best August since 1982, …as fund managers loaded up on higher quality debt that could offer significantly higher returns than the US government
Answer: $24,243/year or $2,020/mo