30 May 2019 FT — Articles to Read

30 May 2019


Question: According to MSN: News, what is the median bail for felonies?


Mueller passes baton to Congress for any action against Trump- Pg. 1

–          Robert Mueller, who investigated Donald Trump and Russian meddling in the 2016 US election, has passed responsibility for any further action against the present to Congress

–          The special counsel said the US required “a process other than the criminal justice system” to accuse a sitting president of wrongdoing

–          Mr Mueller said indicting the present was never an option and reiterated that his report, first published in April, did not exonerate or accuse Mr Trump of obstructing justice

–          “A president cannot be charged with a federal crime while he is in office”


Venezuela’s 130,000% inflation reflects rocketing price of economic meltdown – Pg. 1

–          …GDP contracted 22.5% year-on-year in the third quarter of 2018 – the most recent period for which figures were available

–          GDP has fallen very quarter in Venezuela since the start of 2014, and by at least 10% year-on-year in every quarter since the end of 2015,…


Investors raise bets on Fed making two rate cuts as trade war worries intensify – Pg. 19

–          Investors have increased bets that the Federal Reserve will cut US interest rates not once but twice this year to counter concerns about slowing global economic growth that have been inflamed by the worsening US-China trade war

–          The probability that the central bank will cut rates two or more times by the end of 2019 rose above 48%….

–          Concerns over the growth outlook have been roiling the bond market, helping push the US government’s borrowing costs lower as investors sought out the relative safety of Treasuries

–          The signal from the widely watched US yield curve, whose inversion has been a reliable indicator of past recessions, also intensified investor nervousness on Tuesday because long-dated Treasury yields slid further below yields on shorter dated government debt

–          The difference between three-month and 10-year Treasury yields dropped as low as minus 13bp, its lowest level since 2007.  This measure of the yield curve has turned negative before every US recession of the past 50 years


Answer: $10,000