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Russia mulls using yuan & euro instead of US dollar for external loans in 2020

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Further turning away from the greenback, Russia is eyeing the yuan and the euro as currencies for Eurobonds next year, Russian Finance Minister Anton Siluanov has said on the sidelines of an IMF and World Bank meeting. Answering journalists’ questions about the impact of US sanctions on the Russian sovereign debt market, Siluanov said that Read More

Betsy DeVos blasts Democrats’ ‘crazy’ plans to eliminate student loan debt

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Education Secretary Betsy DeVos panned Democratic proposals to eliminate student loan debt, calling them a “federal takeover of higher education.” DeVos appeared on “Special Report” on Friday and said if the federal government forgives college loan debt, the burden would be shifted to those Americans who opted not to go to college. “Their proposals are crazy,” she Read More

Dollar weakens on Brexit, shares sapped by weaker China growth

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NEW YORK (Reuters) – The dollar posted its worst week in almost four months on Friday, pummeled by sterling and euro rallies driven by a deal on Britain’s departure from the European Union, while China’s weakest growth in nearly three decades weighed on equities. The dollar crept lower against the euro as the common currency Read More

REFILE-Blackstone’s financing for Merlin deal unsettles bond market

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(This October 17 story refiles to change Thursday to Wednesday in fifth paragraph) FILE PHOTO: A LEGO Windsor Castle is worked on by staff at Legoland, in Windsor, Britain May 10, 2018. REUTERS/Peter Nicholls/File Photo By Abhinav Ramnarayan and Yoruk Bahceli LONDON (Reuters) – A buyout consortium led by Blackstone (BX.N) sent a frisson through Read More

China third-quarter GDP grows 6%, slowest pace in almost three decades

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BEIJING (Reuters) – China’s economic growth slowed more than expected to 6.0% year-on-year in the third quarter, the weakest pace in almost three decades, hit by soft factory production amid a bruising Sino-U.S. trade war and lackluster demand at home. Workers look at cranes lifting containers onto cargo vessels at a port in Yantai, Shandong Read More

Morning News Call – India, October 18

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To access a PDF version of this newsletter, please click here here If you would like to receive this newsletter via email, please register at: here INDIA TOP NEWS • Indian court jails former MD of PMC Bank as fraud probe deepens An Indian court on Thursday sent the former managing director of Punjab and Read More

Exclusive: Wall Street banks see green light from Fed on reserves – sources

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NEW YORK/WASHINGTON (Reuters) – Wall Street banks believe they are getting a green light from supervisors to hold more Treasury debt and less cash after last month’s volatility in overnight lending markets, three industry sources told Reuters. A Wall St. street sign is seen near the New York Stock Exchange (NYSE) in New York City, Read More

Russia plans to issue its first ‘Panda’ bonds next year – finance ministry

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Russia wants to issue sovereign debt denominated in Chinese currency and sell it on the Moscow Stock Exchange starting next year, Russia’s Deputy Finance Minister Alexey Moiseev has announced. “There are plans to list yuan-denominated bonds in Moscow in 2020,” the official said as cited by TASS. The idea has been considered since 2016, but Read More

China cuts US debt holdings to lowest level in more than two years amid simmering trade war

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Beijing cut the holdings of US Treasuries by $6.8 billion in August, reaching the lowest level since May 2017, the latest data from the US Treasury Department, released on Wednesday, shows. Washington’s trade war rival reduced its holdings of US government debt to $1.104 trillion in August from $1.110 trillion a month earlier. Since the Read More

Morning News Call – India, October 17

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To access a PDF version of this newsletter, please click here here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 9:45 am: Junior Finance Minister Anurag Thakur and NITI Aayog Vice Chairman Rajiv Kumar at India Economic Conclave in New Delhi. 12:00 pm: Junior Finance Minister Read More