Fannie Mae (FNMA) on Monday upgraded its forecast for 2020 U.S. economic growth to 1.9% from 1.7%, arguing that consumer spending and the housing market will buoy gross domestic product if a "phase one" trade deal between the United States and China is signed.
* China trims short-term interest rate in surprise move. * World share index less than 1% from record high. * Beijing said to be pessimistic about tariffs -CNBC. * Dollar, crude slip on CNBC report. By Herbert Lash.
- Wall Street's main indexes eased from record levels on Monday after a report stoked fresh fears about a resolution to the U.S.-China trade dispute that has hit global growth and roiled financial markets over the past 16 months. The mood in Beijing about a deal was pessimistic due to President Donald Trump's reluctance to roll back tariffs, CNBC reported, citing a government source.
Global stocks started the week with muted gains in the absence of any further developments on U.S.-China trade negotiations. Futures tied to the Dow Jones Industrial Average edged up 0.2% after the gauge ended last week above the 28000 milestone. Over in Asia, Hong Kong's Hang Seng Index climbed 1.4% while the Shanghai Composite Index advanced 0.6%.
* Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr. Government bond yields in the euro area were little changed on Monday, supported by caution over U.S.-China trade talks.
BEIJING--China attracted $10 billion worth of foreign direct investment in October, up 3.1% from the same month a year earlier, the country's Commerce Ministry said Monday. October's increase exceeded the 0.5% growth recorded in September. For the first 10 months of the year, China's total foreign direct investment stood at $110.8 billion, rising 2.9% from the same period a year earlier, the ministry said.
China's central bank on Monday lowered the interest rate on its regular reverse repurchase open market operations for the first time since October 2015, aiming to boost market confidence and prop up slowing growth. The People's Bank of China said on its website that it cut the seven-day reverse repurchase rate to 2.5% from 2.55%. The central bank also injected a net 180 billion yuan of cash into the monetary system via open market operations.
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * China trims short-term interest rate, in surprise move. * Helps Asia share markets reverse early losses. * Markets look to Fed minutes, ECB Lagarde speech. * Pound inches up as opinion polls favour Tories. By Wayne Cole.
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * China trims short-term interest rate, in surprise move. * Helps Asia share markets reverse early losses. * Markets look to Fed minutes, ECB Lagarde speech. * Pound inches up as opinion polls favour Tories. By Wayne Cole.
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