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No Deal is Better Than a Bad Deal | Carney to Extend Tenure at BOE?

Published September 4, 2018
  • President Trump criticized Canada over the Labour Day weekend and threatened to push ahead with a new trade deal with Mexico individually. Trump faces distinct challenges as he requires congressional support for this stance which he is unlikely to obtain. Resumption of talks starts Wednesday.
  • President Trump is ready to take the trade war with China to the next level as he wants to follow through on the imposition of tariffs on another $200 billion worth of Chinese goods as early as this week. The tariffs could go into effect after the public-comment period ends on September 6.
  • Mark Carney is in discussions with the UK Treasury to extend his tenure as governor of the Bank of England beyond his present departure date of June 2019. Carney will have the opportunity to suppress any speculation over his future when he meets with UK lawmakers this morning.
  • A barrel of West Texas Intermediate for October delivery was trading at $71.05 as Tropical Storm Gordon approached oil platforms along the US Gulf Coast. The rise in prices may only be temporary; OPEC crude production rose to the highest level in a year in August as an increase in Libyan output helped offset a sanctions-related cut in Iranian shipments.