Anna's Daybreak News

Good morning news aficionados! Step into a world where headlines collide, stories unfold, and curiosity reigns. From the quirkiest trends to the most hard-hitting issues, we've got the news that will keep you informed and craving for more.🗞️🌄

• As the post-COVID economic rebound continues to flounder, Chinese authorities have cut key policy rates in hopes of shoring up activity. July data further reflects an intensifying slowdown


• Industrial output growing at 3.7%, below expectations for a 4.4% increase


• Retail sales, a gauge of consumer spending, rising 2.5%, down from a 3.1% increase in June and missed analysts' forecasts of 4.5% growth


• Property investment extending its fall for 17th consecutive month


• High youth jobless rate and cooling foreign demand continuing to be major economic impediments


• The People's Bank of China (PBOC) lowered the rate on 401 billion yuan worth of one-year medium-term lending facility (MLF) loans to some financial institutions by 15 basis points to 2.50% from 2.65% previously.


• The PBOC also injected 204 billion yuan through seven-day reverse repos while cutting borrowing costs by 10 basis points to 1.80% from 1.90% previously.


• The recent rate cuts have widened the yield gap with other major economies, particularly the United States, putting more pressure on the yuan and risking outflows.

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• Trump and 18 other defendants, including former New York City Mayor Rudolph Giuliani, former White House Chief of Staff Mark Meadows, and former senior Justice Department official Jeffrey Clark, charged with racketeering and other crimes.


• The sweeping indictment sets the stage for another arraignment and a possible plea of not guilty by the former president.


• The 98-page document included 41 counts of racketeering, which would typically be used to target organized crime groups, and 13 felony charges against Trump.


• The indictment alleged that Trump and his associates breached voting equipment in a rural Georgia county, including personal voter information and images of ballots.


• The indictment documents an elaborate, far-reaching scheme full of lies, harassment and threats of prosecution to steal the U.S. presidential election before the eyes of the entire world. And, surprisingly enough, it didn't work.
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• The Netherlands and Denmark deployed F-16 fighter jets after two Russian bombers approached NATO airspace over the North Sea.


• The two Dutch F-16 jets were prepared to guard the Netherlands’ area of responsibility following an alert at 7:19 a.m. local time.


• The Russian planes turned back and never left international airspace.


• Amidst a rising international political tensions, the Dutch and Danish militaries passed their first test with flying colors – yet we don't know if this was Russian bravado or something more.
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• Treasury Secretary Janet Yellen has called China’s economic woes a “risk factor” for the US.


• But Yellen remains optimistic about the American economy and its labor market.


• China's slowdown is most likely to have the largest impact on Asian economies, but could have some spillover effects to the US.


• The Biden Administration remains committed to charting a path forward for the American economy.


• Despite some risk factors, the US is in a better position than ever to face the challenges posed by China's slowing economic growth.


• Yellen is monitoring international developments that may have consequences for prices and economic output.


• The administration is taking steps to lower prices for Americans.


• Yellen is confident that US inflation can ease without hurting employment.


• Might as well fire up the money printer and get this party started!
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Baked with love,

Anna Eisenberg ❤️