News, Rumors and Opinions Monday Morning 2-3-2020
TNT:
Cutebwoy: Victory: We will give all support to Allawi on the path to reform
February 2, 2020 Baghdad / Al-Ikhbaria:
The leader of the victory coalition, Muhammad Nuri Abd Rabu, confirmed on Sunday that his coalition will provide full support to the Prime Minister-designate, Muhammad Tawfiq Allawi, on the path to reform.
In a televised statement, followed by Al-Akhbaria, Abed Rabbo said, “The victory coalition does not have any problem with the prime minister-designate, but will support him if he fulfills the reforms and the promise he made to the masses.”
He added, “Muhammad Allawi is one of the important personalities, and he is able to lead the country if the political forces allow him to do so without interfering with his work.
Harambe: AP News: Fears of new virus trigger anti-China sentiment worldwide https://apnews.com/04f18aafe1074a1c06b4203edcbdc661
Mobius: D UBAI (Reuters) - Iran on Sunday offered its full support for new Iraqi prime minister Mohammed Tawfiq Allawi and reiterated its backing for the government’s demand for U.S. forces to leave the country. https://www.reuters.com/article/us-iran-iraq-spokesman/iran-welcomes-allawis-appointment-as-iraqi-prime-minister-calls-for-u-s-pullout-idUSKBN1ZW0GD?il=0
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Harambe: CNBC: Chinese markets plummet on return from holiday amid virus outbreak
(2/3/20)
Stocks in mainland China plummeted more than 7% on Monday as they returned to trade following an extended holiday amid an ongoing coronavirus outbreak.
The Shanghai composite fell 7.72% to close at about 2,746.61 while the Shenzhen component dropped 8.45% to end its trading day about 9,779.67. The Shenzhen composite also declined 8.414% to close at around 1,609.00. The indexes all fell around 9% in early trade during the session.
The moves on the mainland came following an extended holiday amid an ongoing virus outbreak that has taken more than 300 lives in the country so far.
The People's Bank of China announced Sunday that it will inject 1.2 trillion yuan (approx. $173 billion) worth of liquidity into the markets via open market reverse repo operations. The Chinese central bank said the overall liquidity in the system would be 900 billion yuan (approx. $130 billion) more as compared to the same period last year.
"While this will be the largest single-day addition since 2004, it implies a mere net injection of RMB150bn as commercial banks are scheduled to repay RMB1.05tn of funds on Monday," strategists at Singapore's DBS Group Research wrote in a note. "The authority may need to inject more cash in the rest of the week via reverse repo and/or medium-term lending facility to soothe market nerves."
"(The Chinese government) may have another kind of rate cut … or RRR cut. But honestly speaking … it can only (help) a little bit at this moment," ****ie Wong, executive director at Kingston Securities, told CNBC's "Street Signs" on Monday.
Comparing it to the situation two months ago when concerns largely centered around trade frictions between Beijing and Washington, Wong said Chinese officials and the government had "more tools" then to tackle problems.
At the moment, however, he said: "The first priority amongst all priorities would definitely (be) to solve this virus outbreak."
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MarkZ:
@originalmarkz: We just decided to have tomorrow's stream (Monday) at 1 pm to allow everyone to sleep off all the Super Bowl festivities. Enjoy and best of luck to you...
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Courtesy of Dinar Guru
Frank26 Question "Now that a progressive Prime Minister has been named and his cabinet apparently set what is the time-frame for the RI in your opinion?" I don't know but inside that thirty days that he has to pick his new cabinet that's what we're hoping. That the baton will be passed from the CBI to the GOI. It would be an opportune time cause you would have the GOI physically ready to accept the new rate.
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KTFA:
WaitingGame: I hope this is ok to post. It’s too funny not to share and Lord knows we need a sense of humour in this game....
Its Bill Murray. A new TV commercial on air starting today - it’s Super Bowl and it’s Groundhog Day.
Keiser Report 1496
Markets! Finance! Scandal! Keiser Report is a no holds barred look at the shocking scandals behind the global financial headlines
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