White House trade adviser Peter Navarro denounced the reports that US is considering restrictions on Chinese companies. He told CNBC that “That story, which appeared in Bloomberg: I’ve read it far more carefully than it was written. Over half of it was highly inaccurate or simply flat-out false.” He added that “this story was just so full of inaccuracies and in terms of the truth of the matter, what the Treasury said I think was accurate.”
On Friday, it’s widely reported, including by Bloomberg, that US is considering a number of measures on “financial decoupling with China”. Those include forcing a delisting of Chinese companies from US exchanges, imposing limits on investments in Chinese markets by US government pension funds and putting caps on the value of Chinese companies included in indexes managed by US firms.
Chicago PMI dropped to 47.1, lowest since 2009
US Chicago Business Barometer dropped to 47.1 in September, down from 50.4 and missed expectation of 50.5. That’ also the lowest level since Q3 2009. Looking at some details, Production dropped -7.6 to 40.4, hitting the lowest since May 2009. New Orders dropped back into contraction, by -7.6 to 48.5. Supplier Deliveries and Employment are the only higher on the month, at 54/8 and 45.6 respectively.
Full release here.