Todays Markets

Bloomberg: Asia Stocks Mixed After China PMI; Bonds Advance: Markets Wrap
Equity markets in Asia fluctuated and bonds added to gains as caution crept into markets following a drop in China’s factory gauge and as investors continued to assess developments on U.S. tax reform. (more...)

Bloomberg: China Factory PMI Falls From Five-Year High on Pollution Cleanup
China’s official factory gauge fell this month, with new orders and prices leading the decline, as officials increasingly prioritize a campaign to clamp down on polluting industries and rein in debt. (more...)

Bloomberg: Britain’s Taxman Wants to Make Money From MiFID
Banks and money managers are waiting to hear if one of life’s certainties -- taxes -- will apply to investment research payments under MiFID II. (more...)

Bloomberg: Pimco Quants Find Stocks Need a Better Hedge Than Just Bonds
The old recipe of using bonds to hedge against risks from equity holdings may not be a winner anymore, and investors would be better off with a more complex approach that relies on multiple tactics, according to Pacific Investment Management Co. analysis. (more...)

Bloomberg: Ryanair Profit Gains as Strong Prices Offset Pilot-Crisis Impact
Ryanair Holdings Plc’s first-half earnings gained 11 percent as price declines stabilized over the peak summer months, more than offsetting the cost of a pilot shortage that triggered flight cancellations for about 700,000 passengers. (more...)

Bloomberg: Dollar Starts Week Lower Before Central Bank Meetings, Fed Pick
The dollar started the week with a decline, dropping versus most of its G-10 peers amid month-end profit-taking and ahead of central bank decisions. (more...)

Reuters: Asia gains as South Korea hits record high, dollar sags on White House woes
Asian stocks mostly rose on Tuesday, shaking off downbeat factory readings out of China, while the dollar sagged after investigators probing Russian interference in the 2016 U.S. election charged President Donald Trump’s former campaign manager. (more...)

Reuters: Oil eases on profit-taking but sentiment remains strong as supply cuts bite
Oil prices eased on Tuesday as traders took profits following days of gains and as the prospect of increasing U.S. exports dampened overall bullish sentiment that has driven Brent above $60 per barrel. (more...)

CNBC: The US is monitoring India's currency — that alone could hurt the Indian economy
India's persistent buying of the U.S. dollar to keep its local currency cheap has caught the attention of the U.S. Treasury, increasing the risk that Asia's third-largest economy could soon face the ill effects of a "currency manipulator" branding. (more...)

CNBC: If the price of oil goes up, the appetite for reform will go down, says the IMF's MENA director
Changes abound in the Middle East and North Africa, but the pace of reform needs to increase, according to one senior voice at the International Monetary Fund (IMF). (more...)