Weekly Highlights

Weekly Highlights 29 Sept: Is Trump getting fired from the White House?

#1 Impeachment inquiry begun

The Democrats accused Trump of seeking foreign help (cough cough maybe Russians too?) to smear Joe Biden. Seems like a dirty move from the Democrats to try to derail the 2020 election.

While some of his policies may not make sense, you got to give Trump major credit for winning the 2016 election. That guy has absolutely no political experience and he crashes everyone.

https://www.reuters.com/article/us-usa-trump-whislteblower/house-begins-trump-impeachment-inquiry-over-call-to-ukraine-leader-idUSKBN1W91OP

 

#2 Trump considers delisting Chinese companies from the US stock markets

This is big.

This will really anger the Chinese government and escalate the tension. If the Chinese government were to stop US companies from having market access to China? Imagine the “apocalypse” on Wall Street.

https://www.reuters.com/article/us-usa-trade-china-limits/trump-considers-delisting-chinese-firms-from-u-s-markets-sources-idUSKBN1WC1VP

 

#3 Is the inevitable happening in the Chinese bond market?

The only good thing that has it going for USD-denominated Chinese bonds is that US Federal Reserve is most likely going through rounds of rate-cutting.

https://www.bloomberg.com/news/articles/2019-09-25/-massive-snowball-effect-to-spur-china-bond-defaults-overseas

 

#4 Interactive Broker (IB) going for the home run

IB recently announced that they will be launching IBKR Lite which

  • Charges 0 commission on US-listed stocks and ETFs
  • No account minimum
  • No inactivity fees
  • ……..(check out the article link, there is a lot of freebies!!!!)

Not sure what sort of efficient operating structure that IB is operating at to allow them to offer such an awesome product, but this is the kind of innovation that Singapore brokerages sorely needs.

https://www.cnbc.com/2019/09/26/interactive-brokers-unveils-service-offering-commission-free-trades.html

 

#5 The drama continues between PM Lee and Li Shengwu 

Looks like Li Shengwu is bringing the big guns to the table by hiring a top British lawyer, whose clientele includes Queen Elizabeth II and Saudi Arabia. For the uninitiated, Li Shengwu said that the Singapore Government is “very litigious and has a pliant court system”.

For those who have gone through all the political drama in Singapore (cough cough Lee family), is there a kernel of truth in Li Shengwu’s statement? I wonder.

https://www.straitstimes.com/singapore/li-shengwu-hires-top-uk-lawyer-david-pannick-to-fight-contempt-of-court-case-in-spore

 

#6 State Street slash ETFs’ fees

Let’s hope this will trigger a fee war between Blackrock, Vanguard and all the other issuers. We, as retail investors, will benefit.

There has never been a better time to be an investor than right now, with every fund issuer racing to the bottom to capture market share.

https://www.etf.com/sections/features-and-news/state-street-cuts-etf-fees-adds-portfolio

 

Have a good week ahead.

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