The rise in inequality is attributed to the shrinking wages of low-income households, and a cut down in temporary positions
Singaporean industrial production surges unexpectedly in April on sharp rise in biomedical manufacturing
Imports of Japanese beer fell 89 percent to $630,000, while Japanese vehicles dropped 59 percent to $62 million
The increased spending is seen as a preparation to secure competitiveness after the coronavirus pandemic
U.S. Treasuries gain on hopes of Fed’s 25bp policy easing, August industrial production
The U.S. Treasuries gained during Tuesday’s afternoon session ahead of the Federal Reserve’s monetary policy meeting, scheduled to be held on September 18 by 18:00GMT, where it is widely expected to cut interest rates by 25bp, although prospects for more easing further out are less clear.
The yield on the benchmark 10-year Treasury yield edged plunged 2 basis points to 1.824 percent, the super-long 30-year bond yield suffered 1-1/2 basis points to 2.295 percent and the yield on the short-term 2-year too plummeted nearly 2 basis points to 1.747 percent by 11:50GMT.
Markets remain focused around the aftermath of the drone attack on Saudi Aramco’s oil facility. The producer has suggested that it may be weeks or months before full capacity is achieved. President Trump suggests he has no interest in a war with Iran, or anybody, preferring to go down diplomatic channels. This should alleviate some market risk for now, Lloyds Bank reported.
"We expect today’s US August industrial production report to show a 0.3 percent m/m headline increase, more than reversing the 0.2 percent fall in July. The ISM manufacturing report for August, however, fell below the key 50 level for the first time in three years," the report added.
Meanwhile, the S&P 500 Futures remained flat at 3,000.88 by 11:55GMT.