Peter Lewis: A fast moving and topical business and finance show.
A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live from 8 a.m. to 8.30 a.m. every weekday morning on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at email@example.com, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkR3") .
Shares on Wall Street have plunged on fears of slowing economic growth after the US Treasury yield curve inverted, an indicator seen by some as a warning of a forthcoming recession. There is also uncertainty over the details of the trade agreement made over the weekend between President Trump and his Chinese counterpart Xi Jinping. China has still not confirmed it will reduce tariffs on US autos, as claimed by President Trump. The mainland has also not provided details of the US$1.2 trillion in additional trade commitments that US Treasury Secretary Steven Mnuchin claimed were made by China during the meeting at the G20.
UK Prime Minister Theresa May has kicked off five days of debate in Parliament on her draft Brexit agreement, culminating in a vote among MPs next Tuesday. But a lifeline has appeared for those wishing to remain in the EU after the European Court of Justice’s Advocate General said that Britain can revoke the Article 50 exit clause without consent from the rest of the EU.
Our panel of guests this morning consists of Stewart Aldcroft of CitiTrust, Karine Hirn from East Capital and over in Washington D.C., RTHK’s International Economics Correspondent, Barry Wood.
05/12/2018 - 8:08 Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust says that the Treasury yield curve inversion brings the spectre of recession with it. However, he believes that if it's just a one day phenomenon, and the market corrects very quickly in the next few days, the signal could be ignored.
Karine Hirn, Partner of East Capital says the markets are giving a signal to the Federal Reserve to pause on rate hikes, which in turn is positive for the emerging markets.
RTHK’s International Economics Correspondent Barry Wood says there is enough evidence to show that the US and world economies are decelerating.