FILE PHOTO: A man looks at an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Japan, January 7, 2019. REUTERS/Kim Kyung-Hoon
June 17, 2019
By Tomo Uetake
TOKYO (Reuters) – Asian shares wobbled near one-week lows on Monday as investors turned cautious ahead of a closely-watched Federal Reserve meeting, while political tensions in the Middle East and Hong Kong kept risk appetite in check.
European stock were expected to open higher, with futures for Britain’s FTSE climbing 0.4% and Germany’s DAX up about 0.2%.
MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed by early afternoon, after opening slightly weaker. Japan’s Nikkei average also closed flat.
Asian markets got a quick boost after Hong Kong’s Hang Seng Index jumped as much as 1.4%. At the weekend, the territory’s leader Carrie Lam climbed down on a bill that would have allowed extradition to China.
The Hang Seng fell for three sessions in a row through Friday, after the extradition bill triggered mass protests and some of the worst unrest seen in the territory since Britain handed it back to Chinese rule in 1997.
“Last week the issue looked as if it would become another thorny point between the United States and China. As the bill is now being postponed indefinitely, things will likely calm down, which is good for markets,” said Hiroyuki Ueno, senior strategist at Sumitomo Mitsui Trust Asset Management.
Mainland Chinese shares traded within a tight range, with benchmark Shanghai Composite up 0.2% and the blue-chip CSI 300 rising 0.1%.
U.S. Secretary of State Mike Pompeo told Fox News on Sunday that President Donald Trump would raise the issue of Hong Kong’s human rights with China’s President Xi Jinping at a potential meeting of the two leaders at the G20 summit in Japan later this month.
Wall Street stocks ended lower on Friday as investors turned cautious before this week’s Fed meeting, while a warning from Broadcom on slowing demand weighed on chipmakers and added to U.S.-China trade worries.[.N]
Investors were waiting for more clues from the Fed after policymakers raised expectations for a rate cut in recent weeks amid worries about mounting fallout from the U.S.-Sino trade war.
Strong U.S. retail sales data on Friday rolled back expectations of a Fed rate cut at this week’s meeting to 17.5%, from 31% shortly before the release of the data on Friday, according to CME Group’s FedWatch tool. But bets of an easing by the July meeting remain high at 84%.
“The week ahead is likely to provide some clarification for investors on three fronts that have been a source of uncertainty. The FOMC meeting, with updated forecasts, is center stage,” said Marc Chandler, chief market strategist at Bannockburn Global Forex.
A private gauge on eurozone’s manufacturing sector as well as U.S.-China trade frictions will also be watched closely, Chandler said.
Financial markets were sideswiped by a sudden escalation in Sino-U.S. trade tensions in early May, with growing anxiety among investors that a protracted standoff could tip the global economy into recession.
Geopolitical tensions in the Middle East added another layer of uncertainty after the United States blamed Iran for attacks on two oil tankers in the Gulf of Oman last week.
Hopes that global central banks will keep the money spigots open have helped to temper some of the fears, and all eyes are on the Fed’s two-day meeting starting on Tuesday.
The Bank of Japan also meets this week and is widely expected to reinforce its commitment to retain a massive stimulus program for some time to come.
The retail sales report also sent short-dated U.S. Treasury yields higher, flattening the yield curve.[L2N23L10H]
Benchmark 10-year notes was last at 2.106%, while two-year bond yield edged up, shrinking the spread between two- and 10-year yields to 23.7 basis points compared to more than 30 earlier this month.
A Reuters poll showed a growing number of economists expect the Fed policymakers to cut interest rates this year, although the majority still see it holding steady.
In currency markets, the dollar index against a basket of six major currencies climbed to 97.583 on Friday, its highest level in almost two weeks, after the U.S. retail sales data eased fears that the world’s largest economy is slowing sharply.
The index last stood at 97.510, while the euro fetched $1.1216, near the lower end of its weekly trading range.
Oil prices rose on Monday after U.S. Secretary of State Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week.[O/R]
Brent futures added 0.4% to $62.27 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 0.3% to $52.67.
Spot gold eased 0.2% to $1,338.17 an ounce after hitting a 14-month peak on Friday.
Bitcoin jumped overnight to $9,391.85, its highest level in 13 months. It was last quoted at $9,193.21.
(Additional reporting by Hideyuki Sano; Editing by Shri Navaratnam & Kim Coghill)
The Trump administration is doing just about everything it can to slow the flood of undocumented Mexicans and Central Americans coming to the U.S. and claiming asylum. But alleviating our growing border crisis is impossible unless Congress changes our immigration laws.
Sen. John Cornyn, R-Texas, was right when he said Tuesday during a congressional hearing on border security that there is “absolutely no justification whatsoever for Congress to sit on the sidelines and watch as this crisis continues to unfold.” The emergency on the border is “getting worse and worse as Congress sits on its hands and does absolutely nothing” to help.
The border pandemonium is literally fatal. Since December, six migrants have died while in the custody of U.S. Customs and Border Protection. Five were children. This isn’t the fault of the Trump administration’s policies that aim to stanch the stream of illegal immigrants. It’s the result of a border patrol collapsing under the weight of hundreds of thousands of migrants making a dangerous and debilitating journey to the U.S. and needing urgent medical care as soon as they arrive.
In fiscal 2018, border agents apprehended nearly 106,000 “family units,” meaning families that made their way illegally onto U.S. soil and, more often than not, claimed asylum. We’re only halfway through this year, and that number has tripled to more than 316,000.
Why is this happening? It is because everyone south of the border knows that to secure indefinite legal protection to stay in the U.S., they need simply to arrive with children, who by law must not be detained for more than 20 days. When the child is released by border patrol, as it inevitably will be, so too is the person who came with them. That’s why the number of apprehensions of supposed families dwarfs apprehensions of single adults.
News media and Trump’s critics blame administration cruelty for the crisis. They’ve started referring to detention centers as “concentration camps” (see P.xx). But the crisis is caused by our nonsensical asylum laws, which are well intentioned but incapable of dealing with the sort of massive run on the border we’re seeing today. Our laws act as a magnet for illegal immigrants, encouraging migrants to make dangerous journeys with children, across Mexico, and enter our country without documentation.
Asylum claims at the border are rising rapidly. The vast majority of migrants who claim asylum, 90%, pass a first screening. They’re ordered to show up at court on a specified date that, because of a backlog of about a million cases, may be five years later. In that time, they’re allowed to work legally within the U.S. Even so, some 40% don’t show up for their court hearings, having disappeared into the country, perhaps forever.
Kevin McAleenan, acting homeland security secretary, is calling for reform, so the asylum process can no longer be abused by migrants who aren’t really fleeing persecution in their own countries but are simply looking for a better way of life in the biggest economy in the world. That’s the lure of the United States. Congress should raise the bar for who can qualify for asylum, McAleenan argues, and make it much easier to remove people quickly if they don’t meet the standard.
Asylum laws are to provide a safe haven to people who arrive at our door with a well-founded fear of persecution. If you’re genuinely fleeing drug gangs out to kill you and your family in Mexico or Canada, you should be let in. If you are persecuted by Iran and can get a flight to America, this country should grant you asylum and keep you safe.
But our crisis is from South American and Central American migrants fleeing El Salvador or Venezuela and merely passing through Mexico. Most arrivals at our southern border are not Mexicans.
The question is, why didn’t they stop in Mexico? And why should they become this country’s responsibility? There are many good reasons to prefer the U.S. to Mexico — more jobs, more freedom, more welfare — but none of these are remotely valid reasons to grant asylum.
These are simple economic migrants, encouraged by massive loopholes in the law and the fecklessness of a Congress unwilling to doing anything about them. Trump has leaned on Mexico to absorb more of them, and that seems to be working. But for a lasting reform, Congress needs to change the law.
More border security, which Democrats say implausibly that they want, and fewer detained migrants: Shouldn’t everyone jump to these reforms?
The problem is that House Democrats have little political incentive to work with Republicans and the White House on any measure that would reduce the flow of illegal immigrants. Democrats are loath to cooperate with the GOP while they, at the same time, hope to drag Trump down to defeat in the 2020 election. It is certainly true that most Democrats are at best muddled on the immigration question and at worst fully in favor of opening the southern border to anyone who wants to come into the country.
But the party of the Left cannot deny that we have a crisis at the southern border. If Democrats are honest, they’ll admit it’s caused by our asylum laws, and they will help fix them.
President Donald Trump on Sunday defended himself against impeachment by partially quoting freshman lawmaker Alexandria Ocasio-Cortez.
“Rep. Alexandria Ocasio-Cortez. ‘I think we have a very real risk of losing the Presidency to Donald Trump.’ I agree, and that is the only reason they play the impeach card, which cannot be legally used!” Trump tweeted.
Ocasio-Cortez, a member of the powerful House Oversight Committee, earlier Sunday during an appearance on ABC’s “This Week,” said the pressure to impeach Trump grows every day and that frustration with House Speaker Nancy Pelosi’s resistance is “quite real.”
“I think every day that passes the pressure to impeach grows. It’s justifiable,” she said. “I think the evidence continues to come in and I believe that with the president now saying that he’s willing to break the law to win re-election, that — that goes — that transcends partisanship. It transcends party lines. This is now about the rule of law in the United States of America. …”
She later said Democrats “have a very real risk of losing the presidency to Donald Trump if we do not have a presidential candidate that is fighting for true transformational change in the lives of working people in the United States.”
Source: NewsMax Politics
FILE PHOTO: Athletics – Diamond League – Shanghai – Shanghai Stadium, Shanghai, China – May 18, 2019 Noah Lyles of the U.S. celebrates winning the Men’s 100m REUTERS/Aly Song/File Photo
June 17, 2019
(Reuters) – Noah Lyles overcame an apparent false start to run the fourth-fastest 150 meters of all time on a wet elevated straightaway in Boston on Sunday.
After television footage showed the world and Olympic 200m favorite leaving the starting blocks early, Lyles was given a second chance and romped to a personal best 14.69 seconds in the Adidas Boost Boston Games.
Retired Jamaican Usain Bolt, the man Lyles would like to succeed in the Olympic 200m, holds the world best of 14.35 seconds in the infrequently run event.
“What did the guy at the start say? Green card. Then it was a green card,” Lyles said after officials told NBC Sports there was no conclusive evidence that the star of the meeting had false started.
But four-time Olympic sprint medalist Ato Boldon, the network’s analyst, disagreed. “In any other meet, Noah is out of this race,” he said.
Once the red-clad Lyles got moving in the restart, there was no stopping him as he left British runnerup Nethaneel Mitchell-Blake 0.41 seconds in his wake.
The United States has not won an Olympic medal in the men’s 200m since 2008 and Lyles is aiming to change that.
“I made it my mission,” said the talented sprinter with Bolt-like showmanship. “We are not out of this. We are coming back.”
His goal is gold in both September’s world championships in Doha and the 2020 Tokyo Olympics.
Despite the wet conditions, Bahamian Olympic 400m champion Shaunae Miller-Uibo, Britain’s 100m European champion Zharnel Hughes and South African sprinter Akani Simbine had impressive performances.
Miller-Uibo clocked 16.37 seconds, a mere 0.14 off her world best in the women’s 150m.
Hughes claimed the 200m straightaway race in 20.00 seconds and Commonwealth Games winner Simbine clocked 9.92 seconds in the 100m.
The women’s 100m went to world 60m indoor champion Murielle Ahoure of Ivory Coast in 11.09 seconds with world outdoor gold medalist Tori Bowie, who is coming back from injuries, third in 11.22.
(Reporting by Gene Cherry in Raleigh, North Carolina; Editing by Ian Ransom)
FILE PHOTO: A personnel of the National Migration Institute (INM) checks passenger’s ID as a member of the Military Police keeps watch at a checkpoint on the outskirts of Tapachula, in Chiapas state, Mexico June 6, 2019. REUTERS/Jose Torres/File Photo
June 16, 2019
By Roberto Ramirez
TAPACHULA, Mexico (Reuters) – Mexican officials detained nearly 800 undocumented migrants on Saturday, the government said, in one of the biggest swoops against illegal immigration in recent months, as members of the National Guard began patrolling the southern border.
Mexico’s National Migration Institute (INM) said in a statement late on Saturday that 791 foreign nationals were found in four trucks stopped in the eastern state of Veracruz, confirming earlier reports about a mass detention.
The apprehension came as Mexico steps up efforts to reduce a surge of migrants toward the U.S. border under pressure from U.S. President Donald Trump, who vowed to hit Mexican goods with tariffs if Mexico does not do more to stem illegal immigration.
As part of those efforts, Mexico has pledged to deploy 6,000 National Guard members along its border with Guatemala.
Although there have been few signs of that deployment so far, a Reuters reporter near the border in Tapachula this weekend saw a handful of security officials wearing National Guard insignia and spoke to others in military outfits who said they were part of the guard.
Mexico made a deal on June 7 with the United States to avert the tariffs, setting the clock ticking on a 45-day period for the Mexican government to make palpable progress in reducing the numbers of people trying to cross the U.S. border illegally.
There has been a jump in apprehensions at the U.S.-Mexico border this year, angering Trump, who has made reducing illegal immigration one of his signature policy pledges.
Most of those caught attempting to enter the United States are people fleeing poverty and violence in three troubled Central American nations, Guatemala, Honduras and El Salvador.
Mexico’s decision to tighten its border and respond to Trump’s threats has caused tensions within the government, and on Friday, the head of the INM, Tonatiuh Guillen, resigned.
He was replaced by Francisco Garduno, who had previously served as the head of Mexico’s prison system.
(Reporting by by Roberto Ramirez in Tapachula and Dave Graham in Mexico City; Editing by Nick Zieminski and Sonya Hepinstall)
President Donald Trump is sitting on a war chest topping $40 million, has boots on the ground spread across nine regions crucial to his 2020 map and owns a sprawling network of volunteers who’ve been rigorously trained for the months ahead.
When he takes the stage Tuesday in Orlando, Fla., to announce his bid for reelection, Trump will be joined by 20,000 guests whose personal information — names, zip codes, phone numbers — was meticulously recorded when they requested tickets to the rally. First-time attendees will receive relentless emails and texts in the coming weeks, reminding them they can help “Keep America Great” by contributing $5, $10 or $15. Some maxed-out donors who gave generously to his 2016 campaign will trek to Florida to witness what they delivered — and decide whether to give big again.
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It’s a straightforward strategy to get the president four more years in the White House: be the political juggernaut Trump lacked in 2016.
While 23 Democratic presidential candidates scramble for attention, Trump’s 2020 campaign is quietly flipping the script from its ham-fisted approach the first time he sought elected office. His team has spent 2½ building a robust, modern and professional operation to optimize as many variables as possible and amassing an unprecedented pile of cash to keep it all afloat.
It’s worked so far. The Trump campaign and Republican National Committee had a combined $82 million in the bank as of April — the result of a joint fundraising operation — and staffers have yet to devolve into the bitter infighting that strained the president’s first campaign and stained his earliest days in the White House.
“In 2016, the people on the campaign like to say that they were building the airplane while it was in flight. This time, he will have a campaign that is befitting of an incumbent president of the United States,” said Tim Murtaugh, communications director for the new-and-improved Trump campaign.
Indeed, one official involved in Trump’s first presidential campaign likened the experience to a slow-motion plane crash: “We were strapped in on a sloppily assembled machine that was gradually spiraling out of control.”
Even with a better-financed and well-ordered campaign, Trump has found the developing 2020 landscape to be tough. State investigators are still probing his past business ventures and financial history. Court rulings have delivered devastating setbacks for his agenda. And House Speaker Nancy Pelosi has encouraged congressional Democrats to do everything short of impeachment to hold his administration accountable.
On top of all that, the outburst-prone president has struggled to boost his approval rating above 42 percent — where it hovers — and could encounter difficulty billing himself as an outsider while occupying the center of the swamp.
“He’s an incumbent. It’s hard to run the same way in 2020 as he did in 2016,” a person close to the Trump campaign said.
The challenges are not lost on the president’s campaign staff. This time, Trump will launch his 2020 campaign with organizational and financial advantages his previous crew could have only dreamed of — soothing allies who worry the current political environment is less conducive to victory.
From a 14th-floor suite originally designed to house the offices of a capital markets firm, Trump’s modest campaign team of about 50 employees has spent the past several months laying the groundwork for a 2020 race that diverges from 2016 without sacrificing his insurgent populist message. Extensive assistance from the Republican National Committee — driven by a massive staff, existing presence in all 50 states and a staunch Trump ally at its helm — has helped, bringing institutional knowledge and resources that were notably absent in 2016.
Officials at the RNC’s Capitol Hill headquarters are in constant contact with counterparts who work out of the Trump campaign’s Arlington, Va., office, and staffers from each side often travel to the same events to show simultaneous support for the party and for Trump. For example, Trump campaign manager Brad Parscale and RNC Chairwoman Ronna McDaniel both attended a dinner this week hosted by the local Republican Party in Macomb County, Mich., often called the “home of the Reagan Democrats” and a must-win for Trump in 2020.
“If you look at where the campaign was in 2016 and where it is today, it’s a completely different organization. It has a united Republican Party behind it that also has one of the best fundraising operations we’ve ever seen,” a Michigan Republican Party official said, adding the Trump campaign plans to deploy significant staff to Michigan beginning in early July.
A campaign official said Parscale plans to have “a fully functioning ground game by the end of summer,” as well as several coalition groups that will specifically target female, Latino and African American voters.
Many of those campaign staffers, along with members of the GOP’s state party affiliates, have gone through a program known as GROW, or Growing Republican Organizations to Win. The custom workshop-type classes were created by the Trump campaign and the RNC to train field staff in fundraising, communications, data and digital efforts that will be unique to their states in 2020. One state party official who recently completed the training said they were asked to draft mock news releases and budgets as part of the programming.
Campaign officials readily admit that Trump determines the message on any given day, making it difficult to create a fixed communications strategy that volunteers and staff can follow. Earlier this year, for instance, Trump son-in-law and White House adviser Jared Kushner instructed campaign staff to avoid targeting specific 2020 Democratic candidates only to watch the president lob repeated insults at former Vice President Joe Biden weeks later. Trump has also insulted Sens. Elizabeth Warren and Bernie Sanders, former Rep. Beto O’Rourke, New York Mayor Bill de Blasio and Pete Buttigieg, the mayor of South Bend, Ind.
“The key for the Trump campaign is to successfully build its operation around the most unconventional candidate in history,” said Jason Miller, a former campaign adviser who remains close to the president. “Parscale has a good enough relationship with Trump to know that you always follow his lead and your job as the campaign is to build upon and amplify his message, not force feed him some message that you cooked up.”
Parscale has declined to foist soundbites on Trump, opting instead to let the president weaponize Twitter at his own discretion. But the campaign has begun crafting candidate-specific messages that it hopes Trump will test out and eventually deploy regularly, depending on who becomes the Democratic nominee. Officials have largely focused on Biden, Sanders and Warren, believing Trump’s opponent be one of those three.
“If it’s Sanders or Warren, they immediately become advocates for radical change that’s a step too far for most voters, and Trump becomes the centrist. But against Joe Biden, the race is much more of a change vs. status quo dynamic,” Miller said.
Campaign allies who are aware of internal polling said they also want Trump to tout his accomplishments constantly. He will only outperform his Democratic opponent if he’s “getting the right amount of credit for the progress he’s making on immigration, the economy and national security,” one outside adviser said. Several 2020 Democrats have argued that the economy is booming because of policies put in place by former President Barack Obama, although Trump’s economic approval rating reached a new high in a CNN poll last month.
Trump’s campaign has been briefing him almost weekly on polling, according to two aides familiar with the conversations, one of whom said the president is more obsessed with polls than anything else, despite repeatedly questioning their reliability after 2016.
The campaign’s first internal reelection poll found Biden trouncing Trump by 7 percentage points in Florida when it surveyed Sunshine State voters in March, ABC reported Friday. The state is key to Trump’s campaign strategy: Without it, a single loss in the Rust Belt could trigger the end of his presidency.
Campaign officials said that isn’t going to happen. They said fundraising has been too successful and that their massive data-gathering operation is unmatched by any Democratic presidential hopeful.
But as Trump prepares to launch his reelection bid 17 months before voters hit the polls in November 2020, perhaps his most distinct advantage is time.
“It’s important to remember that we are not on the same timetable as the Democrats,” Murtaugh said. “We are already in the general election.”
Alex Isenstadt contributed to this story.
Houthi rebels in Yemen recently shot down a U.S. government-operated drone with assistance from Iran, the U.S. military said in a statement on Sunday.
Lt. Col. Earl Brown, a spokesman for the U.S. Central Command, said the altitude at which the MQ-9 drone was shot down on June 6 marked “an improvement over previous Houthi capability,” a fact that led the military to conclude the rebel group had help from Iran.
Brown also noted that on June 13, Iran separately tried to shoot down yet another U.S. drone over the Gulf of Oman in an effort to disrupt surveillance of Iran’s attack on Kokuka Courageous, one of two oil tankers attacked on Thursday.
U.S. officials have blamed Tehran for those attacks, raising fears about a potential confrontation between the United States and Iran.
But the Secretary of State Mike Pompeo has continued to insist that United States does not want to have war with Iran.
While it is “unmistakable” that Iran was responsible for the attacks on two tankers last week, the United States does not want to go to war with Tehran, U.S. Secretary of State Mike Pompeo said on Sunday.
In an interview with “Fox News Sunday,” Pompeo said, “President Trump has done everything he can to avoid war. We don’t want war.” But he added that Washington will guarantee free navigation through vital shipping areas.
Source: The Washington Pundit