Hong Kong’s New Crisis, Argentina Fears, RBI Difficulty: Eco Day

(Bloomberg) -- Welcome to Tuesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• Hong Kong’s deepening political crisis now risks becoming an economic one
• Suddenly, fears of a full-blown financial crisis in Argentina have once again come rushing to the fore
• The U.S. fiscal deficit has already exceeded the full-year figure for last year, as spending growth outpaces revenue
• India’s decision to cut rates by an unprecedented 35 basis points has made it more difficult to predict the next move
• Australia’s back-to-back rate cuts are flowing through the financial system and into the economy, a senior Reserve Bank official said
• Brazil likely fell into recession in the second quarter according to a key gauge of economic activity
• Small, fast-growing economies on Asia’s frontier are back on the radar as diving global yields and easing by the Federal Reserve spur the hunt for higher returns, says Yuki Masujima

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