Stacks of 100 Argentine peso notes are displayed for a photograph in Buenos Aires, Argentina. (Photographer: Diego Giudice/Bloomberg)

World Factory Fears, 30% Pay Rises, Argentina Awaits: Eco Day

(Bloomberg) -- Welcome to Tuesday, Asia. Here’s the latest news from Bloomberg Economics:

  • Factories from Asia to Europe are staring into the unknown when it comes to trade, and it’s unnerving them
  • Competition to manage the money of Asia’s millionaires has pushed pay hikes for some wealth managers to 30 percent or more in Hong Kong and Singapore
  • Argentina will place a new tax on crop exports as President Macri asks farmers to help him resolve the nation’s economic crisis; he has a tense night ahead waiting for U.S. markets to give the thumbs up or down to his proposals
  • Indonesia is intensifying the fight to protect its currency and bonds with a slew of measures. Further north, for those worried about the timing of Thailand’s first interest-rate hike in seven years, fund managers have a message: don’t sweat it
  • Italy’s political leaders will begin discussing the 2019 budget in earnest with investors monitoring for signs of just how far they’ll push the EU’s budget rule. Meanwhile, Europe’s finance ministers have no need to worry about the ECB’s exit from years of loose monetary policy, says an upcoming study
  • Mark Carney will have his chance to put speculation about his future as Bank of England governor to rest when he faces lawmakers
  • The Bank of Japan has bought so many bonds that its asset holdings are now almost as big as the country’s $5 trillion economy

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