Fed Braces for Trump, Lagarde Urges Resolve, Weak China: Eco Day

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

• Fed policy makers are satisfied with the stance of monetary policy even if President Donald Trump isn’t
• Christine Lagarde steered clear of monetary policy in her first speech as ECB president, calling instead for “strength, resolve and courage” in the region
• Early indicators pointed to further weakness in China’s economy in October, a sixth month of such red signs, writes Qian Wan
• China is reviewing locations in the U.S. where President Xi Jinping would be willing to meet with Trump to sign the first phase of a trade deal. Shawn Donan explains why the location matters in the latest edition Terms of Trade
• India decided against joining a trade agreement covering much of Asia, paving the way for 15 other countries to sign the China-backed regional deal next year. What’s the RCEP and what happened to the TPP?: QuickTake explains
• Global manufacturing shrank for a sixth month in October as new export orders extended their longest downturn since 2002. Yet output and orders also firmed in a sign factory activity is stabilizing
• Malaysia’s central bank is expected to keep interest rates unchanged Tuesday, with a few economists predicting more easing in coming months amid an uncertain global economy
• Australian Treasurer Josh Frydenberg decided against changing the current Monetary Policy Agreement with the RBA. leaving the inflation target at 2-3%
• South Africa is fighting to preserve its last investment-grade credit rating and avert a forced selloff of billions of rand of its debt
• U.K. government spending is heading for a return to levels not seen for four decades regardless of who triumphs in the upcoming election, according to the Resolution Foundation think tank
• Argentina will face plenty of challenges in 2020, and they will shape the fate of the economy for years to come, writes Adriana Dupita
• As the world ages, exceptionally low rates will become more embedded as the new norm, suggesting a need for further discussion on adjusting inflation targets, according to BNP Paribas

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Jason Clenfield

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