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(Bloomberg) --

Hong Kong  standoff  eases, Goldman says trade’s drag on the economy to fade, and impeachment inquiry resumes. Here are some of the things people in markets are talking about today.

Peaceful end?

The standoff between protesters inside a university in Hong Kong and police appears to be winding down as the numbers remaining inside drop to less than 100. The city’s leader Carrie Lam called for a resolution to the siege, saying she instructed police to try to end the situation peacefully. After days of often violent protest, there are some emerging signs of normality, with schools scheduled to reopen tomorrow after their closure since Thursday. The Hang Seng Index jumped 1.55%.

Trade risk easing

Goldman Sachs Group Inc. sees the drag on the global economy from the trade war between the U.S. and China fading in 2020 as the bank forecasts that tariffs on American imports from the world’s second-largest economy have already peaked. Yesterday the World Trade Organization said that the volume of merchandise trade globally will increase by 1.2% this year and 2.7% in 2020. A breakthrough in negotiations over a phase-one trade deal still seems elusive, however, with neither side making any public statement on progress since the weekend

Impeachment inquiry

The second week of public impeachment hearings gets underway today with Kurt Volker, until recently President Donald Trump’s special envoy to Ukraine, among those scheduled to give testimony. Trump yesterday said that he is strongly considering testifying at the inquiry, if it would mean helping to re-focus Congress on the legislative agenda. The president also again commented on monetary policy, saying that he protested to Fed Chairman Jerome Powell about interest rates in a meeting at the White House. 

Markets rise

Overnight, the MSCI Asia Pacific Index added 0.2% while Japan’s Topix index closed 0.2% lower. In Europe, the Stoxx 600 Index was 0.8% higher at 5:50 a.m. Eastern Time with automakers among the best performers after stronger-than-expected car sales in the region. S&P 500 futures gained, the 10-year Treasury yield was at 1.824% and gold was lower.

Coming up…

U.S. October housing starts are expected to show a strong rebound when the data is published at 8:30 a.m. Building permits numbers are released at the same time. As well as the impeachment inquiry in Washington today, there is a hearing in the House on private equity practices. New York Fed President John Williams speaks at the annual SIFMA meeting. After Home Depot Inc. cut its outlook this morning, TJX Cos Inc. and Kohl’s Corp. are among other companies due to report today. 

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