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Thursday, June 6: Five Things You Need to Know to Start...

Business Maverick

Business Maverick

Thursday, June 6: Five Things You Need to Know to Start Your Day

By Bloomberg
06 Jun 2019 0

Boeing is in talks for a megadeal that the trade war could derail. Asia equity futures are mixed after a U.S. stock advance. And the Trump administration readies a $2 billion Taiwan arms package. Here are some of the things people in markets are talking about today.

Boeing Megadeal

Boeing is negotiating one of its largest-ever orders of wide-body jetliners with Chinese airlines. Talks are for a 100-plane deal—including the 787 Dreamliner and 777X—potentially worth more than $30 billion before the usual discounts, people familiar said. The U.S.-China trade war is a complication for both sides, with the carriers waiting for Beijing’s guidance before proceeding.

Mixed Markets

Asian equity futures may open mixed, with Nikkei futures slightly up, while the Hang Seng may open down. U.S. stocks climbed on optimism  Mexican tariffswill be avoided. Treasuries rose as a weak private-jobs report bolstered bets the Fed will ease, outweighing solid service-industries figures. The spread between 2- and 10-year yields reached the widest since November. The dollar rose against all G-10 currencies except the kiwi. Oil entered a bear market after U.S. supplies jumped the most in almost 30 years.

Taiwan Arms Sale

The U.S. is preparing a $2 billion arms sale to Taiwan that will include the American Army’s best tank, the M1A2, a person familiar said. The package also includes anti-aircraft and anti-armor weapons, but not F-16 fighters, which are still under review by the Pentagon and State Department. Beijing opposes all weapons deals with Taipei and will probably issue a public protest.

Prayuth Keeps His Job

Thai junta leader Prayuth Chan-Ocha won a parliamentary vote to return as prime minister following a disputed election in March, defeating the opposition’s Thanathorn Juangroongruangkit. The former army chief was backed by the majority of lawmakers in a joint vote of the elected lower chamber and military-appointed Senate. He’ll lead a coalition with a razor-thin majority against a vengeful opposition tired of being silenced.

Trump Disputes Execution Report

Trump said a North Korea official who was reported to have been executed really wasn’t. The president took issue with a Chosun Ilbo report that Pyongyang killed its former top nuclear envoy to the U.S. and four other foreign ministry officials in March after a failed summit between Kim Jong Un and Trump. Kim Hyok Chol, who led working-level negotiations for the February summit in Hanoi between Trump and leader Kim Jong Un, is being investigated for his role in the failure to reach a deal, CNN reported earlier.

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