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Asia cautious amid U.S. political uncertainty

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SYDNEY (Reuters) – Asian stocks started in subdued fashion on Monday as investors fretted that political instability in the United States was leaving the country rudderless at a time when the global economy was showing signs of faltering.

Pedestrians are reflected in a window in front of a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia, February 9, 2018. REUTERS/David Gray

Moves were limited by a holiday in Japan while many bourses are set to close early for Christmas. After opening lower, E-Mini futures for the S&P 500 ESc1 turned flat.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS lost 0.38 percent and Australian stocks 0.2 percent.

U.S. President Donald Trump’s budget director and chief of staff on Sunday said the partial U.S. government shutdown could continue into January, when the new Congress convenes and Democrats take over the House of Representatives.

Trump on Sunday said he was replacing Defense Secretary Jim Mattis two months early, a move officials said was driven by the president’s anger at Mattis’ resignation letter and its rebuke of his foreign policy.

Sources also told Reuters Trump has privately discussed the possibility of firing Federal Reserve Chairman Jerome Powell, a move that would likely roil financial markets.

Treasury Secretary Steven Mnuchin felt it necessary to personally call the heads of the six largest U.S. banks to calm nerves and made plans to convene a group of officials known as the “Plunge Protection Team.”

“It provides more than enough fodder for perceptions of chaos and instability in the White House,” said Ray Attrill, head of FX strategy at NAB.

“At the same time, the government shutdown offers a true foretaste of what lies ahead once the new Congress in sworn in on January 3.”

The political uncertainty has only added to the air of risk aversion, punishing equities to the benefit of bonds.

The Nasdaq .IXIC has fallen nearly 22 percent from its Aug. 29 high and into bear territory, while the S&P 500 .SPX was on track for its worst December since the Great Depression.

At the same time 10-year Treasury yields were near their lowest since August at 2.79 percent US10YT=TWEB, having fallen over 40 basis points in just six weeks.

The gap between two- and 10-year yields has shrunk to only 14 basis points, a flattening of the curve that has heralded economic turning points in the past.

“Many of the financial and economic indicators that turn first around business cycle peaks are now flashing red in advanced economies,” warned Simon MacAdam, global economist as Capital Economics.

“This is consistent with our view that the recent loss of momentum in the world economy will develop into a more severe slowdown in 2019.”

The flight to safe havens was again boosting the Japanese yen, with the dollar near a three-month trough at 111.07 yen JPY= on Monday.

It fared better on the euro, which was undermined by a run of poor data out of Europe. The single currency slipped to $1.1373 EUR= from a high of $1.1485 last week.

Against a basket of currencies, the dollar index was a shade softer at 96.902 .DXY.

In commodity markets, gold held near its recent six-month peak as the dollar eased and the threat of higher U.S. interest rates waned. Spot gold XAU= stood at $1,259.60 per ounce.

Oil prices were near their lowest since the third quarter of 2017, having shed no less than 11 percent last week.

U.S. crude was last unchanged at $45.59 a barrel, while Brent LCOc1 dipped 19 cents to $53.63.

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Independent Consultant Beginner – 6 Should Have Pieces Of It Technology And Software

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Prima Wireless Earbuds Reviewhttps://primawirelessearbuds.net/.

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Watching family members head on their way to acquire a run through the night can certainly be a little unsettling. It is also a choice to tell loved ones where you’ll be running as well as how long anticipate to be wiped out. Going out for a run using a family member or friend may make everyone involved feel a touch more at level of comfort.

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What Make Sure You Really Know Right Anyone Decide To Travel

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When traveling with children advised plan your route in advance. Do a little research and see as relevant and fun places to stop such as parks, museums or other attractions. Once you take breaks every non-chemical hours so everyone maybe even including the children probably get out and stretch their legs.

And yet their internal mechanics have improved with as of yet these people offering us much more than the mere Fm wavelengths. With their radio kit specially the newer model launched, you will get FM, AM, Internet radio, weather forecast and also TV recording.

Sony PSP – This will be the more advanced of the two in relation to Pure Pod Vibes (purepodvibes.org) specs. The PSP has a very high quality screen and can do proper sounds so may even watch free movies online on it’s. But you’ll have get the UMD movie disks and may cost replacing or additional a regular DVD. The PSP doesn’t have a a display and if you’d like to play linked games you’ll in order to be get a cable and each player need to have a copy of the sport.

Once that alarm sounds you in order to spend one hour writing down everything you just remember musing about it. You can then go back to sleep, but make particular command yourself to continue exact same way dream. Since REM state is one of the most state for dreaming, technique stretches against eachother and helps to make this more effective for lucid dreamers.

Departure time is extremely important. Leaving early am is a proficient plan. Your offspring will be tired and possibly sleep vehicle for the first part of the trip in any case.

Entertainment electronics cut in again. Modern airlines provide small TV in the back of the seat even for economy class, or Pure Pod Vibes superb hanging away from the ceiling, which are usually difficult towards your kids to ascertain if they’re not sitting within corridor outside. If you don’t have that type of luxury, a camcorder with headphones will have the desired effect. Modern camcorders have a little flat screen, so its possible to use because a mobile TV/VCR combine. For older children, a laptop with a DVD-player are able the job as so. But keep in mind to charge the batteries up to now!

Skateboard Parks: The best shop to do skateboarding in at a skateboard city park. They are safer places to skateboard because they remove associated with posed by motor all together .. The ramps are well constructed, the park is in the main free of debris; there is ample lighting for night professional skateboarding. Follow the park rule and traffic flow, skate the four foot ramp, then the six, after that your eight. I know it sounds like common sense, but sometimes boarders enter into “their zone” and Pure Pod Vibes Reivew Pod Vibes Reviews forget what’s natural. That takes us back to the ‘Keep your focus strategy. You always have to be know.

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Majority of Canadian workers willing to take less pay for a workplace pension plan: survey

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A majority (70 per cent) of Canadians say they’re willing to forgo a higher salary in exchange for a workplace pension plan, according to a new survey for the Healthcare of Ontario Pension Plan by Abacus Data.

The survey, which polled more than 2,000 Canadian adults in April, signals an opportunity for employers to build back the post-coronavirus pandemic working landscape better by expanding access to good retirement plans — whether they’re defined benefit, defined contribution or group registered retirement savings plans, says Steven McCormick, senior vice-president of plan operations at the HOOPP.

According to the survey, a secure retirement remains of greater concern for Canadians than concerns about their health, debt load and job security. McCormick says this has been a consistent worry the HOOPP has seen in survey results over the past couple of years. Nearly half (48 per cent) of respondents said they’re very concerned about having enough money in retirement, while 31 per cent were highly concerned about their personal debt load and 26 per cent cited their job security. Close to half of respondents expressed high concerns for their physical (43 per cent) and mental (40 per cent) health.

In addition, the pandemic has harmed the finances of more than half (52 per cent) of Canadians’ surveyed and it’s had a particularly disproportionate affect on the finances of younger adults. Adults aged 44 and younger said they’re twice as likely (25 per cent) to have had their finances greatly harmed, compared to those over the age of 60 (12 per cent).

Generally, younger adults tend to work in roles that may have been impacted most by the pandemic, says McCormick, whether in service industries that were shut down or frontline health care that have been busy but don’t always come with access to a pension plan. “Affordability is an issue, so I think their worries increased during this time.”

And while almost half (46 per cent) of Canadians surveyed said they’ve saved more money than they would have since the onset of the pandemic, among these respondents, over half (52 per cent) didn’t put any of their savings toward their retirement. Overall, most (63 per cent) Canadians surveyed haven’t set aside or saved anything for retirement in the past year, a five-point increase since 2019.

McCormick says this may be due to uncertainty or hesitancy about whether people’s immediate needs outweigh longer-term needs. And with 55 per cent of respondents noting they were very concerned about the cost of day-to-day living, he adds that rising prices have fuelled insecurity and worries so people are creating their own emergency funds right now.

While there’s a segment of the population who’ve saved more and, for them, the pandemic has created wealth, he doesn’t see this as a common narrative in the survey data. “If you don’t have access to a workplace pension or the opportunity to have things like automatic enrolment, the uncertainty of the time may have you holding onto money,” says McCormick. “In Ontario, we’re more optimistic about the pandemic than we were maybe a month ago, but there are still people worrying about whether there’ll be a fourth wave.”

In addition, more than two-thirds (67 per cent) of respondents said a retirement crisis is looming and 65 per cent said saving for retirement is prohibitively expensive. It’s a common and shared dream for many people in looking forward to a secure retirement, says McCormick, noting for many, making that dream a reality remains elusive.

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