Macro Briefing | 1 August 2019

Highlights from last night’s Democratic debate: The Hill
Fed cuts interest rate by 1/4 point in ‘midcycle adjustment’: CNBC
US imposes sanctions on Iran’s forign minister: CNN
China’s factory activity contracted in July: CNBC
Eurozone mfg activity contracts sharply in July: IHS Markit
Brexit worries weight on UK mfg in July: Reuters
US labor costs rose at slowest pace in 1-1/2 years in Q2: Reuters
1yr trend for US private employment slips to +1.7%, a 20-month low: ADP