October 8th – Top Morning Stories

1/ US


- Democrats eye long-term debt ceiling hike - Politico - By BURGESS EVERETT and MANU RAJU


The Democratic push to lift the nation’s debt ceiling — without any restrictions — will begin in earnest this week, as Senate Democrats plan to ratchet up public pressure for a long-term increase.


2/ China


- China services firms see slower growth, weaker outlook - Reuters – By Jonathan Standing


Business confidence in China’s services sector slipped in September and growth slowed, a private survey showed on Tuesday, another signal the world’s No.2 economy is finding it difficult to regain solid momentum after a protracted slowdown.


3/ Eurozone


- Money market fears point to more ECB bank loans - FT – By Christopher Thompson and Patrick Jenkins


The first deadline for paying back some €1tn in loans is over a year away. But that looming date is already making investors nervous. The rates at which banks lend and borrow to each other in European money markets have begun to rise.
One-week Euribor – a key measure of shorter term bank borrowing rates in the money market – has increased from 0.08 per cent in January to just below 0.1 per cent now; one-month Euribor has risen from 0.1 per cent to 0.128 per cent and three-month Euribor increased from 0.18 per cent to 0.22 per cent.