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Biden accuser Lucy Flores says she’d vote for him over Trump despite misconduct claims

Lucy Flores, the Democrat and former candidate for lieutenant governor in Nevada, said she would support former Vice President Joe Biden over President Trump when asked who would get her vote in 2020 -- even though she's accused Biden of touching her inappropriately.

"That's not even a question. Of course I would support Biden,” Flores told CBS News on Monday.

In a piece published in New York Magazine’s The Cut last week, Flores accused Biden of putting his hands on her shoulders, smelling her hair and kissing the top of her head when he appeared at a rally in Las Vegas to support her 2014 campaign.

Biden has released multiple statements addressing the claim.

“In my many years on the campaign trail and in public life, I have offered countless handshakes, hugs, expressions of affection, support, and comfort. And not once – never – did I believe I acted inappropriately. If it is suggested I did so, I will listen respectfully. But it was never my intention,” Biden said Sunday. “I may not recall these moments the same way, and I may be surprised at what I hear. But we have arrived at an important time when women feel they can and should relate their experiences, and men should pay attention. And I will.”

WIFE OF FORMER DEFENSE SECRETARY CALLS BIDEN PHOTO MISLEADING

Flores told CBS News she was not satisfied with Biden’s response because he hasn’t acknowledged that his behavior was “inappropriate.”

"I think that in terms of when he talks about his motivation etcetera we really need to also acknowledge that it's not, it's not about the intent, it is about the person on the receiving end of that behavior, that unwanted behavior, and the way in which it makes that person feel, especially, especially in a situation where you have that kind of a power imbalance going on," Flores explained.

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A second woman has come forward with claims against the former vice president. Amy Lappos, a former congressional aide to Rep. Jim Himes, D-Conn., said Biden grabbed her head and neck and rubbed noses.

“When he was pulling me in, I thought he was going to kiss me on the mouth,” Lappos told The Hartford Courant.

Source: Fox News Politics

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France honors Notre Dame firefighters; protects rose window

France paid a daylong tribute Thursday to the Paris firefighters who saved the internationally revered Notre Dame Cathedral from collapse and rescued many of its treasures. As the ceremonies took place, construction workers hurriedly secured key sections of the fire-weakened cathedral, including an area above one of its famed rose-shaped windows.

Fire officials warned that the massive cathedral still remains very fragile and extremely dangerous for construction workers and other specialists. On Thursday, workers using a crane were removing some statues to lessen the weight on cathedral's fragile gables, or support walls, and to keep them from falling, since the section lacked the support of the massive timber roof that burned up in Monday's evening's devastating blaze.

They were also securing the support structure above one of Notre Dame's rose windows with wooden planks.

Several hundred Paris firefighters, who are members of the French military, filed into the presidential Elysee Palace courtyard for a gathering hosted by President Emmanuel Macron to share what his office said were "words of thanks." Top government ministers also attended.

Paris City Hall was holding a ceremony in the firefighters' honor later in the day, with a Bach violin concert, two giant banners strung from the monumental city headquarters and readings from Victor Hugo's "The Hunchback of Notre Dame."

More than 400 firefighters took part in the nine-hour battle to save the 12th-century Notre Dame on Monday. Its spire collapsed and roof was destroyed, but its iconic towers, rose windows, famed organ and precious artworks were saved.

Remarkably, no one was killed in the fire, which began during a Mass, after firefighters and church officials speedily evacuated those inside.

Among the firefighters being honored Thursday is Paris fire brigade chaplain Jean-Marc Fournier, who says he was falsely credited with helping salvage the crown of thorns believed to have been worn by Jesus at his crucifixion.

The chaplain says a team of rescuers broke the relic's protective covering and an official who had the secret code to unlock the protection finished the job. Fournier told France Info on Thursday that his own team arrived on the heels of the salvaging and praised the action "to preserve this extraordinary relic, this patrimony of humanity."

However, Fournier told the daily Le Parisian that he himself was able to save the most precious thing for Catholics from the fire, the cathedral's consecrated hosts. The paper said he climbed on altars to remove large paintings, but that he felt especially proud of another personal salvaging operation: "to have removed Jesus" from the Cathedral.

For Catholics, consecrated hosts are the body of Christ.

Among others honored is Myriam Chudzinski, one of the first firefighters to reach the roof as the blaze raged. Loaded with gear, they climbed hundreds of steps up the cathedral's narrow spiral staircase to the top of one of the two towers. She had trained at the site for hours for just this moment.

"We knew that the roof was burning, but we didn't really know the intensity," she told reporters. "It was from upstairs that you understood that it was really dramatic. It was very hot and we had to retreat, retreat. It was spreading quickly."

She heard a roar, but her focus was on saving the tower. She learned later that it was the sound of the spire collapsing.

Investigators so far believe the fire was accidental, and are questioning both cathedral staff and the workers who were carrying out renovations to the cathedral before the fire broke out. Some 40 people had been questioned by Thursday, according the Paris prosecutor's office.

The building would have burned to the ground in a "chain-reaction collapse" had firefighters not moved as rapidly as they did to battle the blaze racing through the building, José Vaz de Matos, a fire expert with France's Culture Ministry, said Wednesday.

An initial fire alert was sounded at 6:20 p.m., as a Mass was underway in the cathedral, but no fire was found. A second alarm went off at 6:43 p.m., and the blaze was discovered to be consuming the roof.

The island in the Seine River housing Notre Dame at the heart of the French capital remained largely empty Thursday and closed to everyone but residents. Businesses were shuttered and the usual tourist throngs were nowhere to be seen.

The lack of tourists was a significant concern for neighborhood merchants. A large swath of the Ile de la Cite is currently inaccessible, with numerous bridges linking it with mainland Paris closed.

Macron wants to rebuild the cathedral within five years — in time for the 2024 Summer Olympics that Paris is hosting — but experts say the vast scale of the work to be done could easily take 15 years, since it will take months, even years, just to figure out what should be done. Nearly $1 billion has been pledged for the cathedral's restoration.

Benedicte Contamin, who came to view the damaged cathedral from afar Thursday, said she's sad but grateful it's still there.

"It's a chance for France to bounce back, a chance to realize what unites us, because we have been too much divided over the past years," she said.

Cathedral bells rang out across France in a moving tribute Wednesday to Notre Dame and the firefighters.

___

Angela Charlton in Paris contributed.

___

Read and watch all AP coverage of the Notre Dame fire at https://apnews.com/NotreDameCathedral

Source: Fox News World

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Soft Japanese consumer, wages data casts doubt over household sector

FILE PHOTO: Shopper looks at food at a supermarket in Tokyo
FILE PHOTO: A shopper looks at food at a supermarket in Tokyo February 26, 2015. REUTERS/Yuya Shino/File Photo

April 5, 2019

By Stanley White

TOKYO (Reuters) – Japan’s household spending rose less than expected in February and real wages tumbled at the fastest pace in more than three years, raising concerns about the hit to the consumer sector from heightening global uncertainties.

The data is likely to be discussed by policymakers worried that risks to the export sector from ongoing trade disputes may discourage firms from raising wages, which in turn would hurt consumption.

The 1.7 percent year-on-year increase in household spending was less than the median estimate for a 2.1 percent increase and followed a 2.0 percent increase in January.

Taken with separate wages data, also released on Friday, the numbers suggested household income may not be strong enough to underpin consumption at a time when exports and output are weakening due to the U.S.-Sino trade war.

The data also suggest the government could come under pressure to delay a planned sales tax hike and turn to the Bank of Japan (BOJ) for help in supporting the economy.

“Labour shortages are not pushing up wages, and you need wages to rise for inflation expectations to rise,” said Norio Miyagawa, senior economist at Mizuho Securities.

“The BOJ is on hold for now, but it may have to come up with something if there is another downside shock to the economy.”

The growth in household consumption in February was driven by spending on autos and mobile phone charges.

Inflation-adjusted real wages in Japan fell 1.1 percent in February from a year ago, the fastest decline since June 2015.

The soft household sector indicators follow signs of similar weakness in the corporate sector.

Japan’s business mood slumped to a two-year low in the March quarter, a central bank survey showed on April 1, highlighting the impact the Sino-U.S. trade war was having on sentiment and economic activity.

Factories across Japan depend heavily on selling electronic parts and heavy equipment to manufacturers in China, which leaved Japan exposed to tit-for-tat tariffs between Washington and Beijing.

The data on consumer spending and wages is likely to raise concerns about the economy. There are still risks to domestic demand, and expectations may heighten for the BOJ to ease monetary policy further.

The government plans to raise the nationwide sales tax to 10 percent from 8 percent in October to generate extra revenue for rising welfare costs.

Some economists and politicians worry that if this plan is not delayed then consumer spending will weaken after the tax hike.

The BOJ is in a bind over how to manage the economy. Years of heavy money printing and prolonged ultra-low rates have dried up the bond market and squeezed profits at banks, prompting Japan’s banking lobby to urge the BOJ to rethink its monetary stimulus.

However, Japan’s economic outlook this year is weaker than last year’s, which supports the argument that the BOJ will eventually need to come up with some measures to keep already low inflation from slowing.

(Reporting by Stanley White; Editing by Sam Holmes)

Source: OANN

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Japan plans tighter oversight of regional banks’ profits

FILE PHOTO : Bank of Japan Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo
FILE PHOTO : Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo, Japan October 31, 2018. REUTERS/Issei Kato/File Photo

April 3, 2019

TOKYO (Reuters) – Japan’s financial watchdog on Wednesday proposed rules to expand its oversight of regional banks, including broad stress tests, with more focus on lenders’ future profitability.

The move comes in the wake of growing concern among policymakers over the plight of regional banks, which have seen profits hit by years of ultra-low interest rates and an exodus of borrowers moving to bigger cities as the population shrinks.

Under current regulations aimed at pre-empting regional bank failures, the Financial Services Agency (FSA) has focused on whether commercial banks meet minimum capital adequacy ratios and past data in determining whether they are deemed financially viable.

The new rules would include the FSA verifying banks’ core net income and capital adequacy under certain stress conditions for up to five years into the future, and doing this each fiscal year.

The regulator will conduct stress tests to identify which banks could fail to meet the minimum capital adequacy ratio of 4 percent if a big shock, such as a spike in interest rates or credit costs, hits.

If banks fail the stress tests, they could be slapped with business improvement orders.

To help lenders struggling to stay profitable amid low rates and a declining population, a government panel on Wednesday also discussed a plan to ease antitrust rules that will enable some regional banks to merge on a limited basis.

Many Japanese regional banks are grappling with diminishing returns from their traditional lending business, hit by a low-interest rate environment amid the Bank of Japan’s ultra-loose monetary policy.

BOJ Governor Haruhiko Kuroda has said the central bank will be more mindful of the rising demerits of prolonged easing. But he has also stressed the central bank’s priority is to achieve its 2 percent inflation target, signaling that money policy will remain ultra-loose for some time.

(Reporting by Takahiko Wada; Writing by Elaine Lies; Editing by Jacqueline Wong)

Source: OANN

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YouTube Censors Fans Of Alex Jones While Allowing Smears To Flourish

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Ilhan Omar: Obama’s a ‘pretty face’ who got ‘away with murder’

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Source: InfoWars

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FILE PHOTO: Supporters of the Spain's far-right party VOX wave Spanish flags as they attend an electoral rally ahead of general elections in the Andalusian capital of Seville
FILE PHOTO: Supporters of the Spain’s far-right party VOX wave Spanish flags as they attend an electoral rally ahead of general elections in the Andalusian capital of Seville, Spain April 24, 2019. REUTERS/Marcelo del Pozo/File Photo

April 26, 2019

By John Stonestreet and Belén Carreño

MADRID (Reuters) – Spain’s Vox party, aligned to a broader far-right movement emerging across Europe, has become the focus of speculation about last minute shifts in voting intentions since official polling for Sunday’s national election ended four days ago.

No single party is anywhere near securing a majority, and chances of a deadlocked parliament and a second election are high.

Leaders of the five parties vying for a role in government get final chances to pitch for power at rallies on Friday evening, before a campaign characterized by appeals to voters’ hearts rather than wallets ends at midnight.

By tradition, the final day before a Spanish election is politics-free.

Two main prizes are still up for grabs in the home straight. One concerns which of the two rival left and right multi-party blocs gets more votes.

The other is whether Vox could challenge the mainstream conservative PP for leadership of the latter bloc, which media outlets with access to unofficial soundings taken since Monday suggest could be starting to happen.

The right’s loose three-party alliance is led by the PP, the traditional conservative party that has alternated in office with outgoing Prime Minister Pedro Sanchez’s Socialists since Spain’s return to democracy in the 1970s.

The PP stands at around 20 percent, with center-right Ciudadanos near 14 percent and Vox around 11 percent, according to a final poll of polls in daily El Pais published on Monday.

Since then, however, interest in Vox – which will become the first far-right party to sit in parliament since 1982 – has snowballed.

It was founded in 2013, part of a broader anti-establishment, far-right movement that has also spread across – among others – Italy, France and Germany.

While it is careful to distance itself from the ideology of late dictator Francisco Franco, Vox’s signature policies include repealing laws banning Franco-era symbols and on gender-based violence, and shifting power away from Spain’s regional governments.

TRENDING

According to a Google trends graphic, Vox has generated more than three times more search inquiries than any other Spanish political party in the past week.

Reasons could include a groundswell of vocal activist support at Vox rallies in Madrid and Valencia, and its exclusion from two televised debates between the main party leaders, on the grounds of it having no deputies yet in parliament.

Conservative daily La Vanguardia called its enforced absence from Monday’s and Tuesday’s debates “a gift from heaven”, while left-wing Eldiario.es suggested the PP was haemorrhaging votes to Vox in rural areas.

Ignacio Jurado, politics lecturer at the University of York, agreed the main source of additional Vox votes would be disaffected PP supporters, and called the debate ban – whose impact he said was unclear – wrong.

“This is a party polling over 10 percent and there are people interested in what it says. So we lose more than we win in not having them (in the debates),” he said

For Jose Fernandez-Albertos, political scientist at Spanish National Research Council CSIC, Vox is enjoying the novelty effect that propelled then new, left-wing arrival Podemos to 20 percent of the vote in 2015.

“While it’s unclear how to interpret the (Google) data, what we do know is that it’s better to be popular and to be a newcomer, and that Vox will benefit in some form,” he said.

For now, the chances of Vox taking a major role in government remain slim, however.

The El Pais survey put the Socialists on around 30 percent, making them the frontrunners and likely to form a leftist bloc with Podemos, back down at around 14 percent.

The unofficial soundings suggest little change in the two parties’ combined vote, or the total vote of the rightist bloc.

That makes it unlikely that either bloc will win a majority on Sunday, triggering horse-trading with smaller parties favoring Catalan independence – the single most polarizing issues during campaigning – that could easily collapse into fresh elections.

(Election graphic: https://tmsnrt.rs/2ENugtw)

(Reporting by John Stonestreet and Belen Carreno, Editing by William Maclean)

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FILE PHOTO: The logo of the OPEC is seen at OPEC's headquarters in Vienna
FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries at OPEC’s headquarters in Vienna, Austria December 5, 2018. REUTERS/Leonhard Foeger/File Photo

April 26, 2019

JOINT BASE ANDREWS, Md. (Reuters) – U.S. President Donald Trump said on Friday he called the Organization of the Petroleum Exporting Countries and told the cartel to lower oil prices.

“Gasoline prices are coming down. I called up OPEC, I said you’ve got to bring them down. You’ve got to bring them down,” Trump told reporters.

(Reporting by Roberta Rampton; Writing by Makini Brice; Editing by Chizu Nomiyama)

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Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy near Lyon
Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy in Meyzieu near Lyon, France, April 16, 2019. REUTERS/Emmanuel Foudrot

April 26, 2019

By Julien Pretot

MEYZIEU, France (Reuters) – Olympique Lyonnais president Jean-Michel Aulas was wringing out his women’s team shirts in the locker room on a rainy London day eight years ago when he decided it was time to take gender equality more seriously.

It was halftime in their Champions League semi-final second leg against Arsenal at Meadow Park with 507 fans watching and Aulas realized that his players did not have a another kit for the second half.

“Next time, there will be a second set just like for the men, that’s how it’s going to work from now on,” he said.

Lyon have since won five Champions League titles to become the most successful women’s team in Europe and recently claimed a 13th consecutive domestic crown.

They visit Chelsea on Sunday in the second leg of their Champions League semi-final, with a fourth straight title in their sights.

At the heart of their achievements is a pervasive ethos that promotes gender equality throughout the club, starting in the youth academy.

In 2013, Aulas appointed former Lyon and France player Sonia Bompastor as head of the Women’s Academy — the female equivalent of one of France’s top youth set-ups that has produced players such as Karim Benzema, Alexandre Lacazette and Hatem Ben Arfa.

At the Youth Academy, girls and boys share the same facilities.

“Pitches, physiotherapy rooms are the same for all,” the 38-year-old Bompastor told Reuters.

As the girls train under the watch of former Lyon and France international Camille Abily, the screams of the boys practicing can be heard nearby.

The boys and girls also benefit from the same psychological support that includes hypnosis sessions and yoga.

“We have a ‘mental ability’ cell and the hypnotist acts on the girls’ subconscious, on their deeply held beliefs after observing them on and off the pitch,” Bompastor added.

SAME TREATMENT

One message the Academy staff are trying to convey is that girls are as good as boys.

“Women’s nature is such that we have low self-esteem. So self-esteem is a big topic for our girls,” said Bompastor.

This is not the case with the boys, she added.

“Some 14, 15-year-old boys still think they would beat our professional players, we tell them this would not be happening. We still need to work on those beliefs,” she said.

Female players also have to face questions that their male counterparts do not, Bompastor explained.

“In France there is a problem with the way women are considered, there are high aesthetic expectations. So we get heavy questions on femininity, intimate questions that men don’t get,” she said.

OL’s Academy has been held up as a shining example for others to follow, even in the U.S., where women’s soccer has a wider audience than in Europe.

“About one third of the (senior women’s) squad comes from the Academy, we have a good balance,” said Bompastor.

“I’m getting tons of requests from American universities and foreign clubs, who want to come and visit our facilities.”

‘ONE CLUB’

The salaries of the senior players is one area where there remains a large discrepancy between Lyon’s men’s and women’s teams.

While the three best-paid women players in the world are at Lyon with Ballon d’Or winner Ada Hegerberg earning 400,000 euros ($445,520) a year, this figure is dwarfed by the around 4 million euros earned annually by men’s player Memphis Depay.

There is, however, a level of interaction between the men’s and women’s players that is not present at many other clubs.

“When you talk about OL you talk about women and men, you talk about one club and you feel it when you are here or outside in the city,” Germany defender Carolin Simon told Reuters.

“We see it when we play in the big stadium. It’s not ‘normal’ for women’s football,” the 26-year-old, who joined the club last year, added.

Lyon’s female players also enjoy respect from their male counterparts, Simon said.

“It’s very cool, it’s a big honor to feel that it doesn’t matter if you are a professional man or woman. We talk with the men, there are handshakes, it’s a good atmosphere and it’s also why we are successful,” said Simon.

“The men respect us and it’s not just for the cameras.”

Her team mate, England’s Lucy Bronze, sees the men’s respect as key to improving women’s football.

“We might not be paid the same but they are just normal with us, they see us as footballers the same as they are,” Bronze told Reuters.

“Being at Lyon has really opened my eyes. To improve women’s football, it starts with having the respect of your male counterparts. It’s the biggest thing because they can influence so many people.”

(Reporting by Julien Pretot; Editing by Toby Davis)

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FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen
FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen April 24, 2019. REUTERS/Fawaz Salman/File Photo

April 26, 2019

GENEVA (Reuters) – Yemeni authorities have rounded up about 3,000 irregular migrants, predominantly Ethiopians, in the south of the country, “creating an acute humanitarian situation,” the U.N. migration agency said on Friday.

“IOM is deeply concerned about the conditions in which the migrants are being held and is engaging with the authorities to ensure access to the detained migrants,” the International Organization for Migration said.

The migrants are held in open-air football stadiums and in a military camp, it said in a statement.

The detentions began on Sunday in the city of Aden and the neighboring province of Lahj, which are under the control of the internationally recognized government backed by Saudi Arabia and the United Arab Emirates. Iran-aligned Houthi rebels control Sanaa, the capital, and other major urban centers.

Both sides are under international diplomatic pressure to implement a United Nations-sponsored ceasefire deal agreed last year in Sweden and to prepare for a wider political dialogue that would end the four-year-old war.

Thousands of migrants arrive in Yemen every year, mostly from the Horn of Africa, driven by drought and unemployment at home and lured by the wages available in the Gulf.

(Writing by Maher Chmaytelli, Editing by William Maclean)

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U.S. dollar notes are seen in this picture illustration
U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration

April 26, 2019

(Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.

1/DOLLAR JUGGERNAUT

The dollar has zipped to near two-year highs, leaving many scratching their heads. To many, it’s down to signs the U.S. economy is chugging ahead while the rest of the world loses steam. After all, Wall Street is busily scaling new peaks day after day.

Never mind the cause, the effect is stark. The euro has tumbled to 22-month lows against the dollar and investors are preparing for more, buying options to shield against further downside. Emerging-market currencies are also in pain, with Turkish lira and Argentine peso both sharply weaker.

Now U.S. data need to keep surprising on the upside or even just meet expectations. The International Monetary Fund sees U.S. growth at 2.3 percent this year. For Germany, the forecast is 0.8 percent. The U.S. economy’s rude health has given rise to speculation the Fed might resume raising interest rates. Unlikely. But as other countries — Canada, Sweden and Australia are the latest — hint at more policy easing, there seems to be one way the dollar can go. Up.

(GRAPHIC: Dollar outperforms G10 FX – https://tmsnrt.rs/2Dz17S5)

2/FED: UP OR DOWN?

Wall Street is near record highs and recession worries are receding, so as we mentioned above, investors might wonder if the Federal Reserve will start raising rates again.

Such a pivot is unlikely after the Fed killed off rate-rise expectations at its March meeting. And the latest Reuters poll all but puts to bed any risk of rates will go up this economic cycle, given inflation remains below the Fed’s alarm threshold and unemployment is the lowest in generations.

Before the March rate-pause announcement, a preponderance of economists penciled in one or more increases this year. But that has flipped. A majority of those surveyed April 22-24 see no further tightening through December and more are leaning toward a cut by the end of next year.

Indeed, interest rate futures imply Fed Funds will be below the current 2.25-2.50 percent target range by this December.

Recent positive consumer spending and exports data have eased market concerns of a sharp economic slowdown. But inflation probably needs to run hot for a long period to panic policymakers off their wait-and-see course.     

(GRAPHIC: Federal funds and the economy – https://tmsnrt.rs/2DzjTZz)

3/HEISEI TO REIWA

Next week ends three decades of Japan’s Heisei era. Heisei, or Achieving Peace, began in 1989 near the peak of a massive stock market bubble and closes with the country trapped in low growth, no inflation, and negative interest rates.

The new era that dawns on May 1 is called Reiwa, meaning Beautiful Harmony. It begins when Crown Prince Naruhito ascends the Chrysanthemum Throne. But do investors really want harmony? What they want to see is a bit of economic growth and inflation to shake up the status quo.

The Bank of Japan’s stimulus toolkit to revive a long-suffering economy is anything but harmonious and yet it’s set to stay. The central bank confirmed recently rates will stay near zero for a long time. But the coming days may not be harmonious or peaceful for currency markets. A 10-day Golden Week holiday kicks off on April 29 and investors are fretting over the risk of a “flash crash” – a violent currency spasm that can occur in times of thin trading turnover.

The year has already seen two yen spikes and many, including Japan’s housewife-trader brigade – so-called Mrs Watanabes – appear to have bought yen as the holiday approaches. Their short dollar/long yen positions recently reached record highs, stock exchange data showed.

(GRAPHIC: Japan stocks: from Hensei to Reiwa – https://tmsnrt.rs/2W6a7Fe)

4/EARNING TURNING

Quarterly earnings were supposed to be the worst in Europe in almost three years, but with a third of results in, things are looking a little rosier.

Two-thirds of companies’ results have beat expectations, and they point to earnings growth of 4.5 percent year-on-year. Financials have delivered the biggest surprises, according to analysis by Barclays.

That might just show how low expectations were. In fact, analysts are still taking a red pen to their estimates.

The latest I/B/E/S data from Refinitiv shows analysts on average expect first-quarter earnings-per-share for STOXX 600-listed companies to fall 4.2 percent. That would be their worst quarter since 2016 and down sharply from an estimated 3.4 percent just a week earlier.

Those estimates may end up being a little too bearish as earnings season goes on, quelling worries that Europe is heading toward a corporate recession.

GSK and Reckitt Benckiser will give the market a glimpse of the health of the consumer products market and spending on everything from toothpaste, washing powder and paracetamol.

(GRAPHIC: Earnings forecasts – https://tmsnrt.rs/2DuO2ZF)

5/WAITING FOR THE OLD LADY

Sterling has gone into the doldrums amid the Brexit delay and unproductive talks between the UK government and the opposition Labour party on a EU withdrawal deal. The resurgent dollar, meanwhile, has taken 2 percent off the pound in April. It is unlikely the Bank of England will be able to rouse it at its May 2 meeting.

Despite robust retail and jobs data of late, the economic picture is gloomy – 2019 growth is likely to be around 1.2 percent, the weakest since 2009, investment is down and Governor Mark Carney says business uncertainty is “through the roof”.

Indeed, expectations for an interest rate increase have been whittled down; Reuters polls forecast rates will not move until early 2020, a calendar quarter later than was forecast a month ago. The hunt for a new governor to replace Carney in October adds more uncertainty to the mix.

The recent run of UK data has fueled hopes of economic rebound. That’s put net hedge fund positions in the pound into positive territory for the first time in nearly a year. The Old Lady of Threadneedle Street might temper some of that optimism.

(GRAPHIC: Sterling positions – https://tmsnrt.rs/2XJwUXX)

(Reporting by Alden Bentley in New York, Vidya Ranganathan in Singapore; Karin Strohecker, Josephine Mason and Saikat Chatterjee in London; compiled by Sujata Rao; edited by Larry King)

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