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This morning's newsletter is coming to you from the greatest city in the world, Denver, Colorado. I'm in town for the National Association for Business Economics conference, so naturally I've been partying pretty hard. #YOLO #MidoriShots

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Situational awareness:

  • HSBC plans to cut up to 10,000 jobs as part of a cost-cutting drive. (FT)
  • Senior Chinese officials have indicated the range of topics they’re willing to discuss in upcoming trade talks has significantly narrowed and will exclude major policy points. (Bloomberg)