Daily Agenda: Oil Slumps Ahead of OPEC Meeting

Oil prices bounced back only modestly in early trading on Monday after a sharp sell-off on Friday ahead of this week’s Algiers summit between members of the Organization of Petroleum Exporting Countries and Russia to discuss possible production caps. Commodity Futures Trading Commission data released for the week ending on September 20 suggest that speculators are not holding out much hope for a significant outcome from the meeting, with bullish positions in listed derivatives markets declining for the 14th consecutive week while bearish bets rose. Some cash-starved smaller producers have called for large curbs while others, such as Libya and Iran, have ramped up production. The question of Saudi Arabia’s willingness to make cutbacks has been central to sentiment in crude-oil markets. There are clear signals that Saudi Arabia is increasingly feeling the pinch of low energy prices. Today theSaudi Arabian Monetary Agency, the central bank, announced a liquidity injection of more than $5 billion for lenders to combat rapidly rising rates resulting from oil-prompted withdrawals from bank coffers. The move comes in advance of Saudi Arabia’s first international bond sale which is expected to bring in $10 billion in October.

Clinton, Trump running neck and neck ahead of debate.在今晚的第一次总统辩论之前GOP NOMINEE DONALD TRUMPand the民主党人的希拉里克林顿，新的投票表明比赛仍然关闭。当被要求在两者之间选择时，彭博政治国家民意调查表明选民大致崩溃了。单独进行投票Washington Postin conjunction with ABC news that was released on Sunday found that Clinton held a slight lead but one that had eroded from a prior 8 percent to only 2. The event will be held at Hofstra University on Long Island.

European regulators consider ChemChina Syngenta merger.In a statement issued today, the European Commission targeted a deadline of October 28 to rule on China National Chemical Corp.’s proposed $43 billion acquisition of Syngenta. U.S. officials have already blessed the deal, which would position state-controlled National Chemical, better known as ChemChina, as the world’s largest pesticide producer. The announcement comes as concerns have arisen over the competitive effects of a recent series of megamergers within the agrichemical industry.

Moody’s lowers Turkish debt to junk status.Moody’s Investors Service reduced the sovereign debt rating of Turkey on Friday to the noninvestment grade Baa3 because of weakening economic fundamentals and the geopolitical impact ofPresident Recep Tayyip Erdogan’s handling of a July coup attempt。埃尔多安和经济部长Nihat Zeybekci都大幅批评了埃尔多安使用不成功的政变后巩固权力并消除竞争对手后所谓的政治偏见的国际评级机构。土耳其里拉周一拒绝所有主要货币。

German business confidence improves.IFO研究所周一发布的数据包括两年多的商业情绪指数的最高读数。商业气候特定调查指标增加到109.5与协商一致意见，而目前的条件和预期特定指数也上涨。由于德国公司套房的情绪似乎反弹，该国最大的贷款人继续面临挑战。德意志银行的股份于周一的早期交易中遇到了一项历史胜利，因为投资者通过美国监管机构的要求担任贷款人备案，以解决抵押贷款证券销售的诉讼。

特种化学品的跨境收购。德国车mical additives producer Lanxess announced an agreement today to acquire U.S. rival Chemtura Corp. in a cash deal valued at more than $2 billion. The bid, which represents an almost 20 percent premium to Friday’s closing share price for Chemtura, will be financed through bond issuance. In structuring the deal Lanxess will abandon a previously announced share-repurchase program.

Singapore firm buys a stake in滚石。周末，Wenner Media确认它已同意在旗舰出版物中销售49％的所有权滚石to BandLab Technologies, a digital music company. The move represents a partnership between two heirs: BandLab is run by Meng Ru Kuok, son Singapore agribusiness magnate Kuok Khoon Hong, while Wenner Media is led by Gus Wenner, son of Rolling Stone founder Jan Wenner. The two firms plan to partner on developing the Rolling Stone brand internationally. The iconic publication has faced pressures similar to many established media firms in recent years, as declining print advertising revenues have not been fully offset by digital ones.