Covering costs. Kim Bartmann, owner of six Minneapolis area restaurants, is adding a 3 percent service charge to help cover the cost of providing health insurance for her staff, the Minneapolis/St. Paul Business Journal reported. Bartmann has offered health coverage to employees since 1993, the Business Journal reported. To cover the recent rising costs of insurance, Bartmann has added the surcharge as a line item on receipts so customers know the source of the increase. “We think our customers… Reported by bizjournals 12 hours ago.

Reported by MarketWatch 11 hours ago.

Early Friday morning, the U.S. Senate came within one thin vote of dropping a megaton legislative bomb on the health insurance markets serving roughly 1 in 10 Americans. Republican senators were so eager to keep their promise to repeal the 2010 Affordable Care Act, yet so unwilling to compromise... Reported by L.A. Times 9 hours ago.

Illinois consumers who buy health insurance on the Obamacare exchange will find out in a few days how much more that coverage might cost them next year — and if other states are any indication, it's not going to be pretty.

But the Illinois rate proposals, expected to be publicly released Tuesday,... Reported by ChicagoTribune 5 hours ago.

A last-minute effort to repeal health insurance requirements and taxes was voted down when Senators Collins, Murkowski, and McCain voted against it on Thursday. Reported by Motley Fool 2 hours ago.

This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.

Insurance companies have long based their pricing models and strategies on assumptions about the demographics of their customers. Auto insurers, for example, have traditionally charged higher premiums for parents of teenage drivers based on the assumption that members of this demographic are more likely to get into an accident.

But those assumptions are inherently flawed, since they often aren't based on the actual behaviors and characteristics of individual customers. As new IoT technologies increasingly move into the mainstream, insurers are able to collect and analyze data to more accurately price premiums, helping them to protect the assets they insure and enabling more efficient assessment of damages to conserve resources.

A new report from BI Intelligence explains how companies in the auto, health, and home insurance markets are using the data produced by IoT solutions to augment their existing policy pricing models and grow their customer bases. In addition, it examines areas where IoT devices have the potential to open up new insurance segments.

 Here are some of the key takeaways:

· The world's largest auto insurers now offer usage-based policies, which price premiums based on vehicle usage data collected directly from the car.
· Large home and commercial property insurers are using drones to inspect damaged properties, which can improve workflow efficiency and reduce their reliance on human labor.
· Health and life insurance firms are offering customers fitness trackers to encourage healthy behavior, and discounts for meeting certain goals.
· Home insurers are offering discounts on smart home devices to current customers, and in some cases, free devices to entice new customers.

In full, the report:

· Forecasts the number of Americans who will have tried usage-based auto insurance by 2021.
· Explains why narrowly tailored wearables could be what's next for the health insurance industry.
· Analyzes the market for potential future insurance products on IoT devices.
· Discusses and analyzes the barriers to consumers opting in to policies that collect their data.

To get your copy of this invaluable guide to the IoT, choose one of these options:

1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> *START A MEMBERSHIP*
2. Purchase the report and download it immediately from our research store. >> *BUY THE REPORT*

The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of insurance and the IoT.

Join the conversation about this story » Reported by Business Insider 23 hours ago.

Washington D.C., Jul 29, 2017 / 03:02 am (CNA/EWTN News).- After attempts to block abortion funding in health care failed with the demise of the Senate’s health care bill early Friday morning, pro-life leaders vowed to keep fighting.

“Despite the Senate’s decision not to pass legislation to repeal and replace the Affordable Care Act last night, the task of reforming the healthcare system still remains,” Bishop Frank Dewane, chair of the U.S. bishops’ domestic justice and human development committee, said on Friday.

“The current healthcare system is not financially sustainable, lacks full Hyde protections and conscience rights, and is inaccessible to many immigrants,” he said. “Inaction will result in harm for too many people.”

The Senate’s efforts to pass a bill repealing the Affordable Care Act (ACA) and replacing it met a narrow 51-49 defeat early Friday morning, with Sen. John McCain (R-Ariz.) providing the decisive “no” vote.

After the House passed the American Health Care Act, which both repealed and replaced the ACA, the Senate introduced its own replacement proposal, the Better Care Reconciliation Act.

Both bills were determined by the Congressional Budget Office to result in deficit reductions, but also an increase in the number of uninsured persons over 10 years by 22-23 million.

The bills contained pro-life provisions, but pro-life leaders were concerned that a key pro-life provision – prohibiting any tax credits from paying for health plans with abortion coverage – would not survive in the Senate, as the Senate Parliamentarian could determine that it violated the Byrd Rule.

That rule mandates that when a bill is passed through the process of reconciliation, reserved for budgetary measures and only requiring 50 votes rather than the normal 60 for passage, it must not contain “extraneous matter.” Thus, if a provision did not meet the standards for reconciliation, it would require 60 votes, a near impossibility in the closely-divided Senate.  

Any health care vote would be close, as Republicans currently hold a narrow 52-48 majority in the chamber but two of their members, Sens. Lisa Murkowski (R-Alaska) and Susan Collins (R-Maine) were already opposed to existing Senate health care proposals, along with the defunding of Planned Parenthood.

Thus for any health care measure to succeed without the aid of Democrats, Republicans could suffer no more desertions from party members and would require the vote of Vice President Mike Pence to break a 50-50 tie.

Bishop Dewane had said that the House-passed bill – the American Health Care Act –and the Senate health care proposals included laudable pro-life protections against taxpayer funding of health plans with abortion coverage, but the House bill had “serious flaws,” and the Senate bill was “unacceptable.”

Both bills were flawed because of cuts to Medicaid funding and other provisions that would result in higher health care costs for the poor, the elderly, and the seriously ill, Bishop Dewane said. They also did not offer sufficient conscience protections for health care workers and doctors, he said.

The support of pro-life groups for the health care proposals hinged on two key provisions, Hyde language protecting tax credits from being used to pay for plans with abortion coverage, and stripping Planned Parenthood of federal Medicaid reimbursements for one year.

Efforts to include the provisions in a Senate bill hit a snag on July 21, when the Senate Parliamentarian announced that the protections violated the Byrd Rule and would thus require 60 votes, making their passage all-but-impossible in the closely-divided Senate.

After Senate Republicans were unable to pass their own health care proposals – multiple versions of the Better Care Reconciliation Act – they successfully opened debate on Tuesday to repeal and replace the current health care law, although it was not clear at the time which replacement bill they would ultimately vote on.

Then, the Susan B. Anthony List announced that they would be following the debate closely and working to ensure that the key pro-life provisions were included in a final bill.

“In the coming hours and days, we will be working amendment by amendment to make sure pro-life protections remain in the bill, knowing that all elements of the legislation could be subject to very close votes, as well as decisions by the parliamentarian,” Marjorie Dannenfelser, president of the Susan B. Anthony List, stated on July 25.

During debate on Wednesday and Thursday, multiple ACA replacement proposals were voted down. On Thursday, Senators quickly drafted what was ultimately the final proposal, called “skinny repeal.”

The “skinny repeal” included stripping Planned Parenthood of Medicaid reimbursements and redirecting over $400 million to “federally-qualified health centers” that do not offer abortions. Planned Parenthood Action fought the proposal, saying in a tweet that it would “block patients…from coming to Planned Parenthood for care.”

That amendment, sponsored by Majority Leader Mitch McConnell, repealed the ACA’s individual mandate that everyone purchase health insurance or risk being penalized with heavy fines.

Susan B. Anthony List supported this proposal, saying that Americans would no longer be forced to purchase health insurance “even if their only insurance options cover abortion,” as was previously the case in several states.

According to a 2014 report by the Government Accountability Office, the health exchanges in five states – Connecticut, Hawaii, New Jersey, Rhode Island, and Vermont -- offered only plans with abortion coverage, and none without abortion coverage.

However, Hyde language establishing sufficient safeguards against tax credits being used to pay for abortion coverage still needed to be included in the bill. Sen. Luther Strange (R-Ala.) introduced an amendment on Thursday which he said would survive the Parliamentarian’s standards.

Previously, the Affordable Care Act had actually opened up avenues for taxpayer funding of abortion coverage, through federal subsidies and tax credits being used to pay for plans with abortion coverage offered on the exchanges.

Although an executive order by President Obama forbade the subsidies and credits from being used to pay for abortion coverage – abortions were meant to be billed separately from other coverage in federally-subsidized plans – such promises amounted to only an “accounting gimmick,” former Congressman Joe Pitts explained in a February op-ed in The Hill. They did not constitute real protections against taxpayer funding of abortions, he said.

March for Life Action estimated that, according to numbers from the Guttmacher Institute, 100,000 abortions per year were performed under this ACA “reimbursement plan.” And although the amount of money in available tax credits would shrink under the Senate proposal, the funding of abortions would continue, they said.

Strange’s amendment, the senator explained in a speech on the floor, would protect tax credits from being used to pay for abortion coverage.

It would drop the value of tax credits paying for abortion coverage to 10 percent. “The remaining 90 percent,” he said, would be “made available as Hyde-protected monthly payments to insurers to benefit the same people who relied on those tax credits.”

“For too many, access to healthcare coverage comes only with the restriction of deeply-held personal convictions about the sanctity of human life,” Sen. Strange said on the Senate floor.

“The amendment before us offers us the opportunity to end the flow of taxpayer dollars to abortion procedures, once and for all. It allows Hyde protections to be extended to all funds appropriated through the healthcare legislation we are considering today.”

Finally, the health care bill came to a vote on the Senate floor in the middle of the night on Thursday. Sen. McCain proved to be the deciding vote against the measure, as it failed 51-49. The failure left pro-life groups committed to fighting the funding of abortion coverage under the ACA, which still continues.

“Leaving Capitol. Fight for another day,” Dannenfelser tweeted early on Friday morning.

Later Friday morning, Bishop Dewane said that the current health care system still needs to be reformed, and outlined the principles that must guide future reform.

“A moment has opened for Congress, and indeed all Americans, to set aside party and personal political interest and pursue the common good of our nation and its people, especially the most vulnerable,” he said.

Reform must not include changes to Medicaid and the safety net that would result in reduced coverage or higher costs for “the poor, immigrants, or any others at the margins,” he said.

However, it must include the pro-life protections against taxpayer funding of abortions, as well as conscience protections that were lacking in the House and Senate bills, he said.

And it must “address the real probability of collapsing insurance markets and the corresponding loss of genuine affordability for those with limited means.”

Dannenfelser said that the defeat of the health care bill was only a temporary loss amidst historic pro-life gains.

“With a pro-life House, Senate, and White House, last night we were poised for a big win. It was not the night for that win,” she said.

“This is a set-back in the middle of a succession of tremendous gains. It is emblematic of all successful human rights movements in our nation’s history. The power of the movement which strikes at the human heart and the inexorable march of gains, while interrupted at times, cannot and will not cease until clear and certain victory. Then and only then will we rest.”

The organization will be active in promoting pro-life Senate candidates in next year’s elections, she said, to produce “a bigger, bolder, more courageous pro-life majority” in the Senate.

“SBA List’s field operation – which knocked more than 1.1 million doors in 2016 – has already begun in two 2018 battlegrounds, Florida and Ohio, with an aggressive plan to move into more battlegrounds by the end of the year,” she said. Reported by CNA 17 hours ago.

With the Senate having failed to repeal Obamacare, after a critical "Nay" vote by John McCain crushed Trump's biggest campaign promise shortly after midnight on Thursday, Trump is plans to kill Obamacare slowly, and this time he has vowed to take insurance companies and members of Congress down with it.

The president on Saturday threatened to end key payments to Obamacare insurance companies if a repeal and replace bill is not passed. "After seven years of 'talking' Repeal & Replace, the people of our great country are still being forced to live with imploding ObamaCare!" Trump tweeted, followed by: "If a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon!."



After seven years of "talking" Repeal & Replace, the people of our great country are still being forced to live with imploding ObamaCare!

— Donald J. Trump (@realDonaldTrump) July 29, 2017





If a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon!

— Donald J. Trump (@realDonaldTrump) July 29, 2017



This is not the first time Trump has made a similar threat: the president previously threatened to withhold Cost Sharing Reduction payments, or CSR, which lower the amount individuals have to pay for deductibles, co-payments and insurance. While the White House announced earlier this month that key ObamaCare subsidies to insurers would be paid this month, the administration did not make a commitment beyond July.  Trump's threat may have a significantly adverse impact on the insurance sector when it opens on Monday.

Incidentally, Trump is not wrong when he claims that insurance companies have received implicit taxpayer-funded bailout: as the chart below shows, insurance company stocks are up 700% since Obama became president, more than double the S&P's return.

After the Friday morning Senate vote, Trump wasted no time to threaten to sabotage Obamacare.  “3 Republicans and 48 Democrats let the American people down,” the president tweeted at 2:25 a.m. Friday. “As I said from the beginning, let Obamacare implode, then deal. Watch!”

As Bloomberg notes, there are two key ways the President of the U.S. could undermine the law: *asking his agencies not to enforce the individual mandate created under Obamacare; and stopping funds for subsidies that help insurers offset health-care costs for low-income Americans*. Both moves could further disrupt the Affordable Care Act’s individual markets and eventually lead to higher premiums, or rather even higher premiums that Obamacare itself has led to.

Where does this leave Trump’s implosion threat?

One of the first steps the president could take would be to stop the monthly CSRs. The administration last made a payment about a week ago for the previous 30 days, but hasn’t made a long-term commitment. Trump has called the subsidies a “bailout” for insurance companies in the past, and he just did it again on Saturday.  “We are still considering our options,” Ninio Fetalvo, a spokesman for Trump, said in an e-mail. Meanwhile, America’s Health Insurance Plans, a lobby group for the industry, *said premiums would rise by about 20 percent if the payments aren’t made. *Many insurers have already dropped out of Obamacare markets in the face of mounting losses and blamed the uncertainty over the future of the cost-sharing subsidies and the individual mandate as one of the reasons behind this year’s hikes in premium.



“If certainty is not brought to the market and policymakers in Washington fail to establish stabilization measures, consumers face the prospect of significantly higher costs,” Ceci Connolly, chief executive officer of the Alliance of Community Health Plans, wrote.



Another way Trump could hamper the ACA is to instruct Price’s department to direct little or no support to open enrollment when people sign up for Obamacare plans near the end of the year. It could include ignoring website upkeep, not advertising the enrollment period and offering little help for people who have difficulty signing up.

Finally, the *Trump administration could simply choose not to enforce the penalties surrounding the individual mandate of Obamacare for uninsured people or broaden exemptions to the law*. The Internal Revenue Service, which enforces the penalty, said in January it would no longer reject filings if taxpayers didn’t indicate whether they had insurance. Unless the IRS follows up with each silent filing, this could let some uninsured people dodge the penalty.

As Bloomberg observes, all the moves would have an impact over time. *For now, only one thing is certain: nothing is certain. *As Larry Levitt, senior vice president of the Kaiser Family Foundation, puts it in a series of tweets:“The big question in health care now is what will happen with the individual insurance market,” Levitt said. “Insurers will be reading all the tea leaves for what the administration will do with cost-sharing payments and the individual mandate.”

Actually, one more thing is certain: while opinions on Trump's approach to Obamacare repeal may differ, virtually all Americans can unite behind Trump's threat to finally end bailouts of members of Congress. Whether or not he will follow up and enforce it, is a different matter entirely. Reported by Zero Hedge 7 hours ago.

Reported by L.A. Times 3 hours ago.

Right-wing firebrand Tomi Lahren proudly proclaimed that she doesn’t have to worry about health insurance because she’s only 24-years-old. During the Politicon debate with Chelsea Handler, the comedian asked about Lahren’s healthcare situation. “Well, I’m on my parents ... Reported by Raw Story 1 hour ago.

During a debate between Chelsea Handler and Tomi Lahren at Politicon, Lahren admitted that she was still on her parents’ insurance. After blasting the Affordable Care Act, Lahren explained that she had health insurance thanks to Obamacare. The hypocrisy wasn’t lost on internet viewers an... Reported by Raw Story 23 hours ago.

The International Travel & Health Insurance Journal (ITIJ) is delighted to announce the finalists in this year’s ITIJ Industry Awards.

(PRWEB UK) 30 July 2017

With ITIC Barcelona now on the horizon, the International Travel & Health Insurance Journal (ITIJ) is delighted to announce the finalists in this year’s ITIJ Industry Awards. The companies that have made the final cut are to be applauded for their efforts in the industry over the past 12 months. They represent the best of the best, showing innovation, great customer service and excellence in their chosen field. Watch the video below to find out who the finalists are this year!

http://www.itij.com/awards

Haven’t got time to watch the video? Find out who the finalists are here: http://www.itij.com/awards/awards-finalists-2017

Sarah Watson, editor of ITIJ, said: “I would like to take this opportunity to congratulate our finalists this year; the range of companies from all over the world that have reached this final stage of the competition is testament to the global nature of ITIJ and the industry we serve.”

Ian Cameron, editor in chief of ITIJ, added: “We are very much looking forward to presenting the awards in Barcelona on 9 November, it’s going to be a fantastic occasion, with all the major players in the industry attending the ceremony.”

The Awards will be streamed live online via the ITIJ website, but if you want to see the ceremony live, come and join us in Barcelona: http://www.itij.com/awards/2017-itic-finale-dinner-awards/ Reported by PRWeb 19 hours ago.

Dear Liz: I’ve been self-employed for just over a year. Because of disbursements from a recent divorce, I have enough money to make a 40% down payment on a modest house. My income will easily cover the resulting mortgage payments, health insurance and other expenses, but I've been turned down for... Reported by L.A. Times 16 hours ago.

Reported by SeekingAlpha 11 hours ago.

Tom Price said Sunday that "no decision's been made" on whether to continue key Affordable Care Act subsidies to health-insurance companies, but that the administration's job is "to follow the law of the land." A top White House aide said President Donald Trump will decide soon. Reported by nola.com 10 hours ago.

Judging by muni spreads, Illinois is widely considered the most financially troubled state in the country. However, preppy Connecticut, which has the highest per-capita income in the country and whose capital Hartford has been on the verge of bankruptcy for months, isn’t far behind.

As lame-duck Democratic Gov. Daniel Malloy battles with the legislature – including members of his own party - over passing the state’s budget with a $2.5 billion deficit, the state’s largest newspaper, the Hartford Courant, is highlighting an issue that is emblematic of a nettlesome fiscal problem facing the nutmeg state: its overly generous treatment of state employees through overtime pay, particularly the Department of Developmental Services which operates a string of hospitals serving the intellectually disabled and group homes, that is putting a heavy strain on the state’s already teetering budget.

State payroll data analyzed by the Courant revealed that, through the first half of the year, *37 DDS employees have already earned more than $50,000 in overtime alone, putting a handful of these workers on track to collect $250,000 in pay this year. *By comparison, workers with similar jobs in the private sector with state contracts - *a group that serves 90% of the state’s intellectually disabled patients - *haven’t had a pay raise in 12 years.

This excessive reliance on overtime is the result of a quirk in the regulatory framework that governs how the aging state institutions are run. *Some nurses are on track to earn more this year than DDS Commissioner Jordan Scheff.*



“With half the year to go, one direct-care worker in a facility in DDS's west region, with an annual base salary of $44,000, had already earned $119,000, including $91,170 in overtime alone, payroll records show.* She's on pace to earn $238,000 this year.”*





*“…in the north region, with a base salary of $57,000, had earned $122,500 by mid-year, including $94,000 in overtime since Jan. 1, the records show. At this pace, he'll earn over $245,000, well more than the $138,000 annual salary of the commissioner of DDS, Jordan Scheff.*





More than 250 DDS employees, most of them direct-care workers, had earned at least $25,000 in overtime through June, records show.”



According to the Courant, the state’s excessive regulations governing how state-run health-care enterprises should be staffed, have transformed the Department of Development Services into a massive drain on the state already devastated budget. As a result, the state is hesitant to hire much needed new workers because it’s slowly working to close the state-institutions.



*“For many advocates…overtime illustrates the inequities between the public and private sectors*. There have been calls for several years for more funding for the private agencies serving most of the state's 16,000 intellectually disabled clients. Advocates say the disability community has never been in greater jeopardy, and they have ratcheted up their public protests. Several hundred parents, advocates, and clients attended twin rallies at the Capitol on July 18.”



DDS Head Scheff explains how the state’s powerful public employee are working to preserve the system despite its obvious inefficiencies, adding that the costs of running these hospitals are “not sustainable.”



*"No, it's not sustainable, and it's not cost effective, and it's not in the best interest of the people we support to have out folks working this way,"* Scheff, in an interview last week, said of the overtime situation.

 

He said the budget impasse, funding cuts to the agency, and certain state concessions to the union, such as stopping the privatization of state-run group homes, have hampered the department's ability to reduce costs and shift money to serve clients who have been waiting years for housing support, in-home aides, or other assistance from DDS.”



Furthermore, wasteful regulations that require a ratio of 2.7 on-duty staff for each psychiatric patient at a state-run hospital has also been blamed for ballooning the DDS budget to $1 billion.



*“Advocates who have studied the public and private systems extensively say that a higher staff-to-client ratio in the public sector, about 2.7:1, compared with about 2:1 in the private sector, is a major reason why the public costs are significantly higher. *A study by the legislature's program review and investigations staff concluded that the quality of care provided by state and private workers was the same.”



To be sure, solving the overtime problem at CT’s psychiatric institutions wouldn’t go anywhere near to resolving the state's budget woes which extend far beyond this one sector. But the problem is emblematic of the most intractable financial and political problems facing the state: powerfully entrenched state employee unions, wasteful regulation and programs that commit vast resources to serving a handful of needy individuals.

But the need to close – or at least minimizing – the massive budget deficit is growing inexorably more pressing with each passing day. Back in May, yields on CT’s general obligation bonds surged as plummeting income-tax revenues and a series of downgrades by the major credit-rating houses raised serious questions about the state’s fiscal health. And with the state capital, Hartford, downgraded to junk on June 11, underscoring the threat of an imminent bankruptcy, worries that the state might need to orchestrate a bailout of its once-proud capital have intensified.

And just when the situation was showing signs of stabilizing, a series of corporate defections, including health insurance giant Aetna’s June decision to move its headquarters to NYC – are shrinking the state’s already narrow tax base. Now that Gov. Malloy’s strategy of enticing companies to stay with a mix of tax cuts and the promise of state aid has failed, the state is in desperate need of a new leader to find a way to lure businesses back into the state. The question is who would even want that job? Reported by Zero Hedge 2 hours ago.

Mick Mulvaney, director of the White House budget office, clarified a vague threat issued by President Donald Trump on Twitter on Saturday, saying the president wants members of Congress to bear more of the burden for their heavily subsidized health insurance if they fail to repeal and replace the Affordable Care Act. Reported by Denver Post 20 hours ago.

The outspoken 24-year-old is still on her parents' health insurance plan. Reported by Huffington Post 19 hours ago.

S&P futures rose 0.1% on the last trading day of the month, trailing European and Asian markets boosted by China's July Mfg. PMI, which despite declining from from 51.7 to 51.4, and missing expecations  of 51.5, saw the construction index rise to its highest level since December 13, sending Chinese iron ore futures surging and the European commodity sector broadly higher.



DCE Iron ore futures +6.43% pic.twitter.com/z7TDGWHOkQ

— Sunchartist (@Sunchartist) July 31, 2017



In equities, the MSCI All-Country World Index advanced 0.1%, and the MSCI Emerging Market Index increased 0.3%, while MSCI's broadest index of Asia-Pacific shares outside Japan reversed early losses to rise 0.25%. Stocks have rebounding from Friday’s selloff spurred by raw-material producers on "optimism the global economy is gathering momentum" amid "evidence points to resilient global growth, with investors assessing numbers from the world’s top three economies" according to Bloomberg.

As noted above, China’s official factory gauge showed continued expansion in June, even as it slipped amid government efforts to curb financial risks. Japan’s industrial output expanded in June, while data Friday showed the U.S. economy accelerating in the second quarter. Investors remained wary after North Korea conducted a missile test late on Friday that it said proved its ability to strike the U.S. mainland. The U.S. responded by flying two bombers over the Korean peninsula on Sunday. But early jitters dissipated somewhat, with the Korean won reversing losses. The dollar was down 0.2 percent at 1,120.7 won, after jumping almost 0.7% on Friday. South Korea's KOSPI fell 0.2%.

"The geopolitical overhang will likely keep topside moves in check early in the week as the disorganized U.S. and China policy towards North Korea is not helping matters," Stephen Innes, head of Asia-Pacific trading at OANDA, wrote in a note.

In Europe, Anglo American, Rio Tinto Plc and BHP Billiton helped underpin the advance in the Stoxx Euro 600 Index as miners also propelled the MSCI All Country World Index toward a ninth month of gains. HSBC shares jumped as much as 3% to the highest since November 2014 on a $2 billion buyback as profit rose. Shares have climbed 26% this year, with the lender accounting for 13% of Hang Seng Index’s 24% YTD gain, most after Tencent.

“Global expansion dynamics are well underway,” analysts at Candriam Investors Group wrote in a report. “The European recovery is well on track and is leading to above-trend growth in 2017-18. This has led us to increase our profit earnings expectations for euro-zone equities. The economic news flow is starting to become more supportive in the U.S., while emerging markets are benefiting from a good economic momentum.”

A quick look at the FX book shows the Canadian dollar is biggest loser within G-10, while the yen and euro are mixed. Sovereign yields are near unchanged with the T-note yield at 2.29%. Asian stocks are broadly higher led by Australia and China.  Chinese shares rose 0.6%, buoyed by several leading companies' forecasts for strong mid-year earnings. The blue-chip index and the Shanghai Composite both rose 0.6 percent.  Japan’s Topix index closed 0.2 percent lower after swinging between gains and losses. Australia’s S&P/ASX 200 Index rose 0.3 percent and South Korea’s Kospi index added 0.1 percent. Hong Kong’s Hang Seng Index added 1.1 percent. HSBC was among the biggest contributors to the advance (more below). West Texas crude traded above $50 a barrel for the first time since May, while copper rose to a two-year high and iron ore surged.

In the Asian session, the dollar index climbed with gains tempered by tensions over the weekend between U.S. and Russia, as wells as North Korea. In Europe, Euro, EGBs largely unchanged as euro area July inflation matches estimates. Pound slips against dollar. The Bloomberg Dollar Spot Index edged higher, paring its fifth straight month of declines, as investors prepare for a data-heavy week that will culminate with the release of non-farm payrolls data for July, while Apple, Pfizer, Tesla and Berkshire Hathaway will report earnings. The euro began the week on a soft note as investors waited for second-quarter growth data due Tuesday.  The Swiss franc was little changed against the euro, after posting its biggest weekly decline in more than two years; last week’s selloff was triggered by a host of factors, including stop losses and talk of initial public offer-related flows. The ruble slid 1.2% to 60.2550 per dollar, falling for a third day and the most among emerging-market currencies amid heightened geopolitical risks after Russia ordered expulsion of U.S. diplomats. Russian government bonds fell, driving the 10-year yield higher by 9bps. 

Also overnight, the BOJ maintained its govt bond purchase plans for August unchanged from July. Below are Bloomberg's comparisons between planned purchase ranges for August against those for July and the amounts BOJ offered to buy at the last operations:

· 1-to-3 years: 200b-300b yen vs 200b-300b yen for July, 280b yen on July 28
· 3-to-5 years: 250b-350b yen vs 250b-350b yen for July, 330b yen on July 28
· 5-to-10 years: 350b-550b yen vs 350b-550b yen for July, 470b yen July 28
· 10- to-25 years: 150b-250b yen vs 150b-250b yen for July, 200b yen on July 26
· More than 25 years: 50b-150b yen vs 50b-150b yen for July, 100b yen on July 26
· Up to 1 year: 50b-150b yen vs 50b-150b yen for July, 100b yen on July 26

U.S. crude futures climbed 0.3 percent to $49.87 a barrel, after earlier hitting $50.06, their first foray above $50 in two months. Brent crude advanced 0.5 percent to $52.78, adding to Friday's 2 percent surge. Gold was little changed at $1,268.26 an ounce, after earlier climbing to its highest since June 14.

In rates, the yield on 10-year Treasuries advanced less than one basis point to 2.29%. Germany’s 10-year yield climbed one basis point. Britain’s 10-year yield fell less than one basis point.

Copper climbed 1.1 percent to $2.91 a pound, the highest in more than two years. Zinc gained 1.1 percent, nickel 0.7 percent and tin 1 percent Gold fell 0.2 percent to $1,266.98 an ounce after rising to $1,271.23, the highest since June 14. Gold remains on course for its biggest monthly advance since Feb., with prices trading near highest level in more than six weeks, as speculation that Federal Reserve will go slow on raising interest rates hurts dollar. Bullion for immediate delivery +2.2% this month, most since Feb.’s +3.1%. “U.S. GDP data was weaker than expected and inflation remains subdued, which could damp Fed rate hike expectations,” Guotai Junan Futures says in note. “Gold has scope to rise further in the near term.”

Markets are awaiting speeches by Cleveland Federal Reserve President Loretta Mester and San Francisco Fed President John Williams on Tuesday, for further insight into whether the central bank has turned more dovish in light of recently muted inflation.

"It is easy for uncertainty to increase about the Fed's ability to raise rates next year if inflation remains low. We could see the dollar head below 110.00 yen under such circumstances," said Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo.

The slew of corporate earnings continues. Apple Inc., Tesla Inc., Berkshire Hathaway Inc. and Toyota Motor Corp. are all set to unveil results this week. Pending home sales and Dallas Fed manufacturing activity is expected later on Monday, along with earnings reports from Stifel Financial, Loews and others.

*Overnight Bulletin Summary from RanSquawk*

· European equities trade higher with outperformance in the FSTE (+0.4%) amid gains in HSBC
· USD-index has regained some ground against majors, while EUR inflation data saw the headline meet expectations
· Looking ahead, highlights include Chicago PMI and Pending Home Sales

*Market Snapshot*

· S&P 500 futures up 0.11% to 2,473.00
· STOXX Europe 600 up 0.3% to 379.46
· MXAP up 0.3% to 160.20
· MXAPJ up 0.4% to 529.01
· Nikkei down 0.2% to 19,925.18
· Topix down 0.2% to 1,618.61
· Hang Seng Index up 1.3% to 27,323.99
· Shanghai Composite up 0.6% to 3,273.03
· Sensex up 0.5% to 32,479.54
· Australia S&P/ASX 200 up 0.3% to 5,720.59
· Kospi up 0.07% to 2,402.71
· US 10Y yield +0.35bps to 2.29%
· German 10Y yield unchanged at 0.541%
· Euro down 0.2% to 1.1726 per US$
· Italian 10Y yield rose 2.7 bps to 1.829%
· Spanish 10Y yield fell 3.1 bps to 1.494%
· Brent Futures up 0.2% to $52.61/bbl
· WTI up 0.2% to 49.80/bbl
· Gold spot down 0.3% to $1,266.39
· U.S. Dollar Index up 0.3% to 93.51

*Top Overnight News*

· Inflation in the euro area remained well below the European Central Bank’s goal as policy makers prepare to discuss unwinding stimulus.
· After the collapse of Obamacare repeal, Republicans may have to choose between pursuing another health bill or pushing through a tax overhaul this year, because there’s almost certainly not enough time to do both.
· So how much did it end up taking after European Central Bank President Mario Draghi memorably said five years ago he’d do “whatever it takes” to save the euro? *About 1.2 trillion euros.*
· The Saudi-led alliance that severed ties with Qatar reinstated a list of 13 demands that must be met before talks to resolve the eight-week crisis could start, just as as fresh economic data highlighted the impact of the unprecedented boycott on the Gulf nation.
· Trump’s New Chief Has One Key Asset: Ivanka and Kushner’s Nod
· Trump Hints Ending Subsidies to Insurance Cos if No Bill Passed
· SoftBank Is Said to Plan Making Direct Offer for Charter; Charter Says Has No Interest in Acquiring Sprint
· India Needs 2,100 Planes Worth $290b in 20 Years, Boeing Says
· Astra’s Imfinzi Granted FDA Breakthrough Therapy in Lung Cancer
· J&J Granted FDA Orphan Drug Status for Bedaquiline
· Ford Takes Action to Help Address Concerns of First Responders
· Five Banks Reach $111.2m Total Pact Over FX case, Law Firm Says
· Lockheed Lands $3.69B Advance to Build 50 F-35s for Int’l Buyers
· Alaska Air Says Hacker Accessed Virgin America Worker Passwords
· Koch Network Readies Push for Lower Taxes After Border Tax Kill
· Raytheon’s Troubled GPS III Ground Control Network Slips Again

*Asia equity markets traded mixed ahead of this week's key risk events *and as participants digested Chinese Manufacturing PMI and further provocation from North Korea. ASX 200 (+0.4%) was underpinned by commodity names amid strength in the metals complex coupled with WTI crude's brief reclaim of USD 50/bbl to the upside, while Nikkei 225 (-0.2%) was dampened by broad-based JPY strength. Geopolitical concerns pressured the KOSPI (-0.3%) following another North Korean missile test on Friday which it claimed was capable of striking mainland US, while both Hang Seng (+1%) and Shanghai Comp. (+0.6%) were positive despite Official Chinese Manufacturing PMI data missing estimates, as the Construction sub-index rose to its highest since December 2013. Finally, 10yr JGBs were flat and failed to benefit from the cautious risk tone in Japan, with demand subdued following a lacklustre BoJ Rinban announcement valued at just only JPY 325b1n of JGBs. PBoC injected CNY 160 bin 7-day reverse repos and CNY 80bln 14-day reverse repos. *Chinese Official Manufacturing PMI (Jul) 51.4 vs. Exp. 51.5 (Prey. 51.7). Chinese Non-Manufacturing PMI (Jul) 54.5 (Prey. 54.90)*

Top Asian News

· China Is Said to Ask Waldorf Owner Anbang to Sell Assets Abroad
· BOJ Keeps August Bond Purchase Ranges Unchanged From July
· Biggest Indian Bank Surges as Deposit Rate Cut May Boost Profit
· Sumitomo Mitsui 1Q Net Income Rises 31% to 241.5b Yen
· SMFG Reports 1st Qtr Group Earnings Result
· Panasonic Reports 1st Qtr Group Earnings Result (IFRS)
· Tian Guoli Is Said to Be Named China Construction Bank Chairman

*European bourses are higher across the board this morning led through material names, *following the Chinese Mfg. PMI data, in which the construction index rose to its highest level since Dec'13. Firm earnings and an announcement to plan a USD 2bln share buyback from Europe's largest bank, HSBC (+3%), has lifted financial names higher this morning with support for health care names also seen in the wake of earnings from Sanofi (+1.8%) whereby the Co. also raised their guidance. A cautious start was initially seen for German paper this morning ahead of this morning's Eurozone CPI data with prices relatively unreactive to the release which saw the headline match expectations with core slightly firmer than anticipated. Peripheral debt outperforming its German counterpart with the BTPSs and Bonos tighter by 3bps. Some suggest BTPs are set to benefit from large month-end extensions.

Top European News

· U.K. Consumer Borrowing Cools After Bank of England Warning
· HSBC Rises as Second Quarter of Growth Backs Turnaround Story
· Putin Says Hopes Retaliation Ends Once 755 U.S. Staff Ousted
· Rolls- Royce Shares Fall; Is Said to Caution on Cash Flow to FT
· Greece’s Road to Bailout Exit: 140 Reforms Down, More to Go
· U.K. Takes Two Steps Forward, One Step Back on Brexit Plan
· Italian Unemployment Declines; Jobs Growth Led by Temporary Work

*In currencies, the USD-index begins the week slightly firmer, *rising 0.1% overnight to pull off 15-months lows reached last week amid a raft of soft US data. USDCAD has been the notable mover with bargain hunting the likely catalyst, given Friday's 1% decline. Major support lies around 1.2400 with the pair testing stalling at 1.2410¬20 multiple times last week. *The antipodeans (AUD,NZD) will be in focus this week, *both currencies slightly tailing off their 2Y highs. Last week, AUD reached the highest level since May'15 at 0.8066, however the currency has pulled off somewhat with the Aussie back below 0.80. Focus will be on the RBA statement, in which the central bank may sharpen their language on the AUD to temper its recent surge. NZD hovers above 0.75 with participants likely to keep an eye for latest GDT auction and jobs data which will guide price action. *Cable: *Another central bank to announce their latest decision will be the BoE who will announce their latest economic projections. It is likely the central bank will keep rates unchanged with inflation cooling to 2.6% in June and growth remaining tepid, this has subsequently reduced speculation over a near term rate rise. Since the last meeting, GBP has risen over 3% with the currency now above 1.31. Resistance ahead at 1.3150-60 with additional offers situated at 1.32 (option barrier level).

*In commodities, *Brent and WTI futures up a nudge this morning, the latter met resistance at USD 50. Over the weekend, Shell's Pernis oil refinery had been forced to close after reports of a fire at the 404k bpd refinery. Also, source reports indicate the US could announce oil related sanctions on Venezuela as soon as today in a response to Sunday's election. Industrial metals supported overnight from the Chinese PMI data, which saw Dalian iron ore futures hitting limit up in Asia, while steel rebar soared to a 3Y high. US could announce oil related sanctions on Venezuela as soon as today in a response to Sunday's election, according to sources. Sources added that US is considering banning sales of US oil and refined products to Venezuela, but are not expected to include a ban on Venezuelan oil shipments to the US.

*Looking at today's session, *we will get the Chicago PMI number (60 expected; 65.7 previous), the Dallas Fed manufacturing activity reading (13 expected; 15 previous) for July and June pending home sales (1% expected).

*US Event Calendar*

· 9:45am: Chicago Purchasing Manager, est. 60, prior 65.7
· 10am: Pending Home Sales MoM, est. 1.0%, prior -0.8%; NSA YoY, prior 0.5%
· 10:30am: Dallas Fed Manf. Activity, est. 13, prior 15

*DB's Jim Reid concludes the overnight wrap*

Welcome to the last day of July and the end of one life and start of a new one split between work and childcare, with nothing much in between. It’s likely that August will see a barbell of excitement with decent activity at either end but with a notable slowdown in the middle. This week we see the monthly PMIs/ISMs over the next couple of days which are a crucial barometer on realtime growth momentum, the BoE on Thursday (probably a lower key event after recent inflation numbers) and then payrolls on Friday which is always fun! Then a likely lull for 2-3 weeks before the Jackson Hole Symposium on August 24-26th with guest star Mr Draghi present for the first time since he attended and strongly hinted at QE three years ago. Will he tee-up further autumnal tapering and create some bond volatility?

We saw a little bit of bond vol on Friday after stronger German CPI (HICP 1.5% yoy vs 1.4% expected) saw 10 year Bunds climb from 0.53% to 0.58% in the morning session where they stayed until a slightly weaker than expected US Q2 GDP print (2.6% vs 2.7% annualised QoQ expected) helped see them reverse course again to close at 0.54%.

The US GDP print still represented a significant pick up from Q1 growth but that was revised down from 1.4% to 1.2%. The growth rebound was bolstered by strong Q2 consumer spending data that was in line with expectations at +2.8% SAAR (vs. +1.9% previous). Later in the day we got the final University of Michigan consumer sentiment reading for July which was revised marginally higher from 93.2 to 93.4.

This morning, China’s July manufacturing PMIs were a tad softer than expectations at 51.4 (vs. 51.5 expected; 51.7 previous), partly due to adverse weather conditions such as high temperatures in parts of China and floods in others as well as routine maintenance in some enterprises. There was also a small fall in the non-manufacturing PMI to 54.5 (54.9 previous). Focus will turn to the extent of economic growth in 2H, as China’s policy makers had previously indicated a preference for slower credit growth. Elsewhere, Japan’s industrial production for June beat expectations at 1.6% mom (vs. 1.5% expected; -3.6% previous). This morning in Asia, Chinese related bourses have all strengthened, with the Hang Seng (+0.7%) and the three Chinese markets up ~+0.6%. The Nikkei (-0.1%) and the Kospi (-0.3%) are both marginally weaker.

Global equity markets were on the softer side on Friday as US equities (S&P -0.1%; NASDAQ -0.1%) mostly dipped on the slightly lower than expected Q2 growth. However the Dow bucked the global trend to climb 0.16% (supported by solid results from Chevron) and to another new record close - the third day in a row. Earlier European equities (STOXX -1.0%) struggled as the Euro strengthened on the day and auto makers continue to weaken. Tobacco stocks fell heavily on both sides of the Atlantic as news filtered through that the US Food & Drug Administration plans to look at regulating nicotine levels in cigarettes. Across the region, other markets also softened, with the DAX (-0.4%), FTSE 100 (-1%), CAC (-1%) and FTSE MIB (-0.9%).

Over in government bonds, change in yields were modest for both US Treasuries (2Y: unch; 10Y: unch) and German Bunds (2Y: -1bp; 10Y: +1bp). Other sovereigns also had modest changes, although yields at 10Y slightly increased, while 2Y yields were marginally lower, with Gilts (2Y: -1bps; 10Y: +1bps), OATs (2Y: -1bps; 10Y: +1bps) and BTPs (2Y: +1bps; 10Y: +3bps).

Turning to currency, the US dollar index fell 0.6% on the back of softer Q2 GDP data, but has recovered a little this morning. The Euro/USD strengthened 0.6% to a new 30-month high of 1.175 and Sterling/USD was also up 0.5% to a fresh 10 month high. Commodity markets saw another day of strong performance, with the energy segment broadly higher on the day as oil rose again (WTI +1.4%) to end the week up over 8%. Precious metals were broadly higher (Gold +0.8%; Silver +1.0%), while industrial metals were slightly lower (copper: -0.3%; Aluminium -0.4%). Agricultural commodities were broadly higher on the day as well.

Away from the markets, voting efforts to repeal Obamacare have ended for now. Despite being health stricken, Senator McCain flew in last week to allow the senate to start the debate on healthcare legislation. In the end, it was McCain and two other senators that blocked the skinny repeal of Obamacare on a vote of 49-51 last Friday. Senate majority leader McConnell said “he’ll move on to other legislative business”, but Trump is not giving up, tweeting “…if a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies….will end very soon!” Trump is referring to ending subsidy payments to health insurance companies which help make insurance accessible to poorer Americans. The next payment is due 21 Aug and the Health and Humans Service Secretary Price has said on Sunday that “no decision (on the subsidy) has been made” either way.

The North Korean situation will also be giving Mr Trump some headaches after the state fired off more intercontinental missiles over the weekend. China has condemned the latest tests, but fell short of more aggressive actions as desired by Mr Trump. Conversely, the US has sent bombers to joint military exercises with South Korea on Saturday and the US ambassador to the UN has said “the time for talk is over…China must decide whether it is finally willing to take this vital step (to resolve this situation)..” The Krw/USD was up 0.8% last Friday and is little changed this morning.

Elsewhere, one thing appearing to head in a better direction for Mr Trump is tax reform. The Republicans are now more confident of overhauling the US tax code, with an outcome likely by the end of the year. This follows House speaker Ryan making a concession and ditching his controversial border adjusted tax last week, which was expected to raise $1trn of tax revenue over a decade. Obviously there is still a long way to go though.

Taking a look now at some of the other data out on Friday, in Europe we got advanced reading of France Q2 GDP which increased marginally more than expected to +1.8% YoY (vs. +1.6% expected; 1.1% previous). We also got the preliminary July CPI readings for France which came in line with expectations at +0.8% YoY (-0.4% mom), while German inflation was higher than expected at 1.5% YoY (as discussed above) which was the main story of interest. We also saw a group of Eurozone confidence indicators for July where economic confidence (111.2 vs. 110.8 expected), services confidence (14.1 vs. 13.4 expected) and industrial confidence (4.5 vs. 4.4 expected) beat estimates although the business climate did disappoint (1.05 vs. 1.14 expected). The final reading for the July consumer confidence indicator also saw no revisions from the initial reading of -1.7 (as expected).

Taking a look now at this week’s economic calendar. Today, we have German retail sales (+0.2% mom expected; +0.5% previous) and UK consumer credit data for June due, followed by the Eurozone unemployment rate (9.2% expected) for June and CPI estimate (+1.3% YoY expected) for July. In the US we will get the Chicago PMI number (60 expected; 65.7 previous), the Dallas Fed manufacturing activity reading (13 expected; 15 previous) for July and June pending home sales (1% expected). We kick off tomorrow in Asia where we will get the Caixin China manufacturing PMI reading and the final Nikkei Japan  manufacturing PMI reading for July. In Europe we will get July data for the UK Nationwide House Price index, followed by a first look at the remaining manufacturing PMIs out of Europe and the final July manufacturing PMIs for France, Germany and the Eurozone as a whole. We will also get the advance estimate for Q2 Eurozone GDP. In the US we will get personal income and spending numbers for June and the ISM manufacturing PMI for July. Wednesday is a quiet day in both the Europe and the US with no real data of note outside of ADP and the Eurozone PPI. Thursday’s calendar will round out July PMI data for the week. In Asia we will get the July composite and services PMI numbers for China (Caixin) and Japan (Nikkei). In Europe we get the July PMIs with the final services and composite PMIs for France, Germany and the Eurozone due as well as a first look at some of the same data for the rest of Europe. Thereafter all focus should shift to the BoE policy meeting. Over in the US we should also get jobless claims data followed by the ISM non- manufacturing composite for July. Thereafter we will get factory orders data as well as the final readings for durable and capital goods orders for June. Friday is relatively quiet day for data in both Asia and Europe with only German factory orders data for June due. The US should be in greater focus as the July payrolls number is due along with other labour market data. Alongside that we will also get the trade balance reading for June.

Onto other events, on Tuesday, trade ministers from the BRICS countries will meet in Shanghai. Then Wednesday, the Fed’s Mester will speak at a Community banking conference and the Fed’s Williams will speak in Las Vega’s on monetary Reported by Zero Hedge 16 hours ago.

If, as Republicans claim, the private health insurance system really works, then it’s time for our fine private insurance Reported by Huffington Post 12 hours ago.