Coaches welcome WTA trial of allowing coaching from box

By Sudipto Ganguly

MELBOURNE (Reuters) – Coaches have welcomed the WTA Tour’s decision to allow them to help players from the stands this season after the issue became a hot-button topic in the wake of the 2018 U.S. Open final when Serena Williams (NYSE:) was controversially penalized.

Williams’s coach Patrick Mouratoglou gestured to Williams during her defeat by Japan’s Naomi Osaka at Flushing Meadows, leading to a code violation and sparking a heated row between the American great and the chair umpire.

Coaching from the stands would still be banned at Grand Slam events but the top women’s tour was quoted by ESPN.com as saying it would trial the new system at all WTA Premier and International tournaments this year.

Darren Cahill, coach of women’s world number three Simona Halep, said it was a step in the right direction.

“I think as an industry, a coaching industry in tennis, it’s important that we do evolve and do this,” he said on Monday.

“I’m really for it. I think the WTA is doing a good thing.”

The WTA, which has allowed players to call their coaches onto court at certain points during matches, said in the ESPN report: “The new trial will allow coaches to coach their player in the form they are currently coaching from the box without getting penalized.

“Whether it’s verbal words of encouragement or few words when their player is on the same side of the court to any hand signals, such coaching as it takes place now from the box will be allowed.”

Australian Cahill said he would have little to offer from the box, even in similar situations to Monday when his player Halep was yelling at the stands and whacking her racquet into the ground.

“Even today, you know, if I was allowed to coach today, you’d be surprised how little coaching the coaches will do if they’re allowed to do it,” said Cahill, who has also worked with Lleyton Hewitt and Andre Agassi.

“The reason why probably a lot of it goes on at the moment is because you’re not allowed to do it so you’re trying to get the sneaky coaching message across.

“But if you were allowed to do it, it’s a simple one line, ‘Hey, Simona, hold your line’. Okay, that’s coaching. But it’s not over-the-top coaching.”

Artemon Apostu-Efremov, who is also part of Halep’s coaching staff, hoped the trial would be a success.

“I think it’s a step that should have been taken quite a while ago, because coaches are part of the game,” he said.

“Mostly in all the sports you see coaches interact with the athletes.”

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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A city 1000km from Wuhan just declared a full lockdown

Shantou, a city of 5.5m on the southern coast will go on lockdown

Shantou, a city of 5.5m on the southern coast will go on lockdown

The city of Shantou on the southern coast of China in Guangdong province has announced it will be the first outside of Hubei province to go on lockdown.

That means no individual, vehicle or boat will be allowed to entering the city beginning on January 27. What’s different here is that Hubei cities are preventing people from leaving; in Shantou, they’re baring them from entering.

The choice of this city is extremely concerning. There are only 2 confirmed cases there and many are speculating this is a sign that the entire country is about to be put on lockdown. While that would be economically devastating in the short-term, it would be China’s best chance of halting the spread of the virus.

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Confirmed death total now 41 in China (from 26 previously)

A rise of 15 from the last official estimate.

CNBC is reporting that the  death toll from the coronavirus has been raised to 41 in China. That is up from 26 previously (a gain of 15). 

The number of new confirmed cases in the province also rose by 180, including 77 in Wuhan city.

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BOJ’s Kuroda: Still far away from 2% inflation target

Kuroda says that the BOJ will continue accommodative policy for some time

BOJ Kuroda
  • Core inflation remains low
  • Japanese domestic demand fairly strong
  • Expects strength in business investment to continue

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The usual stuff from Kuroda so far in Davos. The remarks from the panel discussion have been a bit boring and I doubt they will get more interesting in the final half-hour.

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Four dead as mystery illness spreads from China

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World – CBSNews.com

The jump from trend to bubble is faster than ever

What’s the rush?

What's the rush?

I love this quote from George Soros because it is more true every day. He said it in his book on the crash of 2008 but he might be talking about fake meat, marijuana or electric cars today.

We can all see trends towards environmentalism, renewables, e-commerce, the internet, eating out and TV streaming along with a dozen other things. The reaction function of the market is to identify a trend and throw money at it in a virtual gold rush, hoping that one day the claims will pay.

Last year we saw it in WeWork. Co-working was undoubtedly a trend and WeWork was the biggest and best-known name in the space. SoftBank and others drove the company valuation into the stratosphere but it all came crashing down when the collective conscience of the world realized the business model could easily be replicated.

The big macro trend of the generation is low and falling inflation. We’re at the point now where every bond investor — voluntarily or not — is betting on low inflation. The perception (or perhaps misconception) is that inflation will stay low forever. If the market is wrong, it would be the mother of all financial busts. The bond market is worth more than $ 100 trillion with a myriad of derivatives layered on combined with endless knock-on effects, like mortgage rates.

Other trends are less controversial but misconceptions abound. Renewable energy is coming and the age of fossil fuels will one day end. Yet just in the past few years we’ve seen a dramatic drop in investment in fossil fuels. While a 50-year investment in a oil field is a bad idea, there is unceasing demand for the next 15 years. If no one is bringing on new production in the meantime, what happens to the price?

I often think about the paradox of a remote mining town. With mines, you usually know the lifespan so you know when it will close, everyone will be out of a job and the local economy will collapse. That leaves the housing market in a precarious spot. At the end of the line, you want to be a renter but somewhere before that, it makes more sense to buy. When exactly is the crossover? As the time winds down, you would assume there is massive demand for rentals and that market could become completely disconnected. Any way you look at it, the volatility would skyrocket.

That’s how I see the fossil fuel era ending. It’s like a mine right now that has a short life. It’s past the point where people are investing in projects that have a payback period of more than 30 years. Yet it’s still highly uncertain when oil won’t be needed anymore. One belief was that shale was a perfect bridge because it could be ramped up quickly and operations have short shelf lives. However that turned out to be a misconception itself and wells are costing much more.

The final piece of the puzzle is price. I think it’s inevitable that we get a spike in oil prices but even at $ 80, $ 90 or $ 100 we may find that companies are loath to invest because the market won’t reward it and won’t believe high prices will last.

Markets are the best way to price anything but in a changing world, be wary of identifying any ‘trend’ and assuming it will lead to profits.

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Turkish State Banks Sell $1 Billion to Spare Lira From Rout

(Bloomberg) — Turkish state lenders sold between $ 1 billion and $ 1.5 billion to stem the lira’s decline on Friday, according to three people with knowledge of the matter.

The sales appear to have been triggered by a global flight from riskier assets as tensions between the U.S. and Iran escalated, two of the people said.

The lira slipped as much as 0.4% amid the rout to a seven-month low of 5.9781 against the dollar, posting one of the smallest declines across emerging-market currencies.

State banks have sold dollars to prop up the lira over the last year, especially in times of heightened volatility, traders say. The currency is a key economic barometer for voters and a driver of consumer confidence.

But the practice has been a source of controversy, with speculation mounting the sales amount to veiled intervention by the central bank. It’s also made trading the lira less attractive for foreign investors.

In the run-up to municipal elections in March, state banks sold as much as $ 15 billion to support the currency, according to traders’ estimates. In the second week of October, transactions amounted to at least $ 3.5 billion amid fears that punitive measures from Washington could deal a fresh blow to the Turkish economy.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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New York Fed Nowcast Q4 GDP estimate dips to 1.1% from 1.2% last week

The Q1 estimate for GDP growth comes in at 1.0% vs 1.5% last week

The New York Fed’s Nowcast estimate for Q4 growth dips to 1.1% from 1.2% last week.  The employment component of the ISM subtracted -0.04% as did the my son composite index.  Data revisions added 0.04%.  

The Q1 estimate for GDP growth comes in at 1.0% vs 1.5% last week

As if the current quarter is hard enough to estimate, the New York Fed also has model to estimate the 1st quarter GDP. For that they see GDP growth declining to 1.0% from 1.5% in the prior week.

The biggest negative was the ISM composite index which attracted -0.26% (see the table below). The employment index subtracted -0.19%.

The 1Q GDP estimate comes in at 1.0% from 1.5% last week. The Atlanta Fed will be releasing their estimate for GDP sometime today. On December 23, they saw GDP growth at 2.3%.

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Yuan to gain from U.S.-China deal but vulnerable: ex-currency regulator

SHANGHAI (Reuters) – The will benefit from a de-escalation of Sino-U.S. trade tensions but is vulnerable to possible volatility in cross-border capital flows, a former Chinese foreign currency regulator told the China Business News.

The interim deal reached by Washington and Beijing means trade frictions have ameliorated, reducing uncertainty and boosting market confidence in the yuan, the newspaper said, citing Guan Tao, a former official at the State Administration of Foreign Exchange.

Guan warned, however, that a slow recovery in global growth and lofty asset prices could cause global market fluctuations, which in turn could bring wild swings in cross-border capital flows that impact expectations regarding the yuan.

Guan expected China to use both macroeconomic and structural monetary policy tools to counter an economic slowdown next year, China Business News reported.

But China should learn lessons from Japan’s experience and refrain from using strong stimulus, which could result in asset price bubbles and long-term economic stagnation, Guan was quoted as saying.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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