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Italy said on Monday its plans for a sharp increase in public spending would not threaten the EU's financial stability, in its formal response to Brussels' strong criticism of its budget plans.  The economy minister, insisted the budget - which defies EU fiscal rules - was needed to restart growth in the eurozone's third-largest economy after a decade of economic stagnation.  Yields on Italian debt fell sharply overnight as Moody's left the country's credit rating above "junk" status. (FT).  

The Shanghai Composite closed up 4.1%, on track for its best day since March 2016, following a Friday jump spurred by signals of government support in the wake weaker quarterly growth figures. President Xi further vowed "unwavering" support for non-state firms over the weekend, while the country's stock exchanges committed to help manage share-pledge risks and the government released a plan to cut personal income taxes. (SA)

 

Finally, in local news, price reductions are becoming more common for single-family homes in Bend.  The average number of list-price reductions jumped 18% from 706 per quarter in 2017 to 833 per quarter through the third quarter this year, according to Central Oregon Association of Realtors data.  (Bulletin)

 

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.
 

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