Hong Kong Human Rights and Democracy Act; Simon Cheng says he was tortured; Small rate cuts; Sacklers selling Opioids to China

Happy Wednesday

Quick Hits: What You Need to Know:

• The US Senate passed the Hong Kong Human Rights and Democracy Act. The House of Representatives passed a slightly different version earlier, now the two likely have to be reconciled before being sent to President Trump for signature, but it is close to a done deal and should have a veto-proof majority. PRC officials are not happy, as they have made clear with strident denunciations and threats of countermeasures;

• The bill and China’s anger over it may add more complications to the phase one US-China trade deal, which is still not done;

• Hong Kong citizen and former HK British consulate employee Simon Cheng has gone public about his 15 day detention in the mainland in an explosive Facebook post and series of interviews alleging torture;

• The PBoC slightly reduced key interest rates in a widely expected move, and while some analysts hope this is the start of a loosening cycle there are still no signs of a retreat from the relative financial di…