China hikes the interest rates
China raises benchmark deposit and lending interest rates of all duration by 25bp. We have long anticipated this badly- needed rate hike. Although it is far from enough given China's inflation level, Chinese policymakers are probably going to pay more attention to structural issues for some time.
Wednesday, July 6, 2011
BRAZIL
BRAZIL
The manufacturing PMI survey continued to decline, sliding to 49.0 in June from 50.8 in May, after a recent peak of 54.6 in February, and falling below the 50.0 mark for the first time since late last year.
The manufacturing PMI survey continued to decline, sliding to 49.0 in June from 50.8 in May, after a recent peak of 54.6 in February, and falling below the 50.0 mark for the first time since late last year.
CNNMoney: Lagarde: IMF should focus on employment
Lagarde: IMF should focus on employment
By Aaron Smith @CNNMoney July 6, 2011: 11:34 AM ET
NEW YORK (CNNMoney) -- Christine Lagarde, recently chosen as the new managing director of the International Monetary Fund, said that employment will be her key focus, even more than the fiscal deficits that have swamped the world economy.
By Aaron Smith @CNNMoney July 6, 2011: 11:34 AM ET
NEW YORK (CNNMoney) -- Christine Lagarde, recently chosen as the new managing director of the International Monetary Fund, said that employment will be her key focus, even more than the fiscal deficits that have swamped the world economy.
Bloomberg: Service Industries in U.S. Expand at Slower Pace in Sign Economy Cooling
Related News: US, Currencies, Municipal Bonds, Economy
Service Industries in U.S. Expand at Slower Pace in Sign Economy Cooling
By Alex Kowalski - Jul 7, 2011 5:40 AM GMT+0900
Service industries in the U.S. expanded at a slower pace in June, a sign the economy cooled at the end of the first half of 2011.
Service Industries in U.S. Expand at Slower Pace in Sign Economy Cooling
By Alex Kowalski - Jul 7, 2011 5:40 AM GMT+0900
Service industries in the U.S. expanded at a slower pace in June, a sign the economy cooled at the end of the first half of 2011.
CNBC: 'Perfect Storm' Coming for Global Economy in 2013: Roubini
'Perfect Storm' Coming for Global Economy in 2013: Roubini
Published: Wednesday, 6 Jul 2011 | 4:07 PM ET
By: Jeff Cox
CNBC.com Staff Writer
Weakening economic conditions will come together in 2013 and create a "perfect storm" of global weakness, economist Nouriel Roubini told CNBC.
Published: Wednesday, 6 Jul 2011 | 4:07 PM ET
By: Jeff Cox
CNBC.com Staff Writer
Weakening economic conditions will come together in 2013 and create a "perfect storm" of global weakness, economist Nouriel Roubini told CNBC.
SG: Germany New Manufacturing Orders surge as German companies boost investment
SG: Germany New Manufacturing Orders surge as German companies boost investment
New orders to German manufacturing companies in May were much stronger than expected, rising 1.8% mom, when a decline was expected. This came on top of a 2.9% gain in April.
New orders to German manufacturing companies in May were much stronger than expected, rising 1.8% mom, when a decline was expected. This came on top of a 2.9% gain in April.
Tuesday, July 5, 2011
WSJ: Moody's Gives Banks Greek Debt Warning
BUSINESS JULY 5, 2011, 1:01 P.M. ET
Moody's Gives Banks Greek Debt Warning
By MARGOT PATRICK
LONDON—Banks rolling over some of their Greek debt into new instruments may have to take impairment charges, Moody's Investors Service said Tuesday, in another setback for efforts to involve private bondholders in a new international bailout.
Moody's Gives Banks Greek Debt Warning
By MARGOT PATRICK
LONDON—Banks rolling over some of their Greek debt into new instruments may have to take impairment charges, Moody's Investors Service said Tuesday, in another setback for efforts to involve private bondholders in a new international bailout.
Bloomberg: Greece Needs Long-Term Plan, Not Gimmicks, Economist Sachs Says: Tom Keene
Related News: Bloomberg, Currencies, Europe, US
Greece Needs Long-Term Plan, Not Gimmicks, Economist Sachs Says: Tom Keene
By Joe Ragazzo and Tom Keene - Jul 6, 2011 4:04 AM GMT+0900
The Greek debt crisis will persist if euro-zone policy makers don’t “get realistic” and focus on a long-term approach instead of short-term gimmicks, according to Columbia University’s Jeffrey Sachs.
Greece Needs Long-Term Plan, Not Gimmicks, Economist Sachs Says: Tom Keene
By Joe Ragazzo and Tom Keene - Jul 6, 2011 4:04 AM GMT+0900
The Greek debt crisis will persist if euro-zone policy makers don’t “get realistic” and focus on a long-term approach instead of short-term gimmicks, according to Columbia University’s Jeffrey Sachs.
WSJ: Markets Hub: It's All in the (Jobs) Numbers
Markets Hub: It's All in the (Jobs) Numbers 7/5/2011 11:52:01 AM
Ahead of earnings season, the end of the second quarter may show weakness. 'Ahead of the Tape' columnist Kelly Evans explains why the jobs report is the important indicator to watch.
Ahead of earnings season, the end of the second quarter may show weakness. 'Ahead of the Tape' columnist Kelly Evans explains why the jobs report is the important indicator to watch.
Monday, July 4, 2011
Bloomberg: U.S. Home Prices Set to Climb, Donovan Says
U.S. Home Prices Set to Climb, Donovan Says
By Kim Chipman - Jul 4, 2011 1:00 PM GMT+0900
Prices for U.S. homes may climb as soon as the third quarter, ending declines as foreclosures decline make more home available for sale, Housing and Urban Development Secretary Shaun Donovan said.
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