German business confidence fell for a fifth month even after the European Central Bank stepped up plans to revive the faltering euro-area recovery. The Ifo institute’s business climate index, based on a survey of 7,000 executives, dropped to 104.7 in September from 106.3 in August. Economists pr…
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German Business Confidence Drops for Fifth Month as Risks Remain
The Wall Street Journal is reporting that the Securities and Exchange Commission is investigating investment firm Pacific Investment Management Co. for artificially boosting returns of the Pimco Total Return ETF, a product aimed at retail investors. It is the giant bond fund’s flagship exchange t…
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SEC Probing Pimco For Artificially Boosting Returns
Vladimir Putin has a secret agent in his campaign to curb the impact of sanctions on Russia’s economy: Mr. Yuan. That’s what skeptical bankers started calling Igor Marich after he introduced yuan trading in Moscow in 2010, when Russia became the first country outside China to offer regulated ren…
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Moscow’s ‘Mr. Yuan’ Builds China Link as Putin Tilts East
The Architecture Billings Index, an indicator of U.S. non-residential building activity, fell slightly in August, after hitting a seven-year high the previous month. The ABI stood at 53.0 in August, down from 55.8 in July, the American Institute of Architects said on Wednesday. The index, base…
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U.S. Architecture Billings Index falls in August
Federal Reserve Chair Janet Yellen says she wants investors to be prepared for the possibility that the Fed will raise interest rates sooner than they currently project. Her words are going unheeded. Volatility across stocks, bonds and currencies worldwide is close to record or multi-year lows, e…
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Yellen Warns on Market Calm Before ’Considerable Time’ Up
but does see risk of “too low” inflation; monetary policy to stay accommodative a long time; policy to stay expansionist until inflation near 2%; Speaking on Europe1 Radio; sayd he” hates” the expression ” sick man of Europe”; I guess that last comment refers to the Eurozone a…
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ECB’s Draghi says he doesn’t see risk of deflation
The UBS consumption indicator for August confirmed that private consumption is indeed slowing down, as indicated by second-quarter data. The indicator slumped from 1.67 to 1.35 points in August. The decline was fueled by all the subindicators. New car registrations, for example, dropped…
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UBS consumption indicator: Downward trend continues
Wednesday is a relatively quiet day for macro numbers, although Ifo’s monthly profile of business sentiment in Germany will be closely watch for evaluating the mood as Europe’s primary economy struggles with a slower rate of expansion. Later, a couple of releases on the US real estate market – d…
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3 Numbers: German business index showcases mood, US loans, US homes
Hindsight is a wonderful thing, especially when it comes to explaining market crashes. Six times in the past 50 years US equities dropped more than 30 per cent in 12 months. After most of them investors looked back at glaring warning signs and were baffled that they missed them. If the S&P 500 were…
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The glaringly obvious guide to the next crash
Bruce Hottle’s $10,000 computer systems upgrade in February at his Pennsylvania concrete plant may be his last investment for another two years. More than 1,100 miles south in suburban Miami, Maggie Cruz-Ledon and her husband have set a 2015 deadline to buy a house, upping their budget in the pro…
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Housing to Top Capital Spending in Next U.S. Growth Leg
Asian stocks slipped on Wednesday as U.S.-led air strikes in Syria curbed appetite for risky assets, while the dollar was kept in check after U.S. yields fell on geopolitical woes and dovish statements by a Federal Reserve official. Tracking overnight declines on Wall Street, MSCI’s broadest inde…
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Asia stocks hit by Syria air strikes, lower yields check dollar
The champagne has stopped flowing in Beijing, and Joerg Wuttke couldn’t be happier about it. President Xi Jinping’s crackdown on everything from gift giving to excessive wining and dining is leveling the business playing field, said Beijing-based Wuttke, president of the European Chamber of Comme…
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Palm-Greasing End Means Xi Graft Crackdown May Aid Growth
Deutsche Bank is out with its periodical FX Blueprint today in which DB maintains its bearish EUR views advising clients to stay short EUR/USD targeting 1.25 by year-end. DB outlines 6 reasons behind this view: 1. Real Yields Are Finally Turning. Nominal rate differentials have been moving…
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Euro Pah!: 6 Reasons For Selling EUR/USD Targeting 1.25 – Deutsche Bank
Jack Ma is now officially China’s richest man, just days after he floated Alibaba in the world’s biggest IPO. …
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Alibaba founder Jack Ma now China’s richest man
Key points: Flash Japan Manufacturing PMI™ at 51.7 (52.2 in August).Moderate improvement in business conditions in September. Flash Japan Manufacturing Output Index at 53.4 (52.9 in August). Solid growth for second month running. Amy Brownbill, Economist at Markit, which co…
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Japan manufacturing production remains in growth territory
The S&P Index peaked on Friday – the day of the biggest IPO of the year for Alibaba. The price at the high extended JUST above the topside trend line connecting most recent highs. That line came in at 2017.80. The high reached 2018.90, but closed below. HMMM. …
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S&P Index showing some chinks in the technical armor
Time will tell and the death of this bull run has be proclaimed amny times without any discernible change it what has been a very solid march higher for a number of years now. For the moment though with the US dollar gaining ground and markets shifting their outlook to higher rates the preconditions…
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A seismic shift in markets as stocks swoon and US dollar strength reverses Aussie and Yen rally
BREAKING
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Japan PM Abe says wants to be careful about impact on local economies from recent Yen weakening
German prosecutors on Tuesday filed criminal charges against the co-chief executive of Deutsche Bank, Jürgen Fitschen, and several former bank leaders, accusing them of colluding to give false testimony in a long-running lawsuit over the collapse of a bank client’s media empire….
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German Prosecutors Charge Deutsche Bank Executives
Globalization, as many have recently noted, is in retreat. Despite all of its undeniable benefits, it has spawned problems of governance and management that have exposed the inadequacy of national governments and international institutions. …
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Rebooting Globalization
