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China stock market rout deepens
FT
Shanghai Composite opens down more than 4% as sellers return in force
Related: China's Market-Intervention Folly
WSJ
A retreat from economic reform is the prime obstacle to continued Chinese progress.
Related: China's Yuan Pushes Deeper Into Global Financial System
WSJ
China's currency, otherwise known as renminbi, is now the fifth most used currency for international payments and is about join the U.S. dollar, the euro, the British pound and Japan's yen to be used as collateral at the London Metal Exchange.
Related: China losing control as stocks crash despite emergency measures
Ambrose Evans-Pritchard / Telegraph
Margin debt on the Chinese stock market has reached is $1.2 trillion. 'We suspect that it's a matter of time before banks may have to face the music,' Bank of America says
 
Alexis Tsipras Faces Race Against Time to Secure Greece Bailout Deal
WSJ
Talks on a new bailout program between Greece and its creditors will start on Tuesday, almost a week later than planned
Related: The Greece debt bailout negotiations are really about France, not Greece
Edward Harrison / Credit Writedowns
This post was originally written for Credit Writedowns Pro on 12 Jun before Greece defaulted on loans to the IMF. The situation in Greece is not about Greece at all. It is about enforcing an economic framework onto all Eurozone countries. And because the policy goal is primarily about enforcing ...
Related: Varoufakis defends 'Plan B' tax hack
FT
Greek opposition fury over scheme to set up parallel payments system
 
Fed Officials May Offer More Clarity on Rates
WSJ
Central bank officials are likely to emerge from their meeting Wednesday with short-term interest rates still pinned near zero, though they could send hints that they're getting closer to raising the rates. Chairwoman Yellen has emphasized she expects higher U.S. borrowing costs before year-end.
Related: RRPs for life?
Cardiff Garcia / FT Alphaville
The timing of the Fed's initial rate hike and the subsequent path of future hikes are prominent unknowns on the minds of market participants and commentators. But the question of mechanics - how the Fed will raise rates - also matters. Our colleague Sam Fleming recently interviewed New York Fed ...
Related: Tuesday: Case-Shiller House Prices, Richmond Fed Mfg Survey
Bill McBride / Calculated Risk
Tuesday:• At 9:00 AM ET, the House Price Index for May. Although this is the May report, it is really a 3 month average of March, April and May prices. The consensus is for a 5.6% year-over-year increase in the Comp 20 index for April. The Zillow forecast is for ...
 
Innovation, income inequality, and social mobility
Philippe Aghion ... / VoxEU
In recent decades, there has been an accelerated increase in top income inequality, particularly in developed countries. This column argues that innovation partly accounts for the surge in top income inequality and fosters social mobility. In particular, the positive effect of innovation on social mobility is due to new innovators.
 
Britain should make an ally of its ancient rival
FT
Cameron will need French consent to strike an EU deal
 
Europe Should Learn to Let Go
Leonid Bershidsky / Bloomberg Views
Greek ideas on how to leave the euro were crazy. But there should be an escape hatch.
 
The bond liquidity 'cognitive bandwidth deficit' problem
Izabella Kaminska / FT Alphaville
The laissez faire school of finance has always orientated towards the notion that capital market funding is preferable to bank financing. Why? Because it's only by taking your business to the open market that a borrower's situation can be properly scrutinised and evaluated, and a fair price arrived at. But, ...
 
BOJ: When All Else Fails, Change the Metric
Marc to Market
The Bank of Japan is engaged in the most aggressive asset purchases, and yet it has largely failed to lift inflation. National consumer prices for June will be reported at the end of this week. The headline rate is expected to fall to 0.3% year-over-year from 0.5% in May. This ...
 
The elusive quest for labour market reforms
Tito Boeri ... / VoxEU
Structural reforms of labour markets are almost universally advocated by international institutions. This column argues that some of the labour market reforms implemented in Europe during the Crisis were misguided. One problem is that when reforms are imposed on national governments by international institutions, they can backfire. To address this, ...
 
Amid Economic Woes, Russia Ups Military Spending
Clairmont / The American Interest
With the economy suffering, the Russian president's popularity hinges, largely, on his foreign military adventurism and defiant, powerful image. If that leads him to overspend on defense while he ignores fundamental market problems, as it seems to be, he's asking for his least favorite episode in history to repeat itself.
 
End of Commodities Supercycle? (Energy Subset)
Michael Lynch, Contributor / Forbes
About a decade ago, Goldman Sachs' Arjun Murti suggested an oil might send prices to $105 a barrel. There were two primary reactions to this analysis, first, that Goldman was just marketing its commodity indices, and second, that he/they were crazy. The former view probably continues to be held [...]
 
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China stock market rout deepens
FT
Innovation, income inequality, and social mobility
VoxEU
The bond liquidity 'cognitive bandwidth deficit' problem
FT Alphaville
Britain should make an ally of its ancient rival
FT
Fed Officials May Offer More Clarity on Rates
WSJ
China's Market-Intervention Folly
WSJ
Alexis Tsipras Faces Race Against Time to Secure Greece Bailout Deal
WSJ
As Fed meets, it edges toward its first rate hike since 2006
CNBC
Europe Should Learn to Let Go
Bloomberg Views
Amid Economic Woes, Russia Ups Military Spending
The American Interest
What's this?
Link: Centre for Macroeconomics
Link: Economic and Social Research Council
 
Last Updated: 10:18 GMT     Tuesday, 28 Jul. 2015 Archive About FAQ Home