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Archive Monthly Archives: August 2018

Italian Minister Savona Wants Italy To Withdraw From The 'Funk 1940' Plan: The Euro

Via GEFIRA, Italy’s economic growth is decelerating, which is even more inevitable in view of the country’s population decline. It looks as if the Italian business cycle had reached its peak in 2017, with a meagre 1.5% growth rate, and is now receding.  Within ten years, Italy will have business cycles with only negative highs […]

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Which Emerging Markets Will Run Out Of Money First: Here Is The Answer

For years, in fact for the duration of the US dollar’s use as a global carry currency, Emerging Markets – especially those with a currency peg – were a welcome destination for yield starved US investors who found an easy source of yield differential pick up. All that came to a crashing halt first after […]

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The Sick Man Of Europe Returns

Authored by former German foreign minister Joschka Fischer via Project Syndicate, When the Republic of Turkey emerged from the wreckage of the Ottoman Empire after World War I, its national ambition was to join Europe as a modern, secular state. But after much progress, Turkish President Recep Tayyip Erdoğan has now all but squandered his […]

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US Futures, Global Markets Slide Amid Emerging Market Bloodbath

It is a sea of red on trader screens this morning with U.S. equity futures modestly lower on the last trading day of the month, after European and Asian shares fell following Trump’s latest comments on trade. Emerging Markets were hit again while Treasury yields drifted lower and the dollar rebounded from an early dip. […]

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Rupiah Plunges To 1998 Asian Financial Crisis Low Amid Emerging Market Liquidation

Despite four rate hikes by the Bank of Indonesia since May, the Indonesia’s rupiah slid to a two-decade low, falling to 14,750 per dollar, a level last hit during the Asian Financial Crisis of 1998, and just shy of an all time low, spurring yet another intervention from the central bank as the contagion from […]

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Trump Threatens "Bigger Than Ever" War Games If Korea Talks Fail; Blames China

President Donald Trump threatened that he could begin joint military exercises with South Korea and Japan that will be “far bigger than ever” if progress stalls on North Korea nuclear talks. Trump also blamed Beijing for the lack of progress on North Korea’s denuclearization, saying China has put North Korea “under tremendous pressure” in response to […]

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Is China Losing Control? Yuan More Volatile Than Euro For First Time Ever

For the first time, FX traders are grappling with wilder swings from China than Europe. As Bloomberg notes, the offshore yuan has been more volatile than the euro all month after first overtaking the shared currency in July, according to 30-day realized data. And while euro uncertainty remains relatively bracketed between 6 and 8 for the last two years, […]

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War Of Words Erupts Between Jeff Bezos And Bernie Sanders

It may be time to set aside the long-running Trump-Bezos feud: a new war of words has erupted involving the world’s richest person, and this time his adversary is none other than the polar ideological opposite of President Trump – socialist Bernie Sanders. On Wednesday, Amazon finally had enough of sitting quietly on the receiving […]

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Global Markets Slide As Trade War Fears Return, EM Crisis Grows

The rally that saw US stocks hit a record high for 4 consecutive sessions took a breather overnight as S&P futures and European stocks followed Asian shares lower on Thursday, as trade and geopolitical concerned re-emerged, hurting bullish sentiment. Stock markets and major government bond yields rose in recent weeks on hopes that a global […]

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EU Willing To Scrap Car Tariffs In US Trade Deal: Politico

Trump’s hard ball negotiating tactics appear to be bearing some fruit, with Politico reporting that Brussels is willing to scrap tariffs on all industrial products, including cars, in trade talks with the United States, EU trade chief Cecilia Malmström said Thursday. “We said that we are ready from the EU side to go to zero […]

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