This week on FT Alphaville…
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Political change in a democratic republic can be painfully slow, and thus even the improved chance of a meagre and incremental positive change is a good enough excuse to celebrate when it comes.
Further dispatches from the Danish Institute for International Studies’ conference in Copenhagen on “Central Banking at a crossroads”.
Today we focus on the new age of collateral-based finance and the presentation given by Manmohan Singh (speaking in an independent capacity rather than as a representative of the IMF). Read more
Another month, another payrolls number in the 150k range — except this one comes with big positive revisions to the prior two months. The unemployment rate ticked up slightly, but careful with this report, as it includes an updated population estimate in the household survey, and also the annual benchmarking in the establishment survey to reflect a new count of total jobs. Read the explanations at the bottom of the release for detail.
From the BLS: Read more
Live markets commentary from FT.com
US banks squeezed as mortgage profits hit || Hagel grilled by angry Republicans || US challenges AB InBev’s Modelo deal || Explosion at Mexico’s Pemex HQ kills 25 || Wasendorf jailed for 50 years for fraud || Markets update: a tentatively positive start to month Read more
The big story on Friday concerns the terms and structure of Qatar’s life-saving support for Barclays at the peak of the financial crisis in 2008. As Daniel Schäfer, Caroline Binham and Simeon Kerr report, the key issue is whether Barclays lent Qatar the money to buy shares in the bank. Read more
China’s official January manufacturing PMI fell to 50.4 from 50.6 while the HSBC survey rose to 52.3 from 51.5.
And yet it seems like only yesterday we were puzzling over why the HSBC survey seemed so much more bearish than the official figures… Read more
China’s official manufacturing PMI falls, HSBC rises || Asian markets mixed, Japan rises on positive earnings || Barclays probed over whether it loaned money for Qatari stake || ‘London Whale’ warned others about his trades || US challenges AB InBev’s Modelo deal || Explosion at Pemex kills at least 14 || Samsung’s share of tablet market doubled in Q4 Read more