Posts from Tuesday Mar 12 2013

The Closer


FT markets round-up:“Stocks are struggling for traction as the bull run that has taken many equity barometers to multiyear or, in some cases, record highs endures one of its periodic pauses. The FTSE All-World index is down 0.2 per cent, retreating from its latest four-year peak as the FTSE Eurofirst 300 gained 0.1 per cent and after the Asia-Pacific region shed 0.3 per cent. Wall Street’s S&P 500 is slipping 4 points from its best close in five years of 1,556, while the Dow Jones Industrial Average is trading near its previous record close of 14,447.” (Financial TimesRead more

Corporates always gonna get theirs first in recoveries

Last week continued a healthy discussion of the national income share that goes to capital versus labour. Or in layman’s terms, companies versus workers.

An earlier version of the discussion focused on whether technology or monopolistic behavior or some other non-cyclical reason was to blame. But the more recent iteration has been more about whether the trend has been exacerbated in the current recession-and-recovery period, contrasting the robustness of the corporate recovery against the sluggishness of jobs and income growth. Read more

Do markets dream of electric androids?


Last weekend I attended Robots on Tour, a robotics, humanoids and cyborg exhibition put together by the Zurich-based Artificial Intelligence Laboratory at the University of Zurich. Read more

Beyond month 60 in the bunker, life was getting pretty tetchy

Another update by NIESR of its monthly UK GDP projections… another prediction of flatlining growth, now extending into the first two months of 2013.

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Breaking bad

Rising inflation expectations and a diving Great British Krona helped another leg downhill on Tuesday by dire production data.

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Markets Live: Tuesday, 12th March, 2013

Live markets commentary from 

China’s shale frenzy and the technology hurdle

Hardly anyone, it seems, believes that China’s shale gas efforts are going to hit paydirt any time soon.

Reuters wrote yesterday that the shale gas revolution risks ‘running further off track’ — and this is before it has even begun to produce any significant volumes. Read more

The (early) Lunch Wrap

Good morning, New York

It’s the second business day that London and NYC are only four hours apart thanks to Daylight Savings Time. Just think of how much easier transatlantic communications would be if it was always like this. Sigh… Read more

This is your lending scheme. This is your lending scheme on drugs. Any questions?

Breaking: deputy prime minister Nick Clegg has hit soundbite pay dirt.

In Tuesday’s FT he is quoted as saying that the Funding for Lending Scheme, whereby financial institutions get cheap loans from the Bank of England to boost credit to the wider economy, should be “put on steroids”.

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Further reading

Elsewhere on Tuesday,

– What’s cheap?

– The Fed, illustrated.

– Europe’s hungryRead more

The 6am Cut London

Asian shares lower || Yen weakens on Iwata comments || FLS ‘on steroids’ || Commerzbank’s £5bn sale draws interest || Finance industry sector fights TBTF || Hungary goes ahead with constitutional changes || Gross cuts Treasuries || Heritage-Tullow Ugandan tax case begins || Dead pigs in Shanghai water supply Read more