The latest Alphachat features IMF economist Manmohan Singh, who discussed his work in recent years on the importance of pledged collateral and its reuse in financial markets.
It was a wide-ranging interview that included long stretches of wonky analysis, so we’ve provided a time guide below if you want to jump around and included some relevant links if you want to explore some of these topics further. Read more
Live markets commentary from FT.com
Samsung earnings disappoint despite strong smartphone sales || Central banks send clear signal on interest rates || Morsi loyalists set to protest in Egypt || Japan banks step up interbank lending controls || China’s Rongsheng warns on profits || SAC Capital’s Steven Cohen expected to avoid criminal charges || Rupert Murdoch remarks secretly recorded || Markets Read more
Elsewhere on Friday,
– Affirmative action in Japan, with bonus entrenchment statistics.
– MMT in the NYT. Now with further reading.
– Roach v. Pettis (on China). Read more
Asian stocks rose, following strong gains in Europe, although weaker-than-expected earnings from Samsung weighed on the Kospi which fell 0.2%. The Nikkei and the Hang Seng both rose 1.5% and the ASX was 0.9% higher. (Financial Times)(Bloomberg)
TODAY: US non-farm payrolls. Consensus forecast is for an increase of 165,000 jobs in June. (Financial Times) Read more