Posts from Monday Jul 15 2013

The Closer


– “In Silicon Valley, its all Twttr!” Seven years ago todayRead more

An upcoming dehoarding effect in metals?

An interesting bit of news, by way of the FT’s Jack Farchy and Daniel Schäfer this week:

JPMorgan Chase and Goldman Sachs are seeking to sell their metal warehousing units just three years after their controversial entry to the industry, even as a proposed rule change by the London Metal Exchange is likely to reduce the attractiveness of the business. Read more

Bowing to the inevitable in Turkey?

Remember when we suggested Turkey’s choice was to “Raise rates, or carry on throwing FX reserves into trying to stop Turkey being the first EM casualty of the great post-Fed shift in global liquidity”? Well, central bank Governor Basci put what looks like an answer on the central bank website on Monday:

Monetary and fiscal policy uncertainty and the associated volatility have recently been elevated at the global level. The Central Bank will not allow any negative spillovers from these developments to price stability and financial stability in Turkey.

To this end:

 Read more

Markets Live: Monday, 15th July, 2013

Live markets commentary from 

The (early) Lunch Wrap

China’s Q2 GDP growth was 7.5% || Chinese police probe GSK deals || Apple is hiring ‘aggressively’ for its iWatch development || JPM and Goldman are seeking to sell their metal warehousing units || G20 fin mins plan to launch a new phase of the international corporate tax crackdown || Japan PM Shinzo Abe on track for hefty election win || More signs of UK house price rises || Madoff related settlement || Market wrap || FTAV’s latest Read more

China’s GDP and the investment factor

Kate’s already noted some of the oddities in China’s latest GDP data.

But it’s worth re-emphasising the ongoing contribution of investment to the figures. Read more

Some observations and oddities in China’s Q2 GDP

A few thoughts on China’s second-quarter GDP, which came in at 7.5 per cent, in line with expectations:

– The seasonally-adjusted rate is 1.7 per cent. If annualised — ie the way that most countries present their quarterly GDP data — is it just under 7 per cent. Read more

Further reading

Elsewhere on Monday,

– Interest rates are a lousy indicator of the monetary policy stance.

Or not.

Having big banks affects a country’s macroeconomic outcomes. Read more

The 6am Cut London

China GDP 7.5% in line || Asian stocks rise, AUD strengthen || Apple hiring ‘aggressively’ for iWatch development || JPMorgan, Goldman want to sell metal warehousing units || China adds to GSK accusations || G20 ministers planning new corporate tax crackdown || UK house prices still rising strongly || What to make of Lou’s 7% China growth comments Read more