Posts from Wednesday Mar 5 2014

The Closer


– Why recovering assets from deposed kleptocratic politicians isn’t easy. Read more

Markets Live: Wednesday, 5th March, 2014

Live markets commentary from 

The (early) Lunch Wrap

US and Russia to hold talks as markets rally || Russia spends $11bn supporting rouble || Beijing signals growth concerns || Mark Carney signals start of reviews on bank bonuses || Standard Chartered suffers first profits fall in a decade || Solar cell maker heads for first corporate bond default in China || Japan looks to Bitcoin tax || Spanish yield at 8-year low || Markets Read more

Deflation risk, UK edition

The ECB’s deflation problem has been well covered.

Years of mass media conditioning that the UK has an inflation problem, however, have assured that the BoE’s flirtation with disinflationary pressure has by and large been overlooked.

But there are clues that this might become a problem soon enough. Read more

Further reading

Elsewhere on Wednesday,

– If you thought @GSElevator was actually taking place in a GS elevator, you’re an idiot.

– What Putin really wants.

– No, Putin is not a cunning geopolitical chess player.

– Deflation and the ECBRead more

China solar credit does not equal gold

Things you don’t expect on the night before a dovish National People’s Congress announces a 7.5 per cent growth target include… the announcement of the probable default of tiny corporate “11 Chaori Bond” which, if it comes to pass, would be China’s first onshore corporate bond default.

From the FT:

Shanghai Chaori Solar Energy Science & Technology, a Chinese maker of solar cells, announced on Tuesday that it would not be able to pay the Rmb89.8m ($14.6m) annual interest on a Rmb1bn bond that it issued two years ago.

 Read more

The 6am London Cut

Markets: Asian bourses climbed, joining global stocks in a relief rally as tension between western powers and Russia over the Crimean peninsula “dissipated” – in the words of Vladimir Putin. (Financial TimesRead more