Last Updated: 01:12 GMT     Wednesday, 26 Nov. 2014 Archive About FAQ Careers Home
Banner: MacroDigest
   
    
At OPEC Meeting, Saudi Arabia Stares Down Texas and North Dakota
Business Week
For the first time in a long time, the ability to determine the price of oil no longer clearly resides with OPEC
Related: No sign of major OPEC cut as ministers haggle before meeting
Geoffrey Smith / Fortune Finance
Crude oil futures fall on reports that any "cut" in supply will fall well short of what's needed to stop prices falling.
Related: This week's OPEC meeting is the most important in years
Steven Mufson / Wonkblog
For most of the past four years, OPEC has had an easy time. The Organization of the Petroleum Exporting Countries hasn't had to do much to keep oil prices over $100 a barrel. Disruptions in supply - most notably the Libyan civil war - and rising demand have kept the ...
 
U.S. (Mostly) Wins With Strong Dollar
A. Gary Shilling / Bloomberg Views
The dollar is stronger against the euro, yen and many other currencies, and it could remain so for a long time. This is mostly good news for the U.S. economy.
Related: Federal Reserve Proposes New Regulations for GE Capital
WSJ Economy
The Federal Reserve proposed a set of tougher rules for General Electric Co.'s GE Capital unit designed to mitigate the threat the firm poses to the financial system.
Related: This is the kind of inflation that Republicans should worry about
James Pethokoukis / AEI
Many Republicans fret about inflation. But it's the wrong kind of inflation that they are worrying about. The problem isn't the government central bank's "money printing," but the government's distortion and inefficient provision of important services. And it is addressing these cost-of-living issues that is at the core of the ...
Related: Inside the New York Fed: What Critics Get Wrong
josh / Fiscal Times
REUTERS/Keith Bedford By Robert Hockett,The Fiscal TimesNovember 25, 2014 I have worked at both the Federal Reserve Bank of New York and the International Monetary Fund, and have long been struck by the sense that neither institution can "win" where its critics are concerned. Both are oft attacked from "the ...
Related: NY Fed: Household Debt increased in Q3 2014, "Deleveraging process has ended"
Bill McBride / Calculated Risk
Here is the Q3 report: Household Debt and Credit Report. From the NY Fed:Aggregate household debt balances increased slightly in the 3rd quarter of 2014. As of September 30, 2014, total household indebtedness was $11.71 trillion, up by 0.7% from its level in the second quarter of 2014, an increase ...
 
House Prices: Real Prices and Price-to-Rent Ratio in September
Bill McBride / Calculated Risk
The expected slowdown in year-over-year price increases is ongoing. In November 2013, the Comp 20 index was up 13.8% year-over-year (YoY). Now the index is only up 4.9% YoY. This is the smallest YoY increase since October 2012 (the National index was up 10.9% YoY in October 2013, is now ...
Expand sublinks   Also:  SMH | Floating Path | FX Street
Related: Closer View of the Housing Boom
Barry Ritholtz / The Big Picture
Click to see the animated changes to the map. Source: Urban Institute
 
Why 4% Growth Doesn't Feel That Hot
Kathleen Madigan / WSJ Economics
The Commerce Department on Tuesday revised up the annual growth rate for third-quarter real gross domestic product. So, why doesn't the U.S. economy feel like it's surging?
Related: How strong is it?
Ryan Avent / Free Exchange
Gauging the health of the American recovery is still no easy thing
Related: U.S. GDP Registers Best Consecutive Quarters of Growth Since '03
Jeffrey Sparshott / WSJ Economics
U.S. gross domestic product expanded at an average 4.25% pace over the second and third quarters this year, the best two consecutive quarters since 2003's third and fourth quarters came in at 5.85%.
 
Bank of England will raise interest rates despite euro gloom, says Mark Carney
Peter Spence / Telegraph
The Bank of England will press on in delivering an interest rate rise despite external threats to the UK economy, Mark Carney tells MPs
 
BOJ Governor Defends Easing
WSJ
Bank of Japan Gov. Haruhiko Kuroda on Tuesday defended the central bank's decision last month to boost its stimulus measures despite a split vote, saying the central bank needed to show its strong resolve to beat deflation.
 
The EU Should Encourage Ukraine's Aspirations
Leonid Bershidsky / Bloomberg Views
Ukrainian President Petro Poroshenko intends to prepare his country for European Union and NATO membership within six years. Some of his fellow East Europeans
Related: China and Russia's "Sphere of Influence" Fallacy
Clairmont / Francis Fukuyama
China and Russia argue that the West would be hypocritical not to grant them their "spheres of influence." Here's why they're wrong.
Related: Vladimir Putin seeks Opec oil deal with direct appeal to Saudi in Vienna
Andrew Critchlow / Telegraph
Russian president hopes oil-producing nations will act collectively to cut production quota to halt a 28pc slide in prices since June
Related: Opec to discuss co-ordination with Mexico, Russia
FT
 
Bundesbank sounds alarm on corporate debt
FT
German central bank warns low rates driving investors to risky assets
Expand sublinks   Also:  FT | Reuters | euronews | OANDA
 
Microsoft to pay China $140 million for 'tax evasion'
Verne Kopytoff, senior editor / Fortune Finance
Tech giant must pay back taxes and interest as Chinese regulators ramp up pressure on U.S. companies.
Related: This Southern Chinese City Wants to Be China's Detroit
Colum Murphy / WSJ China Real Time Report
Related: China's Wealthy Want Their Children Educated Abroad
Business Week
The U.K. is the top pick for high school students, and the U.S. is most popular for undergrad and graduate studies
 
ECB bond-buying: Last action hero
FT
Acquiring euro assets means that investors need to watch out for the portfolio balance effect
Expand sublinks   Also:  WSJ | OANDA | OANDA | euronews
 
Why Obama's immigration plan is a wild card for the U.S. economy
nt2192 / Fortune Finance
The president's executive actions to provide undocumented immigrants temporary relief from deportation does not set a pathway toward permanent legal status, says Scarlett Aldebot-Green, senior policy analyst at New America.
 
EM portfolio flows: bull market back again?
Jonathan Wheatley / Beyond BRICs
Portfolio flows to emerging markets rebounded in November after several months of weakness, according to the latest EM Portfolio Flows Tracker from the Institute of International Finance. Flows for the month were estimated at $25.5bn, consisting of $8.8bn to bonds and $16.7bn to equities, the IIF said. Click to enlarge ...
Expand sublinks   Also:  EconMatters Global
 
Renzi reforms clear parliamentary hurdle
FT
Bill moves to Italian Senate after lower house approves package by 316 votes to six
Related: Italy vulnerable despite ECB, reforms incomplete - Moody's
Gazzetta Del Sud
Rome, November 25 - Moody's said Tuesday that Italy remained vulnerable to financial turmoil despite the efforts of the European Central Bank to boost growth with low interest rates and stimulus measures. "Italy is one of the eurozone countries most exposed (to possible ...
 
When Raising the Minimum Wage Isn't Enough
Alana Semuels / The Atlantic
Vermont has some of the most progressive wage-and-hour laws in the country, but low-income workers are still struggling.
Related: Inequality and the Internet
Brad DeLong / Project Syndicate
Today, nearly every resident of a developed country can easily afford a smartphone, thereby gaining inexpensive access to a universe of human knowledge that, until a generation ago, only the richest could afford. Is it possible that conventional measures of inequality and income vastly underestimate just how good we have ...
 
Hefty government spending ends Brazil's recession, for now
Reuters
BRASILIA (Reuters) - Brazil probably escaped recession in the third quarter due to higher government spending, a Reuters poll showed on Tuesday, suggesting the economy is particularly vulnerable to...
Expand sublinks   Also:  Seeking Alpha
Related: Brazil's Rousseff Seen Naming Joaquim Levy as Finance Minister
WSJ
Brazilian President Dilma Rousseff has picked the former head of the country's treasury, Joaquim Levy, to replace Finance Minister Guido Mantega, according to a person familiar with the situation.
 
The argument that Greece was granted EEC accession prematurely ignores the historical context in which the decision was made
EUROPP
Greece joined the European Economic Community (EEC) in 1981; however the economic crisis experienced by the country since 2010 has led some commentators and politicians to argue that Greece was granted accession prematurely. Eirini Karamouzi writes that while there were legitimate objections to the country being granted membership at the ...
Expand sublinks   Also:  OANDA
 
Follow MacroDigest on Twitter
New
Why 4% Growth Doesn't Feel That Hot
WSJ Economics
House Prices: Real Prices and Price-to-Rent Ratio in September
Calculated Risk
BOJ Governor Defends Easing
WSJ
Hefty government spending ends Brazil's recession, for now
Reuters
Microsoft to pay China $140 million for 'tax evasion'
Fortune Finance
Bundesbank sounds alarm on corporate debt
FT
U.S. (Mostly) Wins With Strong Dollar
Bloomberg Views
Abenomics pushing companies to higher wages... Get 'em
Angry Bear
At OPEC Meeting, Saudi Arabia Stares Down Texas and North Dakota
Business Week
Why Obama's immigration plan is a wild card for the U.S. economy
Fortune Finance
What's this?
Link: Centre for Macroeconomics
Link: Economic and Social Research Council
 
Last Updated: 01:12 GMT     Wednesday, 26 Nov. 2014 Archive About FAQ Home