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Oil markets extend gains after biggest daily climb in six years
Reuters
SEOUL (Reuters) - Crude oil futures rose on Friday, adding to their biggest one-day rally in over six years the day before, led by recovering equity markets and news of diminished crude supplies.
Related: Big Oil Faces Prospect of Lower Refining Profits
WSJ
For much of the past year, the world's biggest energy companies suffered through an oil-price rout with one silver lining: Their little-loved refineries were churning out big profits again. Now, that bright spot could be fading, even as oil prices sink.
Related: OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?
Dalan McEndree / Oil Price
"If you are the world's leading energy economy, you produce energy, that's what you do." "A government can stay irrational longer than it can stay solvent." "Even in the short term, you're dead, if you commit suicide." The first quote modifies a GEICO commercial describing a free-range chicken (If you're ...
 
China local pension funds to start investing $313 billion soon
Reuters
BEIJING, Aug 28 (Reuters) - China's local pensions funds will start investing 2 trillion yuan ($313.05 billion) as soon as possible in stocks and other assets, Vice Minister of Human Resources and...
Related: The hedge funds that have won (and lost) from the China market turmoil
Marion Dakers / Telegraph
A busy week for the world's financial markets has produced massive price movements
Related: The Verdict on China's Easing of Foreign Property Rules? A Resounding 'Meh'
Esther Fung / WSJ China Real Time Report
Beijing's move to loosen restrictions for foreign homebuyers is unlikely to help the country regain its crown as a darling of investors.
Related: Investors pull record $29.5 bln from equity funds in China-driven rout: BAML
Reuters
LONDON, Aug 28 (Reuters) - Investors pulled a record amount of money out of global equity funds in the week to Aug. 26, according to Bank of America Merrill Lynch, a measure of the alarm that China's...
Related: Expert Take on China's Consumers
Laurie Burkitt / WSJ China Real Time Report
China's economy is largely propelled by its exports and infrastructure, which are fading away -- but another driver, consumer spending, is holding up.
 
GDP data show surprising lift in UK trade
FT
Business investment also strong as overall quarterly growth confirmed at 0.7%
Related: The special relationship: UK and US bond yields
bankunderground / Bank Underground
Take a look at UK and US 10-year government bond yields over the past few decades and you'd struggle to say which was which. In the words of the FT last year, "The benchmark 10-year Gilt might as well be draped in the stars and stripes". And even relatively short ...
 
UPDATE 1-Two Fed officials pressing for rate hikes unfazed by market volatility
CNBC
Louis Fed President James Bullard told Bloomberg in an interview from Jackson Hole, Wyoming, where central bankers from around the world are converging for an annual meeting. But Loretta Mester, president of the Federal Reserve Bank of Cleveland, said the volatility has not changed her view that the U.S. economy ...
Related: The craze to raise
Jared Bernstein
I just don't get this business about having to raise rates at the Fed, and now how it's all like: hmmm, this China/markets thing may force us to push out the liftoff...but, as per Bill Dudley, president of the NY Fed, "I really do hope we can raise interest rates ...
Related: Whose Recovery?, or, Where Is the People's Central Bank Woodrow Wilson Thought He Was Creating?
Brad DeLong / Grasping Reality
**Jackson Hole 2015 Weblogging:** 10-Minute Talk ---- ----
Related: The Fed should meet in a less elitist spot
Jared Bernstein
Just a quick follow-up from yesterday's PostEverything piece on the "Fed Up" campaign's trip out to Jackson Hole, WY, to pressure the Fed not to raise rates on behalf of low-wage workers. In my interview with Fed Up member Dawn O'Neal, a teaching assistant at an Atlanta day-care center, she ...
Related: Some Fed thoughts: QE4 and all that
Matthew C Klein / FT Alphaville
After a considerable period of boredom, trying to figure out America's central bank has gotten interesting again. For months, the mid-September meeting of the Federal Open Market Committee was being telegraphed as the most likely start date of the process. Or, to use another bit of central banker-ese, the day ...
Related: Fed Watch: The Right And Wrong Arguments For September
Mark Thoma / Economist's View
Tim Duy: This September meeting is the gift that keeps on giving. Right now it is giving by the shear quantity of truly bad commentary arguing for a rate hike next month. Let's back up a few weeks. Prior to...
Related: The Fed's Goldilocks Problem
Mohamed A. El-Erian / Bloomberg Views
The central bank wants markets to get used to a little more churn, but not too much more.
 
Market Rally Starts to Lose Steam
WSJ
European stocks opened lower and U.S. futures pointed to losses, despite gains in Asia and a rebound in commodity prices.
Related: Bob Murphy on Efficient Markets
Scott Sumner / Money Illusion
Bob Murphy is frustrated, but he's lashing out at the wrong theory: I understand the Efficient Markets Hypothesis, and I think it's a very good way to take a first crack at the markets. The thing that annoys me about many EMH proponents is that they think they are being ...
Related: Ratings agencies aren't doing enough to anticipate market volatility
Nouriel Roubini / Globe and Mail
An early warning system for financial tsunamis that is systematic and data-driven may be difficult to create, but investors need one today more than ever
Related: Global equity funds witness biggest exodus
CNBC
Investors yanked $29.5 billion out of global equity funds in the week ended Aug 26, the biggest single-week outflow on record.
Related: Shiller: Rising Anxiety That Stocks Are Overpriced
Mark Thoma / Economist's View
Robert Shiller: Rising Anxiety That Stocks Are Overpriced: Over the five trading days between Aug. 17 and Aug. 24, the U.S. stock market dropped 10 percent - the official definition of a with similar or greater drops in other...
 
Eurozone business, households more upbeat
Dow Jones newswires / Business Spectator
August data indicates Q2 growth slowdown unlikely to become a more severe downturn.
Related: China's turbulence exposes risks to Europe's growth
WSJ
The Eurozone's heavy reliance on exports leaves the region vulnerable as emerging markets stumble
 
Greek economic growth in second quarter revised up
U.S. News
ATHENS, Greece (AP) - Greece's statistics agency says the country's economy grew slightly faster than earlier forecast in the second quarter of the year.
Related: SPECIAL REPORT-How the IMF's Greek misadventure is changing the fund
Reuters
* Strauss-Kahn was allegedly on way to push for debt relief when arrested
Related: Tsipras gambles on outright poll victory
FT
With his Syriza party split, many see the Greek prime minister's optimism as misplaced
 
Japan Inflation Stalls and Spending Slides, Keeps Policymakers Under Pressure
Reuters / NY Times
Japan's consumer inflation ground to a halt for the first time in more than two years and household spending unexpectedly fell in July.
Related: Japan not in deflation, yet
CNBC
Consumer prices in Japan were unchanged from a year earlier in July, defying expectations for a fall.
Related: Japan's Central Bank Is China's Biggest Cheerleader
William Pesek / Bloomberg Views
Tokyo is desperate to keep its biggest growth engine running.
 
Ukraine Secures Debt-Relief Deal
WSJ
Ukraine's government secured a vital debt-relief deal, the country's finance ministry said, a key step toward unlocking billions of dollars in emergency financing.
 
How Many Equations Should There be in Macroeconomic Models ?
Robert Waldmann / Angry Bear
Recently a very old debate among macroeconomists has been reopened (this happens from time to time). Paul Romer decided to discuss a key conference held in 1978 (yes really). Some (including me) think that's about when the profession took a wrong turn largely following Robert Lucas. But in the discussion ...
 
Emerging Market Rip Tide
WSJ Opinion
The Federal Reserve encouraged malinvestment that is hurting global growth.
Expand sublinks   Also:  CNBC
Related: EM portfolio flows negative in August
FT
Outflows led by equity investors, though bond flows also turned negative during the month
 
Economic Inequality Is Not Immoral
Harry G. Frankfurt / Bloomberg Views
Comparisons with others don't teach you anything about yourself.
 
Sweden's monetary drama could turn noir
Julia Bradshaw / Telegraph
The Riksbank cannot go on lowering interest rates further into negative territory - this is a completely untested approach
Expand sublinks   Also:  FX Street
 
By Another Measure, U.S. Economic Growth Has Nearly Stalled This Year
Eric Morath / WSJ Economics
A big upward revision to GDP has reassured some economists the economy is on solid footing. But a less closely watched number provides a fair amount of caution.
Expand sublinks   Also:  NY Times | The Times
 
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New
Greek economic growth in second quarter revised up
U.S. News
Eurozone business, households more upbeat
Business Spectator
Market Rally Starts to Lose Steam
WSJ
UPDATE 1-Two Fed officials pressing for rate hikes unfazed by market volatility
CNBC
GDP data show surprising lift in UK trade
FT
Emerging Market Rip Tide
WSJ Opinion
Oil markets extend gains after biggest daily climb in six years
Reuters
Japan Inflation Stalls and Spending Slides, Keeps Policymakers Under Pressure
NY Times
GLOBAL MARKETS-Asia extends global stocks rally as upbeat US GDP soothes sentiment
Reuters
The Fed's Goldilocks Problem
Bloomberg Views
What's this?
Link: Centre for Macroeconomics
Link: Economic and Social Research Council
 
Last Updated: 14:37 GMT     Friday, 28 Aug. 2015 Archive About FAQ Home