July 25, 2014
- Slower
Japan inflation in June
- CPI
excluding food ▲ from a year earlier
- It
is because sales-tax increase in April. The government expects to see its goal,
2% inflation rate later this year.
- However,
it may not easy since exports are weak, recovery in consumption has been slow
and real income isn’t growing.
- Right
now, Japan suffers from deflation and sale-tax looks for ▲consumption while
Abe-economic depreciates Yen to increase exports. Yet statistic data shows that
it is still tough.
- China
July HSBC flash PMI at 52, an 18-month high
- It
showed most of 11 sub-indices that measure output, domestic and foreign demand
improved substantially from June.
- World’s
biggest wealth fund reviews $8 billion Russian stake.
- It
is reassessing its holdings in Russia as the EU considers sanctions against the
country.
- The
European Commission presented today a package of measures including the option
of banning purchases of shares sold by Russian state owned banks.
- Russian
stock market▼; Russia seems to be a threat to foreign investment.
- The
benchmark ▼6.7% this year; Ruble ▼ by 6.2% this year.
- S&P
warns Kazakh credit risk is ‘extremely high’ on banks
- Kazakh
banks were burned by debt default after a collapse in real-estate prices
- S&P
says that their risk appetites remain aggressive, reflecting opportunistic growth
by some small and mid-size Kazakh banks as well as banks’ continued financing
volatile real estate and construction projects.
- S&P
predicts Kazakh lenders’ assets will surge about 15% in 2014~2015; outpacing
GDP of 4.5%~5%
- Kazakh’s
38 banks had 32.2% of loans overdue by more than 90 days of July 1, compared
with 30% last year and 33.5% in May
- Argentine
debt mediator says time running short for deal
- Argentina
faces its second default in 12 years unless it either pays the holdouts their
court-awarded $1.33 billion plus accrued interest on defaulted bonds or agrees
to a settlement
- Argentina
can pay for it. Yet it is afraid of its outcome that other creditors might
litigate and it might pay about up to $15 billion to creditors.
- IMF
cuts 2014 global forecast after slowdowns in China and U.S.
- The
world economy will advance 3.4% in 2014, less than 3.6% in April and stronger
than last year’s 3.2%
- Next
year’s growth will be 4%, compared with 3.9% in April
- Global
growth is expected to rebound from the second quarter, but downside risks
remain a concern
- Increased
geopolitical risks could lead to sharply higher oil prices
- Financial
market risks include higher-than-expected U.S. long-term rates and a reversal
of recent risk spread and volatility compression
- Global
growth could be weaker for longer, given the lack of robust momentum in
advanced economies despite very low interest rate and easing of other breaks to
the recovery
- In
the U.S, the inventory overhang at the end of 2013 turned out to be larger than
expected; exports declined sharply, demand dampened, and output contracted in a
first quarter of 2014.
- In
China, domestic demand moderated more than expected, reflecting the authorities’
effort to rein in credit growth and a correction to real estate activity.
- In
other emerging market economies, weaker-than-projected growth resulted both
from weaker external demand and, notably from the U.S and China, and, in a
number of cases, softer demand with weaker investment growth.
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