Archive for July, 2012
File not found. Greek deposits outflow continued to be elevated in June
Greek Bank deposits outflow remain elevated in June.
Economy, United States. 27 July, 2012, 1:16
US Q2 GDP Preview
Consensus is looking for 1.4% annualised growth (real term) in Q2, down from 1.9% in Q1.
Mario Draghi: ECB will do “whatever it takes to preserve the euro”
Mario Draghi suggests that the ECB will do “whatever it takes to preserve the Euro” within ECB’s mandate.
Companies in Wenzhou are warned about liquidity crisis
As Wenzhou manufacturing sector is under pressure, Zhejiang government warned about liquidity crisis.
Chart: foreign currencies deposits continued to increase in China
Corporate China continues to pile up US dollar as Chinese Yuan depreciates.
Citi: Probability of Greek’s Euro exit rises to 90%
Citi now sees the probability of Greek’s exit of the euro area at 90%.
Financials, World. 26 July, 2012, 15:53
Basel III is hurting some European bank shares
Some European banks will be hurt by the Basel III as they deemed undercapitalised.
Economy, United States. 26 July, 2012, 15:14
Chart: “Rubbish” indicator points to sharp slowdown in US economic activities
Waste carloads indicator is pointing to sharp slowdown in US economic activities.
Fitch revised Macau’s 2012 casino revenue forecast downward
Fitch has revsied Macau casino revenue forecast downward the the second time in less than 2 months.
China’s economy may bottom out in Q3, says NBS official
National Bureau of Statistics’ official suggests that China’s growth will bottom out in Q3
The true reasons why China “may refrain from more easing”
IMF official suggests that China may “refrain from more easing”. Here are the true reasons why this could be the case.
What Ewald Nowotny did not say regarding the ESM banking license
Market was excited about what ECB’s Nowotny said about the ESM banking license, except he did not really say anything.
Economy, United Kingdom. 25 July, 2012, 16:41
UK’s GDP fell 0.7% in Q2, worse than expected
UK’s GDP fell by 0.7% in the second quarter compared with the first quarter after a 0.3% contraction in the first quarter, much worse than the expected contraction of 0.2%. The Official for National Statistics attributes the fall partly on the Diamond Jubilee and record rainfall. Source: ONS
German IFO business confidence missed estimate for July
German IFO Business confidence fell further in July and missed estimates.
Steelmaker’s default highlights overcapacity and impact of slowing economy
Chongqing Iron and Steel Company has technically defaulted on some of its obligation in the past few years.
Financial pressure on local governments limits ability to stabilise growth
Slowing economy also impact local government revenues, thus questions are raised on whether they can implement growth measures.
4 reasons why you should stop believing in Chinese leadership
Here are some reasons why you should stop believing in Chinese leadership when it comes to the economy.
Spain’s CDS spread is converging toward Portugal’s level
As Spanish yields reach one record high after another on a daily basis, CDS spread is converging towards Portugal’s level.
Chart: China’s thermal electric power output fell 4.2% yoy in June
Thermal electric power output growth fell 4.2% yoy in June.
French and German Manufacturing PMIs fall further in July
French and German manufacturing PMIs for July point to further contraction.