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  • Editor’s Picks / 2 hours ago

    Global economy's 'Titanic' problem: HSBC

    The Telegraph
    The global economic recovery is dangerously close to stalling and if China chooses to abandon its crawling dollar peg, it could unleash a further deflationary shock across the economy plunging the world back into crash territory, warns HSBC. With zero interest rates proliferating, the available policy tools to handle the next crunch are dwindling rapidly, akin to the Titanic hoping to navigate perilous seas without the security of lifeboats. If the low-growth malaise continues, there will be no ammunition left for the world's central bankers to effect policy if indeed there is another crash.
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  • Calendar event / 4 hours ago

    ES PPI

    forecast
    actual
    Low PPI, Y/Y
    -1%
    Low PPI, M/M
    +0.4%
  • Editor’s Picks / 5 hours ago

    Asian shares edge down on US rate hike bets

    Reuters
    Asian shares got off to a lacklustre start on Monday, after rising inflation and a hawkish tone from the US Federal Reserve Chair rekindled expectations that the Fed is on track to hike interest rates. Activity was likely to be thin this session, as UK and US markets shut on Monday for the Spring Bank Holiday and Memorial Day respectively. European centres such as Germany will be observing the Whit Monday holiday. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.1% in early trade. Japan's Nikkei stock index added 0.3%, getting a tailwind from a weaker yen and trade data released before market open showed a better-than-expected rise in April exports. US shares fell and Treasury yields and the USD rose on Friday.
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  • Calendar event / 6 hours ago

    SG CPI

    forecast
    actual
    Med All Items Yearly % Chg
    -0.1%
    -0.5%
    Med CPI Food Yrly % Chg
    +2.1%
    Med CPI Housing Yrly % Chg
    -3.7%
    Med CPI Transport Yrly % Chg
    -1.4%
  • Editor’s Picks / 8 hours ago

    Robocars and hyperloops: 10 tech predictions from VCs

    Wall Street Journal
    Five venture capitalists vied to predict the future, in an annual event that shows Silicon Valley at its silliest and most prescient. The winner — again — was Draper Fisher Jurvetson partner Steve Jurvetson, who predicted the rise of “robocars,” autonomous electric vehicles that he said will eventually take us everywhere. Robocars will be more fuel efficient than today’s cars, more cost effective than mass transit and will make human drivers look less safe, he said. Jurvetson sits on the board of Tesla Motors, which is developing a self-driving car, and he believes air travel would be safer without pilots.
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  • Editor’s Picks / 9 hours ago

    Oil bears miss out as record US refinery demand drives rally

    Bloomberg
    Oil speculators missed out as record demand from US refineries helped trim supplies from their highest level in more than eight decades and drive prices higher. Hedge funds and other money managers reduced their net-long position in West Texas Intermediate crude by 7.1 percent in the seven days ended May 19, the most in two months, US Commodity Futures Trading Commission data show. Short positions anticipating lower prices expanded by 30 percent. Crude snapped a five-day decline the following day after US production fell to a three-month low and inventories slipped to the least since March. Demand from refineries is the strongest for this time of year on record as they prepare for the nation’s peak driving season.
    Read article on Bloomberg
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  • Article / 9 hours ago

    Greece's half-baked solutions no longer palatable

    Managing Partner / Spotlight Group
    United Kingdom
    Greece's half-baked solutions no longer palatable
    Greece desperately needs to strike a deal with its creditors otherwise it will not be able to make its debt repayment to the International Monetary Fund in June. The country needs leaders who will stop whining that they are being denied access to both the bond markets and their bailout aid. They have only themselves to blame when it comes to the stalled bailout program.
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    1h
    fxtime fxtime
    Sadly the disfunctional political powers of the EEC and ECB will mean a capitulation of sorts whereby the 7billion euro will be passed onto the Greek economy...