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  • Editor’s Picks / 3 hours ago

    Best approach? Ignore the Fed

    BloombergView
    There is only one phrase that matters to markets as far as the US Federal Reserve and its intentions towards the inevitable interest-rate hike are concerned and that's "data-dependent". The rest is all noise and you would do well to take the regular Fed briefings with a pinch of salt, says Barry Ritholtz. The Fed has only two concerns - keeping employment and inflation in check and with both of those under control, "the data remain far stronger than anyone in the midst of the financial crisis would have imagined," he says, and that means normalisation of interest rates before Christmas.
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  • Editor’s Picks / 6 hours ago

    EU left ready to fight after Greek lesson

    The Telegraph
    The battleground for a new ideological war in Europe has been drawn between left and right stoked by the EMU elites who "are refusing to shift course," writes Ambrose Evans-Pritchard, with Greece proving to be the harshest of lessons for those on the left. Pablio Iglesias, leader of Spain's extremist Podemos party, has told his supporters that they must be prepared to up the ante after the fate of Greece, temporarily at least, damaged the left wing party's credentials domestically by demonstrating the EMU creditor powers will come down like a ton of bricks on anyone who tries to buck the system. Elsewhere, ex Italian deputy minister Stefano Fassina is calling for "an alliance of national liberation fronts" to counteract the status quo as embodied by Germany, calling for a return to national currencies and an end to the "dead euro". "This is a recipe for a European civil war," concludes Evans-Pritchard.
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  • Calendar event / 7 hours ago

    US Advance estimate GDP

    forecast
    actual
    High Annual Rate, Q/Q%
    +2.7%
    +2.3%
    High PCE Price Idx, Q/Q%
    +2.2%
    High Core PCE Price Idx, Q/Q%
    +1.8%
    High Personal Consumption, Q/Q%
    +2.9%
    Med Chain-Weighted Price Idx, Q/Q%
    +1.5%
    +2%
    Med Purchase Price Idx, Q/Q%
    +1.4%
    Med Real Final Sales 1st Est, Q/Q%
    +2.4%