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  • Calendar event / 33 minutes ago

    CH GDP
    forecast
    actual
    Med GDP QoQ
    +0.6%
    Med GDP YoY
    +1.8%
    +1.9%
  • Editor’s Picks / 3 hours ago

    Believe it or not, negative nominal interest makes sense
    The Guardian
    Negative nominal interest rates look like an unconventional policy tool. After all, if banks charge you for holding your money, why not simply stash it at home? But holding cash can be risky, as rats and robbers can get at it. In fact, investors have long accepted real negative returns. When you hold a bank account at a zero interest rate, the real return is negative. And investors accept negative returns for the convenience of holding cash balances. So there is nothing new about negative nominal interest. Over time, negative returns may lead savers to save less and spend more, and thereby jumpstart economic growth. That would be the real benefit of negative returns.
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  • Article / 4 hours ago

    It may feel like 1999, but it's more like 1929
    Business writer and editor
    Australia
    While equities are running up world-beating records, the bond markets tell us the world is in a serious funk – so something has to give. The market is partying like its 1999 and we all know what happened not long after that. Chasing the next yield is one thing, but it is ramping up markets when the economic evidence is pointing elsewhere.
    Read the article
  • Editor’s Picks / 5 hours ago

    Popular film highlights China's smog crisis, growth dilemma
    Business Spectator
    Investigative reporter Chai Jing has produced a stunning documentary on China's smog problem that could become a turning point for the environmental movement in the East Asian nation. The popular documentary has already been viewed 126 million times on Tencent’s site alone and it has galvanised national attention. Chai’s film reveals the power of the big three oil companies that threaten to shut down supplies if government agencies impinge on their turf, leaving environmental authorities looking powerless. China faces a dilemma between GDP and jobs growth on the one hand, and the environment on the other. But as Alibaba founder Jack Ma says, what is the point of having economic growth when you can no longer see blue sky?
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  • Squawk / Yesterday at 15:09 GMT
    Head of Macro Strategy / Saxo Bank
    Denmark
    US manufacturing expands at slowest pace since January '13:

    The manufacturing sector continues to grow in the world's largest economy, but we have witnessed a quick slowdown in recent months. The ISM manufacturing index declined to 52.9 last month - as expected by consensus (53) - from 53.5 in January and a high of 58.1 in August of last year. The deceleration has been particularly pronounced in the last three months with the index still as high as 57.6 in November.

    Among the sub-indices new orders slowed somewhat to 52.5 from 52.9 while production printed 53.7, down from 56.5. The employment component also slowed quite a bit to 51.4 from 54.1, interesting ahead of Friday's employment report. Manufacturing employment has averaged 31,000 per month in Nov-Jan.

    Overall a report without major surprises.
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  • Editor’s Picks / Yesterday at 13:34 GMT

    Why China's prospects might be a lot brighter
    Bloomberg
    It's something of a truism to view a slowdown in China as inevitable given the belief that slowdown inevitably follows a period of strong, sustained growth and by that model, China certainly fits the bill. But, says Mark Buchanan, the linkage is at its strongest when the economies in question are at intermediate to high levels of complexity. It becomes far more difficult to make that case with less-developed nations which fall into an essentially different regime of economic dynamics, according to the work of a group of physicists led by Matthieu Cristelli. That has big implications for China certainly, and most probably India, and is grounds for some more optimism for the future of these two behemoths.
    Read article on Bloomberg
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