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  • Editor’s Picks / Yesterday at 23:34 GMT

    China needs a finance sector overhaul: World Bank

    South China Morning Post
    Beijing needs to separate its roles as owner of China's banks, regulator and strategic planner, and build a system that directs more lending to productive industries and manages risks better, the World Bank says. The distorted role of the state is the main cause of China's fragile financial sector, which the bank said was unbalanced, repressed, costly to maintain and potentially unstable. "The state has interfered extensively and directly in allocating resources through administrative and price controls, guarantees, credit guidelines, pervasive ownership of financial institutions, and regulatory policies," the World Bank says. The recommendations echo private sector analysts, who say Beijing needs to overhaul its government-run banking system.
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  • Article / Yesterday at 14:24 GMT

    NFP preview: Send in the hawks?

    Head of Macro Strategy / Saxo Bank
    Denmark
    NFP preview: Send in the hawks?
    The US economy is recovering from yet another poor first-quarter showing and I expect the June employment report to confirm this trend with nonfarm payrolls printing well above 200,000.
    Read the article
  • Article / Tuesday at 13:00 GMT

    Here's something else to worry about...

    Managing Partner / Spotlight Group
    United Kingdom
    As markets brace for a Greek sovereign default within hours, nerves are on edge as the prospect of a Grexit looms closer. But that's not all we have to worry about. Fresh data from Eurostat reveals that Eurozone CPI barely budged in June. The spectre of deflation rears its ugly head once more.
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    1d
    goldfinger goldfinger
    Greece has certainly been a distraction for far too long, and whilst I don't want to be rude about the Greek population in general. How did they...
    1d
    Stephen Pope Stephen Pope
    They believed the myths the Syriza spread during the election. They thought that PASOK and New Democracy had got nowhere so let the left wing have a...
    1d
    goldfinger goldfinger
    Clearly Syriza now understand that behaving like spoilt children doesn't work. I listened to Junker yesterday on CNBC and clearly all and sundry have bent over backwards....
  • Calendar event / Tuesday at 7:00 GMT

    DK Revised GDP

    forecast
    actual
    Low GDP S.Adj. (QoQ)
    +0.4%
    +0.5%
    Low GDP (YoY)
    +1.7%
    +1.7%
  • Squawk / Monday at 9:29 GMT
    Head of Macro Strategy / Saxo Bank
    Denmark
    Economic confidence ticks lower in the euro area:

    The Greek situation with its referendum and bank holidays continue to dominate headlines, and as such it is no surprise to see a slight drop in the overall euro area economic confidence in June. The main index fell to 103.5 this month vs. 103.8 expected and prior led by an industrial confidence drop to -3.4 from -3. Confidence among businesses in the services sector was unchanged at 7.9 (8 expected).

    Among the "big 4" in the euro area Spain continues to have the strongest confidence in its economy, but it has lost some momentum recently and fell 2 points to 108.4 in June. German confidence was unchanged at 105 while French confidence eased lower to 98.5. Italian confidence climbed 0.8 points to 106.5.

    Despite headlines about Greece the broader euro area is seeing a cyclical upswing helped by a low euro and cheap oil. Growth is projected to hit at least 1.5% this year from 0.8% in 2014.
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  • Squawk / Monday at 7:14 GMT
    Head of Macro Strategy / Saxo Bank
    Denmark
    Spain exits deflation, but retail sales are soft:

    Spanish consumer prices rose 0.3% m/m this month, more than the 0.1% projected by consensus, according to the national statistics office. The preliminary June estimate comes on the back of a 0.5% increase in May, and with two solid increases in a row the annual change has gone positive for the first time in a year at 0.1% vs. -0.1% expected. The EU-harmonised index is slightly weaker at 0% y/y.

    In another report - this one for May - retail sales disappointed at 3.7% y/y vs. 4% expected and 3.9% prior. This implies a monthly increase of just 0.1%. The overall increase of retail sales of 3.7% y/y is mainly driven by service stations (6.4%) and non-food (5.3%) while food is more or less flat (-0.4%).
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  • Article / Monday at 5:04 GMT

    3 Numbers: EU business climate optimistic, US homes, Dallas Fed index

    editor/analyst / CapitalSpectator.com
    United States
    3 Numbers: EU business climate optimistic, US homes, Dallas Fed index
    Greece will play a big part in the week ahead as the market deals with the uncertainty over a Grexit. Other news in Europe includes the Eurozone's June's Business Climate Indicator, which may show a bit of short-term weakness but cautious optimism remains. Across the Atlantic, US pending home sales are expected to move higher, while data from today's Dallas Fed Index will provide more support, if only on the margins, for the belief that manufacturing is stabilising.
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