Not everything is rallying this year. India is down, which is interesting as it is a perennial favourite with international investors. Mark Tinker, Head of AXA Framlington Equities in Asia, is concerned “notably” concerned about the extent and composition of India’s growth compared to China as well as the fact that since 2013 the Chinese currency has depreciated 8% against the US Dollar while the Rupee has dropped 31%.
Following the reopening of the US Government after its shutdown, the market has been operating without data from both the US Department of Agriculture and speculative positioning data from the Commodity Futures Trading Commission (CFTC). Next report by Wisdom Tree covers a period of three months about commodity markets.
Shaun Riordan | Banks and other financial institutions are all too aware of the cybersecurity threat. They have lost millions in theft and fraud over the years. In response they have spent millions on technical measures to protect themselves, both perimeter and in depth defences. Such measures are necessary, but not sufficient.
Chandra Roy | Although Trump praised Powell for his “wisdom” and “skills” when he formally nominated him back in November 2017, within a year of this endorsement he relentlessly called in to question Jay Powell’s stewardess of the economy against the advice of top White House economic advisers, unprecedently claiming the Fed to be the “only problem in our economy”.
It was known yesterday that in January the financing to the Chinese economy reached a historical maximum in volume, growing almost 200% since December and exceeding the most optimistic forecasts. This indicator is one of the main tools that the government monitors to stimulate growth.
Until now, cryptocurrencies have only been a speculative bubble which burst, leaving bankrupt millions of people which had believed in the tale of anarcho-liberalism, which claims that they were the new international gold standard. But with 1500, or a million, possible candidates, it is difficult for states to take this data as a guarantee of stability.
via The Conversation | It is almost too easy to bash Facebook these days. Nearly a third of Americans feel the country’s most popular social media platform is bad for society. As the company approaches its 15th birthday, Americans rate its social benefit as better than Marlboro cigarettes, but worse than McDonald’s.
Shaun Riordan | It now appears obligatory for major companies to issue strategic plans explaining what they will do over the next two or three years, at least in Spain. Market analysts scramble to evaluate them, inventing “objective prices” on the basis of these evaluations. What neither the companies nor the analysts seem to understand is that “strategic plan” is an oxymoron. It is either a plan or it is a strategy. It cannot be both.
Alberto J. Lebrón (Beijing) | The pig, in Chinese culture, has always been a symbol of abundance. Given that the pig is an essential element in their diet – Spain is the country that exports most pork to the China market – explanations abound. But what is significant is that this year of the pig is going to be far less abundant than previous years.
AXA IM outlook for the US economy, which was below consensus back in November, was a herald of subsequent market fears. Since the relationship between the recession risk and the market sell-off goes both ways, the question was whether market events had overtaken the economic outlook and threatened an even sharper slowdown in activity. Now, they have updated our probabilistic model of US recessions.