The Constitution on Chinese SOEs Reform
By Wang Lan via Caixin | The rules for China’s government provide space for the state-owned economy and public ownership, but this still allows for limiting the role of SOEs.
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Greek elections: A rather positive status quo
LONDON | Barclays | Despite this clear victory and positive status quo, a number of key questions remain for the post-election era: Will the quarterly targets be met as the macroeconomic outlook worsens? Will the ECB reintroduce the waiver on GGBs and include them in the PSPP programme?
“Zero interest-rate policy means there are bubbles everywhere”
By Fernando Barciela | Board member at Ferrovial, amongst other Spanish listed companies, Juan Arena was President of Bankinter from 2002 to 2007. “The crisis comes when assets prices drop. Then we have to choose between debt haircuts or raising asset prices via inflation and money printing,” he says.
Spain remains one of the biggest portfolio transaction markets
Spain, along with the UK and Ireland have been the most active portfolio transaction markets in Europe given that banks locally have been very active in cleaning up their balance sheets, a report by PwC points out.
Looking in on the Greek elections from the outside
By Jens Bastian via MacroPolis | Many indicators suggest the result is still too close to call, either in terms of winners and losers, or regarding the configuration of any coalition government arrangement.
Spain public debt reaches 96.6% of GDP in July
Spanish public administration debt fell by €12.7 billion in July to €1.040 trillion
Spain real estate investment moving towards pre-crisis levels
Deutsche AWM | Capital is moving beyond Madrid and Barcelona. Yields continue to fall and are now close to historical lows. Positive yield impact is to have run its course mostly by end-2016.
Moody’s: Spain property market recovery gives banks a breather
The recovery in Spain’s property market is good news for the country’s banks as it will provide a boost for the economy as a whole, while helping reduce the “toxic” real estate assets on the lenders’ balance sheets, says the rating agency.
FOMC Preview: No move; signal December
Barclays | We expect the Fed to remain on hold at its September meeting, deferring rate hikes while it assesses renewed risks to the outlook.
A Macro View of Recent Market Volatility
By Michael Hasenstab and Sonal Desai via Caixin | China’s devaluation of the yuan has prompted worries, but these are overblown regarding both China and other markets.