Myanmar is the latest destination for fast fashion producers
As Myanmar opens up after decades of isolation, cheap labor is drawing a rush of garment manufacturers to the former pariah state.
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The Corner
The Corner
Will Turkey elections mark an inflection point? – Market pricing in status quo
June 6, 2015 | UBS | Turkey holds general elections tomorrow. In our view there are two key uncertainties: 1) whether HDP, the Kurdish Party, will be able to cross the 10% hurdle required to qualify for parliament, thereby securing 55-60 seats mainly at the expense of the ruling AKP 2) whether the AKP is able to secure enough seats (276) to form a single-party government. Market seems to be pricing in the maintenance of status quo.
Want to fix the EU crisis? Get a eurozone budget –change treaties if needed
The Corner | June 5, 2015 | The eurozone needs its own treasury over and above national budgets, one that would not come at the expense of fiscal discipline at the national level. That is the radical shift advocated by Sigmar Gabriel and Emmanuel Macron, move that has been strongly resisted by Merkel throughout the crisis.
The cross-market context of bond sell-off
UBS | June 5, 2015 | While core yields in the euro area are still low in absolute terms, the relative attractiveness of these markets when currency-hedged has improved.
European stocks down due to Greek saga
The Corner | June 5, 2015 | Reactions to yesterday’s meeting between Tsipras and Juncker will focus the attention of European equity markets today. The Eurostoxx 600 Index dropped 0.8% to 389.64 at 8:09 a.m. in London, down 5.8% since a record in April.
Will Syriza accept the proposal from Greece’s lenders?
ATHENS | June 4, 2015 | By Nick Malkoutzis via MacroPolis | As Greece’s lenders prepare to present Prime Minister Alexis Tsipras with their final proposal, there is one question that everyone wants the answer to: Will Syriza MPs support the deal?
ECB seeks “full QE implementation”
MADRID | June 3, 2015 | So far, monetary policy stimulus is working as planned, ECB’s president Mario Draghi insisted on Wednesday, and the bond buying program needs to reach full implementation until September 2016. The central lender rules out any earlier taper and will keep rates on hold.
May sees record drop in Spain unemployment
The Corner | June 3, 2015 | Good news for Spain’s economic recovery. The number of unemployed people in Spain saw a sharp drop in May, marking the largest fifth-month decline since records began in 1996.
Euro QE trade – benchmarking against Japan
BNP Paribas | June 4, 2015 | In many respects the Japanese QE experience since 2013 is a pretty good playbook for European equities.
The ‘liquidity trap’ with Chinese characteristics
BEIJING | June 2, 2015 | By Xu Gao via Caixin | Unless obstacles blocking the flow of capital to the real economy are cleared, the financial market will continue to be trapped.