Roundups
News roundup – Between
The Hedges
The 6am Cut London – alphaville
/ FT
Emerging Markets
Headlines – beyondbrics
/ FT
MORNING BRIEFINGS
Updates on the ZEW
Indicator of Economic Sentiment for Germany, followed by new US data on industrial production and the NAHB
Housing Market Index, are among the key numbers to watch for on Tuesday.
European markets are
expected to open lower Tuesday. Investors will keep a tab on today's German ZEW
sentiment indices which are likely to show an improvement for July. Also, EU
and US consumer price inflation data due later today
will be in focus.
Danske Daily –
Danske Bank (pdf)
Market comment: Rajoy not ready to say ahoy – Nordea
German and US yields
move in opposite directions * Spain’s Rajoy continues to feel the heat * US retail sales disappoint * EFSF loses its last
triple-A rating * Plenty of inflation data in the calendar
Aamukatsaus – Nordea
USA:n
vähittäismyynti pettymys * Fitch laski Euroopan väliaikaisen vakausrahaston
luottoluokitusta
EUROPE
Europe’s biggest real estate managers are making
their first investments in southern Europe since
the financial crisis as low prices and diminishing risk make commercial
properties more attractive.
UNITED STATES
What a regime shift looks like – Humble
Student
…to believe that the
ERP will return to pre-crisis levels is to disregard the longer term nature of
the deleveraging cycle and the net effects of the Fed's QE programs which
depressed risk premiums globally.
ASIA
Monitor: Chinese credit crunch – Danske
Bank (pdf)
Chinese money market
rates have continued to decline and shorter maturities have now closed to
normalised levels.
OTHER
CFA Institute Magazine (July/August 2013) – CFA
Institute
Why are investors
still trying to cope with aftershocks from the financial crisis five years
later? In the latest edition of CFA Institute Magazine, investment strategist
Nick Sargen offers a comprehensive (yet concise) analysis of what went wrong,
“the great disparity” between US equities and the economy, and what lies ahead.