players

Hope all goes well. Dusted off an anecdote about the end of every cycle (see below). See you next Sunday with full wknd notes. Week-in-Review: Mon: Global equity markets plunge (VIX trades above 50), North and South Korea arrive at peace agreement, Singapore CPI -0.4% yoy, Taiwan IP -3.0% yoy, South African Rand flash crash, Lockhart “appropriate to raise rates this year,” Chicago Fed Nat Activity Index 0.34 (exp 0.2

Week-in-Review: Mon: Global equity markets plunge (VIX trades above 50), North and South Korea arrive at peace agreement, Singapore CPI -0.4% yoy, Taiwan IP -3.0% yoy, South African Rand flash crash, Lockhart “appropriate to raise rates this year,” Chicago Fed Nat Activity Index 0.34 (exp 0.20), S&P -3.9%; Tue: China cuts RRR 50bps and lending rate to 4.60% (prev 4.85%), Abe advisor Hamada strikes dovish tone, Ho

Week-in-Review: Mon: PBOC chief economist “expect 2-way CNY price action,” Japan Q2 GDP -1.6% yoy (first fall in 3 qrtrs), Saudi Arabia non-oil exports -21.1% yoy (record low), Russia IP -4.7% yoy, Turkish nationalists reject Erodgan’s coalition plan (unemployment 9.3%), EU Trade surplus E21.9bln (prev E21.3bln), US empire mfg -14.92 (Apr 2009 lows), S&P +0.5%; Tue: Chinese equities -6% (no obvious catalyst), Ban

Hope all goes well… Markets sprang to life. So I dusted off an anecdote on impatience, timing and dragons (see below). Back in Sept with full weekend notes. Week-in-Review: Mon: PBOC chief economist “expect 2-way CNY price action,” Japan Q2 GDP -1.6% yoy (first fall in 3 qrtrs), Saudi Arabia non-oil exports -21.1% yoy (record low), Russia IP -4.7% yoy, Turkish nationalists reject Erodgan’s coalition plan (unemploymen

Week-in-Review: Mon: Chinese exports -8.3% yoy (CPI +1.6%), Japan current account surplus for 12th mth (consumer confidence -1.4 to 40.3), Sweden industrial orders +11.8% (strongest since 2011), Norway CPI +1.8% yoy (lowest since May 2014), Russian Q2 GDP -4.6% (car sales -27% yoy), Mexican wage growth +4.8% yoy, US Fed labor mkt conditions +0.3 to +1.1, Fischer hints no Sept hike, S&P +1.3%; Tue: China devalues

Hope all goes well… Dusted off an old anecdote on China (see below). See you again in September with full weekend notes. Week-in-Review: Mon: Chinese exports -8.3% yoy (CPI +1.6%), Japan current account surplus for 12th mth (consumer confidence -1.4 to 40.3), Sweden industrial orders +11.8% (strongest since 2011), Norway CPI +1.8% yoy (lowest since May 2014), Russian Q2 GDP -4.6% (car sales -27% yoy), Mexican wage gr

Hope all goes well… “You need to go to the bank,” ordered Ida, in her trademark General Patton. “Take out $3,600 of cash to cover your apartments and guides in Rome and Florence,” she continued, in a tone that warned: don’t you dare screw this up, land in Europe without enough ammo, and radio for a rescue. “Ida, that’s ridiculous, surely they take credit cards, it’s Italy not Ethiopia.” But apparently it’s headed tha

Week-in-Review: Mon: China manufacturing PMI 50 (exp 51.0), China new export orders 47.9 (down from 48.2 in June – lowest since June 2013), Korea exports -3.3% yoy (exp -6.8%), EU manufacturing PMI 52.4 (exp 52.2), Greece manu PMI 30.2 (previous 46.9, largest fall on record), UK manu PMI 51.9 (exp 51.5), Swiss manu PMI 48.7 (exp 50.5), US personal income +0.4% (exp +0.3%), personal spending +0.2% (exp +0.2%), ISM man

“Should have seen it coming, but we’re scientists,” he said. “The first study estimated America faced a 70 gigawatt deficit by 2030 to meet new commercial real-estate needs.” Seven years later they estimated a 30 gigawatt surplus – a 100 gigawatt swing. “Landlords are earth’s cheapest people and have long time horizons. They’re introducing energy-saving efficiencies in old buildings faster than they build new o