2013 issue 23December 16, 2013
The European Central Bank issued a stark warningover the threat posed by the scaling back of USmonetary stimulus, calling on eurozone policymakers to do more to prepare for the market shocksfrom Federal Reserve “tapering”.
Large dependable buyers of Treasuries may be thin on theground in the coming years. The Fed will trim, and eventually stop, its asset purchases. And now China istalking about halting its reserve accumulation. U.S. bond yields could rise faster and further than expected.
Yen at five-year lows as more bet against currency
Budget negotiators reach deal… could restore someorder to the nation
s chaotic budget process andavoid another government shutdown on January 15
Judge: Detroit eligible for Chapter 9 bankruptcy
Brazil reported its third quarter GDPcontracted 0.5% from the secondquarter. More alarmingly, Brazil’s 10
year yield shot up and its spread overthe U.S. Treasury is now at the highestlevel since the summer of 2009
Bracing for bumpy ride in emerging markets
EURO currency at growth-crushing levels
Return of boom-era debt deals raise alarm
The year is not ending on a high note in the
of theeconomy. The “bifurcation” continues, the “Fortune 500” are performingwell with the stock market hitting record high levels. But the smallbusiness sector is showing little growth beyond that driven by populationgrowth.
Europe faces moment of truth on banks, with flawed defenses
US industrial production jumped 1.1% in November, the greatest gain in 12 months. The November reading was up 3.2% year-over-year. Utility output increased 3.9 percent after declining 0.3 percent in October. Falling temperatures prompted Americans to adjust their thermostats last month, the Fed said.
9% in November from a year earlier, aided by promotion
areseeing inventory growth far outpacing sales growth.