14 July 2015



Today’s Issue Cluster: Greece

Canada – A recession may already have started
Defense – Export Ban Lifted, Japan Cautiously Markets Wares Abroad
Fish Oil – A $1.2b industry built, so far, on empty promises


MAJOR DATA POINTS

EZ – May: Industrial production falls; -0.4%, +1.6% yr / WSJ *

Germany – Jul: ZEW Investor Confidence Falls a Fourth Month; 29.7 from 31.5 / B / AP / AFP *

US – Jun: Retail Sales Fall; -0.3% from +1.0% / WSJ / R / AP / cr *

US – May: business inventories increase modestly; +0.3% from +0.4% / R

US – Jun: Import Prices Fall; -0.1%, -10% yr / WSJ

US – Jun: NFIB Small Business Optimism Index Fell; 94.1 from 98.3 / cr *


MARKETS



ECONOMICS

Canada – Jobs Loss in June Ratifies Faltering-Economy View B

Canada – A recession may already have started E *


POLITICS & FISCAL POLICY

Greece – Eurozone Leaders Reach Agreement WSJ / FT / NYT / B *

Greece – Needs debt relief far beyond EU plans – Secret IMF report R

Greece – Tsipras Faces Mutiny B / WSJ / FT / R / B *

Greece – ‘Athens lost’ b / B / FT *

Greece – ‘Berlin lost’ ft / FT

Greece – ‘Brussels lost’ ft / nyt / afp / ft / ft / NYT

Greece – Debt trends, in absolute terms / ft *

Greece – Europe’s Debt Problem Has Deep Roots WSJ / NYT * *

Greece – Deal Will Take Time to Reach Banks WSJ / WSJ * * *

Greece – ECB emergency loans for stricken banks FT / FT / NYT * *

Greece – Bank Buffer Looks Pretty Thin WSJ *

Greece – ‘Lots of pain, little gain’ b *

Greece – Shipping Industry Frets Over Higher Taxes WSJ

Greece – Battle Is Reflected in Spanish Politics WSJ / WSJ *


MONETARY POLICY

BOC – Interest rate cut back on the table after Canadian economy shrinks FP


FINANCE



REAL ESTATE



LABOR & EDUCATION



SERVICES



MANUFACTURING

Defense – Export Ban Lifted, Japan Cautiously Markets Wares Abroad NYT

Defense – Fighter-Jet Makers Scramble for Survival WSJ / IBD

Defense – US Firms Falter in Asia WSJ *

Drones – Regulators race to keep up N * * *


TECH



TRADE & TRANSPORTATION

TPP – US weighs completing trade deal without Canada R / WSJ


COMMODITIES

Aluminum – Warehouse Crackdown Cuts Costs WSJ * *

Aluminum – Alcoa shines a light on China’s “fake semis” trade r *


ENERGY & ENVIRONMENT

Coal – States Take Aim at Power-Plant Rules WSJ

Coal – Gas overtakes at US power stations FT / AP

Coal – ND lignite projects languish AP

Coal – France rows back on export subsidies amid job loss fears FT

Coal – ‘The Latest Sign It’s Getting Killed’ B

Coal – ‘The global renaissance’ vox *


HEALTH

Fish Oil – A $1.2b industry built, so far, on empty promises WaPo *


ENDNOTE

Population comparison, US rough equivalents of Canada provinces reddit *


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