15 June 2015



Today’s Issue Cluster: Currencies

Japan – Abe’s approval ratings fall to new low
Greece – EU Urged to Plan for to Default
H5N2 & MERS – New cases slow


MAJOR DATA POINTS

EZ – Apr: Trade surplus widened; +€25b from +€15b yr MW *

US – May: Industrial Production Declines; -0.2% from -0.5% / WSJ / R / AP

US – Jun: NAHB home builder sentiment rises; 59 from 54 / R *


MARKETS

Currencies – Dollar Loses Allure WSJ *

Currencies – Euro Gets Wake-Up Call from Merkel WSJ / FT *

Currencies – Merkel’s ‘strong euro’ comments put investors on alert FT * *

Currencies – Animal spirits batter the market FT *

Currencies – SK likely to take up arms in war FT *


ECONOMICS

Japan – Welcomes Weaker Yen but Weighs Costs WSJ *

Japan – Investors eye Japan as Nikkei outperforms Dow N * *

Japan – Consumers Look to Get in the Game WSJ *

Japan – Exporters see little growth in Asia, trade ministry finds N *

Japan – As It Battles Deflation, a Bitter Legacy Looms WSJ *

Japan – Squares up to China over Asian infrastructure FT *

Japan – Abe’s approval ratings fall to new low FT


POLITICS & FISCAL POLICY

Greece – Default fears rise as talks collapse FT / WSJ / NYT / AP / R / B

Greece – Running out of options to avoid capital controls FT *

Greece – Germans becoming increasingly resigned to Grexit FT

Greece – EU Urged to Plan for to Default NYT / WSJ / R


MONETARY POLICY



FINANCE

Japan – Mega-banks step up search for foreign targets FT


REAL ESTATE



LABOR & EDUCATION

Japan – Unemployment at 18-year low as women, seniors head back to work N *

Japan – Female labor force participation is up / b *


SERVICES



MANUFACTURING

Chemicals – US companies thrive on shale boom’s cheap gas FT * * *


TECH



TRADE & TRANSPORTATION

TPP – Democrats derail Obama trade bill FT / NYT / R / B / WSJ / NYT / FT / WSJ * *

TTIP – Doubts over EU’s proposals for saving US trade deal R


COMMODITIES



ENERGY & ENVIRONMENT

Coal – To be overtaken by renewable power if pledges are kept FT *

Coal – As Prices Fall, Miners Cut Output WSJ * *

Coal – Oil Industry Takes Aim WSJ / AP / FT *

Coal – ‘Dirty and unpopular — but not worthless’ FT

Coal – Huge drop in WV production forecast AP

Coal – Peabody faces scrutiny over clean-up insurance R *


HEALTH

H5N2 – Egg Prices Seem a Lot Higher? Blame Bird Flu wsj *

H5N2 – New bird flu cases slow, focus turns to preventing repeat AP

MERS – WHO: not spreading outside SK hospitals AP / B / NYT

MERS – Why no vaccine? Lack of foresight frustrates scientists R


ENDNOTE

‘Why Fahrenheit is Better than Celsius’ mj *


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