19 June 2015



Today’s Issue Cluster: Greece

China – Consensus bubble?
Prisons – US system has stopped growing
Cocoa – Ghana Faces Massive Crop Shortfall


MAJOR DATA POINTS



MARKETS

China – Shares record worst week in 7 years FT / WSJ / NYT * *

China – Blue-chips lag in ballooning stock market FT *

China – Consensus bubble? ft *

China – Shares follow an inverse path FT *

China – Fund Flows a Growing Headache for Beijing WSJ *

China – Push by executives to take their firms private WSJ *

China – ‘Let Them Have Their Internet Laggards’ WSJ *


ECONOMICS

China – Slowdown Eases, But Slog Remains WSJ / WSJ * *

China – Credit expansion continues to slow in May / b *

China – Overseas lending dominated by One Belt, One Road strategy FT *

HK – Economy is bound ever more closely to China’s E * *


POLITICS & FISCAL POLICY

Greece – EU Calls Emergency Summit FT / WSJ / R / B

Greece – ECB not sure if banks would open on Monday R / b *

Greece – Banks: Athens’ Achilles heel FT / WSJ / R / B / NYT / WSJ / FT *

Greece – Study: Things really can’t get that much worse ft *

Greece – What Comes Next If Deal is Reached b *

Greece – Central bank warns of ‘painful’ EU exit FT / R / AP

Greece – Bank Fears Don’t Add Up for Eurozone WSJ / NYT *

Greece – Growing Support in EZ for Exit NYT / FT / E *

Greece – A paradox: many elderly are broke despite costly pensions R *

Greece – Five Years of Misery / B * * * *

Greece – Euro Resilient Amid Crisis WSJ *


MONETARY POLICY

PBOC – China central bank admits defeat in war on deflation FT * *


FINANCE

China – HSBC faces uphill battle to bolster business FT * *

China – Visa and MasterCard face down techno-nationalism FT * *


REAL ESTATE

China – Property market shows further signs of stabilising FT / b / b * *

China – Idle Home Builders Hold Economy Back NYT / FT *

China – Housing market led by robust demand FT * * *

HK – Apartments Are Fit for a Mosquito WSJ * *


LABOR & EDUCATION



SERVICES

Prisons – US system has stopped growing E * *

Prisons – Turning Into Nursing Homes in Japan B


MANUFACTURING



TECH

Telecoms – “Wi-Fi first” great for consumers, disruptive for firms E *

Telecoms – SoftBank: Placed on hold FT * *


TRADE & TRANSPORTATION

TPP – Revived by US House vote WSJ / FT / R

FTAs – Of China, EU and US / reddit *


COMMODITIES

Cocoa – Ghana Faces Massive Crop Shortfall WSJ

El Niño – Commodity markets braced for impact FT / E *


ENERGY & ENVIRONMENT

Oil – Bringing China and the Arab world closer E * *

Oil – Saudi Arabia and China Drift Apart WSJ * *

Oil – Venezuela Loans Go Awry for China WSJ *

Oil – Longest Glut in at Least Three Decades B *


HEALTH



ENDNOTE

Germany kids channel explaining what Grexit means b *


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