Bz Nwz




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Today’s Issue Cluster: China Real Estate & Economy

FMs – Investors Rewarded for Trek Into Little Known Markets
Iron – Ore producers plan cuts
Carbon – Democrats From Coal Country Run From EPA



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MAJOR DATA POINTS

China – May: HSBC Manufacturing Index Rises to Four-Month High; 49.4 from 48.1 / B / R / m *

China – May: Official services PMI hits six-month high; 55.5 from 54.8 / R / WSJ / b *

EZ – May: Inflation falls as ECB poised to act; 0.5% from 0.7% / R / WSJ / AP / NYT / B / FT *

US – Apr: Factory orders increase for third month; +0.7% from +1.5% / R / AP



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MARKETS

FMs – Investors Rewarded for Trek Into Little Known Markets wsj * *

FMs – World’s smallest stock markets battle growing pains FT *



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ECONOMICS

Australia – RBA Holds Rates at Record Low B / SMH / ABC / Aus

Australia – End of the boom FT * * *



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POLITICS & FISCAL POLICY

EU – ‘The Democratic Deficit: Europeans Vote, Merkel Decides’ S / ft *



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MONETARY POLICY

BOE – Carney May Need to Play a Fourth Card WSJ *

BOE – Edges towards decision on rate rise FT / WSJ / r / t * *



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FINANCE




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REAL ESTATE

China – Home Prices Slip in May for First Time in Nearly Two Years WSJ / R / b *

China – Property forecast to drag on growth, now 7.3% vs 7.5% gov target / b *

China – Zero Down Payment? Developers Get Desperate wsj

China – ‘Game of Real-Estate Chicken’ WSJ *

China – Home prices ‘will stay under pressure’ CD *

China – Stretches ‘Mini’ Label for Stimulus as Steps Grow B

China – ‘Needs Credit Growth to Reverse Slowdown’ B *

China – Economy entered ‘manageable slowdown’ – central bank chief R

China – Firms slow payments as unpaid debt weighs on finances R / B *

China – Online Spending Power Unmasked B

China – Online Retailers Gain From Gender Gap WSJ *

China – Non-Performing Loans on the Rise b *

China – Richest City Set to Pass Hong Kong GDP B *

China – Urges Local Governments to Spend WSJ

China – VP meets Keidanren head as Beijing seeks Japanese investment AS *



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SERVICES




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MANUFACTURING




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TECH

Security – NCA and FBI disrupt global malware network FT / R / WSJ *



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TRADE & TRANSPORTATION

Ship – Some Hedge Funds Are Betting Rates Are Set to Soar WSJ *



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COMMODITIES

Iron – Ore producers plan cuts SMH *

Iron – U.S. Steel Cites South Korean Imports in Plans to Idle Plants WSJ *

Iron – China steel output continues to rise, prices fall X



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ENERGY & ENVIRONMENT

Carbon – Obama proposes biggest ever US push for cuts FT / FT * * * *

Carbon – Utilities Size Up Emission Cap for Power Plants WSJ / NYT / WSJ * * * *

Carbon – Democrats From Coal Country Run From EPA NYT / WSJ * *



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LABOR & EDUCATION




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HEALTH

Hospitals – Prices for Common Services in US on the Rise WSJ / NYT / wapo * *



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ENDNOTE

Wisconsin’s bar-to-grocery store ratio puts the rest of the country to shame wapo * * *



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Today’s Issue Cluster: Currencies

Pot – Colorado Sees the Downside of a Legal High
Coffee – Rust reaches new heights in Central America
Pharma – Cancer Researchers Report Longer Survival Rates With Immunotherapy



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MAJOR DATA POINTS

China – May: Manufacturing Gauge Rises to Five-Month High; 50.8 from 50.4 / WSJ / AP / B / R / FT / X / b / b * *

India – FY13-14: GDP Disappoints; +4.7% from +4.5% / WSJ *

EZ – May: Markit PMI points to manufacturing slowdown; 52.2 from 53.4 / FT / B / R * *

Germany – May: Inflation is lowest in years, adds to case for ECB action; 0.6% / R *

Brazil – Q1: Economy Slows; +0.2% from +1.9% yr / WSJ *

US – May: ISM Manufacturing Index Falls; 53.2 from 54.9 / B / r *

US – Apr: Construction spending up; +0.2% from +0.6% / AP / r *



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MARKETS

Currencies – Death of US dollar is greatly exaggerated FT *

Currencies – Euro Faces Pressure Over Threat of ECB Easing Measures WSJ

Currencies – Falling renminbi raises eyebrows overseas FT

Currencies – Renminbi bulls offered glimmer of hope FT * * *

Currencies – South Korean won at highest in six years FT / B *

Currencies – EMs currencies slip amid easing moves FT / FT

Currencies – Thai military rulers appoint anti-Thaksin advisers R *

Currencies – Chaos in Venezuela Portends Write-Downs WSJ *

Currencies – Unrest Takes Toll on Nigeria’s Naria WSJ *

Currencies – Argentine Peso Comes Back Under Pressure WSJ

Currencies – Silicon Valley’s rush to back Bitcoin services rouses concerns FT

Currencies – Cold War is starting to heat up FT *

Currencies – Swings take toll on consumer groups and manufacturers FT *



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ECONOMICS




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POLITICS & FISCAL POLICY

Ukraine – US to Press Financial Weaponry In Talks With European Allies on Russia WSJ

Ukraine – Putin backs moves to improve Russia’s investment climate FT *

Ukraine – Russian Bonds Rally Despite Crisis Rumbling On WSJ *



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MONETARY POLICY

ECB – To tackle deflation threat with rate cut FT / R / ft *



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FINANCE




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REAL ESTATE




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SERVICES

Pot – Uruguay Has Big Hopes for Cannabis Industry WSJ

Pot – When Cannabis Goes Corporate NYT *

Pot – Hemp Enters the Mainstream BW *

Pot – Colorado Sees the Downside of a Legal High NYT *



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MANUFACTURING

Robots – Are Getting Smarter WSJ / WSJ / WSJ *

Robots – China becomes largest buyer FT / FT / FT / FT *



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TECH

PCs – Demise greatly exaggerated, says Intel head FT

PCs – Market Slide Continues But Conditions Improving IBD



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TRADE & TRANSPORTATION




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COMMODITIES

Coffee – Rust reaches new heights in Central America AP

Coffee – Africa’s Changing Tastes Put Exports Under Strain WSJ

Wheat – Dry weather threat in key regions FT *

Soybeans – Argentine Farmers Reap Discontent WSJ *

Sugar – Brazil’s woes weigh on market FT *

Cotton – The new aluminum? Warehouse queues rise, along with tempers R *



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ENERGY & ENVIRONMENT

Carbon – EPA to Seek 30% Cut in Emissions NYT / WSJ / FT / AP / B / R

Carbon – Limits Likely to Drive Up Electricity Prices WSJ

Carbon – EPA may nod to nuclear in carbon rules, as generators fear closures R * *

Carbon – A Price Tag as a Climate Rescue Plan NYT

Carbon – Obama’s Step Forward Undone by China’s Steps Back B *



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LABOR & EDUCATION

Japan – Worker Shortages Rattle Recovery WSJ *



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HEALTH

Pharma – Cancer Researchers Report Longer Survival Rates With Immunotherapy NYT / WSJ

Pharma – Hopes for cancer cures offer comfort for battered sector FT / FT * * *

Pharma – Hormone Suppressor Seen Helping Some Breast-Cancer Patients WSJ *



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ENDNOTE

Generic Terms for Streams in the US motw *



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