22 March 2016



Today’s Issue Cluster: Geothermal

EMs – Turns Out a ‘Lie’ Lurked Beneath the Bookends of the BRICS
World – Low wages are both a cause and a consequence of low productivity
Food – World’s Import Bill Shrank $9b to Five-Year Low


MAJOR DATA POINTS

EZ – Mar: Markit composite PMI rose; 53.7 from 53.0 / WSJ

Germany – Mar: Markit Manufacturing PMI Slowest in 16 Months; 50.4 from 50.5 / B

Germany – Mar: Ifo Business Confidence Rebounds; 106.7 from 105.7 / B

Germany – Mar: ZEW Investor Optimism Rebounds; 4.3 from 1.0 / B

US – Mar: Markit Flash PMI Subdued; 51.4 from 51.3 / m


MARKETS

EMs – Debt high and getting higher FT *


ECONOMICS

EMs – Turns Out a ‘Lie’ Lurked Beneath the Bookends of the BRICS B *


POLITICS & FISCAL POLICY



MONETARY POLICY

World – Central Banks Creep Toward Role of Central Planners WSJ *


FINANCE

Insurance – Low Rates Are Tormenting Customers WSJ *

Insurance – Negative Rates: Be Afraid WSJ *


REAL ESTATE



LABOR & EDUCATION

World – Low wages are both a cause and a consequence of low productivity E *


SERVICES

Prisons – US: Guards Are Hard to Capture as Jobless Rates Fall WSJ *

Prisons – US: How Local Governments Got Burned BW *

Prisons – UK: To build 9 prisons and sell outdated ones for housing FT

Prisons – UK: Old crimes, older inmates FT *

Prisons – Japan: Silent screams E *


MANUFACTURING



TECH

Mobiles – Small iPhone Gets Upgrade WSJ *

Mobiles – Apple Chips Away at iPhone Weakness WSJ *

Mobiles – How a Tweaked iPhone Can Serve Up Growth WSJ *


TRADE & TRANSPORTATION

Transport – Stocks Signal Markets on Track WSJ

Transport – Delivers hope for equities rebound FT *


COMMODITIES

Food – GMO Labeling Law Roils Companies WSJ *

Food – Protein For Young: They Want It Convenient And Clean IBD

Food – World’s Import Bill Shrank $9b to Five-Year Low B *


ENERGY & ENVIRONMENT

Alt – Geothermal: Salton Sea could get huge new power plant USAT

Alt – Geothermal: Industry Grows, With Help From Oil and Gas Drilling NYT

Alt – Geothermal: ‘Is the new fracking’ E * *

Alt – Geothermal: A Mile Below Paris Drillers Hit Hot Pools to Warm Houses B

Alt – Geothermal: Pitched as Alberta’s next big energy source CBC

Alt – Geothermal: Builds up head of steam in Japan N

Alt – Geothermal: Indonesia, the slow boil superpower N *


HEALTH



ENDNOTE

Champagne Machine Gun MiamiNT *


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