24 March 2015



Today’s Issue Cluster: China

Bonds – EZ going long is better than going south
Rare Earths – A Stock Soars After Showing Up on ’60 Minutes’
Oil – Feds’ Fracking Rule Won’t Have Big Impact For Now


MAJOR DATA POINTS

China – Mar: Flash HSBC PMI contracts to 11-month low; 49.2 from 50.7 / R / WSJ / B / AP * *

EZ – Mar: Markit PMI Strengthens; 54.1 from 53.3 / FT / WSJ / NYT / AP * *

UK – Feb: Inflation falls; zero from +0.3% / WSJ / FT / AP / t *

US – Feb: Consumer Prices Rise For First Time Since October; +0.2% from -0.7% / R / WSJ

US – Jan: Home Prices Rose Less Than Expected; +0.3%, +5.1% yr / B

US – Feb: Sales of New Homes Climb to Seven-Year High; +7.8% / B / R / cr *

US – Mar: Markit factory activity inches up; 55.3 from 55.1 / R / B *


MARKETS

Bonds – ECB Stimulus Pushes Investors to Riskier Debt WSJ * *

Bonds – US companies sell record euro debt FT *

Bonds – Market fears liquidity crunch repeat FT * *

Bonds – EZ going long is better than going south R *

Bonds – The credit clock tolls for (some of) thee ft * *

Bonds – China’s market passes property test FT * *


ECONOMICS

China – Stumble Is More Than Seasonal WSJ *

China – ADB sees growth of at least 7% for next two years FT

China – Needs Overhaul to Avoid Further Slowdown, OECD Says WSJ

China – Firms Shift Investment From Mines to Trophy Assets WSJ *

China – ‘Wealth is flooding the world’ N * * *

China – All of Asia feeling ‘new normal’ N * * *

China – Slowdown sparks deflation fears N *

China – Japanese slow to open up to growing economic interest N *

China – Resource exporters face a glut as Beijing curbs imports N * *


POLITICS & FISCAL POLICY

China – Beijing has lent billions but defaults loom FT * * * * * * * *


MONETARY POLICY



FINANCE



REAL ESTATE

China – Home Prices Extend Slide WSJ / WSJ * * *

HK – Property boom poised to end as Fed preps for rate hike R


LABOR & EDUCATION

HigherEd – China: A surge in US overseas study E *

HigherEd – China’s Anticorruption Campaign Drives Out MBA Students WSJ *

HigherEd – China’s elderly flock back to university FT *


SERVICES



MANUFACTURING



TECH

China – Internet: Commerce and control FT * *


TRADE & TRANSPORTATION



COMMODITIES

Rare Earths – A Stock Soars After Showing Up on ’60 Minutes’ B * *

Rare Earths – Production with US import sources / motw *


ENERGY & ENVIRONMENT

Oil – India Won’t Pick Up China’s Slack WSJ *

Oil – Price Drop Hurts Spending on Business Investments WSJ *

Oil – Debt Is Sector’s Four-Letter Word B * *

Oil – Majors pile on record debt FT *

Oil – Feds’ Fracking Rule Won’t Have Big Impact For Now IBD *

Oil – Shale producers blame export ban for low US price FT / AP *

Oil – Sands producers face harsh reality of rout B

Oil – US refiners turn to tanker trucks to avoid ‘dumbbell’ crudes R


HEALTH



ENDNOTE

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