25 June 2014



Today’s Issue Cluster: Shale

EMs – Fragile Five Swoon Anew as Iraq-Oil Link Gives Pause
Asia – Exporters not catching typical lift from US recovery
Mining – Investors Fret Over Flood of Iron Ore


MAJOR DATA POINTS

US – Q1: Economy Shrinks by Most in Five Years; -2.9% was -1.0% / WSJ / R / B / FT / AP / nyt / r *

US – May: Durable Orders Drop; -1.0% from +0.6% / R / WSJ / AP / B / r *


MARKETS

EMs – Fragile Five Swoon Anew as Iraq-Oil Link Gives Pause B / ft *

EMs – FDI into developing economies forecast to stall FT * * * * * * *

Dubai – Market Tumbles Amid Property Stocks Selloff WSJ *

Dubai – Stocks Still Expensive to ABN After Rout B *


ECONOMICS

Japan – Abe Unveils New Growth Strategy WSJ / NYT / AP * * * * * * * *

Japan – Abe’s ‘Third Arrow’ Seeks a Hard Target WSJ / R / NYT *

Japan – Tourists Bring Japan First Surplus Since 1970 B *


POLITICS & FISCAL POLICY

Iraq – Kurds Signal Loyalty to Country, but Not to Maliki WSJ / FT / r * *


MONETARY POLICY

MNB – Hungary Cuts Main Rate to Record on Negative Inflation B / WSJ

TCMB – Turkey Cuts Interest Rate Again to Boost Growth WSJ / FT *


FINANCE



REAL ESTATE

US – Hold Off on House Party WSJ *

US – Apartment Market Shows Staying Power WSJ *

US – After Dizzying Rally, REITs May Be Overheating WSJ *

US – ‘The housing market is off track’ wapo *

US – The age of housing in every zip code wapo * *


SERVICES



MANUFACTURING



TECH



TRADE & TRANSPORTATION

Asia – Exporters not catching typical lift from US recovery R * *


COMMODITIES

Mining – South Africa strike casts shadow over white metals FT / WSJ / FT *

Mining – China Metal Probe Weighs on Copper Outlook WSJ / R / WSJ

Mining – Zinc Prices Surge as Supplies Shrink WSJ

Mining – Investors Fret Over Flood of Iron Ore WSJ / ABC *


ENERGY & ENVIRONMENT

Shale – US: Ruling Loosens Four-Decade Ban On Exports WSJ / NYT / FT *

Shale – US: Oil From Fracking Is More Volatile Than Expected WSJ * *

Shale – US: PA Weighs New Tax on Natural-Gas Drilling WSJ *

Shale – US: CO Fracking Deal Proves Hard to Seal WSJ *

Shale – US: Cities, States Begin to Limit Drilling WSJ / WSJ * *

Shale – US: Shakeout Threatens as Frackers Go for Broke B

Shale – US: Wall Street’s latest fad is built on sand R

Shale – US: Energy Companies Try to Address Fracking Complaints WSJ *

Shale – US: Officials cut estimate of Monterey oil by 96% LAT / WSJ *

Shale – US: Production updates for Bakken, Eagle Ford and Permian / cd *

Shale – US: How fracking helps America beat German industry R *

Shale – Germany: Brewers fear fracking will spoil their beer FT

Shale – Germany: Berlin prepares to allow fracking FT / NYT

Shale – Germany: Berlin to Tighten Extraction Regulations WSJ / B

Shale – EU: Greens boosted by fracking opponents in EU elections FT

Shale – EU: Nato claims Moscow funding anti-fracking groups FT

Shale – UK: Estimates for reserves are high; land grab is on FT *

Shale – UK: Home Counties survey finds ‘no bonanza’ FT / NYT / bi *

Shale – Russia: BP signs deal with Rosneft FT

Shale – China: Seen Outspending US Drillers to Chase Boom B / R

Shale – Venezuela: Sees US boom as bonus for own oil industry R

Shale – Mexico: Drug Gangs Attacking With Tanks Block Boom B / R *

Shale – World: IEA Sees Spread of Revolution WSJ


LABOR & EDUCATION



HEALTH



ENDNOTE

Chart Shows The Average Wage For Almost Every Job In America bi *


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