3 June 2014



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


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


MARKETS

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

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


ECONOMICS

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

Australia – End of the boom FT * * *


POLITICS & FISCAL POLICY

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


MONETARY POLICY

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

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


FINANCE



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 *


SERVICES



MANUFACTURING



TECH

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


TRADE & TRANSPORTATION

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


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


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 * *


LABOR & EDUCATION



HEALTH

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


ENDNOTE

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


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