3 March 2014



Today’s Issue Cluster: World Conflicts

US – ND Leads on the Road to Economic Recovery
BOC – Rate cut off table, with signs of improving economy
Air – Pilot shortage? Not clear, report says


DATA POINTS

China – Feb: HSBC manufacturing PMI hits seven-month low; 48.5 from 49.5 / R / AP / WSJ *

China – Feb: Official PMI Falls in Latest Sign of Slowdown; 50.2 from 50.5 / WSJ / AP / B

China – Feb: Official services PMI rises to three-month high; 55.0 from 53.4 / R

Japan – Q4: Business investment up; +4.0% / K

Japan – Feb: New car sales rise for 6th consecutive month; +15% / K

Australia – Jan: HIA new home sales growth back on track; +0.5%, +17% yr / Aus / SMH *

EZ – Feb: Markit manufacturing continues to fuel recovery; 53.2 from 54.0 / FT / m *

UK – Jan: Lenders approved most mortgages since start of the financial crisis; 77k from 72k / R / B

US – Jan: Consumer spending up; +0.4% from +0.1% / AP / WSJ / R / B *

US – Feb: ISM’s manufacturing PMI increased; 53.2 from 51.3 / WSJ / R / B *

US – Feb: Markit factory activity growth hits highest since May 2010; 57.1 was 56.7 / R / m *

US – Jan: Construction spending unexpectedly rose; +0.1% from +1.5% / R *


MARKETS

Currencies – China Steps Up Effort to Weaken Yuan WSJ / FT / NYT *

Currencies – Almost Half a Billion Worth of Bitcoins Vanish WSJ *

Currencies – Britain to scrap VAT on Bitcoin trades FT / WSJ

Currencies – Japan says any bitcoin regulation should be international R *


ECONOMICS

US – That 2014 Growth Breakout? Not Looking Likely WSJ *

US – ND Leads on the Road to Economic Recovery NYT *


POLITICS & FISCAL POLICY

Ukraine – US, Europe Threaten to Punish Putin WSJ / FT / R / NYT * * *

Ukraine – Russia Raises Main Rate as Crisis Threatens Economy B / WSJ

Ukraine – Tensions lift haven currencies FT / WSJ

Ukraine – Grain Prices Surge on Crisis WSJ

Ukraine – Oil prices spike on Russia sanctions fears AP

Ukraine – Russia Gas Threat Shows Putin Using Pipelines to Pressure B / WaPo / bi / bi * *

Ukraine – Rouble likely to be casualty of conflict FT

Ukraine – Wheat, Corn Surge on Fears Unrest May Cut Exports WSJ

China – Dozens stabbed to death in separatist attack FT / NYT / B

NK – Fires two short-range missiles into sea R

Philippines – A long-running insurgency may at last be coming to an end E *

Turkey – Leader’s Resilience Shows in Swing Districts WSJ *

Egypt – Strikes sweep nation as economy struggles FT

Syria – Hizbollah recruitment surge as sectarian conflict spreads DT *

Venezuela – In search of a solution FT * * *


MONETARY POLICY

BOC – Rate cut off table, with signs of improving economy G&M


FINANCE

US – Student Loans Entice Borrowers More for Cash Than a Degree WSJ *


REAL ESTATE

Spain – Soros and Paulson each take €92m bet FT *


SERVICES

Gaming – Casinos Are Ready to Bet on Japan WSJ / R / FT *

Gaming – China New Year Adds Upside To Wynn, Las Vegas Sands IBD

Gaming – Macau’s Casinos Try to Lure High Rollers Outside the Junket System BW *


MANUFACTURING

Defense – US military: Boots off the ground FT * * * *


TECH

Mobiles – China’s sector grows up superfast FT / FT *


TRADE & TRANSPORTATION

Air – Pilot shortage? Not clear, report says AP / R / NYT

Air – Cost in US stable the last decade, 17% cheaper than 20 years ago cd *


COMMODITIES

Gold – Bugs Return After Last Year’s Rout WSJ / FT * * *


ENERGY & ENVIRONMENT

Electricity – German Companies Take Back the Power WSJ *

Electricity – Utilities Push New Storage Technologies WSJ


LABOR & EDUCATION



HEALTH

Viruses – Approach of Mosquito-Borne Disease Has US on Alert WSJ *


ENDNOTES

How much is time wrong around the world? poisson / kottke *


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