3 March 2016



Today’s Issue Cluster: Oil

World – Top of Art Market In Trouble but Middle Market Growing
Insurance – Google a potential rival: report
E-Cigs – US bans use on airline flights


MAJOR DATA POINTS

China – Feb: Caixin services PMI drops; 51.2 from 52.4 / WSJ

EZ – Feb: Markit Composite PMI at 13-month low; 53.0 from 53.6 / m

Brazil – Q4: Slumps to worst recession in decades; -1.4% from -1.7% / FT / AFP / FT *

US – Jan: Factory orders rebounded; +1.6% from -2.9% / R

US – Feb: ISM services declines; 53.4 from 53.5 / R

US – Q4: Productivity revised to show a less steep decline; -2.2% was -3.0% / R / WSJ

US – Week: Jobless Claims Rise Slightly; +6k to 278k / WSJ / R / AP


MARKETS



ECONOMICS

World – Is The Top of the Art Market In Trouble? B

World – Middle of art market growing B


POLITICS & FISCAL POLICY



MONETARY POLICY



FINANCE

Insurance – US industry shaken by rock-bottom rates FT *

Insurance – Google a potential rival: report R


REAL ESTATE



LABOR & EDUCATION



SERVICES

E-Cigs – Sales Rapidly Lose Steam WSJ *

E-Cigs – US bans use on airline flights AP

E-Cigs – Make quitting harder, contested study claims rn

E-Cigs – Vaping may lead teens to tobacco AFP

E-Cigs – Ads’ wide reach among US youth alarming: CDC R / AP

E-Cigs – BAT to launch iFuse hybrid FT

E-Cigs – Tobacco companies lukewarm FT

E-Cigs – ‘Un-Islamic’ vaping catches fire in Malaysia AFP


MANUFACTURING



TECH



TRADE & TRANSPORTATION

Ship – Tankers Wait to Unload Cargo in Another Sign of Glut WSJ

Rail – The New Oil Storage Space: Railcars WSJ *


COMMODITIES



ENERGY & ENVIRONMENT

Oil – ‘Critical Mass’ of Producing Countries Agree to Freeze WSJ / AP

Oil – Hedge Funds Turn Bullish WSJ *

Oil – US Shale Producers Cut Back Production WSJ *

Oil – US Shale Drillers are Finally Buckling B * *

Oil – Drillers in the US Ready to Party Like It’s 1859 B *

Oil – ‘US shale firms see output falling, but is it enough?’ r *

Oil – US shale: above $40, we are coming back R

Oil – Big Banks Slash Price Forecasts WSJ *

Oil – Stockpile surplus of 1b barrels will persist B *

Oil – The Big New Threat to Prices: A Glut of Gasoline WSJ *

Oil – Record-High Propane Shipments Leading US Energy Export Boom B *

Oil – Industry tormented by latest price slump FT *

Oil – Crash takes heavy toll on midstream energy companies FT *

Oil – Sector aims for profits at $50 crude FT *

Oil – Beyond the Bloodbath WSJ *

Oil – Gasoline’s unseasonable tumble roils US economic data B *

Oil – Saudi Arabia seeks US investment FT

Oil – China Said to Pitch HK Listing for Aramco IPO B *


HEALTH



ENDNOTE

And The Oscar Comes From ga*


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