30 July 2015



Today’s Issue Cluster: Metals

Bonds – Holders of senior bank debt face rising risks
Ship – World’s Top 3 Builders Post Record Loss on Deep-Sea Failures
TPP – Puts Vietnam’s top garment producer on the defensive


MAJOR DATA POINTS

Japan – Jun: Industrial Output Increases; +0.8% from -2.1% / B / AFP

EZ – Jul: Economic Sentiment Indicator rose; 104.0 from 103.5 / WSJ

US – Q2: Economy Expands; +2.3% from +0.6% / WSJ / FT / NYT / AP / R / B *

US – Week: Applications for jobless aid rise; +12k to 267k / AP / B / WSJ / R


MARKETS

Bonds – Investors Cheer Fed’s Statement WSJ *

Bonds – Treasuries market faces liquidity concerns FT * *

Bonds – Holders of senior bank debt face rising risks FT *


ECONOMICS

LatAm – Farewell to investment banking salad days? FT * *

LatAm – Private wealth to grow faster than ME/Africa B *

LatAm – Investors bet on Mexico and Chile FT *

Brazil – Downgrade threat is a real danger sign FT / FT * * *

Brazil – Struggles With Inflation, and Expectations WSJ *

Chile – Political crisis takes a toll on economy FT *

Venezuela – Hyperinflation looms E *

Mexico – The mystery of the consumer: a four-point explainer FT *

Puerto Rico – Tourism industry lags rivals R *


POLITICS & FISCAL POLICY

Brazil – Biggest party sticks with unpopular Rousseff, for now R / FT / NYT


MONETARY POLICY

BCB – Brazil raises rates to 14.25% to combat inflation FT

Fed – Marginally lifts chances of September rate rise WSJ / FT / NYT / AP / R / B *

Fed – China’s Thumb on Rate-Rise Scale WSJ / FT * *


FINANCE



REAL ESTATE



LABOR & EDUCATION



SERVICES



MANUFACTURING

Ship – World’s Top 3 Builders Post Record Loss on Deep-Sea Failures B

Ship – Oil plunge swells losses at Daewoo FT / FT


TECH

PCs – Microsoft aims to woo consumers with Windows 10 FT / WSJ * *

PCs – Can Windows 10 Revive Sales? WSJ * *

Chips – Intel, Micron Claim Chip Breakthrough WSJ


TRADE & TRANSPORTATION

TPP – Sugar Industry Sour on Trade Talks WSJ

TPP – US to gradually remove tariff on Japanese beef N

TPP – Puts Vietnam’s top garment producer on the defensive N

TPP – Japan’s offer on dairy imports unlikely to satisfy NZ N


COMMODITIES

Gold – Demand weakest since 2009 R *

Gold – Flight from safety FT *

Gold – Is Only Going to Get Worse B *

Platinum – Third-Biggest Miner Is Cutting Production B *

Copper – Supply disruptions support market FT

Copper – Minding the gaps in the cost curve r *

Titanium – Boeing looks at pricey metal in bid to stem 787 losses R

Nickel – At mercy of positioning FT

Iron – ‘Back in a Bull Market — Just Don’t Expect It to Last’ B *

Iron – ‘Chinese steel juggernaut slows but not fast enough’ r * *


ENERGY & ENVIRONMENT

Alt – UPS Agrees to Buy 46m Gallons of Renewable Diesel NYT

Alt – Why airlines keep pushing biofuels: They have no choice AP



HEALTH



ENDNOTE

Foreign Travel Advice of the British government motw *

Foreign Travel Advice of the French Government motw *


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