4 June 2014



Today’s Issue Cluster: Autos

UK – House Prices Surpass 2007 Peak to Hit New Record
OSs – Few Windows XP Users Have Upgraded
Measles – Cases in the US reach 20-year high


MAJOR DATA POINTS

EZ – Q1: Economy Slows as ECB Prepares to Drive Growth; +0.2% from +0.3% / B / eu *

EZ – May: Markit composite PMI confirms recovery slowed; 53.5 from 54.0 / FT / m *

US – May: ADP private sector adds jobs; +179k from +215k / R / AP / WSJ r *

US – May: ISM Non-Manufacturing Index Rises; 56.3 from 55.2 / WSJ / B / r *

US – Apr: Trade Gap Jumps to Two-Year High; +6.9% / B / AP / WSJ / R / r *

US – Q1: Productivity Falters Worst in 6 Years; -3.2% was -1.7% / WSJ / AP / r *


MARKETS



ECONOMICS



POLITICS & FISCAL POLICY



MONETARY POLICY

ECB – Eurozone deflation fears add to pressure on Draghi FT / FT *

ECB – Seen Ready to Tackle Europe’s Weak Inflation Problem WSJ * *

ECB – Action already priced in by investors FT * * *

ECB – Mr. Draghi, Tear Down These Rates! cfr *


FINANCE

EU – ECB Officials Anxious About Impact of US Fines WSJ / FT / NYT

EU – Banks Still unstable FT * * *


REAL ESTATE

UK – House Prices Surpass 2007 Peak to Hit New Record B / WSJ / r *

UK – Housebuilders embrace collaborative spirit to lower risk FT *

UK – RBS and Lloyds retreat from London mortgages FT / FT / FT *

UK – Help to Buy 2 not fuelling southeast boom, data suggest FT * *

UK – Construction sector still struggles to rebuild after recession FT *


SERVICES



MANUFACTURING

Autos – US: Sales hit 9-year high in May AP / WSJ / FT / NYT * *

Autos – US: Cars on the road are still pretty old ft *

Autos – US: ‘Trucks are saving the economy’ q * *

Autos – US: More are leasing cars instead of buying them q * * *

Autos – US: Eight States to Roll Out Electric Vehicle Plan WSJ

Autos – China: Subsidies Stoke Domestic Car Makers WSJ *

Autos – China: Bejing to take 5 million older vehicles off roads AP

Autos – China: Next Big Thing? Used Cars WSJ

Autos – China: Boosts Volkswagen Sales WSJ *

Autos – China: Passenger car sales back in fast lane in April CD *

Autos – China: Indigenous brand policy backfires FT / WSJ

Autos – China: BMW to Build Electric-Car Charging Stations in Shanghai WSJ *

Autos – EU: Capacity Cuts Leave Ford Optimistic WSJ / FT

Autos – EU: Sales Growth Slows WSJ *

Autos – EU: Fiat Chrysler to Challenge Audi, BMW With New Alfa Romeo WSJ / FT *

Autos – EU: VW Wins Battle to Buy Out Scania Minority Shareholders WSJ *

Autos – Thailand: Car Market Sputters WSJ *

Autos – Argentina: Carmakers suspend staff as sales plunge AP


TECH

OSs – Apple’s iOS8 opens door to developers FT / WSJ / NYT / FT *

OSs – Few Windows XP Users Have Upgraded bi *

OSs – One Bright Spot From the End of XP wsj *

OSs – Windows operating systems / r *


TRADE & TRANSPORTATION

Air – Lines Make Just Enough To Pay Their Jet-Fuel Bills WSJ

Air – Mideast Lines, Western Rivals Grow Closer With Problems in Common WSJ / R

Air – World’s busiest airports / r *


COMMODITIES

Palladium – Global Auto Sales Help to Drive Demand WSJ *


ENERGY & ENVIRONMENT

Carbon – What’s the Real Cost of the EPA’s Emissions Cap? WSJ / AP / AP

Carbon – States feel unequal burden of carbon reduction targets FT / WSJ *

Carbon – Why Democrats Believe They Can Write-Off Coal Country nyt *

Carbon – Will Developing World Join EPA Push for Carbon Cuts? WSJ / FT / AP


LABOR & EDUCATION



HEALTH

MERS – Saudi Arabia says has 113 more cases than previously thought R

Measles – Cases in the US reach 20-year high CDC *


ENDNOTE

It’s NY vs LA in the NHL. In GDP, NY has already overcome the odds. 538 * *


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