4 September 2015



Today’s Issue Cluster: Brazil

China – Devaluation may test HK dollar peg
ECB – Lays ground for longer QE program
HigherEd – Are Savvy Students Sabotaging Big Textbook?


MAJOR DATA POINTS

Germany – Jul: Factory orders fall; -1.4% from +1.8% / AFP *

US – Aug: Slower Job Growth May Pause Rates; +173k not +220k / NYT / R / FT / WSJ / R / AP / B *


MARKETS

China – Devaluation Strengthens Hand at IMF WSJ *

China – Devaluation may test HK dollar peg N *

China – If something can’t go on forever, it won’t, FX policy edition ft * *

China – Bond Market Presents False Sense of Security WSJ *

China – Companies Share Investors’ Pain WSJ *

China – Foreign Firms Feel Chill WSJ *


ECONOMICS



POLITICS & FISCAL POLICY

Brazil – Rousseff faces growing impeachment threat AP

Brazil – Finance Minister Comes Under Fire From All Sides WSJ / B

Brazil – Central-Bank President Could Lose Cabinet Post in Austerity Move WSJ

Brazil – Economy Plunges in Second Quarter WSJ * *

Brazil – Struggles to fix fiscal crisis FT * *

Brazil – ‘Epic Era of Splurging Is Over’ B * * *

Brazil – Stock Market May Be Eclipsed by Mexico’s B *

Brazil – Desperate times, desperate moves E * *


MONETARY POLICY

ECB – Ready to Expand Stimulus WSJ / FT / NYT / B / AFP *

ECB – It Ain’t Easy Ahead of the Fed WSJ *

ECB – Lays ground for longer QE program b *


FINANCE



REAL ESTATE



LABOR & EDUCATION

HigherEd – Why Americans Are Going Abroad for an MBA WSJ

HigherEd – Schools Want the Sky to Be the Limit on Loans BW

HigherEd – School-Loan Reckoning: 7m Are in Default WSJ *

HigherEd – Are Savvy Students Sabotaging Big Textbook? B *


SERVICES

Ads – Agency deals on the block in media ‘tsunami’ FT * * *

Ads – TV Remains King in Political Spending WSJ *

Ads – Apple Escalates Fight Over Blockers WSJ *

Ads – Marketing in the digital age E * *

Ads – Online shines in sputtering Thai economy R *


MANUFACTURING



TECH



TRADE & TRANSPORTATION

China/Australia – Turmoil Fuels Push Against Trade Deal WSJ *

TPP – Canadian, Mexican auto parts makers warn of fallout G&M

TPP – Auto-Parts Dispute Taps the Brakes WSJ *


COMMODITIES

Aluminum – China shuffle to form world’s top producer FT

Aluminum – Collapse in premiums hits trade FT

Aluminum – Battle for survival in the new global market r *


ENERGY & ENVIRONMENT

Trees – Loss slows, but covers area twice size of Portugal in 2014 R *

Trees – World Has Many More Than Previously Thought WSJ *


HEALTH

Pharma – Short sellers keep sights trained on biotechs FT

Pharma – Impact of biosimilars in the US will be gradual WSJ *

Pharma – Drug-Industry Rule Would Raise Medicare Costs WSJ

Pharma – Drug pricing comes under the microscope FT

Pharma – Hints of a hot and frothy biotech bubble FT


ENDNOTE

Big brands swap logo colors kottke / ps / ps *


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