5 March 2015



Today’s Issue Cluster: Monetary Policy

LatAm – Petrobras fall from grace roils wider debt markets
Brazil – Petrobras scandal threatens to tear apart ruling coalition
Ship – Ports Gridlock Reshapes the Supply Chain


MAJOR DATA POINTS

Germany – Jan: Factory orders down more than expected; -3.9% from +4.4% / AP / R *

US – Jan: Factory orders fall for sixth straight month; -0.2% from -3.5% / R

US – Week: Jobless Claims Rise to Highest Level Since May; +7k to 320k / WSJ / R / B *


MARKETS

LatAm – Petrobras fall from grace roils wider debt markets FT * *

Brazil – Struggles Hammer the Real WSJ * *


ECONOMICS

Brazil – The crash of a titan E * *

Brazil – Waxing and waning e * * * *

Brazil – Drought-Stricken São Paulo Battles Dengue Fever Outbreak WSJ

Brazil – Large Divergence Forming in Brics Forecasts / b *


POLITICS & FISCAL POLICY

Brazil – Petrobras scandal threatens to tear apart ruling coalition AFP / WSJ

Brazil – Downgrade of Oil Giant Stirs Wider Concern WSJ *

Brazil – As Brasilia Tightens Belt, Other Woes Follow WSJ


MONETARY POLICY

BCB – Brazil raises rates to six-year high FT / WSJ / B

RBI – India makes second rate cut FT / WSJ / WSJ

PBOC – China Cuts Interest Rates on Special Lending Tools WSJ

Asia – Low growth, disinflation create climate for easing / b *

RBA – Australia Holds Rates WSJ / FT / AFP / r * *

World – Since year-start, 17 central banks have cut rates / b *

World – Negative Interest Rates Yield Positive Results—So Far WSJ *

EU – Negative Rates Test Technology at European Banks WSJ / FT *

ECB – Bond-buying to start on Monday FT / WSJ / NYT / B / AP / R *

ECB – Prepares to give details of QE scheme FT / FT * *

ECB – European Stimulus Sparks Bond Blitz WSJ *

BOE – Keeps rates on hold, six years after crisis cut R *

BOE – Embroiled in money-market fraud probe FT

BOC – Chance of another Canada rate cut slim G&M

Fed – Washington Strips New York Region’s Power WSJ * *

Fed – Beige Book: Hiring and Consumer Spending Look Solid WSJ / AP

Fed – Yellen Urged ‘Bold Action’ in 2009 WSJ / FT / NYT / R / AP / B / WSJ

Fed – Near majority backs June liftoff Yellen hasn’t yet endorsed R / WSJ / WSJ *

Fed – Inflation Undershoots 2% Target For 33rd Straight Month wsj *

Fed – Faces Foreign-Policy Dilemma on Rates WSJ *

Fed – Dudley, top economists urge later rate hike R / R *

Fed – Markets play chicken over rates FT / WSJ *

Fed – Stimulus ‘only now being fully felt’ FT *

Fed – S&P 500 Returns During QE Era / bp *


FINANCE



REAL ESTATE



LABOR & EDUCATION



SERVICES



MANUFACTURING



TECH

Net Neutrality – EU: Proposals open up ‘two-speed’ internet FT / WSJ

Net Neutrality – US: $850m spent on lobbying / wapo *


TRADE & TRANSPORTATION

Ship – Ports Gridlock Reshapes the Supply Chain WSJ *

Ship – Panama Canal expects boost from US ports dispute FT

Ship – Egyptians race to expand Suez Canal AP


COMMODITIES



ENERGY & ENVIRONMENT

Oil – Exxon CEO says prices will stay low FT *

Oil – US running out of storage room; price collapse next? AP / B * *

Oil – US majors set to buy smaller players FT

Oil – Saudi Minister Denies Price War With US Shale WSJ

Oil – Companies Begin to Give Up on Yemen WSJ *


HEALTH

Insurance – Biggest Fear: A Health-Law Death Spiral WSJ *

Insurance – Hospitals optimistic they’ll dodge bullet R *


ENDNOTE

Which export makes each country the most money gp *


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