6 May 2014



Today’s Issue Cluster: EU Economy

Ukraine – US to unleash IRS on Russian banks
US – Home Price Gains Are Not Boosting Borrowing
Measles – CDC reports biggest outbreak since 1996


MAJOR DATA POINTS

EZ – Mar: Retail Sales Rise as Economy Grows; +0.3% / WSJ / r *

EZ – Apr: Markit PMI off to bumper start in Q2; 54.0 from 53.1 / R / B / m *

UK – Apr: Markit services PMI hits 2014 high; 58.7 from 57.6 / R / B / m *

US – Mar: Trade deficit narrows as exports rebound; -$40b from -$42b / R / WSJ / AP / B / r *


MARKETS

Debt – Stubborn Treasury-Bond Yields Touch a Low WSJ *

Debt – Stressed investors seek periphery debt havens FT *


ECONOMICS

EU – Brussels Lowers Euro-Zone Inflation Forecast WSJ / FT / NYT / AP / R / AP / B / AFP*

EU – Portugal: Exits bailout without safety net of credit line FT / WSJ / NYT / R / B / NYT *

EU – Italy: Finance minister criticises Brussels over jobs and growth FT * *

EU – Italy: Resistance to Change Means Slow Recovery WSJ * *

EU – Italy: Optimism Grows, Defying the Numbers NYT * *

EU – UK: Goldilocks and the Three Charts wsj * * *

EU – EE: How “New Europe” has fared on its tenth birthday e *

EU – Unemployment Rates March 2014 / motw *


POLITICS & FISCAL POLICY

Ukraine – Kiev sends elite force to Odessa due to unrest AP / FT / AFP / wapo * *

Ukraine – US to unleash IRS on Russian banks AP

Ukraine – How Russia Inc. Moves Billions Offshore B

Ukraine – Crisis hardens Brussels stance on Gazprom pipeline FT

Ukraine – World’s Top Five Natural Gas Exporters / b *

Ukraine – World’s Top Five Natural Gas Importers / b *


MONETARY POLICY

ECB – Euro zone inflation edges up, swift action seen less likely R / r / WSJ * *

ECB – OECD urges Bank to loosen policy FT / WSJ


FINANCE

US – Holder: Banks Aren’t ‘Too Big to Jail’ WSJ / FT / B

US – Credit Suisse Nears Record Tax Plea WSJ

US – Lending crackdown sends loans into the shadows FT *

US – Big Banks Make Swaps a Foreign Affair WSJ *

US – Home Price Gains Are Not Boosting Borrowing wsj * * *


REAL ESTATE

World – Surging property prices test regulators’ weaponry FT * *


SERVICES



MANUFACTURING



TECH

Telecoms – Brewing Deals Bring Long-Promised Future Into View WSJ *

Telecoms – European cable: Ice age FT *


TRADE & TRANSPORTATION



COMMODITIES

Mining – Shares are in recovery FT *

Silver – Looks Like Gold as Slump Defies More Car-Part Use B

Gold – Personality clash killed Barrick-Newmont deal G&M / FT / WSJ / FT *

Platinum – South African Platinum Miners Reject Pay Offer WSJ / FT / R

Steel – For China, Flatter Is Better WSJ *

Steel – Baoshan Says China Production Likely to Hit Another Record WSJ / N *

Zinc – Producers eye resuming operations FT *

Nickel – Soars as Indonesia sales ban bites FT *

Nickel – ‘Options boom shows scale of bulls’ ambitions’ r *

Aluminum – Production reaches new high FT / r * *


ENERGY & ENVIRONMENT

Coal – Dirty US Fuel Finds a Home in Europe WSJ *

Coal – Asian demand is set for robust revival, study says G&M


LABOR & EDUCATION



HEALTH

Polio – UN: Now a world health emergency WSJ / AP / NYT *

Measles – CDC reports biggest outbreak since 1996 WaPo


ENDNOTES

Main charges in coats of arms of countries in Europe motw *


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