Markets

With more than half of the global population now living in urban areas, some in abject poverty, the path to sustainable development must pass through cities. In a meeting in July, the Working Group for the UN’s Sustainable Development Goals...

The ECB meeting and details about the asset purchase plan is the key event of the day.   However, there is something else happening.  A string of disappointing US data and the sell-off in equities have sparked a bond market...

The European Central Bank meets tomorrow.   The focus is on the details of the asset-backed securities and covered bond plan that was announced last month. There are three key issues related to this new initiative:  What instruments will be purchased,...

With the ECB meeting and US jobs data the key events of the week, it is understandable the August US trade balance, due out Friday, is not drawing much attention.   However, the combination of the growth differentials, favoring the...

Before his election to India’s prime ministership, Narendra Modi was persona non grata in the United States because of his alleged complicity in the ethnic violence in Gujarat of 2002 in which 790 Muslims and 254 Hindus died, 2500 people...

Increasing the GDP growth rate will be a major task for India’s new government. GDP growth will be critical for eradicating poverty and improving the living standards of India’s population. The economy also faces the daunting challenge of providing employment...

The US dollar remains in a consolidative mode as participants await fresh incentives.  The bulls have been denied fresh excuses to push the trend that has carried the US Dollar Index higher for an unprecedented ten consecutive weeks.  The US...

If Australia’s property bubble bursts, the consequences would be disastrous for an economy dominated by oversized banks. But Government policies aimed at propping up the market are simply making the bubble bigger. And bigger.  If Australia’s property bubble bursts, the...

On Independence Day 2014, India’s Prime Minister Narendra Modi launched his financial inclusion plan to provide a bank account to every Indian household. His ‘Jan-Dhan Yojana’ (Scheme for People’s Wealth) — which, in typical Modi vernacular, plays on rhyming words...

The launch of the new 4-year lending facility by the European Central Bank was disappointing.  Participation was light.  Some 255 banks (of 382 eligible institutions, which represent more than 1300 entities) borrowed a total of 82.6 bln euros.  The consensus...

The  Scotland vote today is the main event, and as important as a "yes" vote would be, it is not the only event today.  And there is not much more to add to the discussion.  While the polls remain a...

A recent report from Greenpeace found that China's coal consumption declined in the first half of this year and new Chinese government data suggests that the country's coal imports have dropped. Estimates indicate that by the end of the year,...

The youth of Japan appear to face a bleak future — a catastrophic budget deficit, ageing population and collapsing social security system. Despite this, according to data released last year, Japan’s youth are astonishingly positive in their outlook. In the...

The week's key events kick-off today as the FOMC starts its two-day meeting.   Thursday features Scotland's referendum, the ECB's TLTRO and the SNB's meeting.  Consolidative trading continues to be the dominant theme.  The dollar has been largely confined to...

Indian economic data in July on industrial growth and inflation was disappointing. Industrial sector growth slowed to 3.4 per cent in June 2014 with the manufacturing sector, the largest component, growing at an anemic 1.8 per cent. But the more...