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From: "CFA Institute Financial NewsBrief: Asia Pacific Edition" <cfa_ap@smartbrief.com>
Date: Wed, 28 May 2014 17:31:15 -0500 (CDT)
To: <mainandwall@yahoo.com>
Subject: U.S. housing market drifts as Fed watches helplessly
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U.S. housing market drifts as Fed watches helplessly Hopes are fading for a healthy rebound in the U.S. housing market after a tough first quarter, a major factor in the nation's economy and a source of increasing concern for the Federal Reserve. However, analysts note there is little the Fed can do to counter factors fettering the market, including wary would-be borrowers and lenders and a low rate of household formation among the debt-burdened young. Bloomberg (5/28) Eurozone brightens over likelihood of easier monetary policy The prospect of imminent anti-deflation action by the European Central Bank has lifted spirits a bit in the eurozone, with an index of executive and consumer sentiment climbing to 102.7 this month from 102 in April to top expectations. It is widely expected that the ECB will loosen monetary policy further at its policy meeting next week. Bloomberg (5/28) ECB sees rising danger in global pursuit of risk The recent race for risk among investors could lead to a sudden stumble in global markets, the European Central Bank warns. The bank says bubbles may be developing in a number of markets and called for caution. In particular, ECB Vice President Vitor Constancio said external risks are possible triggers, noting that "Ukraine ... could derail the situation and put a cloud on European assets." Reuters (5/28) India's Rajan sees global risk in lack of central bank cooperation Indian central bank Governor Raghuram Rajan cited "substantial risk" in the absence of global coordination among central banks and called on banks to be mindful of the spillover effects of their policies. "It is not an industrial country problem, nor an emerging market problem, it is a problem of collective action. The sooner we recognize that, the more sustainable world growth we will have," Rajan said. Business Standard (India)/Reuters (5/28)  | Transform your macroeconomic research into results.
FactSet helps organize the way you view macroeconomic trends, so you can understand what's really driving overall market performance and clearly present your findings. Request a free trial today. | | | | | | Economic Trends & Outlook | German joblessness takes a turn for the worse A new sign of fragility in the eurozone's recovery emerged with an unexpected jump in German unemployment. The number of jobless workers is up nearly 24,000 this month, thwarting expectations of a 15,000 decline. Although some maintain the nation's labor market is still basically healthy, the sudden increase in joblessness comes amid declining German business confidence. Bloomberg Businessweek (5/28) Thai trade, output numbers reveal toll of turmoil Thailand's exports were down 0.9% in April, and imports plunged 14.5% from a year before as evidence mounted that extended political turmoil is inflicting damage on the economy. Meanwhile, industrial production fell 3.9% for the 13th straight month of year-on-year decline, the nation's longest sustained string of falling output in the 13 years such data have been compiled. Reuters (5/28) Thailand roils as Asian rivals build their economies Thailand's latest military coup comes just as global companies and investors are turning away from China and beginning to look for opportunities elsewhere in Asia. "Countries like Vietnam and the Philippines are snapping at its heels and may overtake Thailand if the fundamental political challenges are not resolved," said Frederic Neumann, co-head of Asian research at HSBC Holdings. "The constant change in leadership and policy left adrift are taking a cumulative toll on Thailand's economy and damping its long-term prospects." Bloomberg (5/27) China industrial profits rise 10% year-on-year in first 4 months Despite a boost from private companies, the overall pace of growth in China's industrial profits slowed a notch from the first quarter, rising 10% in the first four months of 2014 from the year-earlier period. The private sector saw an overall 13.8% gain, while profits at state-owned and state-holding industrial enterprises were up 2.6%. Xinhuanet.com (China) (5/28) Taiwan economic index pointing up For the third month in a row Taiwan's economic monitoring indicators in April pointed to growth, with a collective reading of 29 at its highest point in three years. "The score rising last month was not because of one single factor but because of multiple improvements in many economic aspects, which is a clear sign of economic improvement," said National Development Council Deputy Minister Chen Chien-liang. The Taipei Times (Taiwan) (5/28) Philippine imports up 9.6% in March The Philippines' merchandise imports jumped 9.6% year-on-year in March, providing a boost toward the government's goal of a 6% gain for the full year in both imports and exports. The March increase adds to evidence "that manufacturers are expecting higher demand for goods for consumption and exportation," said Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Confederation. Business World (Philippines) (5/28) | | Capital Markets & Financial Products | | Please contact one of our specialists for advertising opportunities, editorial inquiries, job placements, or any other questions.
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