DJIA 17516 // S&P 2024 // NASDAQ 4162 // 10-YR TRE 1.815% //
EURO $1.1589 // OIL $47.59 // GOLD 1290
The newly-minted skyline of Shanghai's Pudong central district. China GDP growth of 7.4% beat analyst estimates but represents the country's slowest annual growth rate since 1990.
17 months
Amount of time it took for the Shanghai stock market to reach the volume of margin lending amassed by the NYSE after 13 years of trading (CNBC)
China's Economic Growth is Slowest in Decades, WSJ
China's economic growth slowed to 7.4% in 2014, beating estimates of 7.3% but touching on growth levels not seen since 1990. Beijing notes that 7% growth is the minimum necessary to create jobs given China's population. Slower growth is in-line with Communist leaders aiming for shifting the economy towards a model based on domestic consumption and services industries.
Swiss franc soars, stocks tank as Euro peg scrapped, CNBC
The Swiss National Bank (SNB) shocked the investing world on Thursday by removing its 3-year old peg of 1.20 Swiss francs per euro. The Swiss franc drastically appreciated against global currencies in the span of several hours. Implications of the depegging include a slowdown in the Swiss economy as a result of expensive exports, and problems for currency traders and anyone with bets on stable rates.
China's economic growth slowed to 7.4% in 2014, beating estimates of 7.3% but touching on growth levels not seen since 1990. Beijing notes that 7% growth is the minimum necessary to create jobs given China's population. Slower growth is in-line with Communist leaders aiming for shifting the economy towards a model based on domestic consumption and services industries.
Swiss franc soars, stocks tank as Euro peg scrapped, CNBC
The Swiss National Bank (SNB) shocked the investing world on Thursday by removing its 3-year old peg of 1.20 Swiss francs per euro. The Swiss franc drastically appreciated against global currencies in the span of several hours. Implications of the depegging include a slowdown in the Swiss economy as a result of expensive exports, and problems for currency traders and anyone with bets on stable rates.
QE is coming, but on German terms, Economist
When the European Central Bank (ECB) meets this Thursday January 22, is will have a momentous decision on its hands. Mario Draghi, the ECB's president, seems determined to pursue QE in some form. Whether or not the ECB buys sovereign debt in the weighted fashion economic size it has employed in the past, or if it focuses solely on the debt of ailing nations' economies, is yet to be seen.
When the European Central Bank (ECB) meets this Thursday January 22, is will have a momentous decision on its hands. Mario Draghi, the ECB's president, seems determined to pursue QE in some form. Whether or not the ECB buys sovereign debt in the weighted fashion economic size it has employed in the past, or if it focuses solely on the debt of ailing nations' economies, is yet to be seen.
Report says richest 1% will control most wealth by 2016, USA Today
According to Oxfam, a British charity dedicated to fighting poverty, the world's richest 1% will control over 50% of the world's wealth by 2016. The 80 richest people in the will own $1.9 trillion in wealth. In 2014, the richest The report was published in advance of this week's World Economic Forum to provoke discussion and change among world leaders.
According to Oxfam, a British charity dedicated to fighting poverty, the world's richest 1% will control over 50% of the world's wealth by 2016. The 80 richest people in the will own $1.9 trillion in wealth. In 2014, the richest The report was published in advance of this week's World Economic Forum to provoke discussion and change among world leaders.
Vocabulary:
Currency peg http://www.investopedia.com/terms/c/currency-peg.asp
Sovereign debt http://www.investopedia.com/terms/s/sovereign-debt.asp
Covered bonds http://www.investopedia.com/terms/c/coveredbond.asp
Bundesbank http://www.investopedia.com/terms/b/bundesbank.asp
Oxfam http://en.wikipedia.org/wiki/Oxfam
Currency peg http://www.investopedia.com/terms/c/currency-peg.asp
Sovereign debt http://www.investopedia.com/terms/s/sovereign-debt.asp
Covered bonds http://www.investopedia.com/terms/c/coveredbond.asp
Bundesbank http://www.investopedia.com/terms/b/bundesbank.asp
Oxfam http://en.wikipedia.org/wiki/Oxfam
Calendar, Jan 20-23 (Nasdaq Economic Calendar)
- Jan 20: Housing market index; US State of the Union; earnings from JNJ, HAL, NFLX, MS
- Jan 21: Housing starts; AXP, EBAY, KMI, URI
- Jan 22: ECB meeting; PMI Manufacturing index; CP, LUV, SBUX, UAL
- Jan 23: Existing home sales; GE, KMB
Predictions from last week: 2/3 All-Time: 2/3
- Dollar strengthens: CORRECT
- Crude drops: WRONG
- Alcoa beats: CORRECT
Predictions Jan 20-23:
- NFLX beats estimates on strength of picking up Friends catalog
- LUV and UAL beat estimates following strong earnings from DAL
- ECB not deviating from weighted bond-buying approach
Participants: S. Ballantyne, K. Meenan
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