Tuesday, 8 September 2015

A few macro and related stories today

A few macro and related stories today...

Europe – Still some financial sector pressures. JP Morgan Expect European Banks To See EUR 137bn Impact From Capital Harmonisation.  13 banks will fall short by €26.4bn. Most banks target CET1 ratios of 10 to 15 per cent, well above regulatory minimums.  No wonder we see this:

Greece – the latest: Pulse Poll: Syriza 27%, ND 26.5% (Reuters).  Feels like a coalition very likely. 

Asia – fifth successive days of losses in China as Chinese imports fell 13.8 per cent year-on-year in August (vs forecasts at -7.9 per cent).  A worry?  Well there are lots of fluctuations and impacts. I note the trade surplus is there or thereabouts...

Still lots of chat re Chinese reserves...and you can see why: 

Also in the region Australian business confidence fell to a seven month low and Japanese GDP revisions, while better than expected, showed a decline in capital expenditures and don't point to a strong third quarter recovery.  Moody’s also cuts regional growth 

Inflation – lack of etc.

And finally...yet another chart showing a lack of potential growth prospects: 

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