Global Economic Outlook

7 recent stories you may have missed (5 May 2015)

Here's a roundup of some of the stories that have been popular on the Savvy Investor site in the last few days. 

Recent news & blogs you may have missed:

1. Nouriel Roubini – “The US dollar has joined the Currency Wars” (Project Syndicate)

The US Fed has effectively joined the currency war to prevent further dollar appreciation.  Nouriel Roubini argues that verbal intervention will be followed shortly by policy action.

2. Stephen Roach – “The world economy is in the grips of a dangerous delusion” (Project Syndicate)

Former Morgan Stanley Chairman Stephen Roach argues that current policy prescriptions will lead to more asset bubbles, financial crises, and Japanese-style secular stagnation.

3. US inflation expectations have broken decisively upwards, and will continue upwards (Sober Look)

Market sentiment has changed, as fresh signs appear that US inflation has bottomed.

4. Gavyn Davies – “China may join the unconventional monetary policy club”

Weaker than expected economic activity is likely to lead to a significant further easing in economic policy, including important steps towards unconventional monetary easing. 

5. Economic data is falling short in the world’s largest two economies (GaveKal)

Economic surprises in the US and China have been coming in on the downside.

6. The Australian Central Bank cut rates this morning (National Australia Bank)

NAB report that the 25bps rate cut to 2% follows encouraging inflation numbers, and should reinforce recent positive trends in household demand.

7. Interest-Bearing Securities With Interest Rates Below Zero (New York Fed)

New paper from the New York Federal Reserve explores a few of the key, practical challenges that we could face as capital markets and money adjust to negative rates.

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