World economy talk

[uls]

the markets are so boring there's nothing to post

[uls]

markets are in a holding pattern

waiting for Uncle Ben

Uncle Ben will appear before congress tonight

[uls]

[uls]

Uncle Ben:

Committee participants also saw inflation moving back toward our 2 percent objective over time. If the incoming data were to be broadly consistent with these projections, we anticipated that it would be appropriate to begin to moderate the monthly pace of purchases later this year. And if the subsequent data continued to confirm this pattern of ongoing economic improvement and normalizing inflation, we expected to continue to reduce the pace of purchases in measured steps through the first half of next year, ending them around midyear. At that point, if the economy had evolved along the lines we anticipated, the recovery would have gained further momentum, unemployment would be in the vicinity of 7 percent, and inflation would be moving toward our 2 percent objective. Such outcomes would be fully consistent with the goals of the asset purchase program that we established in September.

gold

[Monseratto]

sounds like San Miguel Corp

SMC shares fall, recover as Ang steps in | Business, News, The Philippine Star | philstar.com

SMC shares fall, recover as Ang steps in
By Prinz P. Magtulis and Neil Jerome C. Morales (The Philippine Star) | Updated July 18, 2013 - 12:00am


MANILA, Philippines - Shares of diversified conglomerate San Miguel Corp. (SMC) plummeted early yesterday before bouncing back to gain at the end of trading after a report that connected it to a “highly leveraged conglomerate” at risk of default was downplayed.

Stocks of the Ang-led corporate powerhouse lost as much as 9.6 percent to P76.40 in early trades before recovering in the afternoon to settle 1.49 percent higher at P85 apiece.

The late rally on SMC shares, nonetheless, failed to lift the Philippine Stock Exchange index (PSEi) which eased 0.13 percent or 8.83 points at 6,574.72.

This was despite officials clarifying a newspaper report last July 14 that quoted the International Monetary Fund’s findings last April, warning the country against large conglomerates with high exposure to bank loans.

The report, written by Manila Times columnist Rigoberto Tiglao, quoted the IMF as saying that a “highly leveraged conglomerate” – which it did not name – is at risk of default, although that risk is currently “low.”

SMC, which has expanded from food and beverage to oil and transportation, initially took the brunt from investors before company president and chief executive officer Ramon Ang stepped in to calm the market.

“Yes SMC can buy back shares and yes SMC has enough funds to do that anytime,” Ang said in a text message.

The statement, First Grade Finance’s analyst Astro del Castillo said, “diffused” investor concerns “on the company’s financial standing.”

He explained Ang is simply saying that SMC has enough funds not only to buy back shares but also to finance its operations.

[uls]

nikkei

[uls]

gonna see sub-2000 SHCOMP again

[uls]

and we see sub 2000 SHCOMP again

[uls]

the collapse of the PC industry is killing MSFT"s Windows business

[dreamur]

Wow! That big a drop? No wonder my hitech stocks are killing me!

Sent from my GT-N7100 using Tapatalk 4 Beta

[uls]

Duchess of Cambridge in labor



https://twitter.com/katie_martin_FX/...21498579394560

NO. RT *TheStalwart: Is the pound really rallying on the Royal Baby news?

https://twitter.com/katie_martin_FX/...45397635514368

Sterling Trades Above $1.53; First Time Since July 3 [dj]>> short squeeeeeeeze. PUUUUSSSSSSSSSSSHHHHHH. etc

[uls]

wondering why US equities are at record highs?

massive inflow

[uls]

HSBC China Flash PMI 47.7 in July 48.2 expected

below 50 indicates contraction

[uls]

boom!

[uls]

my favorite footwear brand

[uls]

looks like Abenomics* is working

Japan core CPI turns positive, posts fastest rise in nearly 5 yrs | Reuters

(Reuters) - Japan's core consumer prices turned positive and rose 0.4 percent in June from a year earlier, marking the fastest pace of increase in nearly five years, data showed on Friday, suggesting the government's efforts to eradicate years of deflation are bearing fruit.

*Abenomics Definition from Financial Times Lexicon

[uls]

usdjpy below 99


nikkei down 400pts

[glenn manikis]

sir uls... forecast nyo po sa peso to the dollar rate?

bakit po ba tumataas ngayon ang value ng dollar?

[uls]

USD strengthened coz foreign funds started cashing out several weeks ago

things have stabilized so i guess we'll see USDPHP hold the 43 level

or maybe fall to 42

[uls]

boom!