2014

George Magnus is one of the few economists that could claim to have predicted the financial crisis which began in 2007. And last night, he spoke with great concern about the budding crisis now ongoing throughout the emerging markets. I have…

Russian Economy Minister Ulyukayev proposed a possible delay to the ruble free float from the current 2015 target. Remarks are noteworthy, as most officials have consistently said the float would come in 2015. He added that the ruble float…

Right now, everyone is talking about an emerging markets crisis due to the simultaneous turmoil in several emerging markets. I am not concerned about this being a full-blown crisis yet. At the same time, I do want to use this as a launchpad…

News links for 29 Jan 2014

Central banks of several nations who are experiencing sharp currency declines are taking action to stabilize the situation. But not the Russians. The nation's central bank likes the weak ruble because the currency decline boosts the…

- The most important development has been the dramatic rate hike by the central bank of Turkey - The effective tightening by the Turkish central bank was 2.25% - a lot less dramatic than the headlines would suggest - The rate hikes in…

By Marc Chandler Political developments in Italy are happening faster than Prime Minister Letta can maneuver. The economy he is overseeing is the poster child of ECB President Draghi's assessment of a weak, fragile and uneven recovery in…

Like last quarter, Apple set another record for revenue in its first quarter of 2014. However, margins at Apple have receded, turning year-on-year profit comparisons negative for yet another quarter. Earnings per share are up because of…

News links for 28 Jan 2014

As the emerging markets contagion spreads, the BRIC nations are coming under increasing pressure in the capital markets. As discussed previously Brazil and Russia are witnessing new multi-year/record lows in their currency valuations.