Europe

The promises of reform at Foxconn are the latest of many as China painfully adjusts to the inevitable social realignment that comes with a capitalist economy. What is occurring in China now happened in Europe during the transition from…

According to their own public comments, the EU, ECB and IMF do not have much confidence that their agreement with Greece will avert default. Instead they are apparently trying to isolate Greece, delay its eventual default, prevent…

The G20 will meet in Mexico this weekend. There seems to be three key issues: IMF funding, replacement for Zoellick, who will step down as head of the World Bank, and the oil shock. It is unlikely that any of these issues are resolved at…

The US dollar is broadly weaker on the day but with most major currencies still trading within a relatively narrow range. The euro rose to an intraday high of 1.3343 following strong German IFO data, a level not seen since December, before…

There have been four noteworthy developments today that will shape the investment environment.

The US dollar is continues its broad rally as doubts over Greece persist, although currencies continue to trade in relatively tight ranges. While European drama continues to command attention, the yen has quietly depreciated and is now at…

So Greece has finally been awarded a second bailout. One may wish the country will live to tell the tale. According to IMF DG Christine Lagarde, speaking at the post agreement press conference, “It’s not an easy (program), it’s an…

The official creditors won the battle. Greece will be given the money so that they can service their debts. They will have an EC task force embedded into Greece to push for compliance and the escrow-like account ensures a priority to debt…

The US dollar is advancing against the majors and most EMs as the “sell the fact” theme prevailed following the approval of the Greek bailout. Note, of the €130 bln aid package, the vast majority (roughly 85%) is being used to bail out…