Long pegged as a currency manipulator, China might be about to get a big stamp of foreign-exchange credibility. The International Monetary Fund is reportedly close to calling the Chinese yuan fairly valued. That’s something that hasn’t happened in more than a decade, and it would come despite opposition from the White House, according to the Wall Street Journal.
Europe’s economy has been struggling to maintain decent economic growth, especially outside of Germany. The appearance of headline deflation stoked fears that the the European Central Bank’s bond-buying program wouldn’t be enough to breathe life into the Continent.
Merrill Lynch’s private banking group is looking out for its clients’ financial interests, so it published a white paper (PDF) on inheritance titled “How much should I give to my family? The risks and rewards of giving”.
When gas prices tumbled, American consumers unexpectedly socked away their savings at the pump instead of spending them elsewhere.
Standard & Poor’s has a new report out looking at how millennials will shape the future. It’s largely optimistic, laying out expectations for a recovering economy to loosen up the wallets of young spenders, though it doesn’t fail to discount just how hard the last few years have been.
Talk about awkward timing.
South Korea, once a shining star among Asia’s emerging economies, isn’t burning as bright these days.
Tensions have been rising in Greece as the country inches closer to running out of money.
Chinese stocks performed really well this week. Again.
Japan just hit two milestones it hasn’t seen in a while.
North Dakota, the epicenter of both the shale oil boom and bust, is starting to really feel the pain: the state’s unemployment rate hit 3.1% in March.
The people of Russia are having a hard year.
Global markets went crazy this week, scrambling all those big narratives we had become so familiar with. The resurgent US dollar? Beaten back. The sturdy German stock market? Looking a little weak. Burned oil? On fire and up almost 10%. Tottering Greece? Well, Grexit fears are starting to feel very real, so that wasn’t much of a surprise. Yet even the mighty Bloomberg terminal couldn’t make it out unscathed, suffering a major outage and dragging down a UK sovereign debt auction with it.
In the run-up to the 2008 financial crisis, putting America’s black and Hispanic borrowers into dicey subprime loans was like shooting fish in a barrel—and segregation shrank the barrel.
US industrial production slowed down last month, but it was nothing compared with the drop-off in oil and gas drilling.
Two of America’s largest creditors, Japan and China, are about to switch places.
Bankers, on your marks!
Who needs trade when you can trade.
Last week, all the action was in mainland Chinese stocks. This week the big story was in Hong Kong.
Amid the rancor over its debt restructuring efforts, it is important to remember just how bad things are in Greece.
