Commentary
We publish information about the five most important events happened last week on the market.
1. Even pessimists feel optimistic about the American economy
For more than a decade, the economy has failed to grow the way it once did. Unemployment has not stayed this high, this long, since the 1930s.But could the New Normal, as this long economic slog has been called, be growing old?
Read more:
http://www.nytimes.com/2013/06/16/b...optimistic-over-economy.html?ref=economy&_r=0
2. Central banks’ failure to communicate boosts bond yields
What central banks may have the world over is a failure to communicate. Officials are struggling to spell out their visions for monetary policy, often amid a chorus of competing views. Chairman Ben S. Bernanke is trying to manage expectations about when theFederal Reserve will slow asset purchases and raise interest rates. Bank of Japan Governor Haruhiko Kuroda’s reflation-push is backfiring by driving up bond yields. European Central Bank President Mario Draghi is dashing investors’ hopes he once kindled for extra stimulus.
Read more:
http://www.bloomberg.com/news/2013-...ailure-to-communicate-boosts-bond-yields.html
3. Japan stocks jump, lead Asia ahead of Fed meet
Most Asian markets extended gains on Monday, with Japanese stocks staging a strong rebound from a weak start as many major exporters climbed on the yen’s retreat.
Read more:
http://www.marketwatch.com/story/japan-stocks-rebound-as-asia-awaits-fed-meeting-2013-06-16
4. New leak indicates US and Britain eavesdropped at world conferences
A new set of classified documents disclosed Sunday suggested that Edward J. Snowden, the former National Security Agencycontractor who has provided a trove of documents to The Guardian newspaper, had obtained a wider range of materials about government surveillance than had been known, including one document revealing how American and British intelligence agencies had eavesdropped on world leaders at conferences in London in 2009.
Read more:
http://www.cnbc.com/id/100819296
5. The cheapest thing going is gone
After enduring a decade of criticism for its weakness, China’s currency now looks uncomfortably strong.
Read more:
http://www.economist.com/news/china...kness-chinas-currency-now-looks-uncomfortably