US Non-manufacturing ISM to rise modestly

Jul 06, 2015 03:47 am UTC| Commentary

The US manufacturing ISM report released last week suggests that the factory sector is rebounding from its earlier weakness. The non-manufacturing ISM index has fared muchbetter all along and is expected to remain at a...

‘No’ vote, Grexit not a foregone conclusion

Jul 06, 2015 03:39 am UTC| Commentary

The Greek referendum appears to have led to a large victory of the No vote. At 1am CET, with 90% of the vote counted, the No was largely ahead with 61.5% of votes. A rejectvote at the referendum marks a first step towards...

Implementation and legal risks implied if Greece IOUs introduced

Jul 06, 2015 03:33 am UTC| Commentary

The logistical organisation needs to be put in place swiftly and smoothly while social order needs to be maintained at Greece.As seen in Argentina, introducing IOUs could risk backfiring into full force devaluation. In the...

Greece likely to issue a form of parallel currency

Jul 06, 2015 03:25 am UTC| Commentary

Indeed, the Greek government is already running a primary budget deficit and no other form of funding will be available in the coming weeks. It is worth noting that if the ECB was to decide to reduce or stop allowing Greek...

ECB running out of reasons to maintain ELA funding

Jul 06, 2015 03:10 am UTC| Commentary

Greek banks are supposed to open on Tuesday. After the No vote, Greeks banks will likely remain closed for a longer period and capital controls and cash withdrawals will probably be tightened, less than 60 per day and per...

Taiwan’s core CPI to stabilise

Jul 06, 2015 01:39 am UTC| Commentary

Taiwans CPI inflation is expected to inch higher from -0.7% yoy in May to -0.6% yoy in June, thanks to higher food price inflation. Daily price data suggested that vegetables, fruits and meat prices all increased over the...

Australian labour market holding up well in the great transition

Jul 06, 2015 00:54 am UTC| Commentary

Notwithstanding the outsized 42k jump in employment in May (equivalent to an annualised rate of 4.4%), net job creation is expected to have remained positive in June, albeit only just.The recent data suggest that the job...