Chinese Deflation Fears Exaggerated

Jul 02, 2015 22:45 pm UTC| Commentary

Volatile trading in mainland Chinese equity markets, policy risk given no pre-set schedule for decisions, and macro releases that themselves may influence policy risks will all potentially have China contributing to the...

Brazil's gross public debt could rise by 6.9% of GDP this year to 65.8%

Jul 02, 2015 22:16 pm UTC| Commentary

Having risen to 58.9% of GDP in 2014 from 53.3% in 2013 (both based on revised estimates published earlier this year), gross public debt has risen further, to 62.5% in May 2015, although net debt actually fell from 34.1%...

Brazil's fiscal balance deteriorated significantly over first five months

Jul 02, 2015 22:08 pm UTC| Commentary

In the first five months of the year the accumulated fiscal deficit has risen to -BRL173.4bn as against -BRL70.1bn over the same period last year. However, the fiscal balance deteriorated more sharply in H2 last year as...

Fed challenged by international developments and not yet decisive data

Jul 02, 2015 21:52 pm UTC| Commentary

Developments in Greece and China further complicate the Feds decision-making process. Although contagion has remained muted so far, international developments imply greater uncertainty for the global backdrop. This comes...

China struggles to support equities and growth

Jul 02, 2015 21:45 pm UTC| Commentary

In parallel to the political drama in Greece, Chinas authorities took decisive easing measures last weekend, including benchmark rate cuts, RRR cuts and a relaxation of margin regulations. This was a direct response to...

Greece decides about euro exit, but contagion subdued

Jul 02, 2015 21:42 pm UTC| Commentary

Greeces referendum vote this Sunday is ultimately a decision on its membership in the euro, even if PM Tsipras denies this. We find it very difficult to imagine how, after a no vote, Greece and its creditors could...

Russian inflation continuing its downward trend

Jul 02, 2015 20:57 pm UTC| Commentary

Russia CPI inflation for June will be released next week. With inflation dropping rapidly, it is expected to decline to 15.4% y/y from a high of 16.9% in March . This will mean that Q2 inflation has been a little over 1%,...