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The Corner contextualizes the EU’s economy from Spain with exclusive analysis from market leaders.

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China: Be prepared to pass the test of the Fed’s next rates hike

Markets

BEIJING | May 27, 2015 | By Caixin Editorial Team | Emerging economies have been bracing themselves for a rise in U.S. interest rates. Last week, the release of the minutes of the Federal Reserve’s policy meeting in April sparked another round of speculation about when the rate hike might begin. Most now expect a start date in December, rather than September.

Markets

Greek political saga is likely to have implications for FX markets

LONDON | May 27, 2015 | Barclays | Even if a last-minute agreement was negotiated on a technical level, the implied U-turn on election promises would likely push the Greek government into some sort of  political crisis, forcing a change in the current set up.

Greek PM Alexis Tsipras
Markets

Rates do matter

MADRID | May 26, 2015 | By JP Marín ArreseWe take for granted that close to zero rates remain the driving force for delivering growth. The massive liquidity pumped in by Central Banks in developed countries has led to this widespread belief on the merits of cheap money. But such manna brings with it a number of drawbacks. The lack of any sensible reference for pricing in risks turns investment decisions into a perilous gamble. And the economic balance is severely stressed when savings are so harshly punished. 

Easy money
Markets

The IMF tells the BoJ to hit the gas? What about the US Fed?

May 25, 2015 | By Benjamin Cole via Marcus NunesHistorinhas | The International Monetary Fund on May 22 badgered the Bank of Japan to adopt a more aggressive growth stance, even though the island nation posted Q1 real GDP growth of 2.4%, and an annual inflation rate of 2.3%—along with an unemployment rate of 3.4%.

A dollar printing machine
World economy

Oil sector – Drilling deeper: It’s the demand, stupid

May 25, 2015 | BNP Paribas | Data highlights that there is more pain to come for Drillers for the foreseeable future…and the opportunity for further offshore deflation for E&Ps and Majors. 

oil sector
Markets

Bonds to tackle Chinese local debt

BEIJING | May 24, 2015 | By Zhang Yuzhe, Huo Kan and Xing Yun via CaixinA bond program that takes aim at China’s local government debt problem could raise 1 trillion yuan, yet cut creditor yields.

china local bonds
In Europe

Kostas Karamanlis as comeback kid?

ATHENS | May 23, 2015 | By Nick Malkoutzis via MacroPolis | A number of eyebrows were raised last week when an opinion poll suggested that former Prime Minister Kostas Karamanlis, who oversaw Greece’s fiscal derailment between 2004 and 2009, is the most popular candidate to take over from Antonis Samaras as New Democracy leader. 

kostas karamanlis