Balancing the roles of the ECB
Monday 10 December, 12:15
London
A discussion with Ignazio Angeloni, member of the supervisory board at the European Central Bank. The meeting will focus on how the ECB balances its roles of monitoring the euro area’s banking sector whilst stimulating banks to lend more.
Topics include the assessing the condition of the banking sector, reduction of the level of non-performing loans, improvements in banks’ balance sheets and setting the right macroprudential...
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: US-China trade conflict remains one of the major market themes with investors eagerly awaiting the planned meeting between US President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the G20 summit in Argentina on 31 November – 1 December. Against this background, investors retain a cautious stance towards risk assets while core government bonds remain well supported. Meanwhile, market sentiment towards...
(MIAMI; November 27, 2018) – Consumers needing to send holiday gifts to Puerto Rico, the Caribbean or Central America from online retailers or U.S.-based retail stores now can get items there faster with Crowley Logistics’ speed-to-market, less-than-containerload services designed for small-to-medium-sized cargo. In addition to providing one- to three-day transit times within several key markets in the Caribbean Basin, Crowley offers additional time-saving services such as a walk-up...
Commentary: Countries victims of ‘ninja’ loans
By Herbert Poenisch in Beijing
Countries need infrastructure in much the same way that US families needed houses before the 2008 financial crisis. The ‘American dream’ was to provide everyone with their own home. Similarly, poorer countries dream of infrastructure, to propel them to prosperity. People in the US bought houses through ‘no income, no jobs, no assets’ (‘ninja’) loans, unsure of how to reimburse their bank. Countries are doing the same...
Commentary: ECB must address QE misallocation risk
By Frank Westermann in Osnabrück
By the end of this year, the European Central Bank is expected to end its monthly net asset purchases. This raises several questions about the ECB’s reinvestment strategy and the implications for individual countries. The central bank’s quantitative easing programme was not as successful as believed. The real issue for the ECB governing council to address when discussing fiscal implications of reinvestment is...
El WSJ confirma que está a la venta el segundo terminal de contenedores más grande de USA. La desinversión obedece a una serie de requerimientos que debe cumplir la gigante línea contenerizada China COSCO CL para poder adquirir la línea OOCL con cede en Hong Kong. Una de las terminales de carga de...
https://fullavantenews.com/a-la-venta-el-segundo-terminal-de-contenedores-mas-grande-de-usa/?lang=es
The US Army Corps of Engineers has granted $46 million for the Jacksonville Harbor deep draft navigation project. This will be additional to the $50 million in federal funding awarded to JAXPORT for the project over the past two fiscal years.
Congressman Rutherford has ensured that JAXPORT keeps on receiving federal support for this deep dredge project. The deepening project already attributes 3 miles on schedule dredging and when it’s completed it will be able to accommodate mega-sized...
https://safety4sea.com/jaxport-to-receive-funds-for-harbor-deepening/
Commentary: Trump stuck with Powell despite strains
By Darrell Delamaide in Washington
Minneapolis Federal Reserve President Neel Kashkari’s defiance on the Fed’s interest rate increases has made commentators wonder if he was angling for Jerome Powell’s job as Fed chair. Donald Trump himself has been complaining loudly and often how much Powell’s policy bothers him. In practice, the US president’s freedom of action in firing a Fed chief is practically non-existent. The Fed has sought to defend...
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: In its updated economic outlook report released yesterday, the OECD said that the global expansion has peaked and revised lower its global GDP growth estimate for 2019 to 3.5% from 3.7% previously, citing continued headwinds from trade tensions, tighter financial conditions and higher oil prices. As was broadly expected, the European Commission took the first step towards initiating an excessive deficit procedure against Italy,...
Commentary: Opening for US-China renminbi action
By Mark Sobel in Washington
Since early April, the renminbi has fallen 10% against the dollar, largely reflecting dollar strength. The causes lie in the cyclical and monetary policy divergence between the US and China. However, there is an alignment of interests. Both want to pursue their domestic economic agendas without the complications of a falling renminbi. This could create an opening for unexpected co-operative action by the US Treasury and...