Daily Digest

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Daily Digest 2/18 - China Home Prices Fall, How Central Banks Have Lost Control Of The World

Wednesday, February 18, 2015, 10:51 AM

Economy

More stimulus expected as Japan exits recession

Japan's economy limped out of recession in the last quarter of last year, official data showed yesterday, but analysts said the weaker-than-expected growth would likely press the central bank to introduce fresh stimulus measures.

How low can they go? Central bank policy easing in 2015

Below is a chronological list of central bank actions taken to counter deflationary pressures stemming largely from collapsing oil prices, or to boost flagging growth:

Chinese home prices fall for ninth month

The average price of new homes in China's 70 major cities fell 0.4% in January from the month before, marking the ninth consecutive decline.

How central banks have lost control of the world

From engaging in 'competitive easing' to provoking international currency wars, have we finally reached the limit of what monetary policy can achieve? Click on the countries below to find out

Emanuel Enlists Obama to Paint Himself as Mayor for All Chicago

The city faces possible insolvency. The crisis, rooted in $20 billion in unfunded pension liabilities, belies Chicago’s nickname, “The City That Works.”

Its obligations have soared in the past decade, reaching almost $12,900 for each resident in fiscal 2013, up from $4,300 in 2004, according to the Civic Federation, a nonprofit research group that specializes in government finance.


Portugal’s public debt reaches 224.5 billion euros in 2014

Portugal’s public debt at the end of 2014 is expected to have stood at between 127.9 percent and 128.7 percent of gross domestic product (GDP), according to estimates from the Technical Budget Support Unit (UTAO), published Monday in Lisbon.


Greek banks to run out of collateral in 14 weeks: JP Morgan

Greek banks are losing around 2 billion euros of deposits a week, a pace of outflows which, if maintained, will see them run out of collateral for new loans in 14 weeks, according to JP Morgan.

Aging water mains a $1-billion headache for DWP (Los Angeles)

About one-fifth of the city's water pipes were installed before 1931 and nearly all will reach the end of their useful lives in the next 15 years. They are responsible for close to half of all water main leaks, and replacing them is a looming, $1-billion problem for the city.

Draghi QE Crusade Challenged by Hoarders Amassing Bonds

It took the Fed almost six years, and three rounds of quantitative easing, to boost its holdings to about 20 percent of U.S. Treasuries.

The Bank of England owns about 31 percent of Britain’s gilts and the Bank of Japan is still adding to holdings of that nation’s debt. Together, those purchases are crimping the amount of securities worldwide that are available for trading.

Spanish Bonds to Suffer as Podemos’s Iglesias Rises in Polls

Pablo Iglesias’s pledge to restructure $1.1 trillion of Spain’s debt could make investors more cautious about the nation’s bonds, a survey showed.

Rajoy Faces Podemos-Style Insurgency Targeting Core Vote (Spain)

Podemos has turned the Spanish political sytem on its head since the party was founded a year ago and now leads in the polls, with 27.7 percent support in February in the Metroscopia poll.

Spain's 2014 public debt at 98.1% of GDP, exceeds estimates

Spain ended 2014 with public debt at 1.03 trillion euros, equal to 98.1% of GDP and higher than the 97.1% target. The figures were released on Tuesday by the Bank of Spain.

Gold & Silver

Click to read the PM Daily Market Commentary: 2/17/15

Provided daily by the Peak Prosperity Gold & Silver Group

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