Fw: U.S. Fed chief cites sputtering housing market as a worry

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From: "CFA Institute Financial NewsBrief: Asia Pacific Edition" <cfa_ap@smartbrief.com>

Date: Thu, 8 May 2014 17:30:50 -0500 (CDT)

To: <mainandwall@yahoo.com>

Subject: U.S. Fed chief cites sputtering housing market as a worry

Yellen cites sputtering housing market as a worry | Numerous factors to weigh on China banks this year, economist says | Ukraine rebels push for Sunday vote despite Putin Created for mainandwall@yahoo.com |  Web Version   May 9, 2014 SIGN UP | FORWARD | ARCHIVE Top Stories Yellen cites sputtering housing market as a worry In her latest remarks before Congress, U.S. Federal Reserve Chair Janet Yellen cited the housing market as a laggard as other indicators point to an improving economy. "The recent flattening-out in housing activity could prove more protracted than currently expected, rather than resuming its earlier pace of recovery," Yellen said, adding that the Fed would keep an eye on the situation. The Wall Street Journal (tiered subscription model) (5/7) Share:  Numerous factors to weigh on China banks this year, economist says This year is shaping up as a year of major risks for China's banks, according to Xiang Songzuo, chief economist at the Agricultural Bank of China. Xiang cites the convergence of several factors, including shadow banking, industrial overcapacity, the burden of local government debt and the possibility of lower housing prices. "All these problems will be manifested in more bad loans, and that's why the banks will have an increasingly difficult time," Xiang said. China.org.cn (China)/Xinhuanet (5/8) Share:  Ukraine rebels push for Sunday vote despite Putin Rebels in eastern Ukraine are proceeding with a Sunday vote on separating from Ukraine despite the entreaties of Russian President Vladimir Putin in an apparent softening of Moscow's stance. Financial Times (tiered subscription model) (5/8) Share:  ECB holds rates but points to June adjustment The European Central Bank left its rates on hold Thursday, but President Mario Draghi strongly hinted that an adjustment will be forthcoming at the bank's meeting next month. Policymakers await further data, but Draghi said that "the strengthening of the exchange rate in the context of low inflation is cause for serious concern." In all, his remarks were taken to mean the bank may be preparing for negative interest rates. Bloomberg (5/8), Bloomberg (5/8) Share:  Bank of England steers steady course Although operating on a new forward guidance policy based on labor capacity, the Bank of England stood fast Thursday on its 0.5% interest rates and its bond buying. Financial Times (tiered subscription model) (5/8) Share:  Becalmed global economy heralds Great Moderation Experts are converging around the notion that the global economy is settling into a second round of the so-called Great Moderation that preceded the 2007 crisis. Market volatility and measures of risk are low and giving equities a growing advantage over bonds. Overall, persistently low interest rates, a policy focus on unemployment and calm markets are making for a "new macro-economic reality," said Ian Harnett, managing director at Absolute Strategy Research. Bloomberg (5/8) Share:  CAREERS at CFA Institute Director, Curriculum Projects Head Education, APAC Advertisement   Market Activities Regulatory Update StanChart Korean unit is scolded over derivatives accounting South Korea's Financial Supervisory Service has reprimanded the Korean unit of Standard Chartered Bank over violations of rules involving 1 trillion won worth of derivatives trades. The FSS said the bank recorded only the contracts advantageous to it in accounting books. Punitive measures may be forthcoming. Yonhap News Agency (South Korea) (subscription required) (5/8) Share:  Philippines to test banks' exposure to real estate Noting the problematic nature of real estate lending in many banking systems, the Philippine central bank is planning stress tests for the nation's lenders in a bid to avoid a property bubble. The plans include introduction of a residential property-price index by midyear. Bloomberg (5/8) Share:  Hong Kong regulator hands out fine, 2 life bans Hong Kong's Securities and Futures Commission has fined Kaiser Securities and Kaiser Futures for unauthorized activities under Macau law and banned two former bankers at ABN Amro and Standard Chartered from the industry for life. AsianInvestor.net (5/8) Share:  Economic Trends & Outlook China's exports up in April China's export figures decisively defied expectations of a decline and rose 0.9% last month from a year before while imports gained as well. The trade surplus for April came to US$18.46 billion, indicating the recent slowdown in China may be easing as the global economy continues to recover. Bloomberg (5/8), The Wall Street Journal (tiered subscription model) (5/8), Shanghai Daily (China)/Xinhuanet (5/8) Share:  Power-flexing China labor raises concerns China's increasingly scarce, restive, organized and powerful labor force is posing a problem for local governments concerned that wage demands will spur an exodus of industries. Financial Times (tiered subscription model) (5/7) Share:  U.S. wage gains seen pushing Fed on rates One little-discussed factor that may drive the U.S. Federal Reserve to raise rates this year is the recent trend in wage gains, including the 2.3% annualized rise recorded last month, according to Deutsche Bank international economist Torsten Slok. Looking ahead, an economy that stays in recovery mode will lead to "more and more wage pressure" and "will force the Fed to turn more hawkish," Slok said in a report. Bloomberg (5/8) Share:  U.S. jobless claims decline The number of Americans filing for unemployment benefits fell last week. Although the four-week moving average for claims was up, analysts say the longer-term trend is encouraging as employers cautiously step up hiring while awaiting signs of stronger consumer demand. Bloomberg (5/8) Share:  South Korean won's rise comes as domestic spending wanes The stronger won threatens to cut into South Korean exports, weakening the nation's international trade position just as domestic spending slumps in the wake of last month's ferry disaster. And the outlook is for further gains in the Korean currency. MK.co.kr (South Korea)/Yonhap News Agency (South Korea) (5/8) Share:  Australia job picture improves as hiring picks up Australia's jobless rate held steady at 5.8% last month as employers added 14,200 jobs, suggesting an economy that continues to mend and pushing the Australian dollar higher. "Full-time jobs growth has improved markedly so far this year. Further, these indicators are consistent with the unemployment rate sitting around its current level, or possibly a little lower, in the near term," said Justin Fabo, senior economist at Australia & New Zealand Banking Group. Bloomberg (5/7) Share:  Some fear budget slashing will undermine Australia recovery Australia's economy is still tentatively adjusting to the end of a mining boom, but the prospect of impending budget cuts under the new government could undo the progress made so far, some fear. The government of Prime Minister Tony Abbott contends belt-tightening is imperative even though, as many point out, Australia's debt and deficit situation is much less imposing than those of the U.S. and Europe. The Wall Street Journal (tiered subscription model) (5/7) Share:  Taiwan exports climb 6.2% in April Taiwan's exports rose 6.2% in April from a year before on the back of a recovering global economy. Electronics led the way, but gains were broadly based across sectors. The Taipei Times (Taiwan) (5/8) Share:  Capital Markets & Financial Products Survey finds Australian investors looking overseas Offshore assets are the object of increasing interest from Australian investors looking for higher returns in what appears to be a less risky global environment, according to a survey by Certitude Global. "While it is true that a number of investors expressed concerns about some of the big issues, including instability in the Ukraine and Russia, a slowdown in the Chinese economy and the possibility of another market crash, this clearly did not influence their positive outlook for international markets," said Certitude CEO Craig Mowll. The Sydney Morning Herald (Australia) (5/8) Share:  People & Personalities Chae Sun-Byoung is promoted at Bank of Korea Chae Sun-Byoung has been named director general of reserve management at the Bank of Korea. Chae comes to the job from a series of previous posts at the bank, including the departments of investment management, investment strategy and risk management. AsianInvestor.net (5/8) Share:  Learn more about CFA -> About CFA Institute | Advertise | Educational Resources | Social Media Subscriber Tools Please contact one of our specialists for advertising opportunities, editorial inquiries, job placements, or any other questions.   Editor:  Sean McMahon Contributing Editor:  Jim Berard     SIGN UP   SHARE   SEND FEEDBACK Update Profile | Change e-mail address | Unsubscribe |  Archive | Web version (print friendly) Download the SmartBrief App  iTunes / Android   Mailing Address: SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004 © 1999-2014 SmartBrief, Inc.® Privacy policy |  Legal Information

Fw: Conservatives For Regulation

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From: "The Daily Show" <ComedyCentral@email.comedycentral.com>

Date: Thu, 8 May 2014 21:41:42 -0000

To: <mainandwall@gmail.com>

ReplyTo: "Comedy Central" <support-b6xv2stb5bz42xauym4twqck1qq2ys@email.comedycentral.com>

Subject: Conservatives For Regulation

Having trouble viewing this message? Click here.   FEATURED VIDEO       F**k, It's in My Backyard       Jordan Klepper discovers a chemical spill in West Virginia that led some conservatives to inexplicably begin supporting regulation of the chemical industry.     View our Privacy Policy | Unsubscribe Comedy Central | 345 Hudson St | New York, New York 10014 © 2014 Comedy Central.

Fw: Introducing a new publications series from the Cato Institute

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From: Jeffrey Miron <store@cato.org>

Date: Wed, 7 May 2014 19:06:58 +0000

To: <mainandwall@yahoo.com>

ReplyTo: Jeffrey Miron <store@cato.org>

Subject: Introducing a new publications series from the Cato Institute

Dear Friends:

The Cato Institute is pleased to announce a new publications series: Research Briefs in Economic Policy. In each issue, noted academic economists will summarize their recent research on key economic policy matters. I will serve as editor, and while the topics will be highly focused, the publication is aimed at a wide audience. As such, we will minimize jargon and unnecessary complexities; our goal is to inform, clarify, and enhance economic policy analyses and discussions.

The first issue in the series, “Donating the Voucher: An Alternative Tax Treatment of Private School Enrollment” is now posted online for reading and downloading. 

We will be releasing future Research Briefs approximately twice a month. Upcoming issues include discussions on immigration, government employee benefits, the impact of the Affordable Care Act on full-time employment, and more.

I hope you enjoy Research Briefs, and I am grateful for your support and interest in Cato’s work.

Best regards,

Jeffrey Miron
Harvard University and Cato Institute

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Fw: Cato University 2014

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From: Cato Institute <bdunn@cato.org>

Date: Wed, 7 May 2014 00:32:30 +0000

To: <mainandwall@yahoo.com>

ReplyTo: Cato Institute <bdunn@cato.org>

Subject: Cato University 2014

The Cato Institute invites you to an event. View this email in your browser Cato University returns to the West Coast for 2014! The Cato Institute's premier educational event, this annual program brings together outstanding faculty and participants from across the country and, often, from around the globe in order to examine the roots of our commitment to liberty and limited government, and explore the ideas and values on which the American republic was founded.   Cato University 2014 July 27, 2014 - August 1, 2014 Rancho Bernardo Inn, San Diego, CA Registration and details: www.cato-university.org This year's program will be held at the magnificent Rancho Bernardo Inn, which is just a few miles north of San Diego. Its world-class facilities, resort amenities, spa, and immediate access to the best of San Diego make this special learning experience a tremendous vacation. Speakers for the 2014 Program Include: • Randy Barnett, Georgetown University Law School • Louise Bennetts, Cato Institute • Erik Gartzke, University of California at San Diego • Jeffrey Miron, Harvard University • Robert McDonald, United States Military Academy • Tom G. Palmer, Cato Institute For a full list of Speakers and Registration Information, please visit www.cato-university.org. No Price Increase for 2014: We've kept the cost of Cato University at $995. This price covers all meals, receptions, lectures, materials, books, and evening events, but not overnight room charges. However, we have been able to arrange an exceptionally low room rate for participants at the Rancho Bernardo Inn.   If you are unable to attend Cato University but would like to contribute to the Bastiat Scholarship Program to support student attendance — click here. SPECIAL NOTE: Please indicate that you would like your donation directed to the Cato University scholarship program in the optional Comments box at the end of the contribution form. If you have any questions about registration or the 2014 program, please email Lexie Bubb or Brandi Dunn, or call 202-218-4606. We hope to see you in July! Support Cato 1000 Massachusetts Ave, NW, Washington, DC 20001-5403 Phone (202) 842 0200   SOCIAL MEDIA   FACEBOOK   TWITTER   GOOGLE+   YOUTUBE   RSS   Share Tweet +1 Unsubscribe / Manage Subscriptions mainandwall@yahoo.com why did I get this email?