Thursday, October 27, 2016

Today's Headlines

Posted by Gary .....at 3:08 PM
Bloomberg:
  • A Bearish View of European Banking Sector. (video)
  • OPEC Can’t Succeed Alone as Cuts Would Barely Drain Surplus. Even if OPEC defies a skeptical market by implementing output cuts in full, it still won’t drain the ocean of surplus oil already pumped from the ground. The Organization of Petroleum Exporting Countries aims to shrink the world’s bloated oil inventories with its first production cut in eight years, according to Secretary-General Mohammed Barkindo. Yet the bloc’s own data show that even the maximum reduction under consideration would barely dent record stockpiles next year. That makes securing help from competitors -- chiefly Russia -- critical to ending the glut.
  • Growth Rebound in U.S. Masks Less-Bright Picture of Demand. The U.S. economy’s third-quarter scorecard on Friday will probably show a notable pickup in growth following a sluggish first half. The caveat: It occurred without an acceleration in consumer and business demand. Gross domestic product rose at a 2.6 percent annualized rate, according to the median estimate in a Bloomberg survey, after averaging 1.1 percent in the previous six months. With the biggest part of the economy -- consumer spending -- moderating, much of the projected pickup stems from a narrower trade deficit and a rebuilding of inventories. While a report Wednesday showed a gain in merchandise exports last month, a broad-based drop in imports indicated domestic demand weakened as the quarter drew to a close.
  • Clothing Keeps Getting Cheaper, and Factory Workers Are Paying the Price. Three years after the Rana Plaza disaster, work conditions are still substandard.
Wall Street Journal:
Zero Hedge:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)