A piaci konszenzusnál erősebben, az OTP Bank Elemzési Központjának előrejelzésénél gyengébben alakult az első negyedéves GDP. Az adat megerősítette az OTP elemzőinek az idei év egészére vonatkozó 4%-os növekedési várakozását, a kockázatok felfelé mutatnak.
A piaci konszenzusnál erősebben, az OTP Bank Elemzési Központjának előrejelzésénél gyengébben alakult az első negyedéves GDP. Az adat megerősítette az OTP elemzőinek az idei év egészére vonatkozó 4%-os növekedési várakozását, a kockázatok felfelé mutatnak.
We are glad to share with you the Global M&A Partners' Industrial Insider our quarterly report on M&A transactions. Should you have any queries or M&A project, please contact your local Global M&A Partners industrial sector team member.
Quarterly growth and levels of GDP for the UK
CPI 12-month inflation rate for the last 10 years: September 2006 to September 2016
Male and Female Employment Rates in the UK
Non-UK nationals working in the UK labour market
Components of Aggregate Demand in recent years
UK unemployment rates by region, seasonally adjusted, June to August 2016
Average UK house price, January 2005 to August 2016, not seasonally adjusted
Constant price GDP per hour worked for G7 countries, 2000 to 2015
Quarterly growth of GDP and GDP per head for UK
Economic Growth for the UK and the EU(28)
UK Bond Yields during 2016
Sterling Exchange Rate (as an index number)
UK Trade Balances By Sector (% of GDP)
UK Current Account Components (% of GDP)
Contributions to CPI Inflation (%)
We are glad to share with you the Global M&A Partners' Industrial Insider our quarterly report on M&A transactions. Should you have any queries or M&A project, please contact your local Global M&A Partners industrial sector team member.
Quarterly growth and levels of GDP for the UK
CPI 12-month inflation rate for the last 10 years: September 2006 to September 2016
Male and Female Employment Rates in the UK
Non-UK nationals working in the UK labour market
Components of Aggregate Demand in recent years
UK unemployment rates by region, seasonally adjusted, June to August 2016
Average UK house price, January 2005 to August 2016, not seasonally adjusted
Constant price GDP per hour worked for G7 countries, 2000 to 2015
Quarterly growth of GDP and GDP per head for UK
Economic Growth for the UK and the EU(28)
UK Bond Yields during 2016
Sterling Exchange Rate (as an index number)
UK Trade Balances By Sector (% of GDP)
UK Current Account Components (% of GDP)
Contributions to CPI Inflation (%)
DELSA/GOV 3rd Health meeting - Christian KASTROPOECD Governance
This presentation by Christian KASTROP was made at the 3rd Joint DELSA/GOV Health Meeting, Paris 24-25 April 2014. Find out more at www.oecd.org/gov/budgeting/3rdmeetingdelsagovnetworkfiscalsustainabilityofhealthsystems2014.htm
Rintaro tamaki OECD - Asia Business Week DublinAsia Matters
“Asia’s Economic Outlook - European Opportunities” Rintaro Tamaki, Deputy Secretary-General & Chief Economist, OECD speaking on June 6 at the Fourth EU Asia Top Economist Round Table during Asia Business Week Dublin 2014
Alejandro Werner - Latin America and the Caribbean.
FGV’s Brazilian Institute of Economics (IBRE) held, on 19 September 2014, the international seminar “Latin America and new global economic conditions”.
The event addressed the issue of Latin American perspectives given imposed change, among other factors, caused by the slowdown in China and the gradual normalization of US monetary policy.
The meeting was organized in three panels, which included national case studies from Argentina, Brazil, Chile, Colombia and Mexico.
Visit FGV/IBRE's website at: http://www.fgv.br/ibre
Alejandro Werner - Latin America and the Caribbean
O Instituto Brasileiro de Economia (IBRE), da Fundação Getulio Vargas (FGV), realizou, no dia 19 de setembro de 2014, o seminário internacional A América Latina e as Novas Condições Econômicas Mundiais.
O evento abordou a questão das perspectivas latinoamericanas diante das mudanças impostas, entre outros fatores, pela desaceleração da China e pela gradual normalização da política monetária dos EUA.
O encontro foi organizado em três painéis, que incluiram desde estudos de casos nacionais — Argentina, Brasil, Chile, Colômbia e México — a apresentações mais abrangentes da economia da região como um todo ou parte dela.
Confira as fotos do evento e mais informações no site do FGV/IBRE: http://bit.ly/YdyhyL
Presentation of Prof. Lars Feld - The Economic Situation in EMU - Where do we...Bankenverband
GCEE Business Cycle Update, March 2018: “In the euro area, the level of indebtedness of many member states remains very high. This is particularly true of Italy where the national debt stands at over 130 % of GDP. Should financial markets lose confidence in the sustainability of public debt on account of the political uncertainty resulting from the outcome of the election, given the size of the Italian economy a return of the euro crisis cannot be ruled out. Furthermore, risks to financial stability continue to persist in certain member states due to the fragility of many banks, particularly with regard to the extent of non-performing loans.”
Olli Rehn: Lessons of the crisis for euro area reform. Dublin, 3 Feb 2018Suomen Pankki
Olli Rehn
Dr, Member of the Board of Bank of Finland
Lessons of the Crisis for Euro Area Reform
Trinity Economics Forum 2018 in Dublin on 3 February 2018
Economic recovery appears to have come close to a halt in the major industrialised economies, with falling household and business confidence affecting both world trade and employment, according to new analysis from the OECD. Growth remains strong in most emerging economies, albeit at a more moderate pace. More at www.oecd.org/oecdeconomicoutlook
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
OFP Research Booklet August 2014 - English Version - Extract
1. OFP Monthly Charts Report
Economic analysis and Assets performance
07/31/2014 - 08/31/2014
August 2014 - Monthly 8
2. Key elements of the month
Main elements of past month
The global economy growth rate slows under the weakness of the Euro zone, Japan and the BRIC (Brazil, Russia, India, and China).
Very significant decrease in long-term interest rates for developed countries (German 10Y under 1%, France 10Y is at 1.25%).
Rise in international political tensions (Ukraine, Middle East).
Europe
Inflation slightly down in the Euro Zone 0.3% (against 0.4% in July) with a commodity effect. Slight increase in the underlying inflation at 0.9% against 0.8%.
Decrease in the IFO business confidence index in Germany, downside risk linked to geopolitical tensions in Ukraine.
Sharp rise in unemployment in France and deterioration in industry confidence surveys. Slight improvement in services.
North and South America
NAHB index comes back to 55 and suggests a momentumsupported to construction thanks to a general trend of low interest rates (08/18).
GDP 2nd revision in the United States came out at 4.2% annual rate, upward revisionmainly due to investment (08/28).
In Brazil, no change in the main indicators: Industrial PMI in decline (08/27) and the same for household confidence (08/25).
Asia Pasific
Japanese economy in sharp contraction in the 2nd quarter (-6.8% compared to Q1) and very low bounce expected for Q3.
Concerns on Chinese real estate remain, increasing the probabilities of default from real estate developers.
South Korea policy rates decrease to cope with the global economic downturn.
Commodities Markets
Small change in North American grain products, Corn andWheat remain unchanged despite concerns about the Ukrainian harvest.
On August,WTI price recorded a significant drop (about $5 per barrel), which is a good sign for oil at the pump.
At the international level, ocean freight rates (containers) showed a slight increase (Harpex index).
2 OFP Monthly Economic Report - 08/31/2014
4. Prolog - World
Confidence of Purchasing Managers (1/2)
Fig. 1 : Business confidence (Europe)
59,7
57,9
56,2
54,4
52,7
51,0
49,2
47,5
45,7
44,0
42,3
Eurozone - Manufacturing PMI
UK - Manufacturing PMI
08/2011 02/2012 08/2012 02/2013 08/2013 02/2014 08/2014
Fig. 2 : Business confidence (America)
58,6
57,2
55,7
54,3
52,8
51,3
49,9
48,4
47,0
45,5
44,0
US - Manufacturing ISM
Brazil - Manufacturing PMI
08/2011 02/2012 08/2012 02/2013 08/2013 02/2014 08/2014
Source : Oaks Field Partners, Markit, @TTStanton. Source : Oaks Field Partners, Institute for Supply Management, Markit, @TTStanton.
Significant deceleration in confidence indices. Only American purchaseing leaders see a sharp rebound in confidence and in
activity outlooks, with the long-term interest rates decline and the strong equity
market performance.
OFP Monthly Economic Report - 08/31/2014 5
5. Prolog - World
Consumer Price Indices
Fig. 9 : Consumer price indices (Developped countries)
6,54
5,58
4,62
3,66
2,70
1,74
0,78
- 0,18
- 1,14
- 2,10
- 3,06
US- IPC YOY
Euro Zone - Inflation HICP
UK- IPC EU YOY
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Source : Oaks Field Partners, Bureau of Labor Statistics, European Central Bank, UK Office for
National Statistics, @TTStanton.
Fig. 10 : Consumer price indices (Emerging countries)
10,1
8,8
7,4
6,1
4,8
3,5
2,2
0,8
- 0,5
- 1,8
- 3,1
China - IPC YOY
Brazil - IPC YOY
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Source : Oaks Field Partners, IBGE, National Bureau of Statistics, @TTStanton.
OFP Monthly Economic Report - 08/31/2014 9
6. Euro Area analytics - UK and EMU
Table of contents
Business confidence 17
Credit to non-financial companies 19
Current account 20
Effective exchange rate 21
Equity marquet 13
Exchange rate 21
Harmonised inflation YoY 14
Household confidence 17
Household saving rate 19
Industrial production (IP) 16
Long-term money supply 18
Monthly fluctuations in employment 15
Public deficit (% of GDP) 22
Real estate 22
Retail sales in volume 16
Short and long-term interest rates 13
Short-term money supply 18
Trade balances 20
Unemployment rate 15
Wage trends 14
12 OFP Monthly Economic Report - 08/31/2014
7. Euro Area analytics - UK and EMU
Inflation Wages growth rate
Fig. 15 : Harmonised inflation YoY
5,44
4,76
4,08
3,40
2,72
2,04
1,36
0,68
0,00
- 0,68
- 1,36
Germany - IPC YOY
UK- IPC EU YOY
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Fig. 16 : Wage trends
7,9
6,7
5,5
4,3
3,1
1,9
0,7
- 0,5
- 1,7
- 2,9
- 4,1
UK - Average Weekly Earnings YOY
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
The decline in commodities prices contribute to the decline in inflation in Europe. Growth without inflation. England surprises for the non-reactivity of wages to
domestic growth.
Source : Oaks Field Partners, German Federal Statistical Office, UK Office for National Statistics,
@TTStanton.
Source : Oaks Field Partners, UK Office for National Statistics, @TTStanton.
14 OFP Monthly Economic Report - 08/31/2014
8. Euro Area analytics - UK and EMU
Monthly change in payrolls Unemployment Rate
Fig. 17 : Monthly fluctuations in employment
168
139
109
80
50
21
- 9
- 38
- 68
- 97
- 126
Germany - Job creation and destruction MoM
France - Job Seekers Total Change MoM
UK - Jobs Creation/Destruction MoM
2006 2007 2008 2009 2010 2011 2012 2013 2014
Source : Oaks Field Partners, Deutsche Bundesbank, French Labor Office, UK Office for National
Statistics, @TTStanton.
France remains in a significant worsening trend (+26 100 job seekers in July)1.
Fig. 18 : Unemployment rate
29,0
26,3
23,6
20,9
18,2
15,5
12,8
10,1
7,4
4,7
2,0
Germany - Unemployment Rate
France - Unemployment Rate
UK - Unemployment Rate
Spain - Unemployment Rate
Italy - Unemployment Rate
2004 2006 2008 2010 2012 2014
Source : Oaks Field Partners, Deutsche Bundesbank, Eurostat, INSEE National Statistics Office,
Istat (Institut national des statistiques italien) , ONS (Office for National Statistics), @TTStanton.
(1) http://travail-emploi.gouv.fr/etudes-recherches-statistiques-de,76/etudes-et-recherches,77/publications-dares,98/dares-analyses-dares-indicateurs,102/2014-065-demandeurs-d-emploi,17959.html
OFP Monthly Economic Report - 08/31/2014 15
9. Euro Area analytics - UK and EMU
Trade Balance Current Account
Fig. 27 : Trade balances
22 379
18 800
15 221
11 641
8 062
4 483
903
-2 676
-6 255
-9 835
-13 414
Germany - Trade Balance
France - Trade Balance
UK - Trade Balance
Spain - Trade Balance
Italy - Trade Balance
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Source : Oaks Field Partners, Bank of Spain, Deutsche Bundesbank, ISTAT, Ministry of the
Economy (France), UK Office for National Statistics, @TTStanton.
Fig. 28 : Current account
9,9
7,7
5,4
3,1
0,8
- 1,5
- 3,8
- 6,0
- 8,3
- 10,6
- 12,9
Germany - Current Account Balance
France - Current Account Balance
UK - Current Account Balance
Spain - Current Account Balance
Italy- Current Account Balance
2004 2006 2008 2010 2012 2014
Source : Oaks Field Partners, German Federal Statistical Office, INE, INSEE National Statistics
Office, Istat (Institut national des statistiques italien) , ONS (Office for National Statistics),
@TTStanton.
20 OFP Monthly Economic Report - 08/31/2014
10. Americas analytics - North and South America
Retail Sales Industrial Production
Fig. 39 : Retail sales
19,2
15,8
12,4
9,0
5,6
2,2
- 1,2
- 4,6
- 8,0
- 11,4
- 14,8
US - Retail Sales YOY
Canada - Retail Sales YOY
Mexico -Retail Sales YOY
Brazil - Retail Sales YOY
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Fig. 40 : Industrial production
23,5
19,0
14,5
10,0
5,5
1,0
- 3,5
- 8,0
- 12,5
- 17,0
- 21,5
US - IP Canada - IP
Mexico - IP Brazil - IP
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Brazil confirms its slowdown. Brazilian recession (Negative GDP on Q1 and Q2) will weigh heavily on general
elections results on 5th October, 2014.
Source : Oaks Field Partners, ANTAD, IBGE, STCA - Statistics Canada, U.S. Census Bureau,
@TTStanton.
Source : Oaks Field Partners, Federal Reserve, IBGE, INEGI, STCA - Statistics Canada, @TTStanton.
28 OFP Monthly Economic Report - 08/31/2014
11. Comments on Financial Assets
Bond Markets
Fig. 73 : ECB interest rates and German interest rates
5,32
4,72
4,12
3,52
2,92
2,32
1,72
1,12
0,52
- 0,08
- 0,68
ECB - Refinancing rate
Germany - Rate 2 Year
Germany - Rate 10 Year
Fig. 74 : Main European interest rates
8,09
7,33
6,57
5,81
5,05
4,29
3,53
2,77
2,01
1,25
0,49
France - Rate 10 Year
Italy - Rate 10 Year
Spain - Rate 10 Year
Source : Oaks Field Partners, Bundesbank, European Central Bank, @TTStanton. Source : Oaks Field Partners, BGN, Banca d'Italia, Banque de France, @TTStanton.
OFP Monthly Economic Report - 08/31/2014 49
12. Comments on Financial Assets
Energy - Crude Oil (Barrel) Gasoline per Gallon
Fig. 89 : Oil (WTI: Texas Brent: North Sea)
160
145
131
116
102
87
73
58
43
29
14
Crude Oil WTI Index
Brent Index
Fig. 90 : Oil and gas (USA)
159
145
131
118
104
90
76
62
48
34
20
Crude Oil WTI Index (L. Scale)
Gasoline - National average (R. Scale)
Source : Oaks Field Partners, ICE, NYM, @TTStanton. Source : Oaks Field Partners, American Automobile Association, NYM, @TTStanton.
Decline in global growth and high inventories take part in the decline in oil prices.
4,51
4,19
3,87
3,55
3,23
2,91
2,59
2,27
1,95
1,63
1,31
OFP Monthly Economic Report - 08/31/2014 59
13. Performances of Main Asset Classes
Table of contents - Equity Markets
TS 1 month 3 months 6 months 1 year 2014 2 years Value
World
MSCI AC WORLD VALUE - 0,38% + 1,97% + 5,73% + 17,82% + 6,00% + 33,45% 204,79
Developped Markets
MSCI Daily Net TR World Euro + 2,22% + 6,05% + 10,73% + 21,22% + 12,17% + 35,07% 179,78
SP 500 Total Return + 1,52% + 4,68% + 8,84% + 25,25% + 10,32% + 48,28% 3643,3
Canada SP/TSX 60 Total Return Index + 1,05% + 8,14% + 12,05% + 27,19% + 16,94% + 38,91% 2188,8
Germany DAX Index - 1,80% - 4,76% - 2,29% + 16,87% - 1,24% + 35,08% 9470,2
France CAC 40 Total Return + 1,17% - 2,54% + 2,03% + 15,10% + 5,17% + 37,67% 10042
Italy FTSE MIB Net Total Return - 2,91% - 5,11% + 1,68% + 25,33% + 9,66% + 43,70% 30233
Spain IBEX 35 Net Return - 1,44% + 0,30% + 8,13% + 34,14% + 11,09% + 58,35% 22146
United Kingdom FTSE 100 Tot. Return + 1,13% + 0,67% + 2,44% + 10,13% + 3,85% + 27,65% 5110,8
Nikkei Total Return Index - 0,15% + 5,62% + 4,89% + 17,11% - 3,72% + 76,31% 22539
Australia SP/ASX 200 Net Tot Ret + 1,50% + 3,38% + 6,20% + 14,10% + 8,63% + 40,20% 46536
New Zealand Portfolio Index + 0,97% + 0,88% + 5,67% + 15,33% + 10,04% + 46,12% 3168,3
Emerging Markets
MSCI Emerging Markets + 3,07% + 10,85% + 20,07% + 20,11% + 16,31% + 14,06% 323,68
Bovespa + 6,00% + 19,61% + 30,14% + 22,55% + 19,55% + 6,83% 61288
Mexico IPC 35 Total Return + 2,80% + 10,31% + 17,65% + 15,56% + 6,72% + 14,33% 45628
Poland WIG 20 Total Return + 0,69% + 1,20% - 1,89% + 5,55% + 2,77% + 16,76% 3768,7
MICEX Index + 0,89% - 2,19% - 3,05% + 2,64% - 6,30% - 2,53% 1400,7
CSI 300 Total Return Index + 3,69% + 10,94% + 10,20% + 3,90% + 4,25% + 11,28% 2690,7
India National Stock Exchange + 2,28% + 10,80% + 27,87% + 47,21% + 27,25% + 54,13% 10457
Jakarta Composite Index + 0,94% + 4,96% + 11,18% + 22,45% + 21,93% + 25,50% 5136,9
Stock Exchange of Thailand SET + 1,73% + 10,48% + 18,97% + 22,22% + 21,51% + 33,38% 8646,1
62 OFP Monthly Economic Report - 08/31/2014
14. Next Month
Europe
Monthly ECB meeting, details on the ABS purchase plan, but no implementation in September (09/04).
France, announcements of the new government, what reforms will be waited for the beginning of September?
Geopolitical tensions development in Ukraine.
North and South America
Retail sales in August in the United States will be released on 09/12 in a falling oil price context.
Housing starts (new homes) in the USA on 09/18 will allow seeing the first effects of lower interest rates after the very good Architecture Billing Index.
In Brazil, the central bank meeting (COPOMon 09/03) will have to be followed in a cycle of easing credit conditions (lower RRR 07/28).
Asia Pacific
BoJ (Japan) meeting on September 4th an precisions from Shinzo Abe about the possibility to extend the Japanese bond purchase program.
Monetary dynamics in China (10-15 September), with government help to avoid a sudden growth deceleration.
Monetary policymeeting of the New Zealand central bank (maintenance or recovery rate hike cycle) (11th September).
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