Tainted Alpha

Macro Man: Come the Resolution

Our 36 hour “wait and see” has thrown up some interesting factors over that period. There has been a growing consensus that the background economic picture is picking up, led by the shipping times of Japanese components to global production centres. But against that has been renewed dung chucking in Europe. Yesterday’s European PMIs were soft but interestingly pretty much ignored at the time, only to be wheeled out as ammo post the Portugal downgrade. Just as interesting is that this bombardment of Eurowoes has remained pretty much Eurocentric with little knock on (so far) into the usual risk suspects.

FT Alphaville: China hikes interest rates by 25bps

So here it is — the fifth Chinese rate hike since October last year.

FT Alphaville: European money market funds are hemorrhaging

Here’s an interesting chart from Société Générale compiled using data from EPFR Global.

It shows recent flows in and out of European money-market funds.

FT BeyondBRICs: China: Temasek sale unnerves investors

Temasek on Wednesday spooked Chinese bank shares, with its decision to sell $3.6bn of stock in two of China’s Big four banks.

Foreign Policy: Burnley: The new Mumbai?

Is the end nigh for Indian tech support? A British telecommunications company is moving one of its call centers from Mumbai to Burnley, 21 miles north of Manchester, to cut costs.

Quora: What would make sense for Apple to use its $51+ billion in cash for a strategic acquisition?

Apple actually uses its cash hoard in a very interesting way to maintain a decisive advantage over its rivals…

This entry was posted on Wednesday, July 6th, 2011 at 7:01 am and is filed under Daily Reading. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.