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Great Graphic: International Comparison Public Spending--How Much and on What Great Graphic: International Comparison Public Spending--How Much and on What Reviewed by Marc Chandler on July 17, 2013 Rating: 5
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Nothing New from Bernanke, Wait for Q&A

July 17, 2013
The prepared remarks from Bernanke's testimony do not appear to break any new ground. They reflect what has said recently and several times he drives home this point. The prepared statement is peppered with phrases such as "as I have said".
Recently, it has been in response to questions that Bernanke's comments have had the mos…
Nothing New from Bernanke, Wait for Q&A Nothing New from Bernanke, Wait for Q&A Reviewed by Marc Chandler on July 17, 2013 Rating: 5
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Focus on Big Ben

July 17, 2013
The US dollar is somewhat firmer against most of the major and emerging market currencies as Federal Reserve Chairman Bernanke's testimony is awaited.   The greenback remains largely within the ranges seen in recent days.  
Sterling may be the exception.  In response to the BOE minutes that showed the MPC vote unanimous and a better than expe…
Focus on Big Ben Focus on Big Ben Reviewed by Marc Chandler on July 17, 2013 Rating: 5
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Great Graphic: FX Views

July 17, 2013
This Great Graphic was posted on the Financial Times and it comes from Bank of America.   It is based on the banks' survey of some 238 investors with $643 bln under management. The survey was conducted between July 5 and July 11.
The blue line shows the percentage of the survey who expect the dollar to appreciate the most.  At 83% it is the h…
Great Graphic: FX Views Great Graphic: FX Views Reviewed by Marc Chandler on July 17, 2013 Rating: 5
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Great Graphic: The McDonald's Empire

July 16, 2013
This Great Graphicwas posted on the FT Beyond Brics blog and comes from Wikipedia.   It shows the countries in which McDonald's operates.   The occasion for the map is the company's announcement of plans to open a restaurant in Vietnam next year.  This will be its 199th country. 
By the end of this year, McDonald's projects it will h…
Great Graphic: The McDonald's Empire Great Graphic: The McDonald's Empire Reviewed by Marc Chandler on July 16, 2013 Rating: 5
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Why the US and European Auto Sectors Continue to Diverge

July 16, 2013
The contrast between the US and European auto markets is stark and captures the significant divergence of the two economies.  June auto sales in Europe slumped from a year ago to their lowest level since 1996. In June, US auto sales reached its highest pace since late 2007.   US sales are up 11% since last June and are 75% above the low point in …
Why the US and European Auto Sectors Continue to Diverge Why the US and European Auto Sectors Continue to Diverge Reviewed by Marc Chandler on July 16, 2013 Rating: 5
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Consolidative Tone Persists, though Aussie Finds Legs

July 16, 2013
The US dollar continues to consolidate after sharp swings in the second half of last week and ahead of the testimony Federal Reserve Chairman Bernanke stating tomorrow.

There are, though, a few developments to note. The first is the Australian dollar, which has gained a full cent against the US dollar on the back of short-covering in response to…
Consolidative Tone Persists, though Aussie Finds Legs Consolidative Tone Persists, though Aussie Finds Legs Reviewed by Marc Chandler on July 16, 2013 Rating: 5
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