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Great Graphic: US Rents and Core Inflation

May 02, 2016
This Great Graphic was posted by Hale Stewart on Seeking Alpha. It draws on US government data to show the increase in the median asking rent for vacant units since 1995.   
There are other measures of rent, including rent on primary residences.  However, what is important is the trend. 
It is important because it is the key to US measures of core…
Great Graphic: US Rents and Core Inflation Great Graphic: US Rents and Core Inflation Reviewed by Marc Chandler on May 02, 2016 Rating: 5
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The Importance of China's New VAT

May 02, 2016
Yesterday, China announced one of the most important tax reforms of the past twenty years.  It is replacing a business tax on gross revenue for non-manufacturing companies with a VAT.   Manufacturing companies have been subject to a VAT approach for a few years.  The reform extends it from manufacturing and a few services in a pilot program to ind…
The Importance of China's New VAT The Importance of China's New VAT Reviewed by Marc Chandler on May 02, 2016 Rating: 5
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Emerging Market Preview for the Week Ahead

May 02, 2016
(from my colleague Dr. Win Thin) 

EM ended the week on a firm note, which should carry over into this week.  The biggest near-term risk to EM is the US jobs data on Friday, as the weekly claims data points to another strong gain.  Otherwise, the global liquidity backdrop remains EM-supportive. 

Thailand reported April CPI earlier today.  It rose 0.…
Emerging Market Preview for the Week Ahead Emerging Market Preview for the Week Ahead Reviewed by Marc Chandler on May 02, 2016 Rating: 5
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New Month, Same Heavy Dollar

May 02, 2016
In quiet turnover, with China, Hong Kong, Singapore and London markets closed, the US dollar is trading with a heavier bias against all the major currencies.  Lower commodity prices, including oil and copper, appears to be taking a toll on some emerging market currencies, including the South African rand.  
Japanese markets were closed last Friday …
New Month, Same Heavy Dollar New Month, Same Heavy Dollar Reviewed by Marc Chandler on May 02, 2016 Rating: 5
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Another Strong Jobs Report may Not be Sufficient to Reignite Dollar Rally

May 01, 2016
The die is cast. The Federal Reserve is on an extended pause after the rate hike last December. The market remains convinced that the risk of a June hike are negligible (~ less than 12% chance).   The ECB has yet to implement the TLTRO and corporate bond purchase initiatives that were announced in March.  The impact of its programs have to be moni…
Another Strong Jobs Report may Not be Sufficient to Reignite Dollar Rally Another Strong Jobs Report may Not be Sufficient to Reignite Dollar Rally Reviewed by Marc Chandler on May 01, 2016 Rating: 5
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