Top Economic Reports
July 10, 2013

By Global Economic Team|

US Economics: Fed Focus: Old Yeller There have been a lot of Fed speakers since the June meeting, including both Bank presidents and governors. The latter tend to be especially informative because they often channel the staff view. Reassurance was in ample supply. We learned that the Fed cares about the pace of economic growth, worries about disinflation, and monitors financial stability. To parse the multiple messages, it is important to recognize that there are three parts to the backup in rates, spreads, and volatility that we have just lived through.  Vincent Reinhart

Emerging Issues: How Will EM Play Out from Here? The answer depends on how other questions resolve themselves: Within EM: Will China's growth stabilise or succumb to downside risks? Will other large EM economies use structural reforms to address structural problems that are creating a drag on growth? Outside EM: Will US real yields stabilise and move lower, or will they rise again? Will the BoJ's expanding balance sheet have the same global impact as the Fed's did? Manoj V Pradhan

Asia Pacific Economics: Asia Insight: What Could the Risk of a China Slowdown Mean for Asia? Recent developments have reminded us of the increased risks of a slowdown in growth in China. We have long argued that China has suffered from a poor growth mix and loss of capital productivity due to excess investment. Chetan K Ahya

France Economics: Foreign Capital Dependence: Should Investors Be Concerned?  So far, investors seem to be overlooking the sharp deterioration of France's current account balance. Yet, in the absence of a correction of the underlying structural issues dependence on foreign capital will grow. As a result, France could become vulnerable to shifts in international investor sentiment. Olivier Bizimana

Turkey Economics: A Brief Macro Assessment and the CBT's Active Policy: Since our macro assessment during the Gezi Park  protests and the nationwide demonstrations, there have  been some data releases that enable us to make a  better judgment of the state of various fundamentals.  Also, the CBT has been following an active policy  implementation using various unconventional measures  in its toolbox. We provided a brief assessment of the  CBT's policy implementation along with a brief update  on certain macro indicators. We also give a heads up on  the upcoming inflation data release.  Tevfik Aksoy