Global Economic Prospects 2014

Five years after the financial crisis, the world economy is showing signs of bouncing back. Read more ...

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Prospects Daily: U.K. leading economic index improves, Mexico’s central bank keeps key interest rate unchanged in July

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High Income Economies
 
Canada lost 9400 jobs in June and the jobless rate rose by 0.1 percentage points to 7.1% percent, as more people were searching for work.  Employment increased by 72,000 annually or 0.4% (y/y), the lowest since February 2010.  Employment fell in business, building and other support services as well as agriculture. At the same time, there were more people working in construction and other services.
 

Prospects Daily: Safe-haven government bonds rally on Portugal bank worries, U.S. weekly jobless claims unexpectedly fall, Malaysia’s central bank raises policy rate for first time in 3 years

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Financial Markets

U.S. Treasuries and German bunds advanced on Thursday, pushing their yields lower, as renewed concerns over European financial markets amid Portuguese banking woes boosted demand for safe-haven government securities. The benchmark 10-year yield declined as much as 6 basis points (bps) to a one-month low of 2.49%, while German 10-year yield slid 6 bps to a 14-month low of 1.17%. In contrast, Italian, Portuguese, and Spanish government bond extended their losses.

Prospects Daily: U.S. Treasuries gain for the first time in four trading sessions, U.S. unemployment rate falls to 6.1%, HSBC Emerging Markets Index rises further in June

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Financial Markets

U.S. Treasury prices gained on Monday as investors took advantage of bargain-priced bonds after three sessions of selling. Further, the fact that U.S. Treasuries are relatively cheaper than other safe-haven government bonds also boosted oversea demand. The additional yield investors demand to hold U.S. notes over German 10-year bunds is currently at 137 basis points, the widest since 1999.

Prospects Weekly: For the first time in four decades, the US Department of Commerce has authorized exports of minimally processed crude oil

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The US Department of Commerce has authorized exports of minimally processed crude oil, which could help reduce unprecedented levels of crude oil stocks in the U.S. and may narrow the 7 percent discount that U.S. oil trades to international (Brent) prices. In South Asia, weak economic growth has taken a toll on corporate and bank balance sheets. Tighter monetary and regulatory policies in the larger economies in East Asia have contributed to the slowdown in credit growth.
 

World Bank published latest commodity prices: July 2014

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In June of 2014, energy prices increased by 1.9% and the prices of non-energy commodities decreased by 1.6%. Food prices were down by 2.7%. Beverages went down by 2%. Raw materials remained unchanged while fertilizers were down by 0.1%. Metals decreased by 0.6%, while precious metals decreased by 0.1%

To access recent and long-term historical prices and other commodity-related information, please click here

Prospects Daily: U.S. Treasuries fall on strong jobs data, U.S. private sector monthly job growth at 20-month high, Brazil’s industrial production falls again in May

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Financial Markets

U.S.Treasuries prices dropped for a second day on Wednesday after a private report showed stronger-than-expected private-sector jobs figures in June. Robust U.S. private-sector employment report increased expectations for tomorrow’s nonfarm payrolls report from the U.S. government. The benchmark 10-year yield climbed 5 basis points (bps) to 2.61%, the highest level since June 24, while the 30-year bond yield traded flat at 3.44%.

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