Global Economic Prospects 2014

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

Development Prospects

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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%.

Prospects Daily: Bulgarian banking woes ease, U.S. pending home sales jump, Mexico’s trade surplus narrows

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Financial Markets

Bulgaria’s banking crisis alleviated on Monday after the European Union approved the country’s request to provide 3.3 billion levs ($2.3 billion) in state aid for lenders as a precautionary measure. The government appealed for calm and arrested people suspected of trying to disrupt the country’s banking system. Led by banking shares, the country’s benchmark stock index (Sofix) climbed 4.2% today, posting the biggest gain in the world and recovering from a six-month low level reached last week.

Prospects Daily: Bulgaria issues its first sovereign bond in two years, U.K. GDP increases in Q1,Turkey’s consumer confidence falls again in June

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Financial Markets

Investors are returning to developing-country exchange traded funds (ETFs) as emerging market assets are among the main beneficiaries of a renewed rush for riskier assets. Asset managers have put nearly $11 billion into developing-nation ETFs listed in the U.S. in Q2 after pulling $31 billion from them in the first quarter amid the end of easing U.S. monetary policy and global risk aversion.