Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.
- Asian shares soar to one-month high on earnings, Fed optimism (Hideyuki Sano, Reuters) many Far East markets are up between 1% and 2% Wednesday. MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.1 percent, led by a 1.8 percent rise in South Korean shares. Japan's Nikkei share average also posted a sizable 1.5 percent increase. European markets followed Asia by opening higher this morning.
- Money Markets Split With Economists on Fed Interest-Rate Outlook (Craig Torres and Catarina Saraiva, Bloomberg) While some (but not all) Fed officials are publicly opining that the Fed will start raising interest rates before the end of the second quarter next year, the futures market has been estimating late third or fourth quarter. See next article. The Fed meeting on Tuesday and Wednesday this week will be closely watched for indications of when rates will rise.
- The Fed on hold for a year according to the futures market (Walter Kurtz, Sober Look) The current pricing for the Fed Funds futures contract does not reach 25 bp until October 2015. The minimum increase possible when the Fed starts tightening is to 25 bp (basis points), 0.25%.
- Articles about conflicts and disease around the world
Gaza: why Operation Protective Edge was not genocide (The Conversation)
Ukraine attempts to break gas supplies deadlock (Financial Times)
Can Ukraine Succeed This Time? (Bloomberg)
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