Early Headlines: Global Currency Reserves Shrink, California Contaminated Water, Greece IMF Payment and More
Early Bird Headlines 06 April 2015
Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
- Once Over $12 Trillion, the World’s Reserves Are Now Shrinking (Bloomberg) The decade-long surge in foreign-currency reserves held by the world’s central banks is coming to an end. Two consequences: (1) indicates increased confidence in US dollar as the reserve currency and (2) makes shoring up money supplies in emerging market countries more difficult.
- In Greenspan Conundrum Redux, Odds Are on Bond Traders’ Side (Bloomberg) Based on historical norms, interest rate spreads are right where they should be. And bond traders are betting three years out that rates will be about half what the Fed is projecting. This article says the odds of being right favor the traders.
- More than 1 million Californians don't have reliable access to clean water (Al Jazeera) Many rural Californians have local water contaminated by such things as arsenic.
- Record Gasoline Output to Curb Biggest U.S. Oil Glut in 85 Years (Bloomberg) Gasoline prices should stay low this summer.
- Greece draws up drachma plans, prepares to miss IMF payment (The Telegraph) This was first published Thursday 02 April.
- What happens if Greece defaults on its International Monetary Fund loans? (The Telegraph) This was published Saturday 05 April. What would happen in not entirely clear - it has never happened before in the 70-year IMF history.
- IMF chief Christine Lagarde: Greece will pay us back (The Telegraph) This was published Sunday 06 April.
- Palestinian Authority rejects Israel tax transfer (BBC News) Mr Abbas says he returned hundreds of millions of dollars because Israel deducted a third to cover unpaid Palestinian utility debts.
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