Written by Econintersect
Early Bird Headlines 11 June 2016
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.
Global
Cox: Slicing global trade with a GE carving knife (Reuters) This is an essay that argues globalization really works and economies all around the globe have benefited.
Bond Yields Around the World Fall to Records on Growth Outlook (Bloomberg) The rush into government bonds during 2016 shows no sign of reversing as a weakening global economic outlook and political risks fuel demand for perceived havens. German 10-year bonds headed for a third weekly gain, pushing the yield close to zero, while gains by Japanese and Swiss securities with similar due dates drove their already-negative yields to new all-time lows. Demand for Treasuries kept yields near their lows since February, when investors were unnerved by a selloff in emerging markets. And the Investment-grade Bond Index has best start to year since 1997.
U.S.
Clinton leads Trump by 11 points in White House race: Reuters/Ipsos poll (Reuters) Hillary Clinton leads Donald Trump by 11 points in the U.S. presidential race, showing little change after she became the presumptive Democratic presidential nominee this week, according to a Reuters/Ipsos poll released on Friday. The online poll, conducted from Monday to Friday, shows 46% of likely voters support Clinton while 34.8% back Trump. Another 19.2% support neither candidate. Their parties hold conventions in July ahead of a Nov. 8 election.
Donald Trump’s best choice for vice president (CNBC) This writer picks former Ohio Governor John Kasick, who has said he is not sure he can support Donald Trump.
Splashdown: Curry bounces back, leads Warriors to Game 4 win (Associated Press) Two-time MVP Stephan Curry found his long-range touch and scored 38 points, Klay Thompson added 25 and the Warriors rebounded from a big loss by beating the Cleveland Cavaliers 108-97 on Friday night in Game 4. Curry scored just 48 total points in the first three games, but broke out with seven 3-pointers and Thompson, his Splash Brother, drained four as the Warriors took a commanding 3-1 lead in the series.
Elusive S&P record looms as investors weigh data, Fed (Reuters) It has been almost 13 months since the all-time high was reached for the S&P 500 (2.130.82 close on 21 May 2015). With the S&P 500 again coming close to that record this week before falling back, investors will turn next week to a full slate of economic data and a Federal Reserve meeting in hope of fresh reasons whether to drive stocks to new highs.
EU
Who Has The Most To Lose From Brexit? Introducing The Brexit Sensitivity Index (S&P Global Ratings) In a survey of 20 countries most exposed to a potential U.K. exit from the EU compiled by S&P Global Ratings, Ireland, Malta, Luxembourg, and Cyprus are in the front line of economies susceptible to any trade and migratory aftershocks from a decision by the U.K. to leave.
UK
Britain’s Great EU Debate Hasn’t Been So Great (Bloomberg Editorial Board) Opinion polls say Britain’s vote on June 23 on whether to leave the European Union will be close. That’s disturbing: Voting to stay is the safer, wiser choice. The referendum debate should have promoted consensus on the point — but it hasn’t, partly because the quality of discussion has been a letdown.
Libya
Libyan forces claim port in Islamic State stronghold of Sirte (Reuters) Forces aligned with Libya’s unity government said on Friday they had taken control of the port of Sirte, making further gains in Islamic State’s North African stronghold. Brigades largely composed of fighters from Misrata advanced this week to the perimeter of Sirte’s city center, after launching a counter attack against Islamic State last month and driving the militant group back along the coastal road between the two cities. The brigades are part of an operation backed by Libya’s U.N.-backed Government of National Accord (GNA), which arrived in Tripoli in March and has been gradually working to establish its authority.
Jordan
Petra, Jordan: Huge monument found ‘hiding in plain sight’ (Reuters) Petra, the ancient city carved from stone has a new huge structure to be revealed, buried under sand.
China
Why China’s Economy Will Be So Hard to Fix (Bloomberg)
Brazil
Exclusive: Studies find ‘super bacteria’ in Rio’s Olympic venues, top beaches (Reuters) Scientists have found dangerous drug-resistant “super bacteria” off beaches in Rio de Janeiro that will host Olympic swimming events and in a lagoon where rowing and canoe athletes will compete when the Games start on Aug. 5. The findings from two unpublished academic studies seen by Reuters concern Rio’s most popular spots for tourists and greatly increase the areas known to be infected by the microbes normally found only in hospitals.
