(via Beirut Bombs Strike at Iran as Assad’s Ally - NYTimes.com)
Next Tuesday Venezuelan president Maduro will begin governing by decree — MercoPress
Brazil, Mexico economies set to recover: OECD - MarketWatch -
SAO PAULO—Economic growth in Brazil has started to recover as investment picks up, and in Mexico the economy is poised to bounce back along with exports, the Organization for Economic Co-operation and Development said in an economic report published Tuesday. — (Marketwatch)
Analysts said the measures might bolster government candidates in next month’s mayoral elections, but warned that the tougher rules are likely to inflict more damage on Venezuela’s economy by discouraging investment and adding to shortages that reached a record level in October. (via Maduro promises more price controls while bargain hunters empty appliance stores — MercoPress)
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I’ve had the municipal elections, to take place on December 8th, on my mind (see right-hand column on RCS Investments home page). Many expect these elections to represent a referendum on Maduro’s rule. It seems he has shown his hand on how he plans to win votes for his party’s candidates. Will the ploy work?
Capping federal pay and cutting workforce on the table as Congress looks to craft budget deal -
Federal employees could once again find themselves on the short end of the budget reduction stick if Congress looks to compensation and benefit cuts as a way to buffer the impacts of sequestration.
Budget negotiators try to reach common ground as deadline looms -
Lawmakers are not anticipating any sort of âgrand bargainâ emerging from the talks, considering the restricted timeframe.
In the agreement to end the partial government shutdown and raise the debt ceiling, Congress also gave a bipartisan budget committee a Dec. 13 deadline to cut a new deal.
While many outside the group are pessimistic, members of the panel are still striking a hopeful tone – despite the fast-approaching deadline.
Lawmakers are not anticipating any sort of “grand bargain” emerging from the talks, considering the restricted timeframe. Both sides, though, agree they’d like to rework the sequester cuts in a more logical way — but Democrats and Republicans have different ideas.
Weekly Bull/Bear Recap: Nov. 11-15, 2013
Below is my latest weekly macro report.View this document on Scribd
(via ECB’s Weidmann calls for earlier introduction of bail-in rules | Reuters)
Lew makes 2nd trip to China | Politics | ChinaDaily -
US Treasury Secretary Jacob Lew — as special representative of President Barack Obama — arrived in China on Friday for a two-day visit on the last leg of a five-nation Asian tour.
While he is expected to hear about China’s commitment to market opening when meeting Chinese leaders, China will require a US commitment on issues such as the debt ceiling, observers say. — (ChinaDaily)
China Donates Measly $100,000 for Supertyphoon Relief Efforts | Washington Free Beacon
She is an extraordinarily good economist,” Greenspan said today at the National Press Club in Washington. “It was very helpful to me because she was a professor and academic who had very significant insights into where various new theories were coming up and the like in academia. —
Greenspan Says Yellen Was His Guide to Economics Research at Fed - Bloomberg
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Given Greenspan’s reputation these days, I don’t think this is a ringing endorsement.
(via What to expect in Yellen hearing: El-Erian—Commentary)
Quite a few people put on their positions ahead of the communique, expecting actionable moves to be made, but that’s not the case,” said Andrew Sullivan, director of sales trading at Kim Eng Securities in Hong Kong. “The market is just disappointed. — Asia Stocks Drop on China Plenum Disappointment, Fed Bets - Bloomberg
(via Top China Banks Triple Debt Write-Offs as Defaults Loom - Bloomberg)
Markets unmoved by Chinese policy promises