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Shale talks in Argentina could be a game changer

Weekly investor research

09 June 2014

Argentina’s government and provinces embark on potentially game-changing talks over shale gas. In Ukraine, Poroshenko meets Putin to keep a diplomatic solution on track. Mexico cuts 50bps, having earned the ability to do so. Dilma’s approval rating drops further. Thailand’s consumers perk up. Malaysia produces another strong external surplus. China’s reserves look set to exceed USD 4trn by the middle of this year following another strong trade surplus. Also, US mutual fund flows in Emerging Markets (EM) predictably pick up well into a five-month rally. The ECB’s decision to ease further despite a cyclical upswing illustrates perfectly the structural nature of the economic challenges faced by developed economies. Monetary policy is not the right instrument, but there is no choice given inaction on reforms.

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