Mr. Macri will use the money, $1.3 million, to buy Argentine treasury bonds, a vote of confidence that the country’s economy will rebound.

Egypt's surging budget deficit has hit its limit and the Oil Ministry has decided to cut its $20bn plus fuel subsidies. The result - mainstream fuel prices by up to 78% from midnight on Friday.

With Argentina's payment to the holders of its restructured debt on June 30th in limbo at the Bank of New York Mellon, blocked by Federal Judge Thomas Griesa, and the 30 day grace period to official default ticking away, financial pundits have...

Submitted by Charles Hugh-Smith of OfTwoMinds blog,
The correlation between the Fed's monetary heroin production and the stock market will break down as the market normalizes.

With even the most compromising politicians on both sides of the aisle admitting at least a brief government shutdown is inevitable (and according to Stone McCarthy the shutdown will hardly be brief and will affect the timely release of such major...

The current external environment and consequence of past policies are limiting options for EM nations (most specifically Indonesia and India).

Intra-stock correlation of the top 50 market cap names has plunged in the past month.

Back in May 2011, together with forecasting Japan's most epic case of quantitative easing ever unleashed, we presented the absurd, if inevitable, thought experiment of a country that would soon cross into the twilight zone of total sovereign debt...

UPDATE: Damage Control Spin begins...
 
In his remarks today, POTUS was explicit - as he has been in the past - about the comprehensive strategy we'll use to confront ISIL threat.

Update: just as expected, the confidence-preservation brigade is quick on the scene: HUNGARY LOAN-REFUND LAW VIOLATES RULE OF LAW: BANK ASSOCIATION  HUNGARY LOAN-REFUND LAW DAMAGES INVESTOR CONFIDENCE, BANKS SAY Because clearly marking loans to...

Presented with no comment (except to note how different the "fact" in this chart is from the "fantasy" we hear spewed day after day about 'recovery' in the world's economy)...
 
 
Chart: Bloomberg

Yves here. Some technology enthusiasts predict that as many as 47% of current jobs will be displaced in the next decade.

Submitted by F.F. Wiley via Cyniconomics blog, You may be aware that the Congressional Budget Office (CBO) is due to release its 2013 Long-term Budget Outlook in September.  In “Previewing the Bad News That’s Likely to Complicate the Debt Ceiling...

Via Citi FX Technicals,
Gold looks to have found a base...
Following the multi-year surge in Gold the recent fall took us 14% below the 55 month moving average.

Japan has receded from the headlines of late but that's about to change. In the next two months, it's expected the Prime Minister Shinzo Abe will make a decision on whether to increase Japan's consumption tax from 5% to 8% in April next year.