| Gold Diverging From Fine Wine as Bullion Investors Lose Faith Posted: 29 May 2013 12:43 AM PDT Gold and wine prices that tracked each other in the past decade amid demand for alternative assets are now diverging after bullion slumped into a bear market as some investors lost faith in the metal as a store of value. The Liv-ex Fine Wine 100 Index (LIVX100) tripled in the past 10 years and gold advanced fourfold. The wine gauge rose 5.9 percent this year as bullion slid 17 percent.  |
| Myanmar Rejects Criticism of Two-Child Rule for Minority Posted: 29 May 2013 12:43 AM PDT Myanmar said the restoration of a policy preventing some Muslim Rohingya from having more than two children is family planning, dismissing criticism that it's evidence of oppression against the religious minority. Authorities decided to reinforce a 1992 law in two towns, Buthidaung and Maungdaw, because the number of Rohingya has grown, said Win Myaing, a spokesman for the Rakhine state  |
| BOJ Seen Failing to Tame Volatility as Sale Slumps Posted: 29 May 2013 12:42 AM PDT Expectations for the widest bond price swings in more than four years and the weakest demand at an auction in nine months added to signs of waning debt market confidence in Bank of Japan Governor Haruhiko Kuroda. Implied volatility of Japan's 10-year note futures, a measure of expected moves used to price options, climbed to 7.23 percent yesterday, the highest since November 2008, according to  |
| China Credit-Bubble Call Pits Fitch’s Chu Against S&P Posted: 29 May 2013 12:41 AM PDT Chinese banks are adding assets at the rate of an entire U.S. banking system in five years. To Charlene Chu of Fitch Ratings, that signals a crisis is brewing. Total lending from banks and other financial institutions in China was 198 percent of gross domestic product last year, compared with 125 percent four years earlier, according to calculations by Chu, the company's Beijing-based head  |
| German Inflation Probably Accelerated in May From 2 1/2-Y Posted: 29 May 2013 12:41 AM PDT German inflation (ECCPEST) probably accelerated in May after falling to the lowest level since August 2010 the previous month. The inflation rate in Europe's largest economy, calculated using a harmonized European Union method, rose to 1.4 percent from 1.1 percent in April, according to the median of 22 estimates in a Bloomberg News survey. Prices probably  |
| EU to Deliver Verdict on Slovenia’s Plan to Avert Bailout Posted: 29 May 2013 12:40 AM PDT The European Commission is set to deliver its verdict on Slovenia's plan to avoid being the euro area's sixth bailout victim with a $1.2 billion bank recapitalization program and a record state-asset sale plan. The European Union's executive arm will say today in Brussels whether Slovenia is taking the right steps to dodge financial assistance or needs to do  |
| China Growth Outlook Cut by IMF as ‘Decisive’ Reforms Urged Posted: 29 May 2013 12:39 AM PDT The International Monetary Fund lowered its forecasts for China's growth and said making "decisive" policy changes would put the economy on a more sustainable path. Expansion will be about 7.75 percent this year and next, David Lipton, first deputy managing director of the IMF, said today at a press briefing in Beijing after concluding an annual review of China. In April, the IMF forecast  |
| European Stocks Slip as Stoxx 600 Trims 12th Monthly Gain Posted: 29 May 2013 12:37 AM PDT European stocks retreated, with the Stoxx Europe 600 Index trimming its 12th consecutive monthly advance, after its biggest rally in more than a month. U.S. index futures fell, while Asian shares were little changed. De La Rue Plc lost 1.3 percent after the banknote printer posted fiscal-year sales that dropped more than analysts had predicted. Kazakhmys Plc  |
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