“Secret Money Fueling a Flood of Political Ads”

“Secret Money Fueling a Flood of Political Ads”: Nicholas Confessore has this front page article in today’s edition of The New York Times.

According to the article, “The dominance of secretly funded advertising defies one of the underlying assumptions of the Supreme Court’s Citizens United decision, which allowed outside groups to raise and spend more money, so long as they did not coordinate with candidates and parties.”

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Week In FX Asia – EM Woes Go Beyond Tapering And Soft China Data

via MarketPulse:

This weeks Emerging Markets FX landscape bore witness to some extreme price action moves, well beyond the “Fragile Five” that will surely have convinced many investors to contemplate cutting exposure to the region even further.

The EM price movement is not just about the Fed’s tapering plans – investors are also trying to adjust their portfolios to the global market concerns as to whether China can smoothly deleverage its financial sector, and on the timing of the Fed’s first rate hike as QE draws to a close.

Currently, there are no obvious reasons to want to buy the region, in fact the EM currencies with current account deficits and low FX reserves will remain the most vulnerable. Topping many analysts’ lists and source of potential contagion remains the Turkish Lira (TRY). Political constraints on the Turkish Central Bank (CBRT) and dwindling FX reserves would suggest that the country faces a massive battle to stem the loss of market confidence that has certainly widened this week.

After the initial euphoria of the CBRT aggressive rate hike earlier in the week, the TRY continues to trade lower and is ending this Friday’s Euro session on fresh day-lows (2.2832). The market continues to gravitate towards the relative safety of the JPY and the USD after both weak Euro inflation numbers and a disappointing German December sales data print early Friday morning is not helping the 18-member single currency’s plight.

China’s growth prospects are a global concern, with many analysts beginning to slash their Q1 2014 growth forecast from their prior call of 7.4% to a new growth rate of 6%. The governments reform agenda rolled out late last year were greeted with some euphoria by the market. Now that the dust has settled, it’s naïve to suspect that the implementation of reforms could proceed without causing some economic pain to the worlds second largest economy. China continues to face the “three R’s: retreat in growth, structural reforms, and credit risks.”

• Japan Should Start Aiming Higher


• China May Be OK in 2014


• Recovery Signs sees U.S. Dollar’s Best Week in Four Years


• Asian Currencies Lower over China Concerns


• 2014 Shaping Up to be a Worse Year for Emerging Markets


• Japan’s Inflation Accelerates


• Japan Making Progress as CPI up 1.3%


• Malaysia Not Pressured To Raise Rates


• What Happens in EM Stays in EM Says Goldman


• Japan’s Ministry of Finance Says Regions Are On Way to Recovery


• Japan’s PM Abe Hopeful BoJ To Stay the Stimulus Course


• China’s Growth Hurt by Corruption Crackdown


• China Bailing Out Failing Trust Investments


• Market Divided on NZ Central Bank’s Next Move


• Thai Crisis Could Deter New Foreign Investment


• Japan Hits Record Trade Deficit


• Current Yen Level Perfect For Japanese Economy


• Does China Have A Major Shadow Banking Problem?

WEEK AHEAD

* USD ISM Manufacturing

* AUD Reserve Bank of Australia Rate Decision

* NZD Unemployment Rate

* GBP Bank of England Rate Decision

* EUR European Central Bank Rate Decision

* USD Change in Non-farm Payrolls

* CAD Unemployment Rate

* GBP Gross Domestic Product Estimate

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Week In FX Asia – EM Woes Go Beyond Tapering And Soft China Data

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"The Nominee: A Political and Spiritual Journey."

“The Nominee: A Political and Spiritual Journey.”Fifth Circuit Judge Leslie H. Southwick has published this memoir, which the book’s publisher describes as “A firsthand account of the murky, faithstraining processes by which federal judges are confirmed.” Although a review copy of the book has yet to arrive at “How Appealing” headquarters, some of the book’s contents can be accessed online via Google Books.Posted at 03:05 PM by Howard Bashman”Legal blog seeks recognition from high court”: Mark Sherman of The Associated Press has this report. According to the article, “Next year, Goldstein said he intends to sell SCOTUSblog. To that end, he wants a formal press credential for Denniston, whose pass is courtesy of a Boston public radio station for which he works only rarely, and …

via How Appealing:

“The Nominee: A Political and Spiritual Journey.” Fifth Circuit Judge Leslie H. Southwick has published this memoir, which the book’s publisher describes as “A firsthand account of the murky, faithstraining processes by which federal judges are confirmed.”

Although a review copy of the book has yet to arrive at “How Appealing” headquarters, some of the book’s contents can be accessed online via Google Books.

For more info: "The Nominee: A Political and Spiritual Journey."

How Appealing

"The Nominee: A Political and Spiritual Journey."

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