I apologize but I am under severe time constraints today and cannot do the daily in time for the 10AM newsletter deadline. As I am out of the office tomorrow, I am not sure when I will be able to write. But I will have something for you.
“Even when local politicians had learnt from past turbulence and pursued good policies, their countries remain at risk of destabilising outflows triggered by changes elsewhere (the IMF was too polite to name the Fed). One reason for this new vulnerability is the rapid growth of emerging market bonds flows – especially from retail investors. The IMF found that bond mutual funds typically used by retail investors are far more sensitive to global sentiment than institutional bond investors such as pension, insurance or sovereign wealth funds. Moreover, bond mutual funds are twice as sensitive as equity mutual funds.”
“Nigel Farage, leader of the populist UK Independence party, has become the latest in a line of populist, rightwing politicians across Europe to pay homage to the power politics and anti-EU stance of Russian president Vladimir Putin.”
“March Was First Month Without U.S. Fatalities in Iraq or Afghanistan In 11 Years”
“Gallup’s Job Creation Index, based on employee reports of hiring and layoff activity at their workplaces, reached a six-year high of +23 in March, nearly tying the +24 recorded in March 2008. The index for March is two points higher than it was in February, and shows a six-point improvement from last March.”
“In an October 2010 email to Apple’s 100 top employees ahead of an annual retreat, Jobs outlined discussion points for the meeting, including “2011: Holy War with Google.” In other talking points, Jobs said “Apple is in danger of hanging on to old paradigm for too long (innovator’s dilemma)” and “Google and Microsoft are further along on the technology” to connect and synchronize contacts, calendars, photos, music, videos and bookmarks across all devices using online services.”