The International Monetary Fund is discussing a bailout of Azerbaijan, hard hit by tumbling oil prices. Venezuela is out to go bust — again — for the same reason. Ecuador looks about to go the same way. More important countries may follow them — most significantly Russia and Saudi Arabia. Neither of them looks solvent … More New sovereign debt-crisis . .
Sticky Supply The industry is splitting into two classes of citizens: those under distress and those that will impress by riding out the downturn and coming out on the other side in a stronger position heading into the next cycle. Gluts of everything from iron ore to copper are the main challenge for the industry. … More Distress, or Impress . . ?!
The Fed chair said the policy-making Federal Open Market Committee continues to see the next move in interest rates as up, rather than down. “I do not expect the FOMC is going to be soon in a situation where it’s necessary to cut rates,” she said.She reiterated the Fed’s intention to raise rates gradually, … More Delaying rate rises, but not abandoned ..