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The true costs of very low interest rates
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As F.A. Hayek observed, interest rate stimulus interferes with economic calculations, causing managers to invest in projects that would not otherwise appear profitable
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The S&P 500 is significantly overvalued again
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High profit margins imply poor earnings growth ahead, argues Paul Marson, of Lombard Odier
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Yen has edge over gold in battle for supremacy
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The Japanese currency is not a sterile asset like gold, which is not really an investment at all – the yen generates a return, says Peter Tasker
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Investor reaction to market stress set to change
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G3 Government bonds are making way for the emerging markets as the safe haven in times of market crisis says Robert Parker at Credit Suisse
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Hungary's situation will worsen before it improves
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Potential 'aggressive tightening' could lead to a conflict between the Hungarian government and the central bank, says Lars Christensen at Danske Bank
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Economic Outlook: Bernanke view awaited
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The Federal Reserve chairman's testimony to Congress, in which he is expected to air his concerns over the strength of the US recovery, is likely to dominate the week's economic announcements
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Financials and industrial stocks are on the move
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If you want to begin your search for tradeable ideas, start with stocks that will actually move if you get the call right. The options markets think financials and industrials fit that bill, writes Nick Colas at ConvergEx
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Cash again the currency of risk-averse investment
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Economic concerns and volatility have driven demand for a safe asset
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European equities set for boost after robust earnings
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A robust second-quarter European earnings season should help pave the way for equity markets to move higher, says Nick Nelson, European equity strategist at UBS
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Economy suffers from a shortage of safe assets
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Housing bubbles and deteriorating lending standards are symptoms of a much deeper problem, writes Mike Story at Western Asset
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Analysis of risk appetite is a fad, not a framework
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The formula of market correlation already appears to be breaking down, says David Bloom at HSBC
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Leverage crises nature's way of saying 'slow down'
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Debt crises are nature's way of telling us to slow down, and policymakers should ignore the signs at their own peril, writes Jamil Baz at GLG Partners
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Fund managers go gloomy over growth
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Global growth expectations among institutional investors have crashed in the past month, according to the Bank of America–Merrill Lynch monthly survey of fund managers
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Debt shuffling will be a self-defeating exercise
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European Financial Stability Facility must not repeat the mistakes that led to the financial crisis, writes Satyajit Das
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Economic Outlook: Inflation fears for China
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Inflation figures dominate the week's economic releases, with June price statistics published in several countries, including the US, the eurozone states and the UK
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