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Camey Stromil

United States

Member since August 02, 2013

  • [Source] (

    Fitch sends rating warning shot to India. Fitch rates both India and Indonesia BBB- with a stable outlook but the recent sharp sell-off in emerging markets, sparked by worries of a scaling back of cheap U.S. financial stimulus, has put the countries in the spotlight.

    The rating agency said that with currency reserves still ample despite the downward trajectory, and both governments trying to mend economic imbalances, the market turbulence was not "a trigger for rating action at this point."

    Andrew Colquhoun, Fitch's senior director for sovereigns in the region, said fears of an imminent balance of payments crises were misplaced given the current positions but stressed authorities needed to ensure market concerns were dealt with.

    Both India and Indonesia's main stock markets .BSESN .JKSE have plunged 12 percent in the last three weeks as investors have started to head back to advanced economies like the United States and Europe where growth and returns are picking up.

    The countries' currencies have received a battering too. The Indian rupee is at an all-time low after dropping 9 percent while the Indonesian rupiah is down 6.5 percent at a four-year trough.

    "The question would be if the pressure on asset prices and currencies intensified to a stage, and were long lasting enough, to impact the economic stability in these economies," Colquhoun said.


  • Source:

    • Euro zone factories see first growth in 2 years

    • British manufacturing surges in July

    • U.S. factory output soars to two-year high

    • Chinese PMIs show stabilizing factory sector

    By Steven C. Johnson and Andy Bruce

    NEW YORK/LONDON, Aug 1 (Reuters) - U.S. manufacturing grew in July at its fastest pace in two years while European factories snapped a two-year run of declining output, suggesting a prolonged euro zone recession may be near its end.

    Output at British factories also surged last month, according to business surveys released on Thursday, while an index of China's massive manufacturing sector suggested the slowdown in the world's No. 2 economy may be stabilizing.

    The data should hearten policymakers around the world, particularly those at the European Central Bank who have come under pressure to support an economy struggling to escape from the longest recession in the 17-country euro zone's history.

    It probably does not, however, point to an imminent tightening of monetary policy. ECB President Mario Draghi on Thursday stressed that interest rates would remain at current lows or lower for an "extended time."

    On Wednesday, the U.S. Federal Reserve said that the world's biggest economy was recovering but still needed support, dashing some expectations that it would start winding down its own stimulus program as soon as September.

    "The general tilt of the Fed and othe...