This news-story in the South China Morning Post suggests that China might be no longer a price-setter for copper. That should actually be good news for China too, if only in the long run.
A good story in Washington post on the Burger King changing its corporate citizenship. How, on earth, does the US expect to revive its manufacturing glory with such tax rates and in a world where national loyalties take a distinct backseat to the bottomline as it feeds directly into valuation of executive stock options and overall compensation?
Once again, the US Treasury market has proven many pundits wrong. But, they would not mind because they have been wrong and not been hurt. Stocks have rallied too. But, what they fail to realise is the day the Treasury stops rallying and yields start rising steadily and sustainably, the days of stock rallies too will end. Of course, stock rallies can end even when Treasury yields start reaching for Japanese levels.
Must sound very familiar to most Indian city-dwellers:
Some vintners said the newer homes—many on multi-acre lots—were constructed with little planning for water availability, and that they, too, have had to drill more wells. “Everybody was pumping to their heart’s content, until they realized the basin isn’t that big,” said Jerry Reaugh, 68, a local grape grower. [Good story on Californian drought and ground wells running dry]