PMI drops marginally in Nov amid declining export orders and rising input costs
Greece’s manufacturing PMI recorded a drop in November to 52.7 points, from 53.5 points in the previous month, S&P Global data showed on Monday.
Global or regional safe assets: evidence from bond substitution patterns
This paper provides novel empirical evidence on portfolio rebalancing in international bond markets through the prism of investors’ demand for bonds. Using a granular dataset of global government and corporate bond holdings by mutual funds domiciled in the world’s two largest currency areas, I estimate heterogeneous and time varying demand elasticities for bonds. Safe assets such as US Treasuries or German Bunds face especially inelastic demand from investment funds compared to riskier bonds. But spillovers from these safe assets to global bond markets are strikingly different.
Inflation narratives and expectations
I study how demand-supply narrative disagreement between general and specialized newspapers can explain households’ absolute gap in inflation expectations with experts. I measure inflation narratives via a Causality Extraction algorithm that can identify causal relationships between events in a text and, hence, extract the perceived triggers of inflation. Causal relations can explain why narratives affect people’s beliefs and cannot be captured by dictionary methods, topic models, and word embeddings.
Global or regional safe assets: evidence from bond substitution patterns
This paper provides novel empirical evidence on portfolio rebalancing in international bond markets through the prism of investors’ demand for bonds. Using a granular dataset of global government and corporate bond holdings by mutual funds domiciled in the world’s two largest currency areas, I estimate heterogeneous and time varying demand elasticities for bonds. Safe assets such as US Treasuries or German Bunds face especially inelastic demand from investment funds compared to riskier bonds. But spillovers from these safe assets to global bond markets are strikingly different.
Inflation narratives and expectations
I study how demand-supply narrative disagreement between general and specialized newspapers can explain households’ absolute gap in inflation expectations with experts. I measure inflation narratives via a Causality Extraction algorithm that can identify causal relationships between events in a text and, hence, extract the perceived triggers of inflation. Causal relations can explain why narratives affect people’s beliefs and cannot be captured by dictionary methods, topic models, and word embeddings.
Farmers dig in as clashes and political tension escalate
Greece’s farmers have turned simmering frustration into a full‑blown confrontation with the government, blocking highways, clashing with police and demanding immediate payment of subsidies and compensation.
Athens takes stance on peace in Ukraine, faces stalemate in relations with Turkey
EU and NATO leaders, along with members of the so‑called “coalition of the willing,” are currently assessing the situation in Ukraine. Recent peace talks have gained momentum, but European leaders remain focused on securing a just and lasting peace for the country.
Zillow Removes Climate Risk Scores From Home Listings
The scores aimed to predict a property’s risk from fires, floods and storms, but some in the real estate industry as well as homeowners have called them inaccurate.
Passing on a family business isn’t easy. Here’s why – and what factors predict success
Maskot/GettyEarlier this year, the world watched with interest as the Murdoch family’s real-life Succession drama came to a close.
U.S. Black Friday Sales Defy Tariffs and Economic Woes
Data on spending this week shows that consumers are shopping big for the holidays despite inflation and economic worries.
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