EM corporate ‘carry trade’ revealed

BIS paper suggests companies are raising cash in US currency for financial, not commercial, reasons

World faces third deflationary wave

EM crisis means further fall in potential global output is unavoidable

Why caution rules for EM and commodities

Four themes are at play: US rate rise, China, European recovery and oil

Central bank arsenal is losing its bite

Structural forces limiting growth and inflation are not being addressed

China devaluation stirs deflation fears

Concern reflected in falling long-term bond yields and inflation expectations

Currency storms create investment opening

In the market washouts, good names get flushed out with the bad

Pain for most indebted set to worsen

Profligate US Treasury unlikely to suffer but many companies will

China woes increase risk of Fed mistake

Deflationary winds from China and commodities are intensifying

Clock is ticking on US equity correction

Investors appear sanguine given slowing China and likely rate rise

We borrow from the future at our peril

Central banks seem concerned about liquidity, but it is not the issue

Overvalued equities can keep rising

Central banks’ informal policy style puts floor under asset prices

Global reflation/recession battle looms

China’s shift from global customer to global competitor is key factor

Lessons for China from past currency pegs

Similarities exist but also advantage of foreign reserve buffer

What next? A China housing crash?

Prices have fallen but high deposit required means low risk of crisis

Bearish bets multiply as China slows

Effects on trading partners could be severe with Fed rate rise in offing

US consumers are less healthy than hoped

Rise in spending unlikely as wage inflation fails to take hold

Dollar rise: further to go or finished?

Stronger dollar presents problems for many areas in financial markets

GDP bonds answer to Greek debt problem

Move would lower burden without being unfair to other debtor countries

China support for stocks tracks tradition

Japan and Hong Kong have used similar tactics but difference lies in valuation levels

Why gold has lost its shine for investors

Metal has not reacted to events that would usually push up price