● German exports fall 5.8%, deepest since Jan. 2009 | MarketWatch
German exports in August suffered their biggest monthly fall since January 2009, adding to a recent spate of dismal economic indicators from Europe’s largest economy, data from the country’s Federal Statistics Office showed.
● Dollar hits fresh 2-week low in wake of dovish Fed minutes | Reuters
The dollar hit a two-week low versus a basket of currencies on Thursday, after minutes from the U.S. Federal Reserve’s last meeting prompted markets to push out expectations for the likely timing of an interest rate rise.
● Stagnation for 5 years is likely for eurozone, says Nobel laureate | Telegraph
Michael Spence says bold decisions are needed to lift the 18-nation bloc out of its moribund state
● Leading indicators: weakening Eurozone growth; stability elsewhere | OECD
Composite leading indicators, designed to anticipate turning points in economic activity relative to trend, point to a mixed outlook across major economies, characterised by weakening growth in the Euro area and stable growth in most other major economies.
● Time to Look at High Yield Again | Pimco
Given PIMCO’s view for a lower-growth global economy and subdued interest rates over the foreseeable future – an outlook we call The New Neutral – the case for high yield bonds is a compelling one, both as a tactical and strategic allocation.