World-Class Worries

(1) The FRB-NY President’s speech. (2) No rate hike at March FOMC meeting. (3) The Fed’s none-anddone trap. (4) Dudley sees a world of trouble, but isn’t troubled much. (5) Fed officials less worried about emerging markets than IMF chief. (6) G20 ministers agree about global risks, but not what to do about them. (7) Commodity prices may have bottomed. (8) Volume of world trade growing, but barely. (9) Global factory recession? (10) Chinese leaders planning big cut in headcount at SOEs. (11) The trends are down for revenues and earnings overseas. (12) S&P 500 Financials are challenged, but cheap.