US, UK will eventually lose their much coveted AAA rating. And when the day comes, the long-held doctrine that the US Treasury bond is the benchmark of the risk free rate and thus the anchor of the other asset pricing measurements can go down the drain

Contrary to Dubai, a state with not much oil and thus aspiring to diversify away into financial services and tourism, Abu Dhabi controls approximately 8% of the world’s oil and one of the largest Sovereign Wealth Funds (SWF).

It remains to be seen how the RBA will go about doing that using all tools at their disposal. They deserve to be mentioned as one of the most credible central banks, though, as seen by them being so far effective in guiding long-term interest rates, thus reflecting the market’s trust in them.

Median national home prices fell by 0.8 per cent in June, in raw terms, from a 0.6 per cent increase in May, according to RP Data-Rismark figures. It was the largest monthly fall in home prices since April 2008, shaving the median national dwelling price by $3000 for the month to $465,000.

Buffett said last year that he had four candidates to succeed him as chief investment officer. He didn’t publicly name them. Earlier, he’d said that he would audition managers who are “genetically programmed” to avoid large risks.

“Production will slow because exports are losing steam,” said Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management Co. in Tokyo. “Japan will probably go into an economic lull next year, although it may avoid a double-dip recession.”