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The Economist.

From The Economist in London, this is Money Talks, a weekly conversation around themes in the worlds of business,

finance and economics. I'm Stan Pignell, the banking editor, and in today's show we'll have a look

at the fallout from last week's market turmoil, which seems to largely consist of, well,

more turmoil. We've gone from markets tumbling to markets recovering, and now a wild

seesaw in everything from oil to stocks and bonds. With me to discuss this volatile

new environment, our Philip Kogan, our Buttonwood columnist, and Henry Tricks, who looks at energy

and commodities. Philip, it looked at the end of last week

like markets had calmed down somewhat. Now we're seeing more signs of turmoil.

What's going on?

Well a couple of things have happened in recent days. The first is that the Fed seems to be still

plowing ahead with the idea of pushing up rates this year and possibly even in September.

So at the end of last week the markets were kind of hoping that their own nervousness might have pushed the fed away from increasing rates and that might not be the case.

Secondly, there was another purchasing managers index out of China which was below 50.

...