Banks and miners pull FTSE lower September 21, 2010 Britain’s leading shares faltered by yesterday’s close as investors lost their nerve ahead of news from the US Federal Reserve, with banks and miners the biggest fallers. The Fed appears set to debate pumping billions of dollars more into the sluggish US economy, but is likely to hold off any action while it takes further [...]
Fed remarks fail to boost US stocks September 21, 2010 US stocks ended flat to lower in an erratic session yesterday after the Federal Reserve inched closer to further steps designed to support the recovery. Stocks initially popped higher but gave back those gains quickly. Investors had hoped that with recent improvements in economic data, the Fed would issue a more upbeat outlook or clarify [...]
The carry trade evolves September 21, 2010 IN A world where quantitative easing remains firmly on the agenda and investors are going after any yield available, the carry trade remains alive and well. Further accommodative monetary policy in Japan has driven the resurgence of the yen carry trade – whereby investors fund higher-yielding asset purchases with low-yielding yen. Furthermore, the latest weakening [...]
aussie and swissie are good hedges September 21, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT AS WE approach the end of the year in the currency markets, perhaps the only thing traders are certain of is that we are facing a period of great uncertainty. Although the global economy appears to have dodged the second Great Depression, markets continue to be concerned about the possibility [...]
Expect to see a widening gulf in the Eurozone September 21, 2010 STERLING plunged against the euro yesterday as worse-than-expected UK deficit figures exacerbated what was already a strong rally from the single currency. Coupled with solid demand at Spanish, Greek and Irish government bond auctions, this was enough to send sterling-euro down to a three-month low, with the euro also gaining a cent against the dollar. [...]
FOREX ANALYST PICKS September 21, 2010 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Short Aussie dollar-US dollar below $0.9300 Expertise: Combining fundamental and technical analysis Average time frame of trades: 1 day-1 week Taking a short sterling-dollar and long euro-dollar position last week offset my risk but the lack of a clear trend is still preventing truly sizeable moves. However, it is [...]
THE TIPSTER September 21, 2010 FOLLOWING yesterday’s successful bond auctions in Greece, Spain and Ireland, fears have – at least for now – subsided and the euro enjoyed an early rally. It met resistance at $1.3150 and if this price is breached the recent downward trend may be reversed. Cantor Index offers daily rolling euro-dollar at $1.31367–$1.31377. Likewise, the break [...]
Fund managers are seeking Brazilian market exposure September 21, 2010 ARE CIVITS the new BRICs? The emerging market acronym – BRICs – standing for Brazil, Russia, India and China has been cast aside for CIVITS, the latest buzzword for China, India, Vietnam, Indonesia, Turkey and South Africa. But rather than get excited by the new entries, some fund managers are chasing after the developing middle [...]
Latin America is a more diversified investment September 21, 2010 LATIN AMERICAN funds provide an alternative to investors who are tempted by Brazil but who are worried about single country exposure. They are available to UK investors in the form of investment trusts, open-ended investment companies (OEICs) and SICAVs. These funds are weighted heavily towards Brazil – the MSCI EM Latin America net benchmark has [...]
FUND MANAGEMENT NEWS September 21, 2010 NEW CHINESE ESG INDEX LAUNCHED Provider of sustainability ratings and indexing solutions ECP International has teamed up with China Securities Index to create the CSI ECPI China Environmental and Social Governance 40 Equity Index. The first of its kind, the index identifies the 40 highest ESG-rated companies amongst the Chinese SSE180 Corporate Governance Index and [...]