Lower US markets led by commodities March 5, 2012 US stocks fell yesterday for the second straight session and the third in the last four trading days, led lower by basic materials shares after China trimmed its growth target for 2012. The S&P 500 index opened lower and data showing the US services sector expanded in February at its fastest pace in a year [...]
At home and abroad, we all need to be reminded of the moral virtues of capitalism March 5, 2012 I LOVE free market capitalism. The reason is simple: I hate famine, disease, misery, and oppression. I’m on a tour around the world to promote the liberating power of free-market capitalism. I’ve edited a book on the subject, The Morality of Capitalism, which is coming out in at least 16 languages. Last week I was [...]
Putting the UK in the black may be risky for Labour March 5, 2012 AN INTERESTING and important debate on fiscal policy is taking place on the left. It’s been described as “In the black Labour” and has been debated on the progressive website Policy Network. It’s about whether Labour should partly abandon its Keynesianism and go “fiscally conservative”. Its hardest advocates are sometimes called old Blairites, but the [...]
Fuel duty makes little sense as a carbon tax March 5, 2012 TOMORROW is National FairFuel Day, when people will lobby MPs to reduce duty on fuel. It’s a tricky issue for economists. Fuel duty demonstrates the standard economic response to a situation where social costs exceed private costs. If the price of a gallon of petrol fails to reflect the total cost of consuming such a [...]
RAPID RESPONSES March 5, 2012 National interest [Re: Taxing homes more isn’t the answer, yesterday] If we have to sell the land from under our feet, let’s at least extract the maximum possible price from those willing to buy it. We haven’t exhausted the ability or desire of foreign nationals to pay for UK property. Not to extract the maximum price [...]
Papering over the cracks – for now March 5, 2012 AFEW months ago, many market watchers were measuring the time until a full-blown disorderly Greek default with an egg timer rather than with a calendar. However, the risk of a Greek implosion – and the risk that such an event would drag the European financial system down with it – has lessened over the course [...]
CANADIAN DOLLAR SHOWS SOME PROMISE, AS AUSSIE DOLLAR HIT BY SLOWDOWN March 5, 2012 THE RESERVE Bank of Australia is expected to keep rates on hold at today’s meeting, but the news may prove cold comfort for the Aussie dollar-dollar pair as currency traders become increasingly concerned about the rate of economic growth in the Asia-Pacific region. As this week opened for trade, the Aussie was the weakest link [...]
THE TIPSTER March 5, 2012 INSURER Admiral endured choppy waters in 2011, seeing its share price drop to a nadir of 800p due to worries about bans on referral fees and a profit warning in the latter half of the year. 2012 has seen better sailing, but the company will need to show signs that the increase in claims has [...]
Trading screen of the future March 5, 2012 THE IPC “trader cockpit” is an intriguing piece of design. It integrates video streaming, voice and video calling and the ability to set up automatic filters depending on the big market news that the system picks up at the time. It is clean-looking compared to some more Heath Robinson setups and looking at it, you [...]
IPC’s tech trends to look for in 2012 March 5, 2012 Exponential increases in amount of data (“Big Data”) to analyse in support of trade decisions. Advanced financial instruments and increased government regulations driving more complex trading workflows. Algorithmic trading and electronic trading leading to more frequent trades and less natural liquidity. Traders being pulled into more parts of the trading workflow – research, analytics, customer [...]
