Thai currency flourishing despite political turmoil May 25, 2010 WHEN a country falls into political turmoil, it normally spells bad news for both its markets and its currency as worried investors pull out until the situation has calmed down. Not so Thailand. Admittedly, the South-East Asian country has suffered sharp falls in its stock market – the market itself was closed for two days [...]
BROKEN EURO TROUBLE FOR CHINA AND US May 25, 2010 BORIS SCHLOSSBERG DIRECTOR OF CURRENCY RESEARCH, GFT WITH the yuan up nearly 15 per cent against the euro this year, there was some speculation in the market last week that the People’s Bank of China (PBOC) was a major buyer of the currency as Chinese monetary officials tried to slow the chaotic sell-off. A drop [...]
THE TIPSTER May 25, 2010 THE yen has been appreciating steadily against the greenback since the start of May. There have been some suggestions that the yen is seen as a safe haven but the fundamentals coming out of Japan still all too often make for difficult reading. For example, public debt is extremely high at 180 per cent of [...]
FOREX FLASH May 25, 2010 US-CHINA TALKS CENTRE ON YUAN PEG At the close of talks between the US and China this week, US Treasury Secretary Tim Geithner voiced a growing hope that China might end its most recent yuan peg to the dollar, telling Bloomberg Television that he was “as confident as I’ve ever been” that Beijing would soon [...]
Bleak picture in UK markets as shares tumble on Eurozone and Korea fears May 25, 2010 BRITAIN’S leading shares tumbled yesterday, laid low by big falls from banks and commodity issues as ongoing euro zone debt contagion fears and rising tensions in Korea kept investors wary. By the close, the FTSE 100 index was down 128.93 points, or 2.5 per cent, at 4,940.68, having touched an eight-and-a-half month low of 4,898.49 [...]
US stocks stage late rally to counteract euro fears May 25, 2010 US stocks staged a furious late-day rally yesterday to push the S&P 500 into positive territory as the focus shifted from European debt woes to buying after shares hit six-month lows. Major US indexes had fallen more than three per cent early in the session. The morning’s action reflected the market’s nervousness as the S&P [...]
New FSA vetting regime changing life in the City May 25, 2010 LAST week, the FSA secured an undertaking from former senior RBS executive Johnny Cameron that he would not work full-time in the financial services industry again. This weekend it emerged that ex-Morgan Stanley executive John Hyman would not be going through with his planned move to Nomura because the regulator had asked that his FSA [...]
EU’s regulation land-grab harms funds sector May 25, 2010 THE Alternative Investment Fund Managers Directive took a significant step towards becoming law last week after being approved by the European Council. While a lot of commentary has focused on the high profile hedge fund sector, the directive will regulate all European managers of private funds irrespective of the underlying asset class. In addition to [...]
It’s party time May 25, 2010 SOUNDWAVE When: 23 to 25 July Where: Petrcane, Croatia What: Soundwave is an idyllic holiday and festival in one. Set in a small fishing village on a Croatian peninsular where the Dalmation Coast meets the Adriatic Sea, the event offers an inland amphitheatre for bands, a beachside terrace that transforms into a nightclub after the [...]
OUT OF OFFICE May 25, 2010 RIEDEL WINE TASTING Don’t miss Riedel’s legendary wine and glass comparative tasting on 11 June, conducted by Georg Riedel, 10th generation master glassmaker and head of the wine glass company. In a unique wine and glass tasting, Riedel will demonstrate the relationship between the shape of a glass and our perception and enjoyment of wines. [...]
