CLEARING AND SETTLEMENT REGULATORY DEVELOPMENTS June 17, 2009 Yesterday, President Obama announced a plan to overhaul US financial regulation in response to a banking and capital markets crisis. As part of the proposal, oversight of over-the-counter (OTC) derivatives would be imposed, and there would be harmonisation of futures and securities regulation. New payment and settlement system safeguards would be created. The financial crisis [...]
BOND YIELDS ARE A THREAT TO RECOVERY June 17, 2009 GEORGE TCHETERTAKOVHEAD OF MARKET RESEARCH, ALPARI UK THE bond markets are often underestimated and overlooked by investors because they are usually very stable, in fact almost too stable for some traders to take notice. However, over the past 18 months they have not only been volatile, but also pivotal in influencing banks, governments, central banks [...]
Investors are turning to ETFs as uncertain times continue June 17, 2009 WHEN American private equity firm Blackrock recently acquired Barclays Global Investors in a deal worth $13.5bn it was seen as a smart move by some industry analysts, largely because of BGI’s involvement in the exchange-traded-funds (ETFs) industry through its £375bn iShares business. ETFs have been big in the US for many years, and the financial [...]
GOLD A GOOD BET IN ALL CONDITIONS June 17, 2009 NICHOLAS BROOKSHEAD OF RESEARCH AND INVESTMENT STRATEGY, ETF SECURITIES SINCE the start of the year, the economic outlook has changed significantly and global depression has been averted. However, we are still in a period of deflation, as RPI figures out earlier this week showed. In May, inflation fell yet again in the UK, from -1.1 [...]
We need proper regulation to build a stronger economy June 17, 2009 JUST as the financial crisis has torn through the world’s financial centres over the past year, so the debate about how to prevent it happening again is now firing up political centres across the world. I strongly welcome this debate, because without proper financial regulation, there will be no lasting financial confidence, and therefore no [...]
Grills allowed: perfecting the art of the BBQ June 17, 2009 THERE are times when it seems a barbecue is less a way of cooking than a ritual in which we give thanks for a sunny afternoon. Men solemnly pull on the uniform of the barbecue high priest – the comedy apron – to indulge a primeval instinct requiring us to do heroic battle with smoke [...]
IMA slams EC proposals on funds June 17, 2009 The European Commission’s (EC) approach to the regulation of alternative investment fund managers is fundamentally flawed and should be met with opposition from, the Investment Management Association (IMA) said yesterday. Jarkko Syyrilä, director of international relations said the draft Alternative Investment Fund Managers directive posed “severe risks for the business model of asset management”. The [...]
Turner and King to face MPs June 17, 2009 The Treasury committee is to hold a series of new evidence sessions to take evidence on the financial crisis. Financial Services Authority (FSA) chairman Lord Adair Turner will give evidence on regulation and supervision on 23 June. The following day will see the governor of the Bank of England Mervyn King and colleagues speak on [...]
TOP CHEFS’ BARBECUE RECIPES June 17, 2009 The perfect burger, by Sam and Eddie Hart, owners of Quo Vadis and FinoOnly use good quality beef with a high fat content, as this ensures the burgers will remain juicy when barbecued. Don’t add breadcrumbs – really good beef with some seasoning is all you need, with one small egg added to the mix [...]
Tesco sells mortgage bond June 17, 2009 There was good news for the global securitisation market yesterday when the supermarket Tesco sold £431m of commercial mortgage-backed securities (CMBS) supported by rental income from 12 of its UK stores and two distribution warehouses. The size of the deal, which was three times subscribed, was slightly above initial plans to sell £416m of bonds. [...]
