Fed’s Fisher warns against QE June 6, 2012 Policymakers at the Federal Reserve “must keep their heads about them” after a wave of weak economic data and resist simply seeking to solve problems with looser monetary policy, a top official said yesterday. Dallas Fed president Richard Fisher warned it should not be an “accomplice to the mischief” of fiscal policymakers in Washington who [...]
Analyst picks for 6 June 2012 June 5, 2012 QUANTITATIVE STRATEGIST DAVID RODRIGUEZ My pick: Sell euro-dollar against 1 June high Expertise: System trading Average time frame of trades: 2 to 10 weeks My euro-dollar short trade in May worked better than any trade in recent memory. The pair set its high at the very beginning of the month and did nothing but decline. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 30, 2012 FINANCIAL TIMES Transparency on banks’ treasury units urged International banks must improve disclosure of often obscure treasury unit investments following the recent $2bn trading loss at JPMorgan’s chief investment office, rating agencies and bank analysts have urged. Malaysia fund nears £375m Battersea deal A Malaysian pension fund is poised to seal a £375m deal to [...]
The Facebook debacle deserves a reaction from London May 28, 2012 THE controversies surrounding the historic $104bn flotation of Facebook in the US should have reminded all of us that although the New York financial markets may currently be the place to go for technology flotations, they are not infallible. What is disappointing is that with so much wrangling about how the float was handled, very [...]
Strong US economy needs no more QE, says Fed’s chief dove May 24, 2012 THE US does not need more quantitative easing (QE), a top Federal Reserve policymaker said yesterday, reversing his previously dovish stance. New York Fed boss Bill Dudley said the economy is steadily improving and using up slack, limiting the need for further support. “I think it’s hard to argue that we absolutely must do something [...]
The gold standard gives priceless insights into how to save the euro May 24, 2012 THERE is almost no economic problem for which there is not at least one precedent. Examining precedents can help guide policy makers and their advisers – if they are willing to look. But policy makers trying to deal with the euro crisis have not taken advantage of this opportunity. Many currency unions have been formed [...]
Essex boy who became designer to a generation May 23, 2012 ASK most Britons to name a famous designer, and they will probably offer Sir James Dyson or Terence Conran. Although both are distinguished, neither can lay claim to something as generation-defining as the iPhone. It was designed by Essex boy Jonathan Ive, who was yesterday knighted for services to design. It’s strange, then, that Ive [...]
After the FTSE 100 fell to 5,266 yesterday, where will it close at the end of the year? May 23, 2012 LOWER Glen Jones The UK has entered into a double-dip recession. However, the FTSE 100 isn’t just a reflection of the UK market, it’s a proxy for the entire global economy, as a large proportion of its revenue streams come from overseas. The bullish recovery from the lows of last summer has been curtailed quickly [...]
US home sales on the rise as Fed official says QE3 is not required May 22, 2012 HIGH levels of American home sales were recorded in April, boosting hopes for the US recovery, as a leading member of the Federal Reserve said that conditions are not ripe for more quantitative easing. Sales of already-owned homes shot up by 3.4 per cent to an annual rate of 4.62m units last month, the highest [...]
FTSE up after week-long dip May 21, 2012 BRITAIN’S top share index halted a week-long slide yesterday, as investors stumped up the courage to buy in on the dips of badly beaten equities, although the murky outlook for global growth kept gains to a minimum. London’s blue chip index closed 36.86 points higher, or up 0.7 per cent at 5,304.48, having fallen 5.5 [...]