Authored by Jeffrey Snider via Alhambra Investment Partners, Back on March 10, the New York Fed’s attempt at real-time GDP forecasting predicted that the Q1 2017 estimate would be 3.2%. That would have qualified as another decent quarter, the second out of the past three and somewhat in keeping with “reflation.” As we know today, the advance figure calculated by the Commerce Department amounted to just 0.69% […]
When it comes to repackaging bad loans in the eurozone, 2017 has been a tale of two peripheries. While global investors who had been hoping to buy debt backed by Italy’s non-performing loans have been left disappointed, in Ireland deals are gathering momentum. Lone Star this week priced its latest securitisation of Irish mortgages, with the US private equity firm selling €420m of bonds backed by distressed […]
At Al Azhar, he embraced the mosque’s Grand Imam, Ahmad al-Tayeb, who urged the West not to hold an entire religion “accountable for the crimes of any small group of followers.” Continue reading the main story Pope Francis then turned to matters of state, seeking to encourage progress on human rights from his host, President Abdel Fattah el-Sisi. Mr. Sisi ousted the Muslim Brotherhood in a military […]
When the Nasdaq Composite index first spent two days above the 5,000 mark, it signalled the last gasp of a spectacular bull market. Confidence in internet companies’ power to change the world and mint fortunes was about to collapse. Seventeen years later the market has hit a milestone of 6,000, part of a run of record highs for global equity markets. While stocks have again been rising […]
Nobody should ever attempt to judge an investment over a period of just 100 days. It is far too short a time to assess the quality of performance and far too prone to random effects. And in any case, most of us need results over very much more than 100 days. It is therefore a little random to be judging the Trump presidency’s impact on investors after […]
Our round-up of the best comment and analysis from the Financial Times during the week focuses on US corporate earnings, eurozone interest rates and the future of US economic reforms. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. The FT’s John Authers says US corporate earnings have reached a turning point — the earnings recession that […]
Emerging market equities have been the darling asset class de jour in 2017, mainly in Asia and Latin America, despite the March FOMC rate hike, a US Dollar Index at or above 100 and a mini-swoon in crude oil after a Saudi-Russian output cut spat. Earnings growth (India/Thailand) a stabilized currency (China), policy reforms (India, Brazil, Indonesia) local interest rate cuts (Brazil) and lower US protectionist policies […]
Short-term borrowing costs in China have climbed to their highest level in two years as comments from President Xi Jinping fan investor expectations that a “regulatory windstorm” is part of a broader crackdown on the financial sector. China’s premier on Thursday described finance as the “core of a modern economy”, according to state news agency Xinhua, adding that “accurate judgment of potential financial risks serves as a […]
April 28, 2017 by: Hudson Lockett in Hong Kong Friday 05.00 BST Overview Equities fell on Friday in Asia as the region’s markets took their cues from an underwhelming session on Wall Street, while currencies pared earlier rises amid mixed signals on the future of Nafta. Hot topic Asia-Pacific equities were choppy after Wall Street investors on Thursday digested the prospects of the Trump administration’s proposed tax […]
Dubai (Masaader News) April 27, 2017 – Ebtkaar New Media Services, a UAE-based company, has launched “Masaader News ” platform, a news analysis web platform that provides 24/7 economic, political and social updates on the GCC, Middle East and Global News in Arabic and English. The company said in a press release: “Masaader News is not only a news portal, but also a service that allows job […]
Dubai, 26 April, 2017: Mawarid Exchange, a leading exchange company has signed Remittance Agreement with the Land Bank of the Philippines, one of the top government financial institutions in Philippines. The agreement has been signed by Mr. Mohamed Al Nuaimi, CEO, Mawarid Exchange and Mr. Alex V. Buenaventura, President, Land Bank of the Philippines. According to this agreement, Mawarid Exchange clients shall be able to use the […]
€60bn monthly bond purchase programme set to continue for rest of year Via FT
European companies have been slow to capitalise on this week’s market rally — a pause in issuing new bonds that bankers do not expect to last with borrowers set to return as the spring earnings season progresses. There was no investment grade euro bond issuance from non-financial corporates last week as debt issuers sat on the sidelines ahead of the first round of the French presidential election […]
Small Australian internet service provider (ISP) Comvergence has begun deploying the nation’s first G.fast services using the AXOS solution from broadband communications access systems and software provider Calix. The G.fast service is being provided to businesses across Sydney and Melbourne, with Calix’s AXOS E5-16F G.fast node and 801F GigaPoints being installed inside multi-tenant units. The service is currently delivering symmetrical speeds of around 300Mbps, with the capacity […]
Netflix saw a flood of demand for a €1.3bn bond sale on Wednesday, as supply-starved junk debt investors put aside concerns around the US streaming service’s substantial cash burn to get a piece of its debut euro deal. The sub investment-grade rated company announced the deal on Monday as a €1bn 10-year bond to help fund its international expansion and planned shift to developing more original content. […]
NEW HAVEN, Conn. A federal judge in Connecticut on Wednesday sentenced a former Jefferies Group bond trader to two years in prison and to pay a $2 million fine after he was found guilty earlier this year of defrauding customers on bond prices. A jury in January found Jesse Litvak guilty of one of 10 criminal charges he had faced, a muted victory as prosecutors try to […]
No president likes being judged on his first hundred days in office, not least Donald Trump. It is, he tweeted last week, a “ridiculous standard” by which to be measured, even though he also claimed to have accomplished “a lot”. With his 100th day in the White House falling on Saturday, investors have more nuanced ideas. For much of 2017 financial markets have doubted the global “Trump […]
26 April 2017 Mumbai, INDIA – Etihad Airways, the national airline of the United Arab Emirates, and strategic partner Jet Airways, India’s full-service premium international carrier, have signed a ground breaking agreement with the Government of Maharashtra to promote tourism to the western Indian state. The partnership will enable both airlines to capitalise on their strong links with Maharashtra and further propel domestic and international arrivals into […]
newslide Star Wars: Episode IX gets 2019 release date The final film in the new Star Wars trilogy, Star Wars: Episode IX, will be released in May 2019, according to movie studio Walt Disney Co. The May 24 release date marked a shift in strategy for Disney, whose two previous new entries in the sci-fi adventure have all been set for release in mid-December, during the winter […]
Wednesday 03:00 BST Overview Momentum from a buoyant Wall Street carried over into Asia trading as equities rallied while bonds and oil prices continued to slide. Hot topic Stock markets across the region took their cues from Wall Street, where on Tuesday the S&P 500 neared a record closing high and the tech-focused Nasdaq closed above 6,000 for the first time. In Sydney, the S&P/ASX 200 was […]
Australia’s National Broadband Network (NBN) company has attained speeds of 1.1Gbps download and 165.6Mbps upload across its fixed-wireless network during a series of live trials in regional Victoria in partnership with Ericsson, NetComm Wireless, and Qualcomm. The tests were conducted in March at a Ballarat campus of Yuille Park Community College, which is situated 1km from the fixed-wireless tower used for the trial. To attain speeds in […]
Tuesday 12:30 BST What you need to know ● Stock markets extend rally on French election relief● Euro adds to gains as Paris’ bond yields steady ● Havens attract sellers, pushing down gold, the yen and Bund prices● Traders eye Nasdaq 6,000 as company earnings slip into fast gear● Brent crude prices higher as base metals firm——————- Hot topic The relief over the French election, which boosted […]
After yesterday’s violent gap up in stocks across the globe in response to the “expected” outcome from the French election, today the risk on sentiment has continued if to a lesser extent, with stocks in Europe, Asia all rising while S&P futures point to a higher open. Yen, gold decline, while the euro traded as high as 1.09 this morning before fading some gains; oil is up […]
Risk is definitely on this morning as European shares soar, led by French stocks and a new record high in Germany’s Dax, after a “French relief rally” in which the first round of the country’s presidential elections prompted investors to bet that establishment candidate Emmanuel Macron will win a runoff vote next month, and who is seen as a 61% to 39% favorite to defeat Le Pen […]
