Category NEWS

Investing in an Uncertain World

Investing in an Uncertain World June 9, 2014 by Gip Bartels The following commentary represents the views of the Multi-Cap Value Strategy Team. Since hitting bottom in March 2009, stocks have enjoyed an historic advance. The S&P 500 has surged more than 180%, capped off by last year’s 32+% gain. Yet even as the average […]

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Fixed Income Perspectives

Treasuries While we maintain a bias toward 10-year rates ending the year around or above 3%, we continue to think short-dated rates will be anchored for the foreseeable future. This will leave the yield curve as steep or steeper than it is today (see figure). We currently recommend those seeking principal protection look to bonds maturing […]

The rise of BlackRock

The rise of BlackRock In 25 years, BlackRock has become the world’s biggest investor. Is its dominance a problem? Dec 7th 2013 | From the print edition ASK conspiracy theorists who they think really runs the world, and they will probably point to global banks, such as Citigroup, Bank of America and JPMorgan Chase. Oil […]

Risk on/risk off correlations are fading fast

  Risk on/risk off correlations are fading fast By Stephen Foley in New York If risk on/risk off is off, what’s on? It had all been so simple. Good news on US jobs? Buy equities, commodities, emerging markets, and sell bonds. New eurozone wobble? Sell equities, commodities, emerging markets, buy bonds. More ON THIS STORY […]

Barron’s : How to Play Stocks and Bonds as Rates Rise

Cutwater Asset’s Cliff Corso expects another good year for equities. Why he likes fixed-income plays in munis and some high-yield bonds. Investors have been worrying about interest rates, which have been their good friend in recent years. But rates are poised to move higher; it’s just a question of when. And that raises tough questions, […]

Current Environment in high yield

– Opportunity in high yield still exists given attractive spreads and lower interest rate sensitivity  Fundamentals Corporate balance sheets remain healthy and supportive of the high yield market Companies continue to refinance qt lower rates and extend debt maturity profile Default rates remain around 1%, still well below historical averages (4%) Technicals Retail fund flows […]

The Fed’s Surprise and Yellen’s Challenge

  Mohamed A. El-Erian Mohamed A. El-Erian is CEO and co-Chief Investment Officer of the global investment company PIMCO, with approximately $2 trillion in assets under management. He previously worked at the Internation… The Fed’s Surprise and Yellen’s Challenge NEWPORT BEACH – The US Federal Reserve sparked a global – and now month-long – guessing […]

World Economic Outlook (WEO)

Hopes, Realities, and Risks Global economic prospects have improved again, but the bumpy recovery and skewed macroeconomic policy mix in advanced economies are complicating policymaking in emerging market economies. Chapter 3 examines the prospects for inflation, particularly because inflation was remarkably stable in the wake of the Great Recession and, in fact, has become less […]

Aid to poor countries slips further as governments tighten budgets

Aid to poor countries slips further as governments tighten budgets 03/04/2013 – Development aid fell by 4% in real terms in 2012, following a 2% fall in 2011.  The continuing financial crisis and euro zone turmoil has led several governments to tighten their budgets, which has had a direct impact on development aid.  There is also […]

Revive Lincoln’s Monetary Policy: an Open Letter to President Obama

Revive Lincoln’s Monetary Policy: an Open Letter to President Obama by Ellen Brown posted Apr 07, 2009 President Obama at the We Are One Inaugural Celebration at Lincoln Memorial Dear President Obama: The world was transfixed on that remarkable day in January when, to poetry, song, and dance, you gazed upon Abraham Lincoln’s likeness at the […]

Money from Nothing: How Private Banks Create Money and Ideas for Reform of the Monetary System by James Robertson — YES! Magazine

Money from Nothing Supplying money should be a public service, not a cash cow for banks. by James Robertson posted Jul 07, 2009 The way money is created and issued, who creates it and in what form—as debt or debt-free, in one currency or another—largely determines whether a financial system works fairly and efficiently or […]

Bank of England

By far the largest role in creating broad money is played by the banking sector…..Whan banks make loans they created additional deposits for those that borroxed the money. Bank of England

Using Visual Recognition to Tap into the Consumer Mind-set – Forbes

Using Visual Recognition to Tap into the Consumer Mind-set Paul Dunay, gyro Marketers have been trying to capture that magic moment when a potential consumer is actually looking to interact with their brand. Back in the day, we had to rely on “inferred interests” gathered from demographics, psychographics and other data to estimate what segments might […]

Carrefour in Turkey: not so supermarket | beyondbrics

Carrefour in Turkey: not so supermarket Mar 25, 2013 4:46pm by David O’Byrne A long-running spat between Turkey’s Sabanci and retail partner Carrefour has taken another downward turn: Haluk Dincer, head of Sabanci Retail and Insurance, says the group has lost patience with its French counterpart and that if it can’t get what it wants, […]

Turkey’s Economic Growth Slows Sharply – WSJ.com

ISTANBUL—Turkey’s rate of economic growth slowed sharply to 2.2% in 2012, the Turkish statistics agency said, as weak domestic demand and spillover from the European debt crisis took its toll after two years of rapid expansion that rivaled China. Turkish Economy Minister Zafer Caglayan delivers a speech in Madrid on Nov. 27, 2012. According to […]

Turkey makes great strides with Islamic banking | Free Malaysia Today

Turkey makes great strides with Islamic banking April 1, 2013 By Kazi Mahmood KUALA LUMPUR: The Turkish Islamic banking and finance sector commands a 5% to 6% of the nation’s overall banking assets, much lower compared to Malaysia’s 20% or US$65.6 billion (RM202.7 billion) in assets in 2012. The secular Turkey is making great strides […]

Tax burdens on labour income in OECD countries continue to rise

  26/03/2013 – New data show that across OECD countries the average tax and social security burden on employment incomes increased by 0.1 of a percentage point to 35.6 per cent in 2012.  It increased in 19 out of 34 countries, fell in 14,  and remained unchanged in  1.   The increases were largest in […]

Global economy is improving but Europe lags behind, says OECD

Global economy is improving but Europe lags behind, says OECD 28/03/2013 – Global economic activity is picking up, but the continuing crisis in the euro area is delaying a meaningful recovery, the OECD said in its latest Interim Economic Assessment. The Assessment, presented in Paris by Chief Economist Pier Carlo Padoan, says that the G7 […]

S&P upgrades Turkey’s credit rating – Invest in Turkey

  Zaman – Credit rating agency Standard&Poor’s (S&P) has raised Turkey’s sovereign credit rating to ‘BB+’, up from ‘BB’, one notch below the investment grade. The statement from S&P on the rating upgrade said that the Turkish economy was finding its balance without hindering its strong fiscal performance. “Turkey’s floating exchange rate regime, cautious limits […]

M&As in Turkey double in volume in 2012 – Invest in Turkey

M&As in Turkey double in volume in 2012 17.01.2013 Dünya – Mergers and acquisitions (M&A) in Turkey last year heightened sharply to reach USD 23.2 billion in volume, according to a report by global consultancy firm Ernst & Young’s (E&Y) Turkey office. M&A operations’ total worth hit USD 30 billion when transactions with undisclosed deal […]

Allianz invests EUR 684 million in Turkish insurance market – Invest in Turkey

Allianz invests EUR 684 million in Turkish insurance market  29.03.2013 Sabah – Germany’s Allianz has boosted its presence in the Turkish insurance market with the acquisition of 93.9 percent shares of Yapi Kredi Sigorta, the insurance arm of Turkish-Italian partnered Yapi Kredi Bank, for TRY 1.6 billion (Approx. EUR 684 million), becoming the top supplier […]

European Sovereign Debt Crisis Explained

WHAT is the European sovereign dept crisis ? European Sovereign Debt Crisis is an unstable situation in which the 17-nation euro zone will not be able to pay the entire debt obligation. It began in Greece in 2009, and has spread to Portugal, Ireland, Italy, Spain, threatening to push Europe into recession. WHY did the […]

U.S. stock indexes pause after record run – MarketWatch.com

U.S. stock indexes pause after record run U.S. stocks veer between small gains and losses on Tuesday following a seven-session winning run that had the Dow Jones Industrial Average closing at another all-time high. NEW YORK (MarketWatch) — U.S. stocks were little changed on Tuesday following a seven-session winning run that had the Dow Jones […]

U.K. Loses Top Aaa Rating From Moody’s as Growth Weakens – Bloomberg

U.K. Loses Top Aaa Rating From Moody’s as Growth Weakens Britain lost its top credit rating by Moody’s Investors Service, which cited the continuing weakness in the nation’s growth outlook and the challenges that presents to the government’s fiscal consolidation program. The rating on the U.K. was lowered one level to Aa1 from Aaa and […]

How to Use a Linear Regression to Identify Market Trends

How to Use a Linear Regression to Identify Market Trends   On a trading chart, you can draw a line (called the linear regression line) that goes through the center of the price series, which you can analyze to identify trends in price. Although you can’t technically draw a straight line through the center of […]

Biggest Stocks Beat S&P 500 Most in 13 Years as Valuations Fall

Biggest Stocks Beat S&P 500 Most in 13 Years as Valuations Fall By Whitney Kisling – Jun 18, 2012 8:59 AM GMT+0200 The largest U.S. companies are beating the average stock in the Standard & Poor’s 500 Index by the most in more than a decade, fueled by rising dividends, valuations 31 percent below the […]

U.S. Stock Futures Drop as Spanish Bond Yield Surges

By Namitha Jagadeesh – Jun 18, 2012 1:31 PM GMT+0200   U.S. stock-index futures declined as Spanish borrowing costs surged, sparking speculation the country will be forced to ask for a bailout and outweighing optimism Greece will not leave the euro area. Goldman Sachs Group Inc. (GS) declined 0.8 percent in German trading. Facebook Inc. […]

Biggest Bond Traders See Worst Over for Treasuries

By Daniel Kruger and Cordell Eddings – Jun 18, 2012 11:21 AM GMT+0200   As the U.S. recovery slows and Federal Reserve efforts to boost growth expire, there’s no consensus among the biggest bond dealers that the central bank will begin a fourth round of economic stimulus with consumer and corporate borrowing costs already at […]

Crude Futures Decline in New York on Record Spanish Bond Yields

Oil dropped from the highest level in a week as concern about Europe’s debt crisis outweighed optimism spurred by elections in Greece. Futures fell as much as 0.4 percent in New York after the Spanish 10-year bond yield rose to a euro-era record of 7.13 percent. Greece’s New Democracy and Pasok parties won enough seats […]

U.S. Stocks Rise For 2nd Straight Week On Stimulus Bets

U.S. Stocks Rise For 2nd Straight Week On Stimulus Bets By Lu Wang – Jun 16, 2012 6:00 AM GMT+0200 U.S. stocks rose, giving the Standard & Poor’s 500 Index its first back-to-back weekly gain since April, amid speculation central banks will take steps to stimulate growth and contain a prolonged debt crisis in Europe. All 10 […]

Wall Street gains as Europe girds for turmoil

(Reuters) – Stocks rose on Friday on optimism major world central banks will take coordinated action if the closely watched election in Greecethis weekend results in market turmoil. The news offset the latest round of weak U.S. economic data, which pointed to sluggish growth domestically. Officials of the Group of 20 leading industrialized nations told […]

Global shares, euro jump on Spanish bank bailout

(Reuters) – A wave of relief buying swept across financial markets on Monday after a rescue package of up to $125 billion for Spain’s banking sector eased some concerns about the euro zonedebt crisis. Spanish banks have been hit by a collapse in the real estate sector and a surge in bad loans but their […]

Méthode de calcul de la commission de performance

Méthode de calcul de la commission de performance Les gestionnaires de hedge funds se rémunèrent de deux manières. Ils perçoivent une commission de gestion (en général 1% à 2% des actifs gérés), ainsi qu’une commission de performance (en général 20% des actifs gérés). C’est ce que l’on nomme la structure 1-20, voire 2-20. La commission […]

US STOCKS – SNAPSHOT – Wall Street gains, S&P posts 2012’s best week

(Reuters) – The S&P 500 ended its best week in 2012 on Friday, as investors returned to stocks after sources told Reuters that Spain was expected to request aid for its troubled banks. The Dow Jones industrial average climbed 93.16 points, or 0.75 percent, to end unofficially at 12,554.12. The Standard & Poor’s 500 Index advanced 10.65 […]

Euro zone agrees to lend Spain up to 100 billion euros

The Eurogroup and Madrid  said the bailout would be sufficient to cover estimated capital requirements ( up to 100 billion ) in Spain. With the rescue of Greece, Irland, Portugal  and now Spain, the EU and IMF have now committed around 500 billion euros to Finance European bailouts.