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Markets
Hendry: May Be Making ‘Error of Judgement’ on China
by Edward Harrison Back this past September, Hugh Hendry spoke with Bloomberg's Kevin Crowley about investment strategies, financial regulation and the role of hedge funds. Bloomberg has just released the video and I recommend watching.…
Brazil Underscores Commitment To Weakening BRL
By Win Thin Brazil announced that it is allowing its Sovereign Wealth Fund (SWF) to trade currencies and currency derivatives (futures). The SWF is managed by the Treasury, and so this gives the authorities another channel through…
Euro Zone Contagion Remains In Force
By Win Thin Even though Greece, Portugal, and Ireland bonds are trading firm today, don’t be fooled into thinking markets are getting more constructive. ECB has reportedly been actively buying today, and so bond spreads are not…
A Kind Word for Homeowners
By Annaly Capital Management The next voice to be heard in the debate on the future of housing finance in the United States will be that of the Treasury Department, which is slated to release its report on the subject sometime this month.…
Brazil Takes Further Action To Weaken Currency
By Win Thin After warning of further measures to fight BRL appreciation, Brazil unveiled yet another policy measure in its toolbox. The central bank introduced reserve requirements on local bank dollar short positions this morning in an…
Bill Gross: Deficit Hawk, Bond Vigilante
By Edward Harrison American politicians and citizens alike have no clear vision of the costs of a seemingly perpetual trillion-dollar annual deficit. Policy stimulus is focused on maintaining current consumption as opposed to making…
The Verdict on US Bond Yields?
By Claus Vistesen Just before we turned the clock on 2010 I commented on the recent increase in US yields and noted the following simple issue; How investors perceive and interpret will determine great many things; is it a reflection…
Markets Vanish – In a Flash
Frederick J. Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009) and "The Coming Collapse of the Municipal Bond…
QE, Currencies and Commodities
by Marc Chandler One of the market developments that is capturing the imagination (and wallets) of investors is the rally in commodities. As an example, since late Aug '10, when Fed Chairman Bernanke seemed to signal QEII and US economic…
Chilean Plan To Weaken The Peso Likely To Be Followed By Others In EM
by Win Thin Chile peso is the worst performer today vs. the dollar, down 5% after the central bank announced plans to buy $12 bln in order to weaken the currency. The bank plans to buy $50 mln a day from January 5 to February 9, with…