AUSSIE NOW VULNERABLE TO A SELL-OFF November 9, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT IN CONTRAST to last week’s wild gyrations in the currency market, this week promises to be considerably more sedate. After the Fed announced $600bn in additional QE and the better than expected US jobs report, the FX market turned very bullish with traders ploughing into high-yield currencies like the Australian [...]
The spotlight will shine on periphery woes November 9, 2010 IRELAND is in trouble. The markets think it’s more likely to default on its debt than Argentina. It’s not alone though. Portugal is having a rough time too. Yesterday Portuguese and Irish 10-year bond yields hit 7.94 and 6.67 per cent respectively – record highs since the launch of the euro. The euro duly fell [...]
THE TIPSTER November 9, 2010 WITH currency wars high on the agenda at the G20 meeting this week, Barack Obama may face attacks over the Federal Reserve’s quantitative easing policy. The dollar-yen pairing could be particularly worth watching, as Japan explicitly intervened in the foreign exchange market only a few months ago. Trading continues at around the ¥80–¥81 area, but [...]
FOREX ANALYST PICKS November 9, 2010 FOREX STRATEGIST ILYA SPIVAK My pick: Short euro-US dollar near $1.41 Expertise: Global macro Average time frame of trades: 1 week-6 months Euro-US dollar has fallen sharply to start the week and a deeper downward correction looks likely given that the rally can be retraced back to August when the Fed first introduced the idea [...]
Indian equities are too expensive to be attractive in the short-term November 9, 2010 PRESIDENT Barack Obama’s visit to India this week affirmed its status as a rising global power and as a country that is set to assume greater importance on the world stage. Its achievements have long been overshadowed by its northern neighbour China but India has quietly marched along the path to development. It is certainly [...]
FUND MANAGEMENT NEWS November 9, 2010 SVM UNVEILS GLOBAL STOCKPICKING FUND Edinburgh-based SVM Asset Management will launch its first global stockpicking fund called the SVM World Equity Fund. SVM will change the name and objective of the SVM UK Alpha fund to form the new fund and the changes are due to take place, subject to approval, on 1 December. Managed [...]
The pioneers of third-party litigation look for a market November 9, 2010 IN his landmark Review of Civil Justice Costs published earlier this year Lord Jackson devoted a whole chapter to the nascent market in third-party litigation funding, the practice where funders are prepared to back legal claims in exchange for a share of the spoils. This has been historically regarded by courts as unlawful, but Jackson [...]
Foundations are the choice for big givers November 9, 2010 GOVERNMENT spending cuts will have a major impact on public services, putting more pressure on charities. Indeed, in David Cameron’s “big society” charities will become more important than ever. Luckily, wealthy individuals are increasingly showing an interest in giving, perhaps inspired by the examples of Bill Gates and Warren Buffett. But if you are thinking [...]
BRIEFS | LEGAL NEWS November 9, 2010 MORE LEAVE SJ BERWIN The movement of staff from SJ Berwin to Irwin Mitchell continues. Twelve associates from SJ Berwin are to make the move, following a four-strong real estate team moving last month. Three of the associates will join at partner level. The new arrivals will work in real estate, real estate finance, and [...]
The banks want to lend: they just can’t find the businesses November 9, 2010 SENIOR politicians have repeatedly called on the banking sector to increase their lending to SMEs (small and medium-sized enterprises). According to new ACCA/CBI research, however, they’ve got it the wrong way around: the banks are willing to lend but there are increasingly fewer and less credit-worthy businesses to lend to. WHERE ARE THE SMES? Discouraged [...]
