Global Investing

from MacroScope:

New twist in Hungary’s Swiss debt saga. Banks beware.

September 9, 2011

A fresh twist in Hungary's Swiss franc debt saga. The ruling party, Fidesz, is proposing to offer mortgage holders the opportunity to repay their franc-denominated loans in one fell swoop at an exchange rate to be  fixed well below the market rate.  This is a deviation from the existing plan, agreed in June, which allows households to repay mortgage installments at a fixed rate of 180 forints per Swiss franc (well below the current 230 rate). Households would repay the difference, with interest, after 2015.

Emerging consumers’ pain to spell gains for stocks in staples

September 1, 2011

Food and electricity bills are high. The cost of filling up at the petrol station isn’t coming down much either. The U.S. economy is in trouble and suddenly the job isn’t as secure as it seemed. Maybe that designer handbag and new car aren’t such good ideas after all.

Clinging to hope in bear-bitten Russia

August 19, 2011

Poor Russia. After spending six months as the world’s best performing emerging market, the Moscow bourse  has been the big loser of this month’s rout – year-to-date returns of over 10 percent until mid-July have since dissolved in a sea of red, with a plunge of over 20 percent since the start of August. As oil prices fell and the outlook for U.S. and European growth darkened, overweight positions in Russia halved versus July, a survey by Bank of America/Merrill Lynch showed this week.

Inside the Reuters investment polls

February 1, 2011

The headline news from our Reuters asset allocation polls this month was that not much has changed from December in terms of overall investment positioning, but that there was a decided shift from emerging markets and European stocks to North America.

The Naked Truth

February 1, 2011

Do independent asset managers perform better than bank-run funds?

Lipper was recently approached to analyse the difference in performance between funds operated by broader financial services companies (banks and insurers) and those managed by ‘pure play’ asset managers.

Shock! Emerging capital controls may just be working

July 30, 2010

Do capital controls work?  After years of telling us that they do not, the IMF and World Bank reluctantly conceded last year they may not be all that bad and indeed in some cases they may actually help keep away some of the speculators who have in recent years been pouring into emerging markets.

from Funds Hub:

Live from the City Oscars 2010

June 15, 2010

I'll be at the Guildhall in London today for the latest run down of the financial sector's favourite brokers, analysts and fund managers.

Scrambling for debt

May 25, 2010

Developing countries must be eyeing with alarm the vast amounts of bonds that the euro zone and the United States are planning to sell this year and for years to come. Having borrowed large sums, starting a couple of years back to fund the bailout of  U.S. and European banks, developed economies must now raise the cash to repay the holders of those old bonds  – in market parlance, they need to roll over the debt.

from DealZone:

Sovereign Funds sextuple down

October 14, 2009

They may be placing smaller bets, but sovereign wealth funds were back with a vengeance in the third quarter.