Chief Markets Correspondent, London
Jamie's Feed
May 27, 2015

Dollar has quick pitstop, then motors to new highs

LONDON, May 27 (Reuters) – Financial market trading revolved
around the U.S. dollar on Wednesday with European shares
rallying on the back of a weak euro and U.S. shares and
commodities struggling.

The dollar soared to a fresh eight-year high against the yen
after having fallen back earlier on Wednesday following its
biggest rally in two years the day before. But its renewed
strength against the Japanese currency sent ripples across other
asset classes.

May 27, 2015

Goldman tops 2015 City of London bank bonus charts

LONDON (Reuters) – Bankers at Goldman Sachs received the highest bonuses in London’s banking industry this year but bonuses paid out by the top 10 banks were down overall compared to last year, a survey published on Wednesday showed.

Goldman Sachs bankers received an average bonus of 194,000 pounds ($300,000), some 14 percent more than their peers at second-placed Morgan Stanley, according to salary benchmarking site Emolument.com.

May 27, 2015

Dollar retreats after its best day in two years

LONDON (Reuters) – A string of reversals from sharp moves the previous day marked global financial market trading on Wednesday, with stocks and oil gaining ground and the U.S. dollar falling after its biggest rally in two years.

In early European trading, the dollar was down around a third of one percent against a basket of currencies .DXY, after jumping 1.3 percent on Tuesday, its biggest rise since July 2013.

May 22, 2015

Memo to traders (in case you forgot): Don’t fight the ECB

LONDON, May 22 (Reuters) – “Don’t Fight the Fed” has long
been a central tenet of financial markets and one of the most
profitable trading strategies around. This week confirmed – if
there was any doubt – that “Don’t Fight the ECB” is just as
central, and equally profitable.

A speech in London on Monday from European Central Bank
Executive Board member Benoit Coeure about tweaks to the bank’s
bond-buying programme, or quantitative easing (QE) caught the
market on the hop and triggered one of the euro’s biggest falls
for years.

May 22, 2015

Stocks get that Friday feeling as stimulus trumps growth concern

LONDON (Reuters) – Global stocks rose and bond yields fell on Friday, as investors shrugged off slowing global growth and focused instead on the continued stimulus provided by the world’s major central banks.

Wall Street’s record high on Thursday lifted Asian stocks on Friday, a day that will be packed with key European and U.S. economic data as well as speeches from Federal Reserve chair Janet Yellen and European Central Bank president Mario Draghi.

May 20, 2015

Doubts over Greece add to euro’s ECB-driven frailty

LONDON, May 20 (Reuters) – The euro slid to a two-week low
and a rally in European shares stalled on Wednesday after a
Greek official said the country may not make an upcoming
repayment to the International Monetary Fund.

The euro’s fall follows remarks from a European Central Bank
board member on Tuesday that the central bank could increase the
pace of its bond-buying in May and June, bringing its losses
against the dollar this week to as much as 3 percent.

May 20, 2015

Euro slides as Greek official says IMF repayment in doubt

LONDON (Reuters) – The euro slid to a two-week low and a rally in European shares stalled on Wednesday after a Greek official said the country may not make an upcoming repayment to the International Monetary Fund.

The euro’s fall follows remarks from a European Central Bank board member on Tuesday that the central bank could increase the pace of its bond-buying in May and June, bringing its losses against the dollar this week to more than 3 percent.

May 19, 2015

Big bond funds see opportunities amid global rout

LONDON, May 19 (Reuters) – The world’s biggest bond funds
are shifting allocations towards higher-yielding corporate or
long-dated debt after a savage bout of volatility in core
government bonds.

Sovereign bond yields have soared since the rout started
about four weeks ago, led by a selloff in German Bunds as some
investors drastically revised inflation expectations.

May 19, 2015

Investors cut U.S. equity exposure to lowest since January ’08: survey

LONDON (Reuters) – International investors slashed their exposure to U.S. equities in May to its lowest in over seven years, while maintaining the euro zone as their leading stock market destination, a closely watched survey said on Tuesday.

Driven by worries about a string of disappointing U.S. economic indicators and the strength of the dollar, global investors cut their allocation to U.S. stocks to 19 percent underweight from 12 percent underweight the month before.

May 19, 2015

Investors cut U.S. equity exposure to lowest since January 2008

LONDON (Reuters) – International investors slashed their exposure to U.S. equities in May to its lowest in over seven years, while maintaining the euro zone as their leading stock market destination, a closely watched survey said on Tuesday.

Driven by worries about a string of disappointing U.S. economic indicators and the strength of the dollar, global investors cut their allocation to U.S. stocks to 19 percent underweight from 12 percent underweight the month before.