Moving away from market cap weighted bond benchmarks:At BlackRock, customised indexes account for c20% of $60bln in its passive Europe funds
Reuters data shows global announced M&A at $120bln, -62% in deal value and -36% in deal count from same period 2011, lowest since 2003
Getting ready for Facebook IPO? Lipper data shows money market funds had $10.8 billion in net outflows over the past week
Japan has not been a sexy destination for investment. In an environment of rising sovereign risk, Japan’s huge debt burden (+200% and rising) and lack of triple-A rating (Japan is rated AA-, Aa3 and AA by the main rating agencies) are not something that would attract the world’s investors, including the powerful central bank reserve managers.
However, the yen is a different story. Enjoying a safe-haven status, the Japanese currency is staying just below its all-time high around 75.90 per dollar, while it also rose to an 11-year peak against the euro in January.