Search Results for ten lost months


India is making China look old

LONDON | May 1, 2015 | By Asoka Wöhrmann, Chief Investment Officer at Deutsche AWM |  The stock markets in India and China both still have potential. But arguments for investing in India are currently more convincing. 

Euclid Tsakalotos

Euclid Tsakalotos: The faces change, the issues remain the same

ATHENS | April 28, 2015 | By Nick Malkoutzis via MacroPolis Such has been the impasse between Greece and its lenders over the last three months (add a few more on if you want to look beyond just this government’s shortcomings) that markets reacted with some joy to the news on Monday that one inexperienced economics professor is replacing another as the central figure in Athens’s negotiations with creditors.

coffee with beans

Morning briefing: Germany leads the way

The Corner | March 26, 2015 | The German economy is leading the way in yet more positive news for the eurozone, as consumer confidence reaches its highest level for 14 years. In Spain, business confidence is at it’s highest level for eight years, while concern about weak GDP figures in France may be offset by a recent improvement in consumption and exports.

Draghi 2015 ironicTC

ECB action beginning to pay off

MADRID | February 27, 2015 | J.J Fernandez-Figares| Link Securities | Efforts by the ECB to inject money into the euro zone are already showing signs of impact as positive M3 figures offer encouragement ahead of March purchases of sovereign bonds.

swiss franc

SNB: And this is only the beginning

MADRID | The Corner | Maximum uncertainty shook the global markets today, after the Swiss National Bank unexpected double move of removing the controverted minimum exchange rate to the EUR of 1.20 and lowering interest rates to –0.75%. Volatility will continue in the coming weeks “as unhedged Swiss companies may start hedging and the SNB may come up with additional measures like enforcing the use of negative interest rates to strengthen other currencies against the CHF,” explained UBP’s Swiss equities expert Martin Moeller. Some analysts believe the strategy might be too radical and “counterproductive for the ECB.” Stocks in Switzerland fell about 10 percent, while broader European indexes rose modestly. 

No Picture

Bankia issuance challenged

MADRID | By J.P. Marín Arrese | The Spanish Justice Department has launched a thorough investigation into the accounts which were submitted prior to the original BANKIA share issuance back in 2011. Experts from the Bank of Spain have delivered a devastating report implying these accounts did not provide a fair elucidation of the balance sheet. Should the final ruling follow that line, it could open the way for multi-billion euro claims from investors. Even though BANKIA has announced it can cope with such losses, with taxpayers footing two-thirds of the bill, the impact on Spanish financial market credibility could wreak havoc.

Japon_dineroTC copia

Japan: An Economy in Need of a Crisis?

Japan’s descent into recession has prompted questions of what the country must do to right itself — and many agree that “Abenomics” will not be enough. Most Japan watchers and economists, and even Abe himself, say that to restore sustainable growth, Japan needs sweeping deregulation and structural reforms. But pushing through such changes is proving daunting, despite Abe’s pledges to “drill deep into the bedrock” of Japan’s vested interests.

grecia tsipras1TC

Greece: Where did it all go wrong?

ATHENS | By Nick Malkoutzis via MacroPolisWhen Greece returned to international bond markets in April this year after a four-year exile, it was trumpeted by Prime Minister Antonis Samaras as another step towards the crisis exit door. “Confidence in our country was confirmed by the most objective judge – the markets,” he said after investors snapped up three billion euros of five-year bonds with a coupon of 4.75 percent. Exactly seven months later, though, the yield on those bonds shot up to almost 10 percent. Suddenly, the markets do not seem so confident. So, what went wrong? 

Alexander Pechersky2Bandera

“I don´t think amnesty for Russian offshore capital will be useful”

MADRID | By Ana Fuentes and Sean Duffy | Uncertainty surrounding the future impact of sanctions both at home and abroad has seen a mass exodus of capital from Russia this year. The Government has sought to address the issue by offering an amnesty to Russians with money stashed overseas. Over $100 billion has left the country in 2014 and Alexander Pechersky, a managing partner from ALT R&C, is sceptical about the impact this latest measure will have. “I don’t really believe in the efficiency of this amnesty. I think this is a measure for the media and to gain some headlines.”