Saturday 5th September 2015
NEWS TICKER, THURSDAY, September 3rd: The Straits Times Index (STI) ended 28.3 points or 0.98% higher to 2906.43, taking the year-to-date performance to -13.63%. The top active stocks today were SingTel, which gained 0.82%, DBS, which gained 0.80%, UOB, which gained 1.40%, OCBC Bank, which gained1.13% and CapitaLand, with a 0.36%advance. The FTSE ST Mid Cap Index gained 0.55%, while the FTSE ST Small Cap Index rose 0.24% - Madrid City Hall announced it would dedicate €10m out of its 2016 budget to a "welcome plan for refugees" to include housing, integration, psychological support and legal aid, City Hall spokeswoman Rita Maestre (Ahora Madrid) said during a press conference on Thursday. Maestre said a budget had been decided upon but that specific numbers had not: "We want to welcome all those who are fleeing from war", adding that given their situation "a permanent housing solution" would be needed in the city. The Mayor of the Spanish capital, Manuela Carmena, said on Wednesday that a decision would be taken at the city government meeting today: "The city of the hug must, of course, be ready to welcome refugees" - The European Bank for Reconstruction and Development (EBRD) is joining international efforts to clean up Tunisia’s Lake Bizerte with a €20m loan and technical assistance to support the expansion and rehabilitation of the sewerage network of the Bizerte region and the rehabilitation of three wastewater treatment plants located near the lake. The EBRD’s investment is part of an integrated environmental programme aimed at de-polluting Lake Bizerte and reducing sources of pollution through investments in wastewater, solid waste and industrial effluents. This programme is labelled by the Union for the Mediterranean and is part of the Horizon 2020 Initiative, which aims to de-pollute the Mediterranean by the year 2020. The European Investment Bank is providing a €40 million sovereign loan to the programme while the European Union Neighbourhood Investment Facility is contributing a €15m grant for both capital expenditure and technical cooperation - Analysis of illicit financial flows (IFFs) by Global Financial Integrity (GFI) shows that over the period 2003-2012 the global volume of IFFs grew by more than 9% annually (. In 2012 (the most recent year for which data are available), illicit flows were estimated at close to $1trn. In response to this unfettered surge in illicit capital leaving developing nations, the UN has endorsed target 16.4 in the Sustainable Development Goals (SDGs), which commits the global community to “significantly reduce” IFFs by 2030. This UN action “represents an historic moment in development policy given that it is the first time the international community has recognized the illicit flows problem and pledged to address it,” says GFI President Raymond Baker - US Secretary of Commerce Penny Pritzker named Eduardo Leite, Chairman of the Executive Committee of Baker & McKenzie LLP, as the new chair of the US section of the US-Brazil CEO Forum. “Mr. Leite has served on the U.S. section of the CEO Forum for several years, and I am pleased that he has agreed to serve as Chairman,” said Secretary Pritzker. The new US section chair was named after the former chair, Ms. Patricia Woertz, Chairman of the Board of Directors of Archer Daniels Midland Company, submitted her resignation from the role. However, Woertz will remain a member of the U.S.-Brazil CEO Forum, and Leite will complete the current three-year term, which ends on August 13th 2016 - MarketAxess Holdings Inc. (Nasdaq:MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced total monthly trading volume for August 2015 of $75.5 billion, consisting of $43.7 billion in U.S. high-grade volume, $26.7bn in other credit volume, and $5.1 billion in liquid products volume. MarketAxess is providing both the reported and adjusted estimated US high-grade TRACE volumes on its website. The Company believes that the adjusted estimated volumes provide a more accurate comparison to prior period reporting.

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BlackRock index update reveals global market moves

Wednesday, 16 January 2013
BlackRock index update reveals global market moves BlackRock has released its quarterly update of the BlackRock Sovereign Risk Index (BSRI), showing key movements by Australia, China, India, Japan, New Zealand, South Africa and the United States. The BSRI provides investors with a framework for tracking sovereign credit risk in 48 countries, drawing on a pool of financial data, surveys and political insights. http://www.ftseglobalmarkets.com/

BlackRock has released its quarterly update of the BlackRock Sovereign Risk Index (BSRI), showing key movements by Australia, China, India, Japan, New Zealand, South Africa and the United States. The BSRI provides investors with a framework for tracking sovereign credit risk in 48 countries, drawing on a pool of financial data, surveys and political insights.

The update also contacts the newly created interactive BSRI, which allows for viewing individual country scores, comparing two countries and sorting overall rankings by index components. The BSRI was developed through the BlackRock Investment Institute (BII) in June 2011, in recognition of the growing focus by investors around world on sovereign risk debt. The BSRI uses more than 30 quantitative measures, complemented by qualitative insights from third-party sources.

Highlights of the report include Japan’s fall in the rankings as a result of its sharply deteriorating fiscal balance – a space worth monitoring in 2013 as a new government and central bank governor settle in. “The fiscal profile of Japan worsened enough to cause it to slip two spots to 35th place, even as its other BSRI components improved. Japan now ranks just ahead of South Africa but below the likes of Turkey, Indonesia and Slovakia,” according to the BII.



The US remained at 15th place even as it teetered on the edge of the “fiscal cliff” of automatic tax hikes and spending cuts. "The last-minute deal was better than nothing, we think, but its limited scope means more tortured budget talks – and market volatility – ahead,” BII strategists said.

China, Australia and New Zealand moved up in the rankings, with Australia jumping three spots due to an improved primary budget balance. “China rose two spots to 16th place on the back of higher government revenues as a percentage of GDP. China’s ‘Willingness to Pay score’ improved due to the relatively smooth once-a-decade leadership change,” according to the report.

India remained at 39th place, but the country’s profile improved on most fronts, according to the BII: “India’s ‘Fiscal Space’ improved on a lower debt-to-GDP level and an improving primary balance. Among major BSRI movements, the BII also noted that South Africa dropped two notches to 36th place: “South Africa slid two spots to 36th place mainly due to a rapidly worsening current account deficit. Anecdotal evidence has money fleeing the country at a rapid pace, and the BSRI appears to reflect this.”

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