Sunday 21st January 2018
January 19th 2018: The Deferred Action for Childhood Arrivals (DACA) programme looks to be a continuing stumbling block for Democrats who were expected to ink the US government spending bill, with an attendant effect on the US dollar. According to Miles Eakers, chief market analyst at Centtrip the dollar continues to show weakness ahead of possible US government shutdown. “Late last night the House of Representatives passed concessions on a major increase in defence spending and a hardline immigration bill. But Senate Democrats said they would likely block the measure unless President Donald Trump and Republicans include protection for young immigrants. An impasse could result in Trump celebrating his first anniversary in office with the first shutdown in four years, despite his party holding a majority in both houses. After reports of the vote, [the market] saw continued, but muted, dollar weakness, pushing the GBP/USD pair back above $1.39 and EUR/USD nearer the $1.23 resistance level.” The question is now whether a short=term patch will be agreed today, or whether the Republicans and the White House will be compelled to get serious about a longer-term solution. The last time a short-term bill was passed was December last year, which passed by a grand majority of 66 votes to 32. This time round it looks more difficult - Mike van Dulken, Head of Research at Accendo Markets commented to clients this afternoon: “Equities are positive to close out the week, rebounding from a negative US close and ahead of a key Senate vote to stave off a government shutdown tonight. Weaker than expected UK Retail Sales have seen the UK’s blue-chip index take a leg higher, benefiting from Sterling's retreat from fresh post-referendum highs earlier this morning. Interestingly, Germany’s DAX is the rank outperformer, this in spite of additional Euro strength after hawkish ECB comments, whilst US equities point towards a positive open this afternoon. The FTSE has climbed higher thanks to GBP weakness benefiting names such as ULVR, BATS, SHP, RELX, CCL and GSK, while Miners are embracing the weaker USD's fillip for metals. This is easily offsetting weakness for BP (Oil lower on IEA report), HSBC (US forex fine), BT (pension scheme deal) and KGF (Carpetright profits warning). Germany’s DAX outperforms with just Linde in the red, as Thyssenkrupp, Adidas, BASF and Fresenius lead the way higher. The FTSE 100 has broken back above 7715. The DAX 30 has broken above 13350 to flirt with a 13420 breakout. Dow Jones Futures have rebounded to re-test 26055. Gold has broken back above $1332.” --

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  • Tuesday, 11 July 2017 CAMRADATA says global equity tops the asset class searches in June
    The latest monthly snapshot of the top investment searches carried out within the CAMRADATA Live database has just been released by CAMRADATA, a leading provider of data and analysis for institutional investors. Global equity was the most searched for asset class by investors in June 2017, followed by US Equity and Emerging Markets Equity. Read more...
  • Wednesday, 06 May 2015 Barings launches its first series of Hong Kong domiciled funds
    Baring Asset Management has launched its first series of Hong Kong domiciled funds, including the Baring Global Multi Asset Income Fund, the Baring European Equity Income Fund and the Baring Greater China Equity Fund. The three funds were granted approval from the Hong Kong Securities and Futures Commission (SFC) at the end of March. The funds will launch tomorrow (May 7th). Read more...
  • Wednesday, 06 May 2015 BNP Paribas Investment Partners launches debut European CLO 2.0
    BNP Paribas Investment Partners has launched BNPP IP Euro CLO 2015-1, the first European collateralised loan obligation (CLO) 2.0 managed by a French asset management company. The securitisation vehicle, worth €308m, invests in a diversified portfolio of syndicated leveraged loans to European corporations. Read more...
Asset Classes

Looking back at the results of 2013, analysts unequivocally recognize a serious economic downturn: there was a slow-down in GDP growth (1.3 % only, according to Rosstat), national currency weakened by more than 5% amidst consistently high oil prices, investment and consumer demand shrank, and the labor market saw a sharp decline. The only comfort comes from the freeze on the rates of natural monopolies, which should slow inflation down in the second half of the year.

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Uncertainty over interest rates and the paltry returns from traditional government bonds has spawned a new collection of multi-asset credit (MAC) strategies and funds. Even the most conservative investors are hopping on board although there are limits to the chances they are willing to take. The good news is the current crop comes in many different risk-adjusted flavours. It is easy to understand why MAC funds have captured the imagination. Investors have been on a prolonged hunt for yield and these dynamic strategies search across the credit spectrum for higher returns and downside protection. Lynn Strongin Dodds reports.

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With 2013 over, Interactive Data's US Fixed Income evaluation team reviews the US Fixed Income market over the last 12 months.

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Wednesday, 13 November 2013

European Fixed Income Review: October

Despite the concerns surrounding the US market, there were notable gains in the month in some core EMEA markets, while peripheral government bond yields declined, says Anthony Belcher, director of EMEA Pricing and Reference Data at Interactive Data

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With Syria dominating the headlines commodities, especially oil and gold, are yo-yoing in sync with the news. Though this makes fertile trading ground for short term investors, for long term investors it is harder to separate the “noise” generated by the sabre-rattling from where long term commodities prices could realistically be. What’s the solution?
By Vanya Dragomanovich.

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Tuesday, 29 October 2013

A better slew of commodity ETPs?

There is still a good investment case for commodity ETFs but in the current environment of declining prices careful selection of the right ETF is imperative, rather than opting for the simplest basket-only approach. Older generation ETFs have lost their shine of late; no wonder then that a new slew of sleeker, more sophisticated ETPs have been launched that claim to be an improvement on previous ETP structures. Are they right for the times? Vanya Dragomanovich reports.

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Tuesday, 10 September 2013

Euroclear sets a new path

These are lambent days for Euroclear. The post trade service provider has rediscovered its mojo over the last couple of years; really ever since its urbane chief executive Tim Howell joined Euroclear from HSBC and gave it a much needed shot in the arm. Having a banker who walked the talk of investment services at the helm has brought a fresh and brisk perspective to the firm. Is it a case of the right man, at the right firm, at the right time? FTSE Global Markets spoke to Howell about the firm’s strategy and how it is leveraging its strengths at a time of transformation in the post trade space.

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The markets this year have started with a bullet. The current bull market hints that investor confidence might be rising as the debt crisis in Europe looks to be under control and the US is managing its fiscal cliff. What are the implications of this sea-change? Carey Olsen, which advises on the largest total number of funds and assets under management in Guernsey, believes there will be slow and steady growth in both fund creation and the breadth of investments they adopt. Corporate partner, Graham Hall, examines where this growth will come from and what innovations investors and private equity houses are employing to realise returns.

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