SGDMYR 15 YEAR HIGH
Taken from our post last week What is Happening In Global Flows.
Bearish MYR medium term – Deutsche Bank
“USD/MYR has significantly lagged the pullback in the rest of USD/Asia, with spot still trading near June highs. Importantly, this is also a long-standing resistance level from which spot has historically fast retraced lower. However, we believe conditions are ripe for a breakout in spot above this familiar range in the coming weeks.
There are five reasons to remain bearish on the ringgit;
* Malaysia has seen the biggest reduction in current account surplus anywhere in Asia
* Shopping abroad is pinching the BoP purse
* The similarities to AUD – in terms of bond market characteristics, leverage to China, and FX overvaluation – give reason to be cautious
* The real fallout from bond market vulnerability is still likely pending
* Policy makers could be cornered into allowing currency weakness”
Arab-Malaysian Bank founder gunned down in public
Coincidence I suppose. They say it was a mob hit.
What mob ?
Maybe he sold the wrong derivative to the wrong person.
I just watched Assault On Wallstreet. Creepy !