Category Archive: Op-Eds

China Bonds Update

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Big news today after the Occupy movement is officially over. (Bloomberg) — China will no longer require a minimum amount of operating funds to be transferred from a foreign bank’s parent to its… Continue reading

FOMC And The Morning After Pill Effects

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I was queuing for a list of stocks yesterday morning for a punt (those that I wrote about on Monday) and missed every single one of them as my broker tells me that… Continue reading

Equity Thursday : Wealth Destruction Butterflies

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Central bankers are coming out to reassure markets that lower oil prices are good and the markets are listening, ramping the S&P 500 to a new record close of 2074 last night. Meanwhile… Continue reading

Financial Vulnerabilities In Stability Part 2 – Sustained Growth in the Time of UMP

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To continue from part 1, I assume everyone has read the lengthy treatise that the MAS team painstakingly puts up each year. http://www.mas.gov.sg/~/media/resource/publications/fsr/FSR%202014.pdf It carries it usually cautionary tones that went unheeded last… Continue reading

Ad Hoc Commentary – CVA, DVA, FVA and sovereign debt crisis

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Ever since Lehman failed, counterparty credit risk became the main topic among regulators, legislators, academics, lawyers and accountants that are working on the banking sector. Now we have an alphabet soup of xVA… Continue reading

China’s internet bubble

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On a trip to Beijing two weeks ago, the first thing I hear about is internet financing – P2P, crowd financing etc. I listened to a few of these Alibaba-like companies telling me… Continue reading

China’s rate cut – killing many birds with one stone

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There is a lot happening in China these days – global expansion of RQFII country quotas – Australia and Canada are the latest recipient countries, the Hong Kong-Shanghai mutual market access (MMA), ramping… Continue reading

Ad Hoc Commentary – Putin to swat flies and trip tigers

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“Putin Said to Stun Advisers by Backing Corruption Crackdown” “…Putin chose the corruption crackdown policy over the other option presented by his economic team: the “mega-projects” program. That path would further enrich two… Continue reading

Ad Hoc Commentary – stay away from gold

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Last week, gold made a low at 1132, and had since been hovering just above 1150, a level that yours truly targeted many months ago based on mid-1970s drawdown: “…gold fell from 185… Continue reading

Ad Hoc Commentary – Republican captures senate, Yellen’s honeymoon inflection point

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Nearly a year ago, yours truly wrote: “…the impact of USD loan payback will dominate over the next two years. This will give Janet Yellen the honeymoon in the first two years of… Continue reading