Ramblings on The Sunset Industry, Bankers and Knowledge Workers

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Photograph courtesy of Ms Jeannie Tan, S.F.. A quick chat with some young bankers, on the other side of 20, who were fresh management trainees not too long ago, reminded me of the… Continue reading

Q4: More of the Same?

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Photo courtesy of Ms Eleanor W., Perth, W.A..   Three quarters into the year, let’s take stock of where we are in terms of performance across the different equity and credit asset classes… Continue reading

*** NEW ISSUE: JULIUS BAER GROUP SGD AT1 – IPG 6.00% AREA ***

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11 months after issuing their first SGD AT1, Julius Baer returns with a second one, with a similar structure to the one done last year. Issuer: Julius Baer Group Ltd Instrument: Reg S… Continue reading

Wake Me Up When September Ends – The Uncertain Days Ahead and Gold

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Some days you will wake up in the morning and feel like you have not a single care in the world and nothing you can possibly do about anyway in our global problems;… Continue reading

Ad Hoc Commentary – Is US-Russia going to war in Syria?

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For most of the year, the top 3 political concerns that were driving Mr Market were the upcoming elections: 1. US presidential elections (Nov 2016) 2. French presidential elections (May 2017) 3. German… Continue reading

SGD Monthly Snapshot : Wake Me Up When September Ends

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    Economic Data in September 2 Sep Aug PMI 49.8 vs 49.4 expected Aug Electronics Sector Index 50.2  vs 49.7 previous 5 Sep Aug Nikkei Singapore PMI 52.3 v 50.7 previous 7… Continue reading

FX Musings : Expecting An Unanimous MAS Monetary Policy Statement

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      A recalcitrant thought after this month’s Bank of Japan meeting and the FOMC, is why not just subcontract our central banking jobs to them for a while ? If the… Continue reading

Demystifying The Financial Anomaly – Shortage of USD And Basis Swaps

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    I have been perplexed reading about the USD shortages in the negative rate world because the DXY (USD) Index has not gained in the year which means there couldn’t be that… Continue reading

** CHINA CITIC BANK INTL – US$ PERPNC5 AT1 (REG S) – 4.625% AREA

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Yet another Chinese AT1 hits the market.  With response to last week’s Cinda AM Perp NC5 AT1 lukewarm, it will be interesting to see how investors take to this.  The new Cinda AT1… Continue reading

Investing in Austerity – Chasing Michelin Hawkers

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You do not need GDP numbers to talk to you to know that the economy is roughing it out just from the observation of the sore absence of birds-nest gold-flaked mooncakes in Change… Continue reading