Markus Allenspach, head of Fixed Income Research at Swiss asset manager Julius Baer, commented the current bond market environment. He assessed current stress on financial markets resulted of opposing forces. “Actually, the tragic events in Nice and Turkey augur for investments in safe assets, in particular government bonds. At the same time, the news flow out […]
Spain’s Banco Madrid has filed for bankruptcy and had its funds suspended by local market authority CNMV following money laundering allegations against its owner Banca Privada d’Andorra (BPA). Earlier last week, the US Treasury filed charges against BPA claiming that it laundered money for international criminal gangs. The US Treasury said that BPA was an “easy […]
US Treasury yields at 2.0% cannot be justified unless a US recession is imminent. We were shocked when German 10 year yields fell below 1% in the course of August. Since then, bad news from the euro area has to some extent underwritten the market action. Yesterday, 10 year US Treasury yields briefly fell below […]
Recent activity in the Treasury market has been nothing short of mind-boggling. The 10-year yield had a 37 basis-point swing during 18-hours of trading late Tuesday through Wednesday, falling as low as 1.86% at one point Wednesday, its lowest since the initial stages of the 2013 taper tantrum that erupted that May. The volatility and […]
The US Department of the Treasury and US Internal Revenue Service have published proposed guidance for Foreign Financial Institutions as defined under the Foreign Account Tax Compliance Act (Fatca), and which are covered by Model 2 Intergovernmental Agreements (IGAs).
The US Internal Revenue Service has announced the signing of an Intergovernmental Agreement with Mexico for the implementation of Fatca.
Patrick Pearson, head of the European Commission unit that drafted Emir, says forex swaps and forwards must be exempt from clearing under Esma standards
The lack of clear asset-class-specific rules and implementation timelines for the European Market Infrastructure Regulation (EMIR) remains a major concern for market participants, despite a public hearing on draft technical standards.
The worst macro outcome is already reflected in the price of many securities, according to Stefan Keitel from Credit Suisse’s private banking arm.
AllianceBernstein explains the rationale behind its latest products focused on emerging markets and high yield corporate bonds.
Many investors are probably glad to see the back of 2011. Looking back, the predominant focus was of debts, defaults and deficits, says Stonehage’s Kim Hillier.
February and March will be crucial months for France, Italy, and Spain, says Groupama Asset Management, as the firm anticipates further sovereign, bank, and corporate downgrades in the Eurozone but calls for investors to hold their nerve amid the turmoil.