Middle East bond market on for record-breaking year after Saudi $17.5bn deal October 20, 2016 The middle eastern bond market boom has captured the attention of investors around the world, according to one of the leading players behind Saudi Arabia’s record-breaking $17.5bn debt sale. Jean-Marc Mercier, global co-head of debt capital markets at HSBC who met over 300 potential investors as part of the Saudi deal, told City PM the [...]
Rollercoaster ride for euro as Draghi denies bond-buying speculation October 20, 2016 The euro leapt up and then crept down this afternoon in a mini-frenzy of trading as European Central Bank (ECB) President Mario Draghi failed to provide any clues about the outlook for Eurozone monetary policy. As the ECB held its negative interest rates and quantitative easing (QE) programme unchanged, Draghi said there was no talk of either extending, winding down or [...]
Before the bell: What you need to know before the US market open October 20, 2016 Markets are further backing a Clinton victory in the US presidential election next month after last night's final debate, while the European Central Bank is expected to keep policy on hold when it meets this afternoon. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing higher [...]
Brexit more benefit to US than Europe, says Deutsche Bank’s chief economist October 20, 2016 The US has more to gain from the EU taking a hard stance in the Brexit negotiations than the European capitals do, the chief economist of a major international bank has said today. Speaking at a British Bankers' Association (BBA) conference, David Folkerts-Landau, group chief economist and global head of research at Deutsche Bank, warned that, should other [...]
Sterling slips after shoppers scale back in September October 20, 2016 The pound has started the day nervously after new figures showed consumer spending is starting to slow and attention to turns to central banks in the Eurozone and the US. Sterling was down 0.2 per cent against the euro at €1.1175, and lost a touch of ground against the US dollar to stand at $1.2267. Retail [...]
Mexican peso jumps then fades as Trump fails to impress in US Presidential Election debate October 20, 2016 The currency markets have spoken and Hillary Clinton has been declared the winner of last night's US Presidential Election debate. After a feisty exchange which yet again saw the pair fail to shake hands and where name-calling, bickering and allegation-hurling were the order of the day, Republican Donald Trump failed to leave many marks on [...]
Have a free market solution to poverty? Then you could be £50,000 richer October 20, 2016 A top free market think tank has partnered with one of Britain’s most successful entrepreneurs to launch a nationwide competition in search of ways to reduce poverty. The “Breakthrough Prize” – launched today by The Institute of Economic Affairs and serial investor and multi-millionaire Richard Koch – is on the lookout for a single idea “that [...]
UN highlights £17bn potential of girls’ education October 20, 2016 Ensuring girls stay in school could boost the developing world economy by $21bn (£17bn) a year according to a new United Nations study. The UN’s Population Fund (UNFPA) called on governments to introduce policies which ensure they do not miss out on the potential economic boost from their rapidly expanding and young populations. UNFPA said young [...]
Wanted: A market breakthrough to solve poverty in rich countries October 20, 2016 What is the point of a free market system? It’s to lift people out of poverty, giving them a better life, richer in every way. By this test, free markets have been fantastically successful historically. But rich countries, from the UK and America to those in Europe, have done nothing much for the poor in [...]
Leavers and Remainers launch group to untangle Brexit’s mixed messages October 19, 2016 A new group uniting Bremainers and Brexiteers to create clear, neutral, evidence-based research on the issues stemming from the Referendum result launches today. The Financial Services Negotiation Forum, or FSNForum for short, has already earmarked equivalence, euro-clearing, access to talent and market liquidity as research priorities. Anthony Belchambers, chairman of the honorary advisory council of the FSNForum, told City [...]
