Banking

No ‘competitive devaluation’ in China, The efficacy of macroprudential policies

Commentary: No ‘competitive devaluation’ in China

By Mark Sobel in Washington

When the Trump administration asserts that China steals intellectual property, violates foreign investor rights, engages in wholesale subsidisation of the economy, and raises questions about industrial policy pursuant to ‘Made in China 2025’, it stands on solid ground. Assertions about ‘competitive devaluations’ by China, however, do not stand up to scrutiny. The renminbi’s decline primarily reflects a strong US economy...

http://www.allaboutshipping.co.uk/2018/10/12/no-competitive-devaluation-in-china-the-efficacy-of-macroprudential-policies/

Daily Overview of Global Markets & the SEE Region (Friday, October 12, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Market sentiment towards risky assets improved today with major equity markets recovering part of Thursday’s hefty losses. Meanwhile, the 10-yr UST yield was 3bps higher on the day in spite of yesterday’s weaker than expected US inflation data for September. In FX markets, the EUR/USD continued its slow recovery and the GBP/USD was consolidating its recent gains on market optimism for an agreement in principle on the issue of the...

http://www.allaboutshipping.co.uk/2018/10/12/daily-overview-of-global-markets-the-see-region-friday-october-12-2018/

Brexit negotiations- The bumpy road to a withdrawal agreement (Friday, October 12, 2018)

The City of London

Global Economic & Market Outlook – Focus Notes (Friday, October 12, 2018)

Brexit negotiations- The bumpy road to a withdrawal agreement

Brexit negotiations- Where we currently stand

With just five and a half months before the planned Brexit date of 30 March 2019 and an agreement providing for the UK’s orderly exit from the European Union (EU) yet to be reached, EU/UK official talks on a withdrawal agreement in accordance with Article 50 of the EU Treaty, have gained pace. Not...

http://www.allaboutshipping.co.uk/2018/10/12/brexit-negotiations-the-bumpy-road-to-a-withdrawal-agreement-friday-october-12-2018/

Central banks’ balancing act, All eyes on Asia Bulletin

Commentary: Central banks’ balancing act

By Veerathai Santiprabhob in Bangkok

Independence is one of central banks’ most important attributes, but the way they exercise this has evolved. To navigate the impact of globalised financial conditions, central banks will need to revisit their policy frameworks. Business models, consumer demand and production processes must contend with changing demographics and widening inequality gaps. With the need to address structural transformation, central...

http://www.allaboutshipping.co.uk/2018/10/11/central-banks-balancing-act-all-eyes-on-asia-bulletin/

Absa Africa Financial Markets Index: Signs of progress amid regional economic weakness

Botswana, Kenya and Nigeria have moved up the Absa Africa Financial Markets Index, produced by OMFIF, and South Africa remains in top position, supported by strong financial market infrastructure and a robust legal framework.

However, South Africa’s macroeconomic performance has deteriorated over the past year. Notably, the country no longer tops the index across all six pillars as it did in 2017, having been overtaken by Kenya on ‘access to foreign exchange’ and by Nigeria in ‘market...

http://www.allaboutshipping.co.uk/2018/10/11/absa-africa-financial-markets-index-signs-of-progress-amid-regional-economic-weakness/

Daily Overview of Global Markets & the SEE Region (Thursday, October 11, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Focus today is on global equity markets’ performance after Wall Street’s sharp losses overnight fueled by a sharp drop in technology stocks, led to a generalised risk-off sentiment. Favoured by equity markets’ sell-off, core government bond markets gained with yields down across the curve. In FX markets, the USD was weaker across the board weighed down by US stock market’s lacklustre performance overnight. In the meantime, the CHF...

http://www.allaboutshipping.co.uk/2018/10/11/daily-overview-of-global-markets-the-see-region-thursday-october-11-2018/

ECB faces QE dilemma, Developing the UAE as a centre of green finance

Commentary: ECB faces QE dilemma

By Marchel Alexandrovich in London

While Italy continues to dominate the headlines, the European Central Bank is more interested in the big picture: the continuing economic recovery, building inflationary pressure, the end of quantitative easing and guiding interest rate expectations. As its bond-buying programme starts to wind down, the ECB is increasingly relying on the flow from QE reinvestments to make its presence felt in the markets. The uneven nature of...

http://www.allaboutshipping.co.uk/2018/10/10/ecb-faces-qe-dilemma-developing-the-uae-as-a-centre-of-green-finance/

Daily Overview of Global Markets & the SEE Region (Wednesday, October 10, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Italian government bonds remained under pressure early yesterday but market sentiment improved somewhat around lunchtime following Economy Minister Giovanni Tria’s pledge that he will do whatever is necessary to restore calm if market turbulence turns into a financial crisis. However, a number of risks lie ahead. In FX markets, the GBP was firmer across the board on press reports conveying that the EU and the UK have narrowed their...

http://www.allaboutshipping.co.uk/2018/10/10/daily-overview-of-global-markets-the-see-region-wednesday-october-10-2018/

Falling BDI@1,503 a concern?

John Faraclas

The BDI (Baltic Dry Index) lost 27 points since yesterday and if same goes below the 1,500 point-threshold it will be an issue. Geopolitics equalise the theatre of the absurd! John Faraclas’ brief report:

The Capes did it again; falling 81 points and going well below the 2,000 points threshold is a worrying issue but we are all used of this size’s volatility. At 1,961 the BCI is still “sustainable”…

Minor losses for the Panamaxes BPI now at 1,747 – minus two points..

Good to see the Su...

http://www.allaboutshipping.co.uk/2018/10/09/falling-bdi1503-a-concern/

+ More