ASX Markets Overview, Australian Stock Exchange, stock markets today.#Stock #markets #today

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Stock markets today

Shares ended the week on a sour note but remained comfortably above the 6000-point threshold reached on Tuesday to hover around post-GFC highs.

Miners, energy stocks weigh on ASX

Stock markets today

The local sharemarket ended the week on a sour note but remained comfortably above the 6000-point threshold reached on Tuesday to hover around post-GFC highs.

Hasty rate hikes could trigger housing crash, UBS warns

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As property prices come off, but wages fail to grow, people are much more sensitive to interest rate hikes, says UBS.

Why Bitcoin’s bubble might not burst just yet

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With a rise in value from $US6000 to $US7000 in a mere 13 days, experts predict its ascent can’t last – but are they right?

[email protected]: ASX set to finish week on dour note

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The local sharemarket is tipped to open sharply lower as global markets retreated.

Why the ‘Trump trade’ is not all about him, one year on

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Despite the US president’s claims, there’s much more to the so-called ‘Trump trade’ than The Donald himself.

Banks, miners spearhead ASX push beyond 6000

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Shares extended this week’s push through the 6000 level on Thursday, with miners and banks leading the advance.

ASX-listed daigou business surges 25pc

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Investors have poured into Australia’s only listed daigou business, boosting the share price more than 25 per cent this week.





Markets – data, The Economist, financial markets today.#Financial #markets #today

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Stock Market – GTA 5 Wiki Guide, stock markets.#Stock #markets

Stock Market

The Stock Market in Grand Theft Auto V operates with the same goal as real life stock trading: Buy low and sell high in order to turn a profit. The value of stocks are affected by various things including story progress, in-game purchases and with some stocks, other players.

EditGTA Stock Market: Prime Directive

The single most important rule of the GTA 5 Stock Market is this: wait as long as possible to perform Franklin’s Assassination Missions, and invest as heavily as possible with all three characters when you do so.

No tricks, no fuss. Just wait. These Missions are sure-fire, vast Stock Market shifts hard-coded into the Story Mode. The more money you have to invest, the more money you can make on these dramatic and guaranteed market swings. You can easily double your investment more than once over this way.

Do note that the first Assassination Mission is mandatory in order to progress in the story. Invest all you have from all three characters and then save the rest of the missions for after you finish the story.

EditLCN Stock Market

The prices of LCN stocks are directly influenced by what the player does in single player Story Mode. During Franklin’s series of Assassination Missions, murdering the head of one company will enhance the stock value of a rival. For example, killing corrupt jury members for the Redwood trial increases the value of rival Debonaire’s stock.

EditHow Story Missions Affect Stocks

Throughout the game’s story, Lester will offer Franklin missions in which he’ll have to assassinate a target. These targets have a huge role to play in the company’s whose stocks are available to purchase, and their deaths will affect the value of their corresponding stock. Although Lester will often tell Franklin himself, this table clarifies which stock the player should invest in before or after killing their target.

These stocks will rise by a preset maximum percentage over the following 5-10 minutes, before swiftly dropping to less than half of that profit then slowly returning to normal. Keep a close eye close/reopen the trading pages to stay on top of the price, as if you miss it then try to reload the maximum percentage will be greatly reduced – you’ll be able to tell this has happened because it will remain at this capped value for far longer than expected, and it will be an even percentage (for example 25% after The Vice Assassination versus up to 50% pre-reload).

for a detailed guide on this see the Assassination_Investor page

EditStock Market Trends

Once all assassination missions are exhausted, making money on the stock market is still possible. This can be achieved by predicting trends. Graphs for individual stocks are provided during the purchase process. Before you purchase a stock, study the graph for any distinguishing repetition in patterns, as these can be quite easy to spot, especially for stocks that have a consistent up and down trough-patterned graph like pictured below.

Stock markets

Stocks like this are usually fairly easy to predict. Buy these types of stocks when near the bottom of the trough and try to sell them as close to the top of the trough as possible by visualizing the pattern of previous price movements on the graph. You can usually expect a return of 5-10% guaranteed by using this method. Be warned though, GTA stocks are short-term investments and are extremely volatile. For this reason you shouldn’t place all of your money in any one stock, because some will do better than others and some will inevtiably go into a sharp decline. Despite the risks, all stocks will eventually at least resurface so you can break even and dump the stock if you are unhappy with its general preformance. Certain singleplayer stocks seem to perform better than others from console to console, try and find out what those good performers might be. Additionally, check out the market movers on the front page of your exchange to see general positive trends, but be warned purchasing any stocks that are well into their climb as they will shortly fall sharply.

If the graph for your stock appears linear between increases, plateaus, and declines (like the graph pictured below) there still will be a discernable pattern to watch for; however, predicting the trend will not be as easy. Using the numeric values when purchasing the stock for the low and high share price might be better for stocks that are volatile in a linear fashion. Buy stocks when the current price is near the recorded low and sell them when near the recorded high.

Preferred ROI And Time Required:

Once your Return On Investment (ROI) reaches a satisfactory level and appears as if it will not expand much longer, it is advised to avoid losing the gain already made and free up much needed capital that can be utilized for additional trades by selling the stock. Much like in the card game of Black Jack where the target is a value of 21 for your cards, going over could “bust” a large hole in the already available ROI if your stock starts on a sharp decline. Time is money. Since the goal of most users appears to be making a series of short-term trades in rapid succession to make the most money possible, after an acceptable ROI is achieved the stock should be sold so investment capital is freed for further short-term investments that (hopefully) should yield an even better ROI with the additional investment capital from the profits of the past trade. An acceptable ROI for LCN stocks should be around 10% and for BAWSAQ stocks 25-40%, depending on individual user preference and personal time constraints on game play time. Acceptable ROI can be achieved via BAWSAQ usually in 3-6 hours depending on user activity levels. For BAWSAQ the weekends are prime times for making large ROIs. Acceptable ROI for LCN can be achieved after sleeping for 5-10 minutes in 5 sleep cycle increments in quick succession, assuming the particular stock invested in will go up and is not actually in a downward price trend. These paramaters should be evaluated by the individual user and adjusted to their personal needs. One example that falls within these paramaters is a trade that was made within four hours of initial purchase netting an ROI of over 33% and a profit of over $6,000,000.

Stock markets

Personal Observations Opinion On Trends (BAWSAQ):

It should be noted the BAWSAQ exchange marginally makes returns of 30% or higher on investment within 3-6 hours (not in-game hours) of first purchasing a stock on a significant upward trend. These returns tend to be two to ten times higher than those which are achievable on the LCN exchange in the same amount of time. In theory this is because online market participation is on the rise and has yet to reach its peak. If the laws of economics are considered in the algorithm that determines stock price, then stocks in upward trends ought to rise more rapidly and those in downward trends ought to fall more rapidly, in theory. This provides a unique opportunity to make millions in profit off trades before the market levels off and volatility becomes less of a factor. For every action there is definitely an equal and opposite reaction, however. The risk involved for online investments becomes equally as consequential as the potential gains. For users who understand entry level to intermmediate economics and closely follow their trades, I would recommend taking advantage of the current market volatility. It is my prediction this volatility will inevitably level off in one to three months as user activity declines (GTA V players start stacking their games on the book shelf as a relic of their achievements). Users who are really confused by the mechanics of the GTA V stock market and are just learning how to make trades should use the LCN exchange to avoid the volatility and risk that could cripple their investment capital unless they are not concerned with taking losses on their portfolio.

EditBAWSAQ Stock Market

The prices of BAWSAQ stocks are affected by the Grand Theft Auto V online community. For example, Ammu-Nation originally was a wise investment, likely due to the sheer number of people buying weapons and ammo in game, however it’s price has been in free fall since Friday 27th, likely due to a tail off in ammo and gun purchases and thereby causing many to offload stocks exacerbating the issue. HAL and PIS have been on the rise since about the same time, but have begun to slow a little (as of Monday 30th). These two stocks are likely on the rise because their value was so low during the previous week, which prompted many to invest heavily at low prices for maximum possible returns.

You may be able to get a small jump on the market by watching RockStar Games Social Club Site, the BAWSAQ market is available there and seems to be slightly ahead of the in-game market.

Social Club member conduct in single-player modes appears to have discernible effect on overall market performance.

The Grand Theft Auto online markets for Xbox 360 and PS3 Communities operate separately and fluctuate independently.





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Hickam AFB passenger terminal has two overhead flat screen monitors, your sun clock and their arrival/departure. I was stranded there for two days and was in awe at the accuaracy of your site. I retrived your site now to plan communications with contacts in Japan. I Thank You!

I am a travel specialist of Expedia and I always pull this site up for time references. The site for sure is really helpful to all sorts. I often let my mates use this site when working. Gotta use this site again.

At one glance I had my answer. I’m receiving webinar times (time to attend the class). I couldn’t understand and workout the time. Thank you. At a quick glance I have my answer and need not be absent at any webinar. Hooray!

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Stocks, Financial News, and Investing, By Stock Markets Channel, stock markets.#Stock #markets

stock markets

Stock markets

The general perception that making money and ethical investment are mutually exclusive concepts has become outdated as many publicly traded companies take into account the expectations of increasingly ethical consumers and investors. Also, with investors being more aware of the need for transparency, companies are unlikely to get away with ‘greenwashing’ their products, services and strategies. Investors are in the position to influence companies to find ways to make money while doing what is best for the environment and society, and many are tapping into this advantage.

Ethical investment has two main components – avoiding unethical investments, and choosing positive ethical investments. If enough investors start avoiding companies that pursue profits at the expense of the environment and society, these companies will be obliged to rethink their business strategies. With the advances in technology and the power of social media, investors can find out everything they need to know about a company before making an investment. Ethical investors who choose to invest in

Stock markets

NASAA: Protecting Main Street Investors – 16 Oct 2014 – Features

With its membership consisting of 67 administrators from United States territories, districts and states, as well as from the provinces of Canada and Mexico, the North American Securities Administrators Association (NASAA) has as its main aim the protection of consumers who purchase investment advice and/or securities. To this end, the NASAA has jurisdiction over a wide range of intermediaries and issuers offering securities to members of the public. The Association also facilitates information sharing and multi-state enforcement actions for the state securities agencies it represents, and arranges training and education programs and seminars for securities agency staff at state, district and provincial level. The Uniform Securities Agent State Law Exam, referred to as ‘Series 63’, required as a qualification for securities agents in most states, was formulated by the NASAA and is administered by the Financial Industry Regulatory Authority (FINRA).

Stock markets

Ethical Investing and Shareholder Activism – 18 Sep 2014 – Markets

A growing number of investors are building investment portfolios that include companies considered to be ethical – in their products, services, carbon footprint, social responsibility and other criteria relating to environmental, social and corporate governance (ESG) . While it’s clear that the whole point of investing is to make money, there is a group of investors who believe that there is money to be made while sticking to their principles. Moreover, with the increased demand for transparency in publicly traded companies, dodgy dealings are difficult to get away with and can result in billions of dollars in litigation and payouts that inevitably have an impact on shareholders. ..

Stock markets

Ponzi Schemes Remain a Threat to Investors – 4 Sep 2014 – News

Hi-yield investment and Ponzi schemes remain among the top threats to investors and small business owners according to a list compiled by security regulators in the North American Securities Administrators Association (NASAA). Despite the name-and-shame publicity given to various scammers, investors continue to be drawn in by promises of high rates of returns, giving scam artists the opportunity to fleece investors.





FINANCIAL SENSE, Applying Common Sense to the Markets, financial markets today.#Financial #markets

Financial Sense

Financial markets today

Nov 11 – Another week and another version of the GOP tax plan, this time coming from the Senate. In the first part of today’s Big Picture podcast, Financial Sense Newshour covers the key differences between the House and Senate.

Frank Barbera on Possible Market Top; Robert Rapier: “Fear Cycle” Returning to Oil Market

Financial markets today

Nov 11 – After this week’s market wrap-up with FS Insider’s Cris Sheridan, Frank Barbera at Salem Partners says we are seeing a possible short-term top in the stock market. Next, Robert Rapier at R-Squared Energy explains why we are.

Russell Napier on Debt Deflation: Too Much Debt, Not Enough Money

Financial markets today

Nov 10 – Russell Napier, author of the Anatomy of the Bear and co-Founder of the Electronic Research Interchange (ERIC), explains the troubling rise of global debt levels, where it is largely concentrated, and how a major devaluation.

Inflation Spike at Current Valuations Could Be Ugly, Says Nevins

Financial markets today

Nov 9 – Daniel Nevins, the author of the must-read book Economics for Independent Thinkers and the Founder of Nevins Research, discusses the substitution story surrounding Fed monetary policy and how inflation spikes are a key factor.

Bull Run in Stocks to Continue But Bitcoin Setting Up for Major Drop, Says Avi Gilburt

Financial markets today

Nov 8 – Well-known market forecaster Avi Gilburt of Elliottwavetrader.net discusses the mathematical nature of market psychology with FS Insider and also offers an update on his outlook for the US stock market, gold, the energy.

Curb Your Enthusiasm! Why It s Time to Reset Expectations

Financial markets today

By Chris Puplava – We currently face a situation in which both the near-term outlook (1-3 years using ISM and Consumer Confidence data) and the long-term outlook (based on valuations) look dismal for the stock market. This clearly argues.

Financial markets today

By Tom McClellan – The InterContinental Exchange (ICE) has just rolled out a new futures contract called the NYSE FANG+™, based on the original four FANG stocks (Facebook, Amazon, Netflix, and Google) plus 6 others.

Financial markets today

By Michael Shedlock – Through the third quarter, 6,752 locations were scheduled to shutter in the US according to the International Council of Shopping Centers. That’s more than double the 2016 total and is close to surpassing.

Financial markets today

By ValueWalk – According to data from the Federal Reserve, US consumer credit grew by 5.5% annualized during Q3 the fastest quarterly pace this year. Credit now tops $1 trillion after a multi-year splurge by consumers.

Financial markets today

By Urban Carmel – The macro data from the past month continues to mostly point to positive growth. On balance, the evidence suggests the imminent onset of a recession is unlikely. The bond market agrees with the macro data.

Financial markets today

By Guild Danaher – 2017 has been a year for the big, dominant U.S. technology companies: the advertising duopoly of Alphabet [NASDAQ: GOOG] and Facebook [NASDAQ: FB]; the e-commerce juggernaut of Amazon.

Financial markets today

By FS Staff – Well-known mining geologist Keith Barron, Chairman and CEO of Aurania Resources, tells Financial Sense Newshour that with the average goldmine worldwide extracting gold below 1 gram per ton, peak gold is probably here and that, unlike oil, there isn’t.

Financial markets today

By Global Risk Insights – Just two weeks ago, the Future Investment Initiative summit in Riyadh took place to international acclaim. Now, investor interest has turned to intense uncertainty, as Crown Prince Mohammed bin.

Financial markets today

By Danielle Park – As Canadian household debt hit an all-time high in 2017 (see chart), a new study by TD Bank finds that 97% of Canadian homebuyers say they wish they’d factored in their other financial obligations when.

Financial markets today

By OilPrice – Google’s self-driving car project, Waymo, has become the first to launch completely autonomous cars, free of humans behind the wheel, on the road. Waymo’s CEO, John Krafcik said yesterday at a conference in Portugal that the company.

Financial markets today

FS Staff – At this year’s Investment Strategy Conference, we explained the increasing risks we see facing the stock market as valuations push into record territory, what this implies for future expected returns in various asset classes, our view on monetary and.





Stocks, Financial News, and Investing, By Stock Markets Channel, stock markets.#Stock #markets

stock markets

Stock markets

The general perception that making money and ethical investment are mutually exclusive concepts has become outdated as many publicly traded companies take into account the expectations of increasingly ethical consumers and investors. Also, with investors being more aware of the need for transparency, companies are unlikely to get away with ‘greenwashing’ their products, services and strategies. Investors are in the position to influence companies to find ways to make money while doing what is best for the environment and society, and many are tapping into this advantage.

Ethical investment has two main components – avoiding unethical investments, and choosing positive ethical investments. If enough investors start avoiding companies that pursue profits at the expense of the environment and society, these companies will be obliged to rethink their business strategies. With the advances in technology and the power of social media, investors can find out everything they need to know about a company before making an investment. Ethical investors who choose to invest in

Stock markets

NASAA: Protecting Main Street Investors – 16 Oct 2014 – Features

With its membership consisting of 67 administrators from United States territories, districts and states, as well as from the provinces of Canada and Mexico, the North American Securities Administrators Association (NASAA) has as its main aim the protection of consumers who purchase investment advice and/or securities. To this end, the NASAA has jurisdiction over a wide range of intermediaries and issuers offering securities to members of the public. The Association also facilitates information sharing and multi-state enforcement actions for the state securities agencies it represents, and arranges training and education programs and seminars for securities agency staff at state, district and provincial level. The Uniform Securities Agent State Law Exam, referred to as ‘Series 63’, required as a qualification for securities agents in most states, was formulated by the NASAA and is administered by the Financial Industry Regulatory Authority (FINRA).

Stock markets

Ethical Investing and Shareholder Activism – 18 Sep 2014 – Markets

A growing number of investors are building investment portfolios that include companies considered to be ethical – in their products, services, carbon footprint, social responsibility and other criteria relating to environmental, social and corporate governance (ESG) . While it’s clear that the whole point of investing is to make money, there is a group of investors who believe that there is money to be made while sticking to their principles. Moreover, with the increased demand for transparency in publicly traded companies, dodgy dealings are difficult to get away with and can result in billions of dollars in litigation and payouts that inevitably have an impact on shareholders. ..

Stock markets

Ponzi Schemes Remain a Threat to Investors – 4 Sep 2014 – News

Hi-yield investment and Ponzi schemes remain among the top threats to investors and small business owners according to a list compiled by security regulators in the North American Securities Administrators Association (NASAA). Despite the name-and-shame publicity given to various scammers, investors continue to be drawn in by promises of high rates of returns, giving scam artists the opportunity to fleece investors.





Stock Markets – Home, stock markets.#Stock #markets

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Today s Stock Market News and Analysis, financial markets today.#Financial #markets #today

Today’s Stock Market News Analysis

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Macy’s (M) and JC Penney (JCP) Beat Expectations

Does that make either a buy?

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Today s Stock Market News and Analysis, stock markets today.#Stock #markets #today

Today’s Stock Market News Analysis

Stock markets today

Macy’s (M) and JC Penney (JCP) Beat Expectations

Does that make either a buy?

Latest News Videos

Stock markets today

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Stock Market Today

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Stocks to Watch

Valeant Pharma: Why This Bear Still Growls

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Latest Articles by Martin Tillier

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Martin Tiller’s new must-read column on the markets

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Bond Market’s Big Illusion Revealed as U #business #investment

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Bond Market’s Big Illusion Revealed as U.S. Yields Turn Negative

For Kaoru Sekiai, getting steady returns for his pension clients in Japan used to be simple: buy U.S. Treasuries.

Compared with his low-risk options at home, like Japanese government bonds, Treasuries have long offered the highest yields around. And that’s been the case even after accounting for the cost to hedge against the dollar’s ups and downs — a common practice for institutions that invest internationally.

It’s been a “no-brainer since forever,” said Sekiai, a money manager at Tokyo-based DIAM Co. which oversees about $166 billion.

That truism is now a thing of the past. Last month, yields on U.S. 10-year notes turned negative for Japanese buyers who pay to eliminate currency fluctuations from their returns, something that hasn’t happened since the financial crisis. It’s even worse for euro-based investors, who are locking in sub-zero returns on Treasuries for the first time in history.

For a detailed description of how this index was created, click here.

For an analysis of hedging costs for Japanese investors, click here.

That quirk means the longstanding notion of the U.S. as a respite from negative yields in Japan and Europe is little more than an illusion. With everyone from Jeffrey Gundlach to Bill Gross warning of a bubble in bonds, it could ultimately upend the record foreign demand for Treasuries, which has underpinned their seemingly unstoppable gains in recent years.

“People like a simple narrative,” said Jeffrey Rosenberg, the chief investment strategist for fixed income at BlackRock Inc. which oversees $4.6 trillion. “But there isn’t a free lunch. You can’t simply talk about yield differentials without talking about currency differentials.”

DIAM’s Sekiai has been shunning Treasuries since April, a month after foreign holdings of U.S. debt hit a record. Instead, he favors bonds of France and Italy because they “offer some degree of yield and the currency-hedging costs are cheap.” That shift lines up with the latest available Treasury Department data, which showed that demand from non-U.S. investors in April and May was the weakest in a two-month stretch since 2013.

The fact that yields on 10-year Treasuries are still way higher than those in Japan or Germany is part of the reason foreigners are having such a hard time actually profiting from the difference. Negative interest rates outside the U.S. have caused a surge in demand for dollars and dollar assets, pushing up the cost to get into and out of the greenback at the same exchange rate to levels rarely seen in the past.

Ten-year yields in the U.S. are currently about 0.23 percentage point below a basket of bonds from Australia, France, Germany, Italy, Japan, Spain and Switzerland on a hedged basis, versus 1.4 percentage points above on an unhedged basis, according to data compiled by BlackRock. At the start of the year, hedged Treasuries yielded over a half-percentage point more.

In Japan, where 10-year government bonds yield less than zero, the advantage for Treasuries has dwindled from a percentage point at the start of the year to less than 0.1 percentage point now. Without much added value for overseas investors, it’s harder to see foreign demand driving Treasuries to new records, especially as the Federal Reserve moves toward gradually raising rates.

Since falling to a record 1.318 percent on July 6, yields on 10-year notes have backed up as a string of economic reports such as last week’s jobs data bolstered the case for higher rates. They were at 1.58 percent today.

For a large swathe of institutional investors, especially those with conservative mandates, hedging is the norm when they go abroad. It eliminates the need to worry about the daily ebbs and flows in exchange rates and how that might affect their returns. When it comes to Treasuries, overseas buyers usually lock in a fixed exchange rate on the interest payments they get in dollars.

Conversion Costs

In that trade, the cost to convert payments from one currency to another is determined by the cross-currency basis swap. Take Japanese insurers as an example. Under normal circumstances, they would swap their yen for dollars and get interest on the yen they loaned out over the course of the contract.

But now, because the rate has turned negative, they’re effectively paying interest to lend the yen, which eats into their bond returns. That’s on top of the Libor rate they’ll need to pay for borrowing the dollars, which currently stands at 0.79 percent over three months.

The basis, as it’s known, was at minus 0.6425 percentage point for yen-based investors, which is close to the most expensive in five years. For those with euros, the basis is minus 0.43 percentage point. That’s more than twice as costly as the average over the past three years.

In a perfectly efficient market, none of this would matter. Differences in interest rates would be perfectly offset by the cost of exchanging two different currencies over time. But in the real world, things are far messier.

As unconventional monetary policies in Japan and Europe pushed yields lower and lower in recent years, demand for dollars has soared in tandem with the currency’s appreciation. Banks responded by demanding stiffer terms to swap into dollars as supply diminished, cutting into profits on the “carry trade” in Treasuries.

Treasuries will remain a better alternative for many overseas investors as long as an advantage exists, no matter how small the hedged yield pickup has become, according to Ralph Axel, a bond analyst at Bank of America Corp.

“They’ll just keep buying,” Axel said. Because of forces like negative rates and quantitative easing outside the U.S. “you clearly have a long-lasting bid.”

Of course, there’s the flip side. The overwhelming demand for U.S. currency is proving to be a boon for American investors and foreign central banks sitting on billions of dollars. Pacific Investment Management Co. also says there’s profit to be made by getting paid to swap dollars into yen.

Interest-Rate Swaps

Overseas money managers, though, have had to turn to more novel solutions to avoid the onerous hedging costs. Jack Loudoun, who helps oversee about $88 billion for Vontobel Asset Management in Zurich, says he prefers interest-rate swaps and futures on Treasuries to get exposure to the U.S. market because lower upfront costs help reduce foreign-exchange risk.

“We’re using derivatives to get access,” he said. “If you’re worried about hedging cost, swaps and futures are the avenues to go down.”

Whatever the strategy, there’s little debate over how important foreign demand is for the $13.4 trillion market for Treasuries.

“We’re at a point now where investors have to start thinking about this,” said Sachin Gupta, a foreign-bond fund manager at Pimco, which oversees $1.51 trillion. “As the cost of hedging rises to such an extent, there’s no extra carry to be had. That itself will slow down the demand — and, at some point, even reverse the demand — for Treasuries.”

Before it’s here, it’s on the Bloomberg Terminal. LEARN MORE





RT – News – Business, Finance, Economy, Markets, Stocks Shares #business

#business news

#

02 Sep Exchequer returns for August show a significant fall in revenues collected during the month.

02 Sep US employment growth slowed more than expected in August after two straight months of robust gains and wage gains moderated.

02 Sep Tech giant Samsung has said it is suspending sales of its latest flagship smartphone Galaxy Note 7, as reports of exploding batteries threaten to damage the reputation of the South Korean electronics giant.

02 Sep Telecoms firm Eir has recorded its first year of annual revenue growth since 2008.

02 Sep Minister for Finance Michael Noonan has claimed that the EU Commission’s ruling over Apple’s tax operations in Ireland was an “attack on our corporate tax regime”.

02 Sep Heavy machinery maker Caterpillar has said it could lay off about 2,000 employees at a plant in Belgium, as it considers shifting production to other facilities as part of a restructuring programme announced last year.

02 Sep Irish Residential Properties REIT, or I-RES, is seeking planning permission for 492 apartments as well as retail space in Sandyford in Dublin.

02 Sep Peer-to-peer lending platform Linked Finance says 21 SMEs raised €600,000 in funding during the first two weeks of its new fixed rate loan offering.

02 Sep Activity in the services sector rose by 0.5% between June and July, with wholesale and retail trade seeing a 6.1% surge during the month.

02 Sep Currency movements have hit Fyffes’ banana business, according to the company’s first half results.

02 Sep Crude prices have risen today after losses of more than 3% yesterday, with investors treading cautiously ahead of key US employment data.

02 Sep RTÉ’s Europe Editor Tony Connelly looks at the Apple ruling and the possible impact of a similar case involving Spanish bank Santander.

02 Sep The Irish Times reports telecom firms have hit out at Eir for raising wholesale broadband prices for the second time in 14 months.

02 Sep Telecoms firm Eir has recorded its first year of annual revenue growth since 2008.

01 Sep Up to 250 jobs could go at US multinational Caterpillar’s plants in Northern Ireland, a spokesman has said.

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Grafton Chief Executive Gavin Slark discusses the builders’ merchant and DIY retailer’s double-digit growth in percentage terms in revenue and profit in H1

Bord Gáís Energy Managing Director Dave Kirwan said the firm is reducing its residential electricity prices by 5% and its residential gas prices by 2%

Just Eat Managing Director for Ireland Amanda Roche Kelly discusses the brand’s presence at the upcoming Electric Picnic festival





What Are the Best International Bond Markets? #business #etiquette

#bond market news

#

What Are the Best International Bond Markets?

What Are the Best International Bond Markets?

With low interest rates in the U.S. and outright negative rates in some overseas markets, the bond market probably isn’t the first thing to come to mind when investors are looking for yield.

But experts are pointing to some niches of the international bond arena that are yielding well above what can be had domestically, albeit with more risk.

Both high-quality and lower-quality bonds have been performing well in terms of price. High-quality developed market bonds have rallied with demand from risk-averse investors, such as those worried about Britain voting to leave the European Union .

But of course as bond prices rise, their yields decline. So, needing to make money, investors have also been turning to lower-quality emerging market bonds. That also drives their price up, but these bonds simply yield more because they are riskier.

It can be tempting to stay within the U.S. in terms of bonds, says Richard Lawrence, senior vice president of portfolio management at Brandywine Global Investment Management, which is a subadvisor for the Legg Mason BW Global Opportunities Bond Fund (ticker: GOBIX ). But that would be eschewing higher yields in emerging markets and some developed world bonds.

“You have to look beyond the headlines,” he says.

Emerging markets can be a good place to look for yield, but that’s because they are associated with certain risks, says Eric Stein, co-director of global income at Eaton Vance Management, which has the Global Macro Absolute Return Fund (EIGMX ), the Emerging Markets Local Income Fund (EEIAX ) and the Emerging Markets Debt Opportunities Fund (EIDOX ). The three main risks for foreign bonds are currency, interest rates and default, he says.

International bonds also move in step with the Federal Reserve and U.S. Treasurys. If the Fed raises rates, that would cause bond yields elsewhere to rise, meaning their value would fall in the short term. This would only create a headwind for international bonds if the Fed raises rates more than expected and Treasurys sell off, Stein says.

If U.S. rates rise more quickly than expected, this could strengthen the U.S. dollar and cause some emerging market currencies to weaken.

Demand from China is also a risk as many emerging market countries are commodities producers and China is a large consumer, he says. A sell off in the Chinese currency can also send shockwaves through global risk markets, he says.

Oil prices are also a risk, since many emerging market countries are oil exporters, he says.

With the top five global bond issuers – the U.S. France, Germany, the United Kingdom and Japan – all yielding low or negative rates, emerging market countries are “last bastions of yield,” says Meb Faber, a co-founder and chief investment officer of Cambria Investment Management.

Rising interest rates in the U.S. would lead to higher rates elsewhere. So in the short term, that would cause international bond prices to decline and their yield to go up, Faber says.

Whether international bonds will face a strong headwind as the Fed raises rates depends on how the market reacts to the pace of the hikes, Lawrence says.

A strong dollar acts as a headwind for investors in international bonds unless they hedge that currency exposure, he says, but this year, declines in the U.S. dollar have made it more sensible to buy securities denominated in other currencies.

Stein thinks the Fed will raise rates a little more than expected over the next two years, providing a slight headwind to some emerging market currencies.

For those looking for yield, Lawrence points to Brazil, where the 10-year bond is yielding around 12 percent. He also likes Mexico because of its correlation with the slowly improving U.S. economy and its Treasury market but much higher yield. South Africa is also attractive, with its 10-year bonds yielding about 9 percent and a slowly improving fiscal picture.

Both Lawrence and Stein point to Indonesia because of its reform agenda.

They also cite New Zealand as a niche of the developed world economies where investors can get higher yields without taking a lot of credit risk. However, Stein is bearish on the New Zealand dollar.





Small Business Finance Markets Report 2015 #www.business.com

#small business finance

#

Small Business Finance Markets Report 2015/16

The Small Business Finance Markets Report 2015/16 shows that the market for small business finance is improving, however a number of challenges remain:

  • A lack of businesses scaling-up is hampering UK productivity – there remains a need to stimulate a greater volume of scale-up businesses and SME exporters to counteract the UK’s lagging productivity. OECD data shows that Britain is near the bottom of the table for the percentage of businesses that grow to more than 10 employees after three years.
  • A need to delivery further diversity in the small business finance market – there is an ongoing need to accelerate the evolution of a diverse and accessible range of finance options to drive competition and choice for smaller businesses. The four largest banks still account for 80% of the small business loan market in 2014, with many small businesses not looking at alternative finance options beyond their main bank.
  • Supporting growing SMEs across all UK regions – the finance landscape remains uneven across the UK. To help rebalance growth, an increased availability of finance for smaller businesses across the UK is required. 71% of total SME equity investment is accounted for by London and South East based companies.

DOWNLOADS

2015 Business Finance Survey: SMEs

This survey, undertaken by BMG Research for the British Business Bank, follows on from the previous 2012 and 2014 “SME Journey” surveys to explore SME awareness of different types of external finance and their experience of raising finance. We have extensively used the findings from this survey within our new Small Business Finance Markets 2015/16 report to assess how finance markets have changed.

Amongst the findings, this survey shows a continued increase in business awareness of alternative finance types, including peer-to-peer lending and crowdfunding. The research also shows that a higher proportion of SMEs are aiming to grow in the next 12 months (56%), compared to 46% in the previous 2014 survey.

2015 Business Finance Survey: Mid-caps

This survey, undertaken by BMG Research for the British Business Bank, assesses the characteristics of mid-caps (businesses with £25m-£500m annual turnover) and their experience of raising external finance. The survey finds that mid-cap businesses are more likely to use and seek external finance compared to SMEs, and are also more likely to obtain finance. In addition, a high proportion of mid-cap businesses (79%) are aiming to grow in the next 12 months.

Methodology Consultation: Assessing the Unmet Demand for SME debt finance

The British Business Bank would like to consult with interested stakeholders on appropriate methodologies for assessing the unmet demand for SME debt finance. The consultation seeks views on our proposed methodology and suggestions for alternative methodologies or additional data sources.





Small Business Finance Markets Report 2015 #magnetic #business #cards

#small business finance

#

Small Business Finance Markets Report 2015/16

The Small Business Finance Markets Report 2015/16 shows that the market for small business finance is improving, however a number of challenges remain:

  • A lack of businesses scaling-up is hampering UK productivity – there remains a need to stimulate a greater volume of scale-up businesses and SME exporters to counteract the UK’s lagging productivity. OECD data shows that Britain is near the bottom of the table for the percentage of businesses that grow to more than 10 employees after three years.
  • A need to delivery further diversity in the small business finance market – there is an ongoing need to accelerate the evolution of a diverse and accessible range of finance options to drive competition and choice for smaller businesses. The four largest banks still account for 80% of the small business loan market in 2014, with many small businesses not looking at alternative finance options beyond their main bank.
  • Supporting growing SMEs across all UK regions – the finance landscape remains uneven across the UK. To help rebalance growth, an increased availability of finance for smaller businesses across the UK is required. 71% of total SME equity investment is accounted for by London and South East based companies.

DOWNLOADS

2015 Business Finance Survey: SMEs

This survey, undertaken by BMG Research for the British Business Bank, follows on from the previous 2012 and 2014 “SME Journey” surveys to explore SME awareness of different types of external finance and their experience of raising finance. We have extensively used the findings from this survey within our new Small Business Finance Markets 2015/16 report to assess how finance markets have changed.

Amongst the findings, this survey shows a continued increase in business awareness of alternative finance types, including peer-to-peer lending and crowdfunding. The research also shows that a higher proportion of SMEs are aiming to grow in the next 12 months (56%), compared to 46% in the previous 2014 survey.

2015 Business Finance Survey: Mid-caps

This survey, undertaken by BMG Research for the British Business Bank, assesses the characteristics of mid-caps (businesses with £25m-£500m annual turnover) and their experience of raising external finance. The survey finds that mid-cap businesses are more likely to use and seek external finance compared to SMEs, and are also more likely to obtain finance. In addition, a high proportion of mid-cap businesses (79%) are aiming to grow in the next 12 months.

Methodology Consultation: Assessing the Unmet Demand for SME debt finance

The British Business Bank would like to consult with interested stakeholders on appropriate methodologies for assessing the unmet demand for SME debt finance. The consultation seeks views on our proposed methodology and suggestions for alternative methodologies or additional data sources.





Templeton Emerging Markets Income Fund (NYSE: TEI) Institutional Investor Sentiment Is #templeton


#

Templeton Emerging Markets Income Fund (NYSE:TEI) Institutional Investor Sentiment Is 0.93

July 5, 2017 – By Winifred Garcia

Sentiment for Templeton Emerging Markets Income Fund (NYSE:TEI)

Templeton Emerging Markets Income Fund (NYSE:TEI) institutional sentiment decreased to 0.93 in 2016 Q4. Its down -0.18, from 1.11 in 2016Q3. The ratio has worsened, as 27 institutional investors started new or increased stock positions, while 29 decreased and sold their equity positions in Templeton Emerging Markets Income Fund. The institutional investors in our partner s database now have: 8.55 million shares, up from 7.85 million shares in 2016Q3. Also, the number of institutional investors holding Templeton Emerging Markets Income Fund in their top 10 stock positions was flat from 2 to 2 for the same number. Sold All: 9 Reduced: 20 Increased: 16 New Position: 11.

Templeton Emerging Markets Income Fund is a non-diversified, closed-ended management investment company. The company has market cap of $535.19 million. The Fund seeks high, current income, with a secondary goal of capital appreciation, by investing, under normal market conditions, at least 80% of its net assets in income-producing securities of sovereign or sovereign-related entities and private sector companies in emerging market countries. It currently has negative earnings. It invests in bonds from emerging markets around the world to generate income for the Fund, seeking opportunities while monitoring changes in interest rates, currency exchange rates and credit risk.

It is up 10.99% since July 5, 2016 and is uptrending. It has underperformed by 5.71% the S P500.

Integrated Wealth Counsel Llc holds 11.68% of its portfolio in Templeton Emerging Markets Income Fund for 497,867 shares. Trust Asset Management Llc owns 1.47 million shares or 7.79% of their US portfolio. Moreover, New Century Advisors Llc has 2.54% invested in the company for 176,616 shares. The Pennsylvania-based Penn Mutual Life Insurance Co has invested 1.71% in the stock. Rivernorth Capital Management Llc, a Illinois-based fund reported 1.49 million shares.#img1#

More notable recent Templeton Emerging Markets Income Fund (NYSE:TEI) news were published by: Seekingalpha.com which released: GIM: A Cheap Global Income Fund With Experienced Managers on August 04, 2016, also Seekingalpha.com with their article: High Yield Investing: 3 Emerging Markets Debt CEFs- Yields Up To 12% published on August 16, 2016, Forbes.com published: These Funds Pay A 7% Yield While Beating The S P 500 on May 24, 2017. More interesting news about Templeton Emerging Markets Income Fund (NYSE:TEI) were released by: Globenewswire.com and their article: Templeton Emerging Markets Income Fund (“TEI”) Announces Distribution and published on June 15, 2017 as well as Seekingalpha.com s news article titled: Investing In A Low Growth, High Debt World with publication date: October 14, 2016.

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What Are the Best International Bond Markets? #sba #business #loan

#bond market news

#

What Are the Best International Bond Markets?

What Are the Best International Bond Markets?

With low interest rates in the U.S. and outright negative rates in some overseas markets, the bond market probably isn’t the first thing to come to mind when investors are looking for yield.

But experts are pointing to some niches of the international bond arena that are yielding well above what can be had domestically, albeit with more risk.

Both high-quality and lower-quality bonds have been performing well in terms of price. High-quality developed market bonds have rallied with demand from risk-averse investors, such as those worried about Britain voting to leave the European Union .

But of course as bond prices rise, their yields decline. So, needing to make money, investors have also been turning to lower-quality emerging market bonds. That also drives their price up, but these bonds simply yield more because they are riskier.

It can be tempting to stay within the U.S. in terms of bonds, says Richard Lawrence, senior vice president of portfolio management at Brandywine Global Investment Management, which is a subadvisor for the Legg Mason BW Global Opportunities Bond Fund (ticker: GOBIX ). But that would be eschewing higher yields in emerging markets and some developed world bonds.

“You have to look beyond the headlines,” he says.

Emerging markets can be a good place to look for yield, but that’s because they are associated with certain risks, says Eric Stein, co-director of global income at Eaton Vance Management, which has the Global Macro Absolute Return Fund (EIGMX ), the Emerging Markets Local Income Fund (EEIAX ) and the Emerging Markets Debt Opportunities Fund (EIDOX ). The three main risks for foreign bonds are currency, interest rates and default, he says.

International bonds also move in step with the Federal Reserve and U.S. Treasurys. If the Fed raises rates, that would cause bond yields elsewhere to rise, meaning their value would fall in the short term. This would only create a headwind for international bonds if the Fed raises rates more than expected and Treasurys sell off, Stein says.

If U.S. rates rise more quickly than expected, this could strengthen the U.S. dollar and cause some emerging market currencies to weaken.

Demand from China is also a risk as many emerging market countries are commodities producers and China is a large consumer, he says. A sell off in the Chinese currency can also send shockwaves through global risk markets, he says.

Oil prices are also a risk, since many emerging market countries are oil exporters, he says.

With the top five global bond issuers – the U.S. France, Germany, the United Kingdom and Japan – all yielding low or negative rates, emerging market countries are “last bastions of yield,” says Meb Faber, a co-founder and chief investment officer of Cambria Investment Management.

Rising interest rates in the U.S. would lead to higher rates elsewhere. So in the short term, that would cause international bond prices to decline and their yield to go up, Faber says.

Whether international bonds will face a strong headwind as the Fed raises rates depends on how the market reacts to the pace of the hikes, Lawrence says.

A strong dollar acts as a headwind for investors in international bonds unless they hedge that currency exposure, he says, but this year, declines in the U.S. dollar have made it more sensible to buy securities denominated in other currencies.

Stein thinks the Fed will raise rates a little more than expected over the next two years, providing a slight headwind to some emerging market currencies.

For those looking for yield, Lawrence points to Brazil, where the 10-year bond is yielding around 12 percent. He also likes Mexico because of its correlation with the slowly improving U.S. economy and its Treasury market but much higher yield. South Africa is also attractive, with its 10-year bonds yielding about 9 percent and a slowly improving fiscal picture.

Both Lawrence and Stein point to Indonesia because of its reform agenda.

They also cite New Zealand as a niche of the developed world economies where investors can get higher yields without taking a lot of credit risk. However, Stein is bearish on the New Zealand dollar.





Markets Data Center Mobile – Company Data, Indexes, Stock Quotes – More

#stock market prices

#

Footnotes

Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. International stock quotes are delayed as per exchange requirements. Indexes may be real-time or delayed; refer to time stamps on index quote pages for information on any delays. Source: SIX Financial Information

Bonds: Bond quotes are updated in real-time. Source: Tullett Prebon.

Currencies: Currency quotes and charts are updated in real-time. Source: Tullett Prebon.

Commodities & Futures: Futures prices reflect electronic trading and are delayed 10 minutes. Futures quotes show contract month with the highest level of open interest, except crude oil, which always shows the “front month” contract (the contract that will expire soonest). Change value during the period between open outcry settle and the commencement of the next day’s trading is calculated as the difference between the last trade and the prior day’s settle. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Source: SIX Financial Information.

Data are provided ‘as is’ for informational purposes only and is not intended for trading purposes. SIX Financial Information (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Data may be intentionally delayed pursuant to supplier requirements.

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Small Business Finance Markets Report 2015 #business #logos

#small business finance

#

Small Business Finance Markets Report 2015/16

The Small Business Finance Markets Report 2015/16 shows that the market for small business finance is improving, however a number of challenges remain:

  • A lack of businesses scaling-up is hampering UK productivity – there remains a need to stimulate a greater volume of scale-up businesses and SME exporters to counteract the UK’s lagging productivity. OECD data shows that Britain is near the bottom of the table for the percentage of businesses that grow to more than 10 employees after three years.
  • A need to delivery further diversity in the small business finance market – there is an ongoing need to accelerate the evolution of a diverse and accessible range of finance options to drive competition and choice for smaller businesses. The four largest banks still account for 80% of the small business loan market in 2014, with many small businesses not looking at alternative finance options beyond their main bank.
  • Supporting growing SMEs across all UK regions – the finance landscape remains uneven across the UK. To help rebalance growth, an increased availability of finance for smaller businesses across the UK is required. 71% of total SME equity investment is accounted for by London and South East based companies.

DOWNLOADS

2015 Business Finance Survey: SMEs

This survey, undertaken by BMG Research for the British Business Bank, follows on from the previous 2012 and 2014 “SME Journey” surveys to explore SME awareness of different types of external finance and their experience of raising finance. We have extensively used the findings from this survey within our new Small Business Finance Markets 2015/16 report to assess how finance markets have changed.

Amongst the findings, this survey shows a continued increase in business awareness of alternative finance types, including peer-to-peer lending and crowdfunding. The research also shows that a higher proportion of SMEs are aiming to grow in the next 12 months (56%), compared to 46% in the previous 2014 survey.

2015 Business Finance Survey: Mid-caps

This survey, undertaken by BMG Research for the British Business Bank, assesses the characteristics of mid-caps (businesses with £25m-£500m annual turnover) and their experience of raising external finance. The survey finds that mid-cap businesses are more likely to use and seek external finance compared to SMEs, and are also more likely to obtain finance. In addition, a high proportion of mid-cap businesses (79%) are aiming to grow in the next 12 months.

Methodology Consultation: Assessing the Unmet Demand for SME debt finance

The British Business Bank would like to consult with interested stakeholders on appropriate methodologies for assessing the unmet demand for SME debt finance. The consultation seeks views on our proposed methodology and suggestions for alternative methodologies or additional data sources.





Harvard Business Law Review (HBLR) – The Harvard Business Law Review (HBLR)

#harvard business journal

#

This Article addresses mutual fund governance, explaining how it has recently become entangled with the norms and rules of corporate governance. At one level, it is understandable that the Securities and Exchange Commission (SEC) and courts have viewed mutual funds as a type of ordinary corporation. Both mutual funds and corporations are separate legal entities, having directors and shareholders. Directors of each are held to fiduciary duties, charged with serving shareholders’ interests, and expected to aspire to best practices. However, there are fundamental differences between mutual funds and ordinary corporations. This Article contends that these differences have important implications for governance, differences that should lead to the disentanglement of mutual fund governance from corporate governance.

We examine firm lifecycles of 3,081 IPOs from 1996–2012. We find that small IPOs have a different lifecycle than other, larger companies. Within five years of an IPO, only 55% of small capitalization companies remain listed on a public exchange, compared to 61% and 67% for middle and large capitalization companies, respectively. We examine various theories explaining the decline of the small IPO. We find only minor evidence that regulatory changes caused the decline of the small IPO. The decline appears instead to be more attributable to the historical unsuitability of small firms for the public market. Absent economic or market reforms that change small firm quality, further regulatory reforms to enhance the small IPO market are thus unlikely to be effective or bring firms into the public market that have the horsepower to remain publicly listed.

In Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congress instructed the Securities and Exchange Commission (SEC) to draft rules that would require public companies to report annually on whether their products contain certain Congolese minerals. This unprecedented legislation and the SEC rulemaking that followed have inspired an impassioned and ongoing debate between those who view these efforts as a costly misstep and those who view them as a measured response to human rights abuses committed by the armed groups that control many mines in the Democratic Republic of the Congo. This Article for the first time brings empirical evidence to bear on this controversy.

In 2008, the Securities and Exchange Commission made waves by deciding to regulate the nascent peer-to-peer lending industry. Only two lending platforms survived the SEC’s entry into a previously lightly-regulated market. Under this regulatory setup, the SEC would regulate the lending-investing process, while other agencies like the Consumer Financial Protection Bureau and Federal Trade Commission would regulate the borrower side of the business. This Article argues that the existing bifurcated system works and is continually getting better as the SEC amends existing exemptions and introduces new regulations to smooth the path for financial innovation.

Since 1977, with the enactment of the Foreign Corrupt Practices Act, the United States Department of Justice has played a leading role in applying the Act’s anti-bribery, books and records, and internal controls provisions in enforcement proceedings against numerous companies and individuals worldwide. In November 2015, the Department of Justice took the unprecedented step of hiring a Compliance Counsel to guide its prosecutors in decision-making in corporate prosecutions and in benchmarking corporate compliance. This Memorandum is composed as an open letter to the Compliance Counsel, focusing on how she and the Department of Justice should go about that critical benchmarking function.

Eric J. Chang’s provocative article, www.PayDayLoans.gov: A Solution for Restoring Price-Competition to Short-Term Credit Loans—which, as its title suggests, proposes to facilitate price competition in the payday lending market by creating a federal online exchange for payday lenders to post lending rates—has sparked thoughtful reactions among consumer borrowing experts. This Response provides constructive criticism to Chang’s proposal, arguing that such an exchange is unlikely to meet its goal of restoring price competition and offering tweaks that would raise the likelihood of doing so.





RT – News – Business, Finance, Economy, Markets, Stocks Shares #government

#business news

#

02 Sep Exchequer returns for August show a significant fall in revenues collected during the month.

02 Sep US employment growth slowed more than expected in August after two straight months of robust gains and wage gains moderated.

02 Sep Tech giant Samsung has said it is suspending sales of its latest flagship smartphone Galaxy Note 7, as reports of exploding batteries threaten to damage the reputation of the South Korean electronics giant.

02 Sep Telecoms firm Eir has recorded its first year of annual revenue growth since 2008.

02 Sep Minister for Finance Michael Noonan has claimed that the EU Commission’s ruling over Apple’s tax operations in Ireland was an “attack on our corporate tax regime”.

02 Sep Heavy machinery maker Caterpillar has said it could lay off about 2,000 employees at a plant in Belgium, as it considers shifting production to other facilities as part of a restructuring programme announced last year.

02 Sep Irish Residential Properties REIT, or I-RES, is seeking planning permission for 492 apartments as well as retail space in Sandyford in Dublin.

02 Sep Peer-to-peer lending platform Linked Finance says 21 SMEs raised €600,000 in funding during the first two weeks of its new fixed rate loan offering.

02 Sep Activity in the services sector rose by 0.5% between June and July, with wholesale and retail trade seeing a 6.1% surge during the month.

02 Sep Currency movements have hit Fyffes’ banana business, according to the company’s first half results.

02 Sep Crude prices have risen today after losses of more than 3% yesterday, with investors treading cautiously ahead of key US employment data.

02 Sep RTÉ’s Europe Editor Tony Connelly looks at the Apple ruling and the possible impact of a similar case involving Spanish bank Santander.

02 Sep The Irish Times reports telecom firms have hit out at Eir for raising wholesale broadband prices for the second time in 14 months.

02 Sep Telecoms firm Eir has recorded its first year of annual revenue growth since 2008.

01 Sep Up to 250 jobs could go at US multinational Caterpillar’s plants in Northern Ireland, a spokesman has said.

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Grafton Chief Executive Gavin Slark discusses the builders’ merchant and DIY retailer’s double-digit growth in percentage terms in revenue and profit in H1

Bord Gáís Energy Managing Director Dave Kirwan said the firm is reducing its residential electricity prices by 5% and its residential gas prices by 2%

Just Eat Managing Director for Ireland Amanda Roche Kelly discusses the brand’s presence at the upcoming Electric Picnic festival





What Are the Best International Bond Markets? #business #phone #system

#bond market news

#

What Are the Best International Bond Markets?

What Are the Best International Bond Markets?

With low interest rates in the U.S. and outright negative rates in some overseas markets, the bond market probably isn’t the first thing to come to mind when investors are looking for yield.

But experts are pointing to some niches of the international bond arena that are yielding well above what can be had domestically, albeit with more risk.

Both high-quality and lower-quality bonds have been performing well in terms of price. High-quality developed market bonds have rallied with demand from risk-averse investors, such as those worried about Britain voting to leave the European Union .

But of course as bond prices rise, their yields decline. So, needing to make money, investors have also been turning to lower-quality emerging market bonds. That also drives their price up, but these bonds simply yield more because they are riskier.

It can be tempting to stay within the U.S. in terms of bonds, says Richard Lawrence, senior vice president of portfolio management at Brandywine Global Investment Management, which is a subadvisor for the Legg Mason BW Global Opportunities Bond Fund (ticker: GOBIX ). But that would be eschewing higher yields in emerging markets and some developed world bonds.

“You have to look beyond the headlines,” he says.

Emerging markets can be a good place to look for yield, but that’s because they are associated with certain risks, says Eric Stein, co-director of global income at Eaton Vance Management, which has the Global Macro Absolute Return Fund (EIGMX ), the Emerging Markets Local Income Fund (EEIAX ) and the Emerging Markets Debt Opportunities Fund (EIDOX ). The three main risks for foreign bonds are currency, interest rates and default, he says.

International bonds also move in step with the Federal Reserve and U.S. Treasurys. If the Fed raises rates, that would cause bond yields elsewhere to rise, meaning their value would fall in the short term. This would only create a headwind for international bonds if the Fed raises rates more than expected and Treasurys sell off, Stein says.

If U.S. rates rise more quickly than expected, this could strengthen the U.S. dollar and cause some emerging market currencies to weaken.

Demand from China is also a risk as many emerging market countries are commodities producers and China is a large consumer, he says. A sell off in the Chinese currency can also send shockwaves through global risk markets, he says.

Oil prices are also a risk, since many emerging market countries are oil exporters, he says.

With the top five global bond issuers – the U.S. France, Germany, the United Kingdom and Japan – all yielding low or negative rates, emerging market countries are “last bastions of yield,” says Meb Faber, a co-founder and chief investment officer of Cambria Investment Management.

Rising interest rates in the U.S. would lead to higher rates elsewhere. So in the short term, that would cause international bond prices to decline and their yield to go up, Faber says.

Whether international bonds will face a strong headwind as the Fed raises rates depends on how the market reacts to the pace of the hikes, Lawrence says.

A strong dollar acts as a headwind for investors in international bonds unless they hedge that currency exposure, he says, but this year, declines in the U.S. dollar have made it more sensible to buy securities denominated in other currencies.

Stein thinks the Fed will raise rates a little more than expected over the next two years, providing a slight headwind to some emerging market currencies.

For those looking for yield, Lawrence points to Brazil, where the 10-year bond is yielding around 12 percent. He also likes Mexico because of its correlation with the slowly improving U.S. economy and its Treasury market but much higher yield. South Africa is also attractive, with its 10-year bonds yielding about 9 percent and a slowly improving fiscal picture.

Both Lawrence and Stein point to Indonesia because of its reform agenda.

They also cite New Zealand as a niche of the developed world economies where investors can get higher yields without taking a lot of credit risk. However, Stein is bearish on the New Zealand dollar.





What You Need to Know About Stock Markets Today #work #from #home

#financial markets today

#

What You Need to Know About Stock Markets Today

By Anne Kates Smith | October 2010

Thanks to electronic trading, the stock market is wilder than ever.

Editor’s Note: We are re-featuring this guide to understanding the markets in light of the announcement on February 15 that the parent company of the New York Stock Exchange has agreed to merge with Deutsche Boerse. The merger would create the world’s largest operator of financial markets. Deutsche Boerse shareholders would own 60% of the merged company; NYSE Euronext shareholders, 40%. The text below has been updated since publication in the October 2010 issue of Kiplinger’s Personal Finance and the data is as of February 16, 2011.

1. There’s no “there” there. You may picture a bustling exchange, where commerce begins and ends with the clang of a bell. But the “stock market” is an increasingly fragmented collection of more than 50 trading platforms, almost all electronic, with various protocols, rules and oversight.

2. The Big Board has shrunk. Images of the New York Stock Exchange still dominate business-news broadcasts. But, in fact, just 34% of the trading volume in stocks listed on the NYSE actually occurs on the exchange, down from 79% in 2005. Nasdaq, the first electronic exchange, accounts for about one-fifth of all U.S. stock trading. Newer exchanges, such as Direct Edge, in Jersey City, N.J. and BATS Exchange, in Kansas City, Mo. each account for about 10% of trading volume. About 30% of U.S. trading volume takes place off exchanges.

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3. ECNs are the new matchmakers. Electronic communication networks match up buy and sell orders at specified prices for institutional investors and brokers. This is where “after-hours” trading occurs. In addition, hundreds of broker-dealers execute trades internally, filling orders out of their own inventory.

4. Some trades are shrouded in mystery. You’ve heard of dark stars. Now there are dark pools — private networks, sponsored by securities firms, where professionals trade without displaying price quotes to the public beforehand. Such dark pools account for more than 10% of stock-trading volume. The Securities and Exchange Commission wants to make dark pools more transparent to avoid a two-tier market that denies the public important pricing information.

5. You’re sure to get the best price — most days. According to an SEC rule, your trade is supposed to be routed to the platform with the best price at that moment. But when some venues aren’t functioning as normal, exchanges may override the rule. The rule didn’t apply during the “flash crash” of May 2010, when an intentional slowdown on the NYSE caused orders to be routed elsewhere, at lower prices.

6. There are fewer traffic cops. In the old days, specialists and market makers kept markets liquid by stepping up to buy — or sell — when a stampede of investors headed the other way. Now, not all exchanges require market makers. High-frequency traders, who program computers to profit from minute price discrepancies and can execute trades in milliseconds, were supposed to fill the void. But they don’t have to, despite the fact that they often account for 50% or more of total trading volume.

7. Stoplights are coming. A pilot plan, recently extended until April, calls for stock-by-stock circuit breakers that would be applicable across all trading platforms. The plan currently applies to stocks in Standard & Poor’s 500-stock index, the Russell 1000 index and certain exchange-traded funds, and calls for a trading pause if the share price changes by 10% within a five-minute period. Since December, market makers in exchange-listed securities have been required to maintain continuous buy and sell quotes within a certain range of a security’s most recent share price, putting an end to occasionally ridiculous quotes, far removed from prevailing prices, that were never meant to be executed.





Markets Data Center Mobile – Company Data, Indexes, Stock Quotes – More

#stock market prices

#

Footnotes

Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. International stock quotes are delayed as per exchange requirements. Indexes may be real-time or delayed; refer to time stamps on index quote pages for information on any delays. Source: SIX Financial Information

Bonds: Bond quotes are updated in real-time. Source: Tullett Prebon.

Currencies: Currency quotes and charts are updated in real-time. Source: Tullett Prebon.

Commodities & Futures: Futures prices reflect electronic trading and are delayed 10 minutes. Futures quotes show contract month with the highest level of open interest, except crude oil, which always shows the “front month” contract (the contract that will expire soonest). Change value during the period between open outcry settle and the commencement of the next day’s trading is calculated as the difference between the last trade and the prior day’s settle. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Source: SIX Financial Information.

Data are provided ‘as is’ for informational purposes only and is not intended for trading purposes. SIX Financial Information (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Data may be intentionally delayed pursuant to supplier requirements.

Sections





Harvard Business Law Review (HBLR) – The Harvard Business Law Review (HBLR)

#harvard business journal

#

This Article addresses mutual fund governance, explaining how it has recently become entangled with the norms and rules of corporate governance. At one level, it is understandable that the Securities and Exchange Commission (SEC) and courts have viewed mutual funds as a type of ordinary corporation. Both mutual funds and corporations are separate legal entities, having directors and shareholders. Directors of each are held to fiduciary duties, charged with serving shareholders’ interests, and expected to aspire to best practices. However, there are fundamental differences between mutual funds and ordinary corporations. This Article contends that these differences have important implications for governance, differences that should lead to the disentanglement of mutual fund governance from corporate governance.

We examine firm lifecycles of 3,081 IPOs from 1996–2012. We find that small IPOs have a different lifecycle than other, larger companies. Within five years of an IPO, only 55% of small capitalization companies remain listed on a public exchange, compared to 61% and 67% for middle and large capitalization companies, respectively. We examine various theories explaining the decline of the small IPO. We find only minor evidence that regulatory changes caused the decline of the small IPO. The decline appears instead to be more attributable to the historical unsuitability of small firms for the public market. Absent economic or market reforms that change small firm quality, further regulatory reforms to enhance the small IPO market are thus unlikely to be effective or bring firms into the public market that have the horsepower to remain publicly listed.

In Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congress instructed the Securities and Exchange Commission (SEC) to draft rules that would require public companies to report annually on whether their products contain certain Congolese minerals. This unprecedented legislation and the SEC rulemaking that followed have inspired an impassioned and ongoing debate between those who view these efforts as a costly misstep and those who view them as a measured response to human rights abuses committed by the armed groups that control many mines in the Democratic Republic of the Congo. This Article for the first time brings empirical evidence to bear on this controversy.

In 2008, the Securities and Exchange Commission made waves by deciding to regulate the nascent peer-to-peer lending industry. Only two lending platforms survived the SEC’s entry into a previously lightly-regulated market. Under this regulatory setup, the SEC would regulate the lending-investing process, while other agencies like the Consumer Financial Protection Bureau and Federal Trade Commission would regulate the borrower side of the business. This Article argues that the existing bifurcated system works and is continually getting better as the SEC amends existing exemptions and introduces new regulations to smooth the path for financial innovation.

Since 1977, with the enactment of the Foreign Corrupt Practices Act, the United States Department of Justice has played a leading role in applying the Act’s anti-bribery, books and records, and internal controls provisions in enforcement proceedings against numerous companies and individuals worldwide. In November 2015, the Department of Justice took the unprecedented step of hiring a Compliance Counsel to guide its prosecutors in decision-making in corporate prosecutions and in benchmarking corporate compliance. This Memorandum is composed as an open letter to the Compliance Counsel, focusing on how she and the Department of Justice should go about that critical benchmarking function.

Eric J. Chang’s provocative article, www.PayDayLoans.gov: A Solution for Restoring Price-Competition to Short-Term Credit Loans—which, as its title suggests, proposes to facilitate price competition in the payday lending market by creating a federal online exchange for payday lenders to post lending rates—has sparked thoughtful reactions among consumer borrowing experts. This Response provides constructive criticism to Chang’s proposal, arguing that such an exchange is unlikely to meet its goal of restoring price competition and offering tweaks that would raise the likelihood of doing so.





What You Need to Know About Stock Markets Today #business #ideas #for

#financial markets today

#

What You Need to Know About Stock Markets Today

By Anne Kates Smith | October 2010

Thanks to electronic trading, the stock market is wilder than ever.

Editor’s Note: We are re-featuring this guide to understanding the markets in light of the announcement on February 15 that the parent company of the New York Stock Exchange has agreed to merge with Deutsche Boerse. The merger would create the world’s largest operator of financial markets. Deutsche Boerse shareholders would own 60% of the merged company; NYSE Euronext shareholders, 40%. The text below has been updated since publication in the October 2010 issue of Kiplinger’s Personal Finance and the data is as of February 16, 2011.

1. There’s no “there” there. You may picture a bustling exchange, where commerce begins and ends with the clang of a bell. But the “stock market” is an increasingly fragmented collection of more than 50 trading platforms, almost all electronic, with various protocols, rules and oversight.

2. The Big Board has shrunk. Images of the New York Stock Exchange still dominate business-news broadcasts. But, in fact, just 34% of the trading volume in stocks listed on the NYSE actually occurs on the exchange, down from 79% in 2005. Nasdaq, the first electronic exchange, accounts for about one-fifth of all U.S. stock trading. Newer exchanges, such as Direct Edge, in Jersey City, N.J. and BATS Exchange, in Kansas City, Mo. each account for about 10% of trading volume. About 30% of U.S. trading volume takes place off exchanges.

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3. ECNs are the new matchmakers. Electronic communication networks match up buy and sell orders at specified prices for institutional investors and brokers. This is where “after-hours” trading occurs. In addition, hundreds of broker-dealers execute trades internally, filling orders out of their own inventory.

4. Some trades are shrouded in mystery. You’ve heard of dark stars. Now there are dark pools — private networks, sponsored by securities firms, where professionals trade without displaying price quotes to the public beforehand. Such dark pools account for more than 10% of stock-trading volume. The Securities and Exchange Commission wants to make dark pools more transparent to avoid a two-tier market that denies the public important pricing information.

5. You’re sure to get the best price — most days. According to an SEC rule, your trade is supposed to be routed to the platform with the best price at that moment. But when some venues aren’t functioning as normal, exchanges may override the rule. The rule didn’t apply during the “flash crash” of May 2010, when an intentional slowdown on the NYSE caused orders to be routed elsewhere, at lower prices.

6. There are fewer traffic cops. In the old days, specialists and market makers kept markets liquid by stepping up to buy — or sell — when a stampede of investors headed the other way. Now, not all exchanges require market makers. High-frequency traders, who program computers to profit from minute price discrepancies and can execute trades in milliseconds, were supposed to fill the void. But they don’t have to, despite the fact that they often account for 50% or more of total trading volume.

7. Stoplights are coming. A pilot plan, recently extended until April, calls for stock-by-stock circuit breakers that would be applicable across all trading platforms. The plan currently applies to stocks in Standard & Poor’s 500-stock index, the Russell 1000 index and certain exchange-traded funds, and calls for a trading pause if the share price changes by 10% within a five-minute period. Since December, market makers in exchange-listed securities have been required to maintain continuous buy and sell quotes within a certain range of a security’s most recent share price, putting an end to occasionally ridiculous quotes, far removed from prevailing prices, that were never meant to be executed.





What Are the Best International Bond Markets? #t #shirt #business

#bond market news

#

What Are the Best International Bond Markets?

What Are the Best International Bond Markets?

With low interest rates in the U.S. and outright negative rates in some overseas markets, the bond market probably isn’t the first thing to come to mind when investors are looking for yield.

But experts are pointing to some niches of the international bond arena that are yielding well above what can be had domestically, albeit with more risk.

Both high-quality and lower-quality bonds have been performing well in terms of price. High-quality developed market bonds have rallied with demand from risk-averse investors, such as those worried about Britain voting to leave the European Union .

But of course as bond prices rise, their yields decline. So, needing to make money, investors have also been turning to lower-quality emerging market bonds. That also drives their price up, but these bonds simply yield more because they are riskier.

It can be tempting to stay within the U.S. in terms of bonds, says Richard Lawrence, senior vice president of portfolio management at Brandywine Global Investment Management, which is a subadvisor for the Legg Mason BW Global Opportunities Bond Fund (ticker: GOBIX ). But that would be eschewing higher yields in emerging markets and some developed world bonds.

“You have to look beyond the headlines,” he says.

Emerging markets can be a good place to look for yield, but that’s because they are associated with certain risks, says Eric Stein, co-director of global income at Eaton Vance Management, which has the Global Macro Absolute Return Fund (EIGMX ), the Emerging Markets Local Income Fund (EEIAX ) and the Emerging Markets Debt Opportunities Fund (EIDOX ). The three main risks for foreign bonds are currency, interest rates and default, he says.

International bonds also move in step with the Federal Reserve and U.S. Treasurys. If the Fed raises rates, that would cause bond yields elsewhere to rise, meaning their value would fall in the short term. This would only create a headwind for international bonds if the Fed raises rates more than expected and Treasurys sell off, Stein says.

If U.S. rates rise more quickly than expected, this could strengthen the U.S. dollar and cause some emerging market currencies to weaken.

Demand from China is also a risk as many emerging market countries are commodities producers and China is a large consumer, he says. A sell off in the Chinese currency can also send shockwaves through global risk markets, he says.

Oil prices are also a risk, since many emerging market countries are oil exporters, he says.

With the top five global bond issuers – the U.S. France, Germany, the United Kingdom and Japan – all yielding low or negative rates, emerging market countries are “last bastions of yield,” says Meb Faber, a co-founder and chief investment officer of Cambria Investment Management.

Rising interest rates in the U.S. would lead to higher rates elsewhere. So in the short term, that would cause international bond prices to decline and their yield to go up, Faber says.

Whether international bonds will face a strong headwind as the Fed raises rates depends on how the market reacts to the pace of the hikes, Lawrence says.

A strong dollar acts as a headwind for investors in international bonds unless they hedge that currency exposure, he says, but this year, declines in the U.S. dollar have made it more sensible to buy securities denominated in other currencies.

Stein thinks the Fed will raise rates a little more than expected over the next two years, providing a slight headwind to some emerging market currencies.

For those looking for yield, Lawrence points to Brazil, where the 10-year bond is yielding around 12 percent. He also likes Mexico because of its correlation with the slowly improving U.S. economy and its Treasury market but much higher yield. South Africa is also attractive, with its 10-year bonds yielding about 9 percent and a slowly improving fiscal picture.

Both Lawrence and Stein point to Indonesia because of its reform agenda.

They also cite New Zealand as a niche of the developed world economies where investors can get higher yields without taking a lot of credit risk. However, Stein is bearish on the New Zealand dollar.





Bond Market’s Big Illusion Revealed as U #sba #loan #rates

#bond market news

#

Bond Market’s Big Illusion Revealed as U.S. Yields Turn Negative

For Kaoru Sekiai, getting steady returns for his pension clients in Japan used to be simple: buy U.S. Treasuries.

Compared with his low-risk options at home, like Japanese government bonds, Treasuries have long offered the highest yields around. And that’s been the case even after accounting for the cost to hedge against the dollar’s ups and downs — a common practice for institutions that invest internationally.

It’s been a “no-brainer since forever,” said Sekiai, a money manager at Tokyo-based DIAM Co. which oversees about $166 billion.

That truism is now a thing of the past. Last month, yields on U.S. 10-year notes turned negative for Japanese buyers who pay to eliminate currency fluctuations from their returns, something that hasn’t happened since the financial crisis. It’s even worse for euro-based investors, who are locking in sub-zero returns on Treasuries for the first time in history.

For a detailed description of how this index was created, click here.

For an analysis of hedging costs for Japanese investors, click here.

That quirk means the longstanding notion of the U.S. as a respite from negative yields in Japan and Europe is little more than an illusion. With everyone from Jeffrey Gundlach to Bill Gross warning of a bubble in bonds, it could ultimately upend the record foreign demand for Treasuries, which has underpinned their seemingly unstoppable gains in recent years.

“People like a simple narrative,” said Jeffrey Rosenberg, the chief investment strategist for fixed income at BlackRock Inc. which oversees $4.6 trillion. “But there isn’t a free lunch. You can’t simply talk about yield differentials without talking about currency differentials.”

DIAM’s Sekiai has been shunning Treasuries since April, a month after foreign holdings of U.S. debt hit a record. Instead, he favors bonds of France and Italy because they “offer some degree of yield and the currency-hedging costs are cheap.” That shift lines up with the latest available Treasury Department data, which showed that demand from non-U.S. investors in April and May was the weakest in a two-month stretch since 2013.

The fact that yields on 10-year Treasuries are still way higher than those in Japan or Germany is part of the reason foreigners are having such a hard time actually profiting from the difference. Negative interest rates outside the U.S. have caused a surge in demand for dollars and dollar assets, pushing up the cost to get into and out of the greenback at the same exchange rate to levels rarely seen in the past.

Ten-year yields in the U.S. are currently about 0.23 percentage point below a basket of bonds from Australia, France, Germany, Italy, Japan, Spain and Switzerland on a hedged basis, versus 1.4 percentage points above on an unhedged basis, according to data compiled by BlackRock. At the start of the year, hedged Treasuries yielded over a half-percentage point more.

In Japan, where 10-year government bonds yield less than zero, the advantage for Treasuries has dwindled from a percentage point at the start of the year to less than 0.1 percentage point now. Without much added value for overseas investors, it’s harder to see foreign demand driving Treasuries to new records, especially as the Federal Reserve moves toward gradually raising rates.

Since falling to a record 1.318 percent on July 6, yields on 10-year notes have backed up as a string of economic reports such as last week’s jobs data bolstered the case for higher rates. They were at 1.58 percent today.

For a large swathe of institutional investors, especially those with conservative mandates, hedging is the norm when they go abroad. It eliminates the need to worry about the daily ebbs and flows in exchange rates and how that might affect their returns. When it comes to Treasuries, overseas buyers usually lock in a fixed exchange rate on the interest payments they get in dollars.

Conversion Costs

In that trade, the cost to convert payments from one currency to another is determined by the cross-currency basis swap. Take Japanese insurers as an example. Under normal circumstances, they would swap their yen for dollars and get interest on the yen they loaned out over the course of the contract.

But now, because the rate has turned negative, they’re effectively paying interest to lend the yen, which eats into their bond returns. That’s on top of the Libor rate they’ll need to pay for borrowing the dollars, which currently stands at 0.79 percent over three months.

The basis, as it’s known, was at minus 0.6425 percentage point for yen-based investors, which is close to the most expensive in five years. For those with euros, the basis is minus 0.43 percentage point. That’s more than twice as costly as the average over the past three years.

In a perfectly efficient market, none of this would matter. Differences in interest rates would be perfectly offset by the cost of exchanging two different currencies over time. But in the real world, things are far messier.

As unconventional monetary policies in Japan and Europe pushed yields lower and lower in recent years, demand for dollars has soared in tandem with the currency’s appreciation. Banks responded by demanding stiffer terms to swap into dollars as supply diminished, cutting into profits on the “carry trade” in Treasuries.

Treasuries will remain a better alternative for many overseas investors as long as an advantage exists, no matter how small the hedged yield pickup has become, according to Ralph Axel, a bond analyst at Bank of America Corp.

“They’ll just keep buying,” Axel said. Because of forces like negative rates and quantitative easing outside the U.S. “you clearly have a long-lasting bid.”

Of course, there’s the flip side. The overwhelming demand for U.S. currency is proving to be a boon for American investors and foreign central banks sitting on billions of dollars. Pacific Investment Management Co. also says there’s profit to be made by getting paid to swap dollars into yen.

Interest-Rate Swaps

Overseas money managers, though, have had to turn to more novel solutions to avoid the onerous hedging costs. Jack Loudoun, who helps oversee about $88 billion for Vontobel Asset Management in Zurich, says he prefers interest-rate swaps and futures on Treasuries to get exposure to the U.S. market because lower upfront costs help reduce foreign-exchange risk.

“We’re using derivatives to get access,” he said. “If you’re worried about hedging cost, swaps and futures are the avenues to go down.”

Whatever the strategy, there’s little debate over how important foreign demand is for the $13.4 trillion market for Treasuries.

“We’re at a point now where investors have to start thinking about this,” said Sachin Gupta, a foreign-bond fund manager at Pimco, which oversees $1.51 trillion. “As the cost of hedging rises to such an extent, there’s no extra carry to be had. That itself will slow down the demand — and, at some point, even reverse the demand — for Treasuries.”

Before it’s here, it’s on the Bloomberg Terminal. LEARN MORE





RT – News – Business, Finance, Economy, Markets, Stocks Shares #best

#business news

#

02 Sep Exchequer returns for August show a significant fall in revenues collected during the month.

02 Sep US employment growth slowed more than expected in August after two straight months of robust gains and wage gains moderated.

02 Sep Tech giant Samsung has said it is suspending sales of its latest flagship smartphone Galaxy Note 7, as reports of exploding batteries threaten to damage the reputation of the South Korean electronics giant.

02 Sep Telecoms firm Eir has recorded its first year of annual revenue growth since 2008.

02 Sep Minister for Finance Michael Noonan has claimed that the EU Commission’s ruling over Apple’s tax operations in Ireland was an “attack on our corporate tax regime”.

02 Sep Heavy machinery maker Caterpillar has said it could lay off about 2,000 employees at a plant in Belgium, as it considers shifting production to other facilities as part of a restructuring programme announced last year.

02 Sep Irish Residential Properties REIT, or I-RES, is seeking planning permission for 492 apartments as well as retail space in Sandyford in Dublin.

02 Sep Peer-to-peer lending platform Linked Finance says 21 SMEs raised €600,000 in funding during the first two weeks of its new fixed rate loan offering.

02 Sep Activity in the services sector rose by 0.5% between June and July, with wholesale and retail trade seeing a 6.1% surge during the month.

02 Sep Currency movements have hit Fyffes’ banana business, according to the company’s first half results.

02 Sep Crude prices have risen today after losses of more than 3% yesterday, with investors treading cautiously ahead of key US employment data.

02 Sep RTÉ’s Europe Editor Tony Connelly looks at the Apple ruling and the possible impact of a similar case involving Spanish bank Santander.

02 Sep The Irish Times reports telecom firms have hit out at Eir for raising wholesale broadband prices for the second time in 14 months.

02 Sep Telecoms firm Eir has recorded its first year of annual revenue growth since 2008.

01 Sep Up to 250 jobs could go at US multinational Caterpillar’s plants in Northern Ireland, a spokesman has said.

feature” data-cycle-timeout=”0″ data-cycle-swipe=”true” data-cycle-next=”.highlights-nav.next” data-cycle-prev=”.highlights-nav.previous” data-cycle-disabled-class=”disabled” data-cycle-allow-wrap=”false” data-cycle-update-view=”1″ data-cycle-auto-height=”calc”>

Grafton Chief Executive Gavin Slark discusses the builders’ merchant and DIY retailer’s double-digit growth in percentage terms in revenue and profit in H1

Bord Gáís Energy Managing Director Dave Kirwan said the firm is reducing its residential electricity prices by 5% and its residential gas prices by 2%

Just Eat Managing Director for Ireland Amanda Roche Kelly discusses the brand’s presence at the upcoming Electric Picnic festival





Markets Data Center Mobile – Company Data, Indexes, Stock Quotes – More

#stock market prices

#

Footnotes

Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. International stock quotes are delayed as per exchange requirements. Indexes may be real-time or delayed; refer to time stamps on index quote pages for information on any delays. Source: SIX Financial Information

Bonds: Bond quotes are updated in real-time. Source: Tullett Prebon.

Currencies: Currency quotes and charts are updated in real-time. Source: Tullett Prebon.

Commodities & Futures: Futures prices reflect electronic trading and are delayed 10 minutes. Futures quotes show contract month with the highest level of open interest, except crude oil, which always shows the “front month” contract (the contract that will expire soonest). Change value during the period between open outcry settle and the commencement of the next day’s trading is calculated as the difference between the last trade and the prior day’s settle. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Source: SIX Financial Information.

Data are provided ‘as is’ for informational purposes only and is not intended for trading purposes. SIX Financial Information (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Data may be intentionally delayed pursuant to supplier requirements.

Sections





What You Need to Know About Stock Markets Today #writing #business #plan

#financial markets today

#

What You Need to Know About Stock Markets Today

By Anne Kates Smith | October 2010

Thanks to electronic trading, the stock market is wilder than ever.

Editor’s Note: We are re-featuring this guide to understanding the markets in light of the announcement on February 15 that the parent company of the New York Stock Exchange has agreed to merge with Deutsche Boerse. The merger would create the world’s largest operator of financial markets. Deutsche Boerse shareholders would own 60% of the merged company; NYSE Euronext shareholders, 40%. The text below has been updated since publication in the October 2010 issue of Kiplinger’s Personal Finance and the data is as of February 16, 2011.

1. There’s no “there” there. You may picture a bustling exchange, where commerce begins and ends with the clang of a bell. But the “stock market” is an increasingly fragmented collection of more than 50 trading platforms, almost all electronic, with various protocols, rules and oversight.

2. The Big Board has shrunk. Images of the New York Stock Exchange still dominate business-news broadcasts. But, in fact, just 34% of the trading volume in stocks listed on the NYSE actually occurs on the exchange, down from 79% in 2005. Nasdaq, the first electronic exchange, accounts for about one-fifth of all U.S. stock trading. Newer exchanges, such as Direct Edge, in Jersey City, N.J. and BATS Exchange, in Kansas City, Mo. each account for about 10% of trading volume. About 30% of U.S. trading volume takes place off exchanges.

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3. ECNs are the new matchmakers. Electronic communication networks match up buy and sell orders at specified prices for institutional investors and brokers. This is where “after-hours” trading occurs. In addition, hundreds of broker-dealers execute trades internally, filling orders out of their own inventory.

4. Some trades are shrouded in mystery. You’ve heard of dark stars. Now there are dark pools — private networks, sponsored by securities firms, where professionals trade without displaying price quotes to the public beforehand. Such dark pools account for more than 10% of stock-trading volume. The Securities and Exchange Commission wants to make dark pools more transparent to avoid a two-tier market that denies the public important pricing information.

5. You’re sure to get the best price — most days. According to an SEC rule, your trade is supposed to be routed to the platform with the best price at that moment. But when some venues aren’t functioning as normal, exchanges may override the rule. The rule didn’t apply during the “flash crash” of May 2010, when an intentional slowdown on the NYSE caused orders to be routed elsewhere, at lower prices.

6. There are fewer traffic cops. In the old days, specialists and market makers kept markets liquid by stepping up to buy — or sell — when a stampede of investors headed the other way. Now, not all exchanges require market makers. High-frequency traders, who program computers to profit from minute price discrepancies and can execute trades in milliseconds, were supposed to fill the void. But they don’t have to, despite the fact that they often account for 50% or more of total trading volume.

7. Stoplights are coming. A pilot plan, recently extended until April, calls for stock-by-stock circuit breakers that would be applicable across all trading platforms. The plan currently applies to stocks in Standard & Poor’s 500-stock index, the Russell 1000 index and certain exchange-traded funds, and calls for a trading pause if the share price changes by 10% within a five-minute period. Since December, market makers in exchange-listed securities have been required to maintain continuous buy and sell quotes within a certain range of a security’s most recent share price, putting an end to occasionally ridiculous quotes, far removed from prevailing prices, that were never meant to be executed.





Small Business Finance Markets Report 2015 #starting #a #business

#small business finance

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Small Business Finance Markets Report 2015/16

The Small Business Finance Markets Report 2015/16 shows that the market for small business finance is improving, however a number of challenges remain:

  • A lack of businesses scaling-up is hampering UK productivity – there remains a need to stimulate a greater volume of scale-up businesses and SME exporters to counteract the UK’s lagging productivity. OECD data shows that Britain is near the bottom of the table for the percentage of businesses that grow to more than 10 employees after three years.
  • A need to delivery further diversity in the small business finance market – there is an ongoing need to accelerate the evolution of a diverse and accessible range of finance options to drive competition and choice for smaller businesses. The four largest banks still account for 80% of the small business loan market in 2014, with many small businesses not looking at alternative finance options beyond their main bank.
  • Supporting growing SMEs across all UK regions – the finance landscape remains uneven across the UK. To help rebalance growth, an increased availability of finance for smaller businesses across the UK is required. 71% of total SME equity investment is accounted for by London and South East based companies.

DOWNLOADS

2015 Business Finance Survey: SMEs

This survey, undertaken by BMG Research for the British Business Bank, follows on from the previous 2012 and 2014 “SME Journey” surveys to explore SME awareness of different types of external finance and their experience of raising finance. We have extensively used the findings from this survey within our new Small Business Finance Markets 2015/16 report to assess how finance markets have changed.

Amongst the findings, this survey shows a continued increase in business awareness of alternative finance types, including peer-to-peer lending and crowdfunding. The research also shows that a higher proportion of SMEs are aiming to grow in the next 12 months (56%), compared to 46% in the previous 2014 survey.

2015 Business Finance Survey: Mid-caps

This survey, undertaken by BMG Research for the British Business Bank, assesses the characteristics of mid-caps (businesses with £25m-£500m annual turnover) and their experience of raising external finance. The survey finds that mid-cap businesses are more likely to use and seek external finance compared to SMEs, and are also more likely to obtain finance. In addition, a high proportion of mid-cap businesses (79%) are aiming to grow in the next 12 months.

Methodology Consultation: Assessing the Unmet Demand for SME debt finance

The British Business Bank would like to consult with interested stakeholders on appropriate methodologies for assessing the unmet demand for SME debt finance. The consultation seeks views on our proposed methodology and suggestions for alternative methodologies or additional data sources.





Small Business Finance Markets Report 2015 #investment #news

#small business finance

#

Small Business Finance Markets Report 2015/16

The Small Business Finance Markets Report 2015/16 shows that the market for small business finance is improving, however a number of challenges remain:

  • A lack of businesses scaling-up is hampering UK productivity – there remains a need to stimulate a greater volume of scale-up businesses and SME exporters to counteract the UK’s lagging productivity. OECD data shows that Britain is near the bottom of the table for the percentage of businesses that grow to more than 10 employees after three years.
  • A need to delivery further diversity in the small business finance market – there is an ongoing need to accelerate the evolution of a diverse and accessible range of finance options to drive competition and choice for smaller businesses. The four largest banks still account for 80% of the small business loan market in 2014, with many small businesses not looking at alternative finance options beyond their main bank.
  • Supporting growing SMEs across all UK regions – the finance landscape remains uneven across the UK. To help rebalance growth, an increased availability of finance for smaller businesses across the UK is required. 71% of total SME equity investment is accounted for by London and South East based companies.

DOWNLOADS

2015 Business Finance Survey: SMEs

This survey, undertaken by BMG Research for the British Business Bank, follows on from the previous 2012 and 2014 “SME Journey” surveys to explore SME awareness of different types of external finance and their experience of raising finance. We have extensively used the findings from this survey within our new Small Business Finance Markets 2015/16 report to assess how finance markets have changed.

Amongst the findings, this survey shows a continued increase in business awareness of alternative finance types, including peer-to-peer lending and crowdfunding. The research also shows that a higher proportion of SMEs are aiming to grow in the next 12 months (56%), compared to 46% in the previous 2014 survey.

2015 Business Finance Survey: Mid-caps

This survey, undertaken by BMG Research for the British Business Bank, assesses the characteristics of mid-caps (businesses with £25m-£500m annual turnover) and their experience of raising external finance. The survey finds that mid-cap businesses are more likely to use and seek external finance compared to SMEs, and are also more likely to obtain finance. In addition, a high proportion of mid-cap businesses (79%) are aiming to grow in the next 12 months.

Methodology Consultation: Assessing the Unmet Demand for SME debt finance

The British Business Bank would like to consult with interested stakeholders on appropriate methodologies for assessing the unmet demand for SME debt finance. The consultation seeks views on our proposed methodology and suggestions for alternative methodologies or additional data sources.





Harvard Business Law Review (HBLR) – The Harvard Business Law Review (HBLR)

#harvard business journal

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This Article addresses mutual fund governance, explaining how it has recently become entangled with the norms and rules of corporate governance. At one level, it is understandable that the Securities and Exchange Commission (SEC) and courts have viewed mutual funds as a type of ordinary corporation. Both mutual funds and corporations are separate legal entities, having directors and shareholders. Directors of each are held to fiduciary duties, charged with serving shareholders’ interests, and expected to aspire to best practices. However, there are fundamental differences between mutual funds and ordinary corporations. This Article contends that these differences have important implications for governance, differences that should lead to the disentanglement of mutual fund governance from corporate governance.

We examine firm lifecycles of 3,081 IPOs from 1996–2012. We find that small IPOs have a different lifecycle than other, larger companies. Within five years of an IPO, only 55% of small capitalization companies remain listed on a public exchange, compared to 61% and 67% for middle and large capitalization companies, respectively. We examine various theories explaining the decline of the small IPO. We find only minor evidence that regulatory changes caused the decline of the small IPO. The decline appears instead to be more attributable to the historical unsuitability of small firms for the public market. Absent economic or market reforms that change small firm quality, further regulatory reforms to enhance the small IPO market are thus unlikely to be effective or bring firms into the public market that have the horsepower to remain publicly listed.

In Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congress instructed the Securities and Exchange Commission (SEC) to draft rules that would require public companies to report annually on whether their products contain certain Congolese minerals. This unprecedented legislation and the SEC rulemaking that followed have inspired an impassioned and ongoing debate between those who view these efforts as a costly misstep and those who view them as a measured response to human rights abuses committed by the armed groups that control many mines in the Democratic Republic of the Congo. This Article for the first time brings empirical evidence to bear on this controversy.

In 2008, the Securities and Exchange Commission made waves by deciding to regulate the nascent peer-to-peer lending industry. Only two lending platforms survived the SEC’s entry into a previously lightly-regulated market. Under this regulatory setup, the SEC would regulate the lending-investing process, while other agencies like the Consumer Financial Protection Bureau and Federal Trade Commission would regulate the borrower side of the business. This Article argues that the existing bifurcated system works and is continually getting better as the SEC amends existing exemptions and introduces new regulations to smooth the path for financial innovation.

Since 1977, with the enactment of the Foreign Corrupt Practices Act, the United States Department of Justice has played a leading role in applying the Act’s anti-bribery, books and records, and internal controls provisions in enforcement proceedings against numerous companies and individuals worldwide. In November 2015, the Department of Justice took the unprecedented step of hiring a Compliance Counsel to guide its prosecutors in decision-making in corporate prosecutions and in benchmarking corporate compliance. This Memorandum is composed as an open letter to the Compliance Counsel, focusing on how she and the Department of Justice should go about that critical benchmarking function.

Eric J. Chang’s provocative article, www.PayDayLoans.gov: A Solution for Restoring Price-Competition to Short-Term Credit Loans—which, as its title suggests, proposes to facilitate price competition in the payday lending market by creating a federal online exchange for payday lenders to post lending rates—has sparked thoughtful reactions among consumer borrowing experts. This Response provides constructive criticism to Chang’s proposal, arguing that such an exchange is unlikely to meet its goal of restoring price competition and offering tweaks that would raise the likelihood of doing so.





What You Need to Know About Stock Markets Today #ethics #in #business

#financial markets today

#

What You Need to Know About Stock Markets Today

By Anne Kates Smith | October 2010

Thanks to electronic trading, the stock market is wilder than ever.

Editor’s Note: We are re-featuring this guide to understanding the markets in light of the announcement on February 15 that the parent company of the New York Stock Exchange has agreed to merge with Deutsche Boerse. The merger would create the world’s largest operator of financial markets. Deutsche Boerse shareholders would own 60% of the merged company; NYSE Euronext shareholders, 40%. The text below has been updated since publication in the October 2010 issue of Kiplinger’s Personal Finance and the data is as of February 16, 2011.

1. There’s no “there” there. You may picture a bustling exchange, where commerce begins and ends with the clang of a bell. But the “stock market” is an increasingly fragmented collection of more than 50 trading platforms, almost all electronic, with various protocols, rules and oversight.

2. The Big Board has shrunk. Images of the New York Stock Exchange still dominate business-news broadcasts. But, in fact, just 34% of the trading volume in stocks listed on the NYSE actually occurs on the exchange, down from 79% in 2005. Nasdaq, the first electronic exchange, accounts for about one-fifth of all U.S. stock trading. Newer exchanges, such as Direct Edge, in Jersey City, N.J. and BATS Exchange, in Kansas City, Mo. each account for about 10% of trading volume. About 30% of U.S. trading volume takes place off exchanges.

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3. ECNs are the new matchmakers. Electronic communication networks match up buy and sell orders at specified prices for institutional investors and brokers. This is where “after-hours” trading occurs. In addition, hundreds of broker-dealers execute trades internally, filling orders out of their own inventory.

4. Some trades are shrouded in mystery. You’ve heard of dark stars. Now there are dark pools — private networks, sponsored by securities firms, where professionals trade without displaying price quotes to the public beforehand. Such dark pools account for more than 10% of stock-trading volume. The Securities and Exchange Commission wants to make dark pools more transparent to avoid a two-tier market that denies the public important pricing information.

5. You’re sure to get the best price — most days. According to an SEC rule, your trade is supposed to be routed to the platform with the best price at that moment. But when some venues aren’t functioning as normal, exchanges may override the rule. The rule didn’t apply during the “flash crash” of May 2010, when an intentional slowdown on the NYSE caused orders to be routed elsewhere, at lower prices.

6. There are fewer traffic cops. In the old days, specialists and market makers kept markets liquid by stepping up to buy — or sell — when a stampede of investors headed the other way. Now, not all exchanges require market makers. High-frequency traders, who program computers to profit from minute price discrepancies and can execute trades in milliseconds, were supposed to fill the void. But they don’t have to, despite the fact that they often account for 50% or more of total trading volume.

7. Stoplights are coming. A pilot plan, recently extended until April, calls for stock-by-stock circuit breakers that would be applicable across all trading platforms. The plan currently applies to stocks in Standard & Poor’s 500-stock index, the Russell 1000 index and certain exchange-traded funds, and calls for a trading pause if the share price changes by 10% within a five-minute period. Since December, market makers in exchange-listed securities have been required to maintain continuous buy and sell quotes within a certain range of a security’s most recent share price, putting an end to occasionally ridiculous quotes, far removed from prevailing prices, that were never meant to be executed.