Volatility up but markets resigned as Greece votes ‘No’
Most European markets were trading lower (somewhere between 1 and 2%) in early trade on Monday, after Greece’s historic no vote in Sunday’s austerity referendum.
Macro News
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CBI survey reveals ‘buoyant expectations’
The Confederation of British Industry has said expectations are buoyant among British businesses, despite a slight slowing of economic growth in June.
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The five worst funds of the first half
With Central bank liquidity and geopolitics continuing to have undue sway over asset prices it is no surprise to see a number of single country funds bringing up the rear in the race for performance over the first half of the year – especially their big weighting in commodities.
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QE prompts correlation between equity and bond flows
The launch of the ECB’s bond-buying programme has led to a convergence in net inflows into investment grade bonds and European equities, an analysis of recent Morningstar fund flows data shows.
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Fracturing EMs demand active managers, says Wells Fargo
As emerging markets continue to splinter it is time to take an active position, says Wells Fargo’s Anthony Cragg. Right now his focus is on China, where he believes the greatest EM opportunities lie.
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Industry professionals dismiss need to address gender imbalance
The gender imbalance in UK financial services does not need to be addressed, according to the majority of industry professionals responding to a new study.
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China’s MSCI inclusion to drive Hong Kong market
China’s inclusion in the MSCI emerging market indices is a matter of when, not if, and the resulting capital inflows will have substantial impact on Hong Kong’s market, said Helen Zhu, Blackrock’s head of China equities.
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Fed rate hike will cause ‘modest corporate discomfort’ – Fitch
Fitch Ratings has said a gradual hike in the United States’ base interest rate would likely result in lower profits and slower growth, due to increased borrowing costs for US companies.
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Fed strikes soft tone on rate rises
The Federal Reserve has kept interest rates on hold in its latest meeting as expected, and the tone of Chair Janet Yellen’s comments indicated that when it comes the rise will be less than was anticipated.
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Eurozone deflation worries easing despite Greece
Despite the ongoing Greece sage, deflation worries in the eurozone are increasingly looking like a thing of the past according to Moody’s Analytics.
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Short-sighted investors need to stop dwelling on Japan’s past
Investors who cannot see the positive long-term prospects for Japan are being too short-sighted, according to industry experts.
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BoE unity could be tested by wage rises
The Bank of England’s monetary policy committee is still united in holding the base rate at 0.5%, according to minutes from the last meeting released today.
