Markets take a hit on QE announcement
Markets dropped following Ben Bernanke’s announcement the Fed could start tapering QE before the end of the year, with a view to bringing it to an end mid-2014 should economic conditions remain viable.
Macro News
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Investors ditch emerging markets
Optimism in the eurozone improved significantly over the past month as 45% of investors stated they expected the economy to strengthen over the coming year, compared to 24% in May.
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mobius corporate governance terrible
Franklin Templeton’s emerging markets guru Mark Mobius claims corporate governance standards could be improved upon across the globe, signalling he did not mean to single out Russia at a recent conference hosted by Sberbank in Moscow.
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argonauts norris gold fair 240
Gold provides investors with the opposite of what they seek in holding it high risk and low reward and the market consensus that precious metals have only experienced a technical setback should be viewed with caution, according to Argonaut’s CIO Barry Norris.
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ems hammered as correlation bites
Emerging market assets experienced a sharp sell off overnight, with currencies, stocks and bonds all hit by fears of an end to easy money through central banks' tapering.
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uk firms hit by 30percent profit plunge
The profits of FTSE 350-listed companies fell by a headline rate of 29.7% in 2012, down £48.4bn from the year before to £114.5bn, while earnings rose at their slowest pace for at least five years.
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Floating exchange rate key
Axa Investment Managers says a floating renminbi is key in China achieving long-term sustainable growth and expects greater flexibility for the currency in the next six months.
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Mobius state stay out of EM corps
Franklin Templeton's Mark Mobius is most fearful of state intervention into emerging market corporates as we approach the mid-point of 2013.
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IMF UK economic recovery tepid
The UK is "still a long way from a strong and sustainable recovery" according to the International Monetary Fund, as it concludes its annual review of the British economy.
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Structural reform essential to Japans recovery
Japan cannot rely solely on its depreciating currency to continue to fuel its fledgling recovery, with more emphasis needed on long-term structural reform, according to Jupiter's Japanese equities manager.
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BoJ lunatics have taken over the asylum
Japan's quantitative easing programme is a "disaster in the making" while its central bank has let the "lunatics take over the asylum" with a 2% inflation target, according to GLG's Stephen Harker.
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Commentators at loggerheads over interest rate cut
The ECB’s decision to cut interest rates signals a welcome move away from austerity for some, but is too little too late for others.
