HEDGED.BIZ

A look at economics, markets, finance and the irrational human being

Private Banking Industry In Asia 2015. Identity Crisis.

With regulation like Basel III, Dodd-Frank and other local regulations it is no wonder that banks are turning to asset management and private banking to generate fee income. The wealth generation in Asia has caught the attention of the private banking industry and many banks are investing heavily in building and growing their Asian businesses.
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Ten Seconds Into The Future. Investment Outlook 2H 2015

Outlook 2H 2015   Behind every forecast is a melee of competing ideas and arguments. Behind the veil of confidence is a dialectical process of self-questioning and reinforcement, and often, self-doubt. Behind every investment strategist is a risk manager acting as goalkeeper, and a trader dodging and weaving around short term volatility, avoiding the thousand
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FX Rate Fixing. Banks Fined. A Clarification.

The rights and obligations of principal and agent need to be properly defined, particularly in complex business like banking and finance. Five banks have recently been fined $5.5 billion over a rate manipulation scheme that has seen them not act in their clients’ best interest. A bank should be clear about whether it trades as
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China's QE Lite II. Jiangsu Successfully Issues 52 billion RMB of Muni Bonds

On Monday, 18 May, Jiangsu province successfully sold 52 billion RMB of municipal bonds.   Recently, the Chinese government has accelerated a municipal bond program that effectively is a debt swap for some 1.7 trillion RMB of existing local government debt. Cost of debt for the local governments is expected to fall by some 250-300
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China's QE Lite. PSL, MLF, SLF a.k.a LTRO, MRO

China is initiating QE lite mimicking the ECB’s LTRO programs. The objectives are clearly to lower borrowing costs for local governments, and to establish a liquid municipal bond market as part of a reorganization of the funding mechanism for local governments which until now had used opaque, off balance sheet, so-called Local Government Funding Vehicles
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