Post Tagged with: "international"
CFOs not optimistic on economy
The Duke University/CFO Magazine Global Business Outlook Survey which concluded last week showed a high level of concern amongst top financial officers in major organizations worldwide. Of note are the CFOs ideas regarding employment and credit where they are less upbeat than I expected. Their views that credit markets remain tight and that employment growth
The Sustainability of Global Recovery
Now that I am back in the saddle, I am going to start doing my week in review narratives again with links to the most newsworthy posts from the past week or so. On second thought, let me actually cover the ground back to the beginning of September for this review since I haven’t done
Basel III To Tighten Capital Requirements – Eventually
by John Lounsbury The BIS (Bank for International Settlements) reported Sunday that it has reached an agreement to increase key capital ratios for banks. The announcement was made by the Group of Governors and Heads of Supervision, the oversight body of the Basel Committee on Banking Supervision. The committee is composed of representatives of the
How strong is the recovery and other links
How strong is the global recovery? The recovery seems slowest in Greece and the bubble countries (US, UK, Ireland, Spain). It’s pretty poor in Eastern Europe too. It is better in the rest of Western Europe. A good deal better in Australia and Canada (not sure about NZ). China, India and Brazil are even tightening.
Paul McCulley does Modern Monetary Theory
This is just in from PIMCO’s Paul McCulley, who seems to have caught on to the Wynne Godley sectoral balances approach to viewing the macro economy (hat tip Scott). He says: Double-entry bookkeeping was a great invention. It is a shame that so many macroeconomists and political pundits – and therefore, politicians themselves – seem
Is There A Global Economic Slowdown In The Works?
According to Ralph Atkins writing in the Financial Times last week, “the pace of Germany’s recovery is helping dispel fears of a “double dip” recession across the continent as a result of the crisis over public finances in southern European countries”. Coincidentally, however, on the very same day, Alan Beattie writing from Washington informed us
The Art of Outperformance
“When data contradicts theory in a discipline like physics, there is excitement amongst scientists […]. When data contradicts theory in finance, there is dismissal.” Robert Arnott Big shift to passive Active management in the equity field is a notoriously difficult art. In fact so difficult that more and more investors give up and go passive
G20 Post-Mortem: No Fresh Trading Incentives
The G20 meeting did not provide much in the way of fresh trading incentives. However, there were a couple of developments that were noteworthy. The most important of these is the balance struck between growth and fiscal austerity. Ahead of the meeting much was made of the different directions that the US and Europe appeared
Financial Reform Bill Encourages Risk-Taking
As the details of the agreement struck by the key House and Senate conference on financial reform has been embraced favorably by the US equity market, that is being led by the financials, and the foreign currencies. In the past three months the major foreign currencies, like the euro, sterling, yen, and the Canadian and
On Fiscal Consolidation And Currency Devaluation At The G-20 And Other Links
G-20 Thoughts I am going to be talking about the G-20 tomorrow at 700 London Time/1200 East Coast Time on BBC World News. The key issue is fiscal consolidation. I am taking the German side of this (see Why I am siding with the Germans on fiscal consolidation) rather than George Soros’ regarding the euro
The G-20 Votes for Global Depression
By Rob Parenteau and Marshall Auerback on how global ‘fiscal austerity’ benefits bankers and wealthy, well-connected political insiders, while screwing the rest of us. Marshall Auerback is a market analyst and commentator. Rob Parenteau, CFA, is sole proprietor of MacroStrategy Edge, editor of The Richebacher Letter, and research associate at the Levy Economics Institute. The