CAIRO, Feb 11 (Reuters) - INTEREST RATESLatestLast change PreviousCentral18.75 06/07/1716.75 bank o/n depositCentral19.75 06/07/1717.75bank o/n lendingCentral19.25 06/07/1717.25bank discount rate MONTHLY DATA _____________ Month Pvs Yr agoUrban 17.128.1consumerJanuary 21.9prices(year-on-year,pct change) CoreinflatioJanuary 14.3519.86 30.86n (year-on-year,pct change) Foreign January 38.20937.020...Read More
HONG KONG, Feb 11 (Reuters) - Chinese state-owned nuclear company CGN Power Co Ltd said Sunday it plans to raise up to $794 million in a domestic listing on the Shenzhen stock exchange.The firm said in a Hong Kong stock exchange filing it plans to offer no more than 5,049,861,100 new shares at 1 yuan ($0.16) per piece for the listing and will use the proceeds for the construction of nuclear power...Read More
(Adds comments on potential crisis areas, context)DUBAI, Feb 11 (Reuters) - Sharp swings in global financial markets in the past few days are not worrying since economic growth is strong but reforms are still needed to avert future crises, the managing director of the International Monetary Fund said on Sunday.Christine Lagarde, speaking at a conference on global business and social trends in Dub...Read More
(Adds economist's first name in par 2)LONDON, Feb 11 (Reuters) - The Bank of England is likely to need to raise interest rates again to tackle inflation but will not do so aggressively, the central bank's chief economist said in a newspaper article published on Sunday.Andy Haldane, on a visit to northeast England, referred to the BoE's statement after its policy meeting on Thursday that interest...Read More
DUBAI, Feb 11 (Reuters) - Sharp fluctuations in global equity markets and other markets in the past few days are not worrying, as global economic growth is strong and available financing is ample, International Monetary Fund managing director Christine Lagarde said on Sunday.But Lagarde, speaking at a Dubai conference on global business and social trends, also said regulators and governments neede...Read More
DUBAI, Feb 11 (Reuters) - Petrochemical shares pulled down Saudi Arabia's stock index in early trade on Sunday but most Gulf markets moved little in response to the latest volatility in global bourses and oil prices at the end of last week.The Saudi index sank 0.9 percent in the first 90 minutes as all 14 petrochemical shares fell, after Brent crude , which two weeks ago was trading around $70 a b...Read More
LONDON, Feb 11 (Reuters) - The Bank of England is likely to need to raise interest rates to tackle inflation but will not do so in a hasty manner, the central bank's chief economist said in a newspaper article published on Sunday.Haldane, on a visit to northeast England, referred to the BoE's statement after its policy meeting on Thursday that interest rates were likely to need to rise somewhat fa...Read More
(Refiles to clarify date of publication of Japanese media, paragraphs 1 and 5)TOKYO, Feb 11 (Reuters) - Japan's government is considering promoting Bank of Japan's Executive Director Masayoshi Amamiya to one of the bank's two deputy governors, Jiji news agency reported, citing unidentified sources.The government has decided to nominate Haruhiko Kuroda for a rare second term as governor of the cen...Read More
BEIJING, Feb 11 (Reuters) - The China Securities Regulatory Commission (CSRC) has started checks on how major shareholders of listed firms are using stock as collateral, part of a broader effort to limit the risks of equity pledges, state-owned Securities Times reported on Sunday.Local CSRC offices in the provinces of Hubei, Sichuan, Anhui and Henan have undertaken checks, the report said, in orde...Read More
DUBAI, Feb 11 (Reuters) - The volatility of global stock markets and oil looks likely to weigh on Gulf bourses on Sunday, with the United Arab Emirates, Qatar and Egypt at risk of foreign fund outflows.The Dow Jones Industrial Average rose 0.4 percent on Friday, but that did not come close to regaining all of Thursday's sharp losses.Meanwhile, Brent oil , which two weeks ago was trading around $70...Read More
To understand the risk of contagion, you can think of the marlin in Hemingway's Old Man and the Sea. The marlin started out as a prize catch lashed to the side of the fisherman Santiago's boat.But, once there was blood in the water, every shark within miles descended on the marlin and devoured it. By the time Santiago got to shore, there was nothing left of the marlin but the bill, the tail and so...Read More
Critics of "New Age" monetary policy have been predicting that central banks would eventually run out of ways to trick people into borrowing money. There are at least three reasons to wonder if that time has finally come: Wage inflation is acceleratingNormally, towards the end of a cycle companies have trouble finding enough workers to keep up with their rising sales. So they start paying new hire...Read More
By Ed Steer10 February 2018 -- SaturdayYESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUM The gold price didn't do much of anything anywhere on Planet Earth on Friday, but I suppose the reality of the situation was that it wasn't allowed that luxury. The gold price traded in a ten dollar price range yesterday -- and the high and low ticks aren't worth looking up. Gold was closed in New York on...Read More
By John MauldinBurn RateOff-Budget Game0% Financing EndsLender SearchCoup de GraceSonoma, San Diego and SIC, and ElsewhereLast week's turbulence shined a harsh spotlight on the stock market. Appropriately so, if that's where your investments are. But in the hubbub many investors are missing the deeper and far more urgent bond market issues.We already knew interest rates were rising. Recent data...Read More
By Michael J. KosaresCan we use volatility to diagnose financial bubbles? Lessons from 40 historical bubblesSwiss Finance Institute/Didier Sornette, Peter Cauwels and Georgi Smilyan, ETH Zurich/7-24-2018"We inspect the price volatility before, during, and after financial asset bubbles in order to uncover possible commonalities and check empirically whether volatility might be used as an indicat...Read More
By Gary TanashianUS Stock MarketWe will update global markets as well as the macro situation in NFTRH 486, but for this article I'd like to focus on the US stock market.Let's cut to the chase; the markets have finally fallen in line for those of us who manage markets, as opposed to dollar cost average into them through a money manager and then go about life, blissfully unaware. Much like during...Read More
By Steve St. AngeloAs the Dow Jones Index continues to drop like a rock, the worst is yet to come. Today, investors once again plowed into the markets because they are following the Mainstream Financial advice of BUYING THE DIP. Unfortunately, those who bought the dip before yesterday's 1,032 point drop and the 400+ point drop this afternoon, have thrown good money after bad.Of course, we co...Read More
Can we use volatility to diagnose financial bubbles? Lessons from 40 historical bubbles"We inspect the price volatility before, during, and after financial asset bubbles in order to uncover possible commonalities and check empirically whether volatility might be used as an indicator or an early warning signal of an unsustainable price increase and the associated crash. Some researchers and finance...Read More
Consider the hypothesis that, all things being equal, a price will maintain its ruling trend indefinitely. This is irrespective whether the trend is up or down or sideways, or steep or shallow. Since we know prices changes are determined by the ratio of supply to demand, it implies the ratio tends to remain relatively constant over time, as real and potential buyers and sellers continue to react a...Read More