Indian police have arrested the chairman of state-run Syndicate bank, Sudhir Kumar Jain, and several others over allegations of bribery. Mr Jain has been accused of taking bribes to raise credit limits of firms. The Central Bureau of Investigation said it recovered 5m rupees ($82,000; £4…
View original here:
India bank chief arrested over bribery
The Dragster with an opinion piece in Germany’s Handelsblatt news. Someone from Bloomers must be sitting on the can with a copy Draghi also says that monetary policy communication is a constant challenge.
View original here:
Communication is the core element of central bank policy says Draghi
New Zealand’s economic growth is at risk of faltering, Treasury warns, with the outlook for growth beyond this year looking weaker than in recent months. In its monthly economic indicators paper, Treasury analysts warned that data published in July pointed to a slipping in economic confidence, wi…
See more here:
NZ’s economy seen weakening
Monday’s a light day for economic releases, which means that the market may pay unusually close attention to reports that don’t routinely attract a crowd. The list includes today’s summary of the mood among analysts and investors regarding the outlook for Europe via the Sentix Investor Confidence…
More here:
3 Numbers: Russian ‘blowback’ on UK, EU confidence, US jobs trends
In recent weeks France has defied US demands not to build Mistrals for Russia, has questioned dollar imperialism and the Petrodollar, and has blasted the US banking regulator’s fines as “accelerating the decline of the dollar.” So it is likely not a huge surprise that ahead of the G-20 meeting of…
Here is the original post:
G-20 Revolt? France Gets "Positive Reception" To Challenge US Bank Fines
One of the biggest winners in the push to make money-market funds safer for investors is turning out to be none other than the U.S. government. Rules adopted by regulators last month will require money funds that invest in riskier assets to abandon their traditional $1 share-price floor and discl…
See the original post:
Half-Trillion-Dollar Fund Exodus Magnifying U.S. Bill Shortage
Low volatility is being driven, in BofAML’s view, by both fundamental and technical factors. Fundamentally, the volatility of real economic activity and inflation has fallen to near 20 year lows in what some are calling the Great Moderation 2.0. However, the recent further collapse in volatility is…
View original here:
Volatility Shocks & The Cheapest Hedge
Job vacancies at London’s financial-services companies fell by 8 percent in July from the previous month as hiring by large securities firms slowed, according to a survey by a recruitment firm. The number of openings in the City and Canary Wharf financial districts decreased to 2,000 in July from…
Original post:
London Banker Jobs Decrease as Large Firms Slow Hiring
The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, and USD/CHF as provided by the technical strategy team at Credit Suisse. EUR/USD: Temporary support and bounce has been found at the 50% retracement at 1.3374, but we stay bearish for 1.3248. EURUSD has bounced a…
More here:
Technical Setups For EUR/USD, USD/JPY, GBP/USD, USD/CHF – Credit Suisse
The U.S. dollar got off to a calm start on Monday, having suffered its biggest one-day fall in nearly a month after a batch of economic data led markets to push back expectations for the start of the Federal Reserve’s rate-tightening cycle. U.S. jobs growth slowed in July, the unemployment rate u…
See more here:
After stellar July, dollar off to pedestrian start in August
Australian job advertisements in newspapers and on the Internet crept higher in July to be up moderately on the same month last year in a sign of a gradual pick up in the labour market. A survey by Australia and New Zealand Banking Group showed total job advertisements rose 0.3 percent to 133,292…
Continued here:
Australia job ads edge higher in July – ANZ
The ANZ Commodity Price Index recorded a fifth successive monthly decline in July, easing 2.4% in the month, to be 9.8% below the peak measured in February. Ten commodities reported a weakening in prices last month, five commodity prices firmed and two were unchanged. The largest price decli…
Go here to see the original:
ANZ Commodity Price Index – A dairyless dollop
Inflation appears to be off to a soft start in the September quarter, allowing the Reserve Bank to remain in wait-and-see mode on interest rates. The TD Securities/Melbourne Institute monthly inflation gauge rose by 0.2 per cent in July, following a flat result in June. The gauge rose by 2.6 per c…
View post:
Australia inflation at ‘soft start’ in Sept quarter
U.S. and Japanese stock-index futures rose after Banco Espirito Santo SA was bailed out by Portugal’s central bank. Oil extended declines, while the yen and gold held gains after rebounding at the end of last week. Standard & Poor’s 500 Index futures added 0.1 percent to 1,920.60 by 8:49 a.m. in …
View original post here:
Index Futures Rise on Espirito Santo Bailout as Oil Drops
Despite the recent significant weakness in the broader European and US equity indices, European bank stocks are only just beginning to resume their larger downtrend (as the hopes of a Draghi put remained firm until the last few days of BES debacle). As such, BofA’s Macenil Curry believes, they are…
See the original post:
BofA Warns Euro Bank Stocks Are Rolling Over, "Negative For All Risk Assets"
Despite the recent significant weakness in the broader European and US equity indices, European bank stocks are only just beginning to resume their larger downtrend (as the hopes of a Draghi put remained firm until the last few days of BES debacle). As such, BofA’s Macenil Curry believes, they are…
Here is the original post:
BofA Warns Euro Bank Stocks Are Rolling Over, "Negative For All Risk Assets"
Portugal’s central bank took control of Banco Espirito Santo SA, once the country’s largest lender by market value, in a 4.9 billion-euro ($6.6 billion) bailout that will leave junior bondholders with losses. The Bank of Portugal’s Resolution Fund will own the renamed the lender, Novo Banco, whil…
More here:
Portugal Takes Over Banco Espirito Santo in $6.6 Billion Bailout
As the FX Team at TD Securities reports, IMM data for the week through July 29th showed a much more robust, bullish view on the USD emerging among spec/ CTA-type accounts. Key Quotes In aggregate, speculative accounts have amassed a net long USD position equivalent to USD16.0bn over the past …
Read the original here:
USD: Much more robust bullish view among specs – TDS
Bank of Portugal head says Banco Espirito Santo to be recapitalised via bank resolution fund Also: •Says Banco Espirito Santo to be split in “good” and “bad bank” •New, healthy Banco Espirito Santo to have 4.9 bln euro capital, subscribed by resolution fund •Says Banco Espirito Santo deposits ar…
See the original post:
Bank of Portugal head says Banco Espirito Santo to be recapitalised via bank resolution fund
Four central banks meet in the week ahead, and non-manufacturing purchasing managers surveys will be reported. While they are worth assessing, they are unlikely to be the key to the movement in the capital market in the week ahead. Some may argue it is always the case, but in the days ahead, ma…
Go here to read the rest:
Some Thoughts about the Week Ahead
