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Hedge funds do not need more regulation
Thu, Oct 23 2008, 06:49 GMT
by Nicole Elliott
Quote:
‘The all-powerful market which is always right is finished.’ Nicolas Sarkozy (1955-)
The News:
UK FSA’s Hector Sants says hedge funds do not need more regulation and that they are weathering current turmoil better than other financial sectors.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
(21:00) NZ Reserve Bank of New Zealand interest rate decision: -100 basis points to 6.50% and expects to cut further.
00:50 JP September Trade Balance +95B Yen versus -327B August.
08:30 SE Swedish Riksbank decides on interest rates (some expect –25 bp to 4.00%, some say no change).
09:30 GB September Retail Sales (-1.8% to +0.3% M/M, +1.1% to +3.0% Y/Y, versus +1.2% and +3.3% August).
09:30 GB September BBA Mortgage Approvals (versus 21,086B August [lowest since 1994]).
10:00 EZ15 August Industrial New Orders (-2.0% to +2.2% M/M, -4.3% to +1.2% Y/Y, vs +1.0% and +1.6% July).
10:30 GB Treasury auction result of £3B 5.00% 2018 Gilt.
13:30 US Weekly Jobless Claims (430K to 490K, Continuing Claims 3600K to 3750K, vs 461K and 3711K prior week).
15:00 US August House Price Index (-0.6% to -0.3% M/M versus -0.6% July).
15:30 CA Bank of Canada Monetary Policy Report.
16:00 US Treasury auctions result of 2 and 5 year TNotes and 5 year TIPS.
The Psychology:
Public holiday in Hungary today and tomorrow, Thailand just today.
The Risk:
President Bush to host a G20 world leaders’ summit in Washington November 15th, the first in a series to try and sort out the global financial meltdown.
Today’s most interesting chart: Brazil Government USD 2014 bond
Emerging markets hit hard: their currencies, stock markets and bonds.
Published on Thu, Oct 23 2008, 06:54 GMT
Archive
- US regulators close seven banks yesterday, six in Illinois, bringing total to 52 so far this year
Published On Fri, Jul 3 2009, 06:40 GMT - US June vehicle sales –28% to 9.69 million units, Domestic 7.2M
Published On Thu, Jul 2 2009, 06:30 GMT - A very slow recovery means rates could stay close to zero for years
Published On Wed, Jul 1 2009, 06:40 GMT - Fannie Mae's seriously delinquent mortgages 3.42% vs 1.22% year ago on total $789B portfolio
Published On Tue, Jun 30 2009, 06:22 GMT - The country is not spiralling in to deflation
Published On Mon, Jun 29 2009, 06:41 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
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