Tuesday, 3 February 2015

A few stories of interest today

A few stories of interest today

 Greece – proposes swapping outstanding debt for new growth-linked bonds…but no real discussions yet with the Eurozone or Troika...

2     Greece #2 – ‘Germany will have to yield in dangerous game of chicken with Greece’ Good read with appraisal of how a Greek/German debt deal might work...

      US – couple of interesting stats via Bespoke: Number of components (4) contracting in this month's ISM Manufacturing report was the highest since July 2013 & bullish sentiment falls lowest since September as per this report


3    Australia becomes the 12th central bank this year to reduce interest rates (link here).  Lower for longer! (including the AUD as shown below). 

4    China - China’s capital account posted the widest deficit since at least 1998 in the fourth quarter: investment in China not a one-way street anymore?  Certainly life is getting more complicated...which at a certain level shows progress.  

      Also in Asia I enjoyed this piece on Hong Kong from Bloomberg (link here) which included this fantastic chart...

     Although Lenovo sales were pretty good this morning...more on this name (which responded well in the Hong Kong market) later.  


  1. Currency wars are strange! Time soon for an Oz holiday!

    1. Have often thought that it would be rather cool to go on holiday to the place on a list of safe/interesting countries whose currency had fallen the most over the past year versus your own home FX