Tuesday, 3 March 2015

Financial Orbit wrap 03/03/15

Five sentences or graphics which sum up the Financial Orbit output over the last 24 hours across the website, twitter account and anything else thought about...

1. Chat that Japan govt economic adviser thinks that the yen fall is a the ‘limit of comfort zone’.  Unbalanced economies generally get weaker and weaker FXs… Wage data in Japan still shabby…I still anticipating a tilt at 140 yen to the US dollar at some point.

2. Glencore results were inevitably mixed...but I like their structural optimism about their mining sector exposures: 

3. Paddy Power shows why mobile/the internet is such an all-pervading theme.  Look at that proportional Australian growth! 

4. I write my first finance sector book review on Financial Orbit (link here).

5. Sign of the fixed interest and currency times:

A flood of blockbuster deals, including a $21bn offer by Actavis and a $7bn sale byExxon, will push total offerings of new debt securities above the $30bn mark by the end of the day — making it one of the largest on record for new bond sales

Want to defend your currency peg? That will cost you $25bn. Denmark spent that amount - or kr168.7bn in its own currency - in February in a series of interventions to defend its peg to the euro, its central bank said in a statement...That pushed foreign exchange reserves up to kr737.1bn.
I am not sure which one of the above quotes via Fast FT worries me the most...

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