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Significance of EC Shuffle

November 30, 2009
Over shadowed by the emergence of Dubai's financial crisis, the European Commission was re-shuffled. France and Finland were given the highly coveted portfolios of internal markets (which is to include financial services regulation) and the economic and financial affairs respectively Michel Barnier and Olli Rehn. Spain's Joaquin Almunia wa…
Significance of EC Shuffle Significance of EC Shuffle Reviewed by magonomics on November 30, 2009 Rating: 5
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The Implications of Dubai's Financial Crisis

November 30, 2009
A storm broke out last week, emanating from the part of the world that is widely seen as a major beneficiary of the rise in oil prices. Yet Dubai’s story is not about oil. Indeed it is precisely the absence of oil and natural gas (less than 6% of GDP) that prompted this emirate go down the path of tourism, hospitality, and commercial real estate d…
The Implications of Dubai's Financial Crisis The Implications of Dubai's Financial Crisis Reviewed by magonomics on November 30, 2009 Rating: 5
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Check-in Brazil ADRS vs Local Shares

November 25, 2009
One of the noteworthy developments here in Q4 has been the renewed interest in capital controls by countries trying to manage the flood of portfolio capital. Brazil's 2% tax on purchases of Brazilian stocks and bonds is among the most significant examples.
Check-in Brazil ADRS vs Local Shares Check-in Brazil ADRS vs Local Shares Reviewed by magonomics on November 25, 2009 Rating: 5
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ECB and BOE Continue to Provide Dollar Liquidity ECB and BOE Continue to Provide Dollar Liquidity Reviewed by magonomics on November 25, 2009 Rating: 5
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Why The Dollar is Broadly Lower

November 25, 2009
The combination of the apparent resolution of the West LB situation and the FOMC minutes have conspired to send the US dollar broadly lower today. The FOMC minutes in particular have been seized upon. On one hand, it is unusual for the FOMC to give so much space to a discussion about the dollar. This is, however consistent with what appears to be …
Why The Dollar is Broadly Lower Why The Dollar is Broadly Lower Reviewed by magonomics on November 25, 2009 Rating: 5
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Banking Center Updates

November 24, 2009
Developments in the banking sector have somewhat overshadowed German economic news today. Yet German GDP data may stand in contrast to US GDP due this morning. It’s not that German Q3 GDP was stellar. Q3 GDP was unchanged from the preliminary data at 0.7% q/q (and -4.8% y/y) and a breakdown of the data showed consumption continued to fall (down 0.…
Banking Center Updates Banking Center Updates Reviewed by magonomics on November 24, 2009 Rating: 5
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Greece Tensions Growing More Acute

November 24, 2009
The pressures on Greece continue to increase and this is reflected in the credit default swaps and the interest rate spread over Germany. Indeed, that is a key development in the euro zone over the past month, Greece yields have risen above Ireland, which had been the highest yield in EMU this year. Ten year Greek yields are just below 5%, while I…
Greece Tensions Growing More Acute Greece Tensions Growing More Acute Reviewed by magonomics on November 24, 2009 Rating: 5
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ZAR Best Performing Currency

November 23, 2009
The South African rand is the strongest currency today, gaining 1.87% against the sagging greenback. Several factors are helping lift the rand.
Many are linking the rally in gold to new record highs with the rand's strength. Year to date the correlation between dollar-rand and gold is -18.8%. The euro has been more correlated with gold year to…
ZAR Best Performing Currency ZAR Best Performing Currency Reviewed by magonomics on November 23, 2009 Rating: 5
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T-Bills

November 23, 2009
With U.S. T-bill yields hovering near zero, today's weekly bill auctions may attract more general market attention than usual. Here is what is going on: due to the approaching debt ceiling, the US debt managers have reduced T-bill sales. At the same time, the demand for short-term paper is great.
T-Bills T-Bills Reviewed by magonomics on November 23, 2009 Rating: 5
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