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EC Verdict on Greece Wednesday

February 02, 2010
The European Commission will give its verdict on Greece's new fiscal initiatives tomorrow. There are two main issues. The first is the credibility of Greece's macro-economic statistics. Some reports suggest that the new commission established to ensure accuracy of Greece's statistics has covered another 40 bln euro shortfall. To be sur…
EC Verdict on Greece Wednesday EC Verdict on Greece Wednesday Reviewed by magonomics on February 02, 2010 Rating: 5
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Preliminary Thoughts about the Upcoming G7 Meeting

February 02, 2010
There have been suggestions that the G20 becomes the basis for a new governance structure of the IMF. If if this does not come to pass, it is clear the the G7 has been downgraded to a caucus within that larger group. Canada heads up this year and its influence is greater in the G7 than in the G20 so it is little wonder that it is trying to build a…
Preliminary Thoughts about the Upcoming G7 Meeting Preliminary Thoughts about the Upcoming G7 Meeting Reviewed by magonomics on February 02, 2010 Rating: 5
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Phillippines

February 02, 2010
While attention has been focused on Europe's fiscal challenges, developments in the Philippines today is a good reminder of the global nature of problem. It experienced its second failed auction here at the start of 2010. Today it rejected all the offers for PHP8.5 bln (~$183 mln) 2016 bonds that had produced an average yield of 7.465%, which …
Phillippines Phillippines Reviewed by magonomics on February 02, 2010 Rating: 5
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Dollar Carry Trade and Positioning

February 01, 2010
Three important developments to note:
1. In our discussion with clients and policy makers over the past 3-6 months we argued that one of the potential surprises that few were prepared for was a stronger dollar. The Deputy Governor of the PBOC was quoted from Davos making a similar assessment. "To me, the big risk this year is the dollar carry…
Dollar Carry Trade and Positioning Dollar Carry Trade and Positioning Reviewed by magonomics on February 01, 2010 Rating: 5
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Thailand Joins the Club, Encouraging Capital Outflows

February 01, 2010
Apparently learning for the fiasco in 2006, when it imposed controls to limit the Thai baht appreciation, by limiting inflows, Thailand announced today measures to liberalize outflows. The goal appears largely the same. Reduce the upside pressure on the currency. 
The steps announced today include abolishing the cap on overseas investments by Thai …
Thailand Joins the Club, Encouraging Capital Outflows Thailand Joins the Club, Encouraging Capital Outflows Reviewed by magonomics on February 01, 2010 Rating: 5
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