UOB Economic-Treasury Research
EU Bank Stress Test Results Not Exactly Stress- ful, But a Good Start The Committee of European Banking Supervisors (CEBS) released its summary report on the results of the EU-wide stress test exercise on Friday. The overall objective of the 2010 exercise is to provide policy information for assessing the EU banking system’s resilience to...
Market Commentary
Thai Policy Rate Hike at 1.50 Per cent: Rate Hike Largely Expected Source: UOB Economic-Treasury Research It did not come as much surprise when Bank of Thailand (BoT) on Wednesday increased its policy interest rate by 25 bps to 1.50 per cent, as largely expected by the market. This came on the back of several...
Weekly Market Commentary: 12 July 2010
Source: Asiasons WFG Straits Times Index: Fear Receded The STI fell slightly in low volume on last Monday as global economic gloom crimped regional sentiment. On Tuesday, the STI reversed course and gain 0.8 per cent as a strong rebound in Chinese market lifted sentiment. The optimism was also buoyed by the increase in US...
Monthly Outlook: July 2010
Source: Rabobank United States Although the US economy emerged from recession a year ago, the damage to the economy is extensive. During the recession of 2008-1H2009 and the ‘jobless recovery’ in 2H2009, 8.4 million jobs were lost, many more than we saw in the last few recessions. Employment growth has been positive in the first...
Market Outlook
World Economy to Slow in 2H2010, Roubini Says Government bonds of countries such as Germany, Canada and the US will represent a haven from increasingly volatile markets over the next few months, Nouriel Roubini, the New York University economist credited with predicting the financial crisis, said. Roubini expects the global economy to slow in the...
Financial Markets Research: Global Daily
(Source: Rabobank International) Market Comments A series of disappointing US and Chinese macroeconomic data sent stock prices (Eurostoxx50, down 2.12 per cent; FTSE100, down 2.26 per cent; S&P500, down 0.32 per cent) further down Thursday. The euro-dollar exchange rate rose from EUR1.22 to EUR1.25, also aided by a successful Spanish bond auction and a EUR112...
News Highlights for Global Markets
(Source: UOB) Setting off the negative tone Wednesday night were worries about jobs after ADP said that the US private sector added just 13,000 jobs in June, well below expectations. Markets were looking for 61,000 jobs to be created this month. Wednesday’s report is closely watched ahead of the government’s jobs report, due this Friday....
Global Markets by UOB Economic-Treasury Research
News Highlights • Asian currencies weakened against the US dollar Tuesday, as enthusiasm over the RMB reform ebbed. Even as China kept the central parity rate stronger Tuesday, the Chinese central bank was suspected of keeping the RMB weaker through several state-owned banks, to show the markets that the RMB’s direction in the future may...
Managing Working Capital
By James Leong Chan Foo, Chartered Accountant (Australia) Make or Break Managing working capital is a critical component of financial management. It can make or break a company. Inadequate working capital can put a company in jeopardy rather quickly due to liquidity problems. On the other hand, excessive working capital strains the company’s finances. Accounting...
Global Markets by UOB Economic-Treasury Research
Renewed talk of a bailout for Spain re-ignited euro-zone debt fears Wednesday. Spanish newspaper ‘El-Economista’reported that the EU, IMF and the US Treas- ury are in talks about a EUR250bn (US$308.68 billion) line of credit for Spain. The report said that a liquidity plan specifi- cally aimed at Spain had been discussed by IMF board...
Monthly Outlook by Rabobank
United States US Economy Gets Back on Its Feet Despite the downward revision of first quarter GDP growth to 3.0 per cent, the US economy has rebounded impressively. After a recession in 2008 and the first half of 2009, GDP grew by 2.2 per cent in 3Q2009, and 5.6 per cent in 4Q2009. How- ever,...
OCBC Fund Poll Outlook for 2H2010
What Are Fund Managers Saying About the Outlook? OCBC Bank’s Wealth Management unit polled 19 fund managers for their views on the investment outlook for the second half of this year and beyond. Aberdeen Asset Management, Allianz Global Investors, APS Asset Management, Aviva Investors, Blackrock Investment Management, BNP Paribas Investment Partners, DBS Asset Management, Deutsche...
