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Bloomberg (December 6)

2017/ 12/ 07 by jd in Global News

“Every bull market is unique, but the one in China right now looks downright strange. The Shanghai Composite Index has climbed 24 percent from its January 2016 low, and yet a majority of stocks in the benchmark gauge have fallen during the period.” China has become a global outlier. “For all 45 of the other national equity gauges that have climbed at least 20 percent since last January, a majority of index members have recorded gains.”

 

Bloomberg (June 22)

2017/ 06/ 23 by jd in Global News

“In the culmination of a long-running saga, MSCI Inc. yesterday announced that it would include some Chinese stocks in its widely used benchmark indexes, starting next year.” The decision beggars belief. “China is undeniably an increasingly important market…. But lowering the standards of what constitutes a market and obfuscating real problems just exposes unknowing foreign investors to elevated risks. If Chinese investors and even regulators are so wary of Chinese stocks, why encourage foreigners to enter the fray?”

 

Financial Times (January 4)

2017/ 01/ 04 by jd in Global News

Whether “Abenomics remains a relevant force…may depend heavily upon the performance of the Nikkei 225 Average over the next six weeks.” If the “huge dip that savaged the benchmark” last year during the same period can be avoided, many analysts believe “we may be looking at a market with enough foreign buying and other support to sustain the current bull run.”

 

Reuters (January 29)

2016/ 01/ 29 by jd in Global News

“The Bank of Japan unexpectedly cut a benchmark interest rate below zero on Friday, stunning investors with a move aimed at shielding the country’s sluggish economy from volatile markets and slowing global growth.”

 

The Economist (September 12)

2015/ 09/ 13 by jd in Global News

“The last time the Federal Reserve raised its benchmark interest rate, there was no one to tweet about it.” That was in June 2006 before Twitter’s IPO. “Nine years on, as the Fed readies itself to raise rates again, the public debate between hawks and doves is much noisier.” Even though markets are counting on least one rate rise this year, “it does not pay to go early: a rise now would needlessly risk America’s recovery.”

 

Wall Street Journal (November 3)

2014/ 11/ 04 by jd in Global News

“Moscow may have a currency crisis on its hands.” For the year the ruble has sunk 22% against the dollar, trailing only “Argentina as the biggest emerging-market currency loser.” Though the faltering Russian economy could benefit from lower interest rates, “the Bank of Russia raised its benchmark interest rate to 9.5% from 8% on Friday in an attempt to stop a run on the ruble and stem inflation, but the ruble kept falling even after the rate hike.”

 

Investments & Pensions Europe (November Issue)

2013/ 11/ 24 by jd in Global News

Awareness has grown “that institutional investors who define their job as beating the peer group benchmark are being irresponsible.” With that realization, responsible investment has reached the first stage. Today, “the challenge for ESG 2.0 is to learn to manage the modern risks that are linked to long-horizon stewardship investing.”

 

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