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24 December 2012
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News on the global financial markets

  Morning Bell 
  Industry News 
  • ETFs see influx as bonds' allure begins to fade
    Easing some fears of a bond bubble, global investors last week began shifting their money to stock exchange-traded funds, bearing the greater risk to pursue higher returns, according to fund-tracking firm EPFR Global. The move nonetheless closes out a strong year for US bonds as investors sought refuge in uncertain times. Reuters (21 Dec.) LinkedInFacebookTwitterEmail this Story
  • Investors expected to turn to individual nations, asset classes
    Investors have been wary of emerging markets. In 2013, however, they will be zeroing in on specific countries and asset classes, some market participants say. Consequently, the Argentina dollar debt has become the hot ticket, as well as the Polish zloty when compared with its Eastern European neighbours. "The big macro trends are done," said Pierre-Yves Bareau of the JPMorgan Emerging Markets Debt fund. "We are now focusing on differentiation, the differences in fundamental growth between one country and another." The Wall Street Journal/Dow Jones Newswires (21 Dec.) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • US regulator delays derivatives rules for foreign banks
    The US Commodity Futures Trading Commission has given foreign banks until mid-July to comply with derivative trading rules. "The relief period provides time for the Commission to work with foreign regulators as they implement comparable requirements," CFTC Chairman Gary Gensler said. Bloomberg (22 Dec.), Reuters (21 Dec.) LinkedInFacebookTwitterEmail this Story
  Spotlight on China 
  • China curbs bond issuance by companies with high debt
    China has moved to ban companies with high debt-to-asset ratios from issuing corporate bonds, though there are some exceptions. The move is intended to tamp down the risk of default. The Shanghai Securities News reports that $554 billion in corporate bonds were issued through November. That's a 77% increase from the same period in 2011. The Wall Street Journal (21 Dec.) LinkedInFacebookTwitterEmail this Story
  ASIFMA News 
  Editor's Note 
  • SmartBrief will not publish Tuesday
    In observance of Christmas, SmartBrief will not publish Tuesday. Publication will resume Wednesday. Enjoy the holiday! LinkedInFacebookTwitterEmail this Story
In seed time learn, in harvest teach, in winter enjoy."
--William Blake,
British poet and painter

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