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- Japan's Abe affirms inflation targeting in tandem with fiscal stimulus
Japanese Prime Minister Shinzo Abe affirmed that the Bank of Japan must work to meet the 2% inflation target but said fiscal stimulus is a necessary partner in the effort to revive the nation's economy. "It is possible to achieve the 2% inflation target with monetary policy, but fiscal stimulus is needed to support the economy as well because it would take time for wages to start rising," Abe told lawmakers. Fox Business/Reuters
(2/12)
    
- U.S. job openings down in December
Adding to signs of a sluggish U.S. labor market, the number of job openings in December dropped from the previous month. But the downturn may have been due to year-end anxieties centered on uncertainties over raising the U.S. debt limit. Looking ahead, however, "we're still going to see that relatively modest pace of advancement in the first part of 2013 as businesses wait to see how the adjustments with payroll taxes and spending cuts affect the economy," said Russell Price, a senior economist at Ameriprise Financial. Bloomberg Businessweek
(2/12)
- U.S. Fed vice chair voices skepticism of austerity
Economic growth in the U.S. and Europe may be weakened by misguided austerity policies, U.S. Federal Reserve Vice Chair Janet Yellen said. Higher unemployment and stymied growth, Yellen said, could undermine the purported purpose of continued fiscal restraint. Reuters
(2/11)
- Moody's sees waning global risk amid sub-trend growth
Although its overall forecast for the world economy is little changed, the risks that recently threatened have abated somewhat, the rating service says. "We still expect a subdued global recovery with sub-trend growth in most advanced economies over the near term, alongside a relatively soft pace of expansion in emerging markets as well," Moody's says, The Economic Times (India)/Reuters
(2/12)
- S&P parent says U.S. fraud case is unsupported by evidence
Standard & Poor's parent McGraw-Hill dismisses the U.S. government's $5 billion lawsuit in connection with the economic meltdown, saying the case is weak. "The company does not believe the Department of Justice can prove that this failure -- common to nearly everyone at the time -- was the product of intentional misconduct by anyone at S&P," McGraw-Hill said. However, the company opened the door to what it described as a reasonable settlement. Reuters
(2/12)
- Emerging-market banks gain as big banks retrench
China's Citic Securities is among the investment banks in emerging markets that are gathering new business as their big Western counterparts lose share due to new regulation and cost-cutting pressures. "It's always the case in banking -- as one set of players goes off the pitch because they’re injured, you get another set of players who come on to try and play the same game," said Paul Skelton, Dubai-based regional co-head of global banking in the Middle East and North Africa for HSBC Holdings. Bloomberg
(2/11)
 | Reining in Risk
CFA Institute report: Investors need better disclosure of derivatives and hedging activities
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| Market Activities
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- INTERNATIONAL MARKETS OVERVIEW
Bank shares led by Barclays, with announced plans for a new global strategy, helped elevate stocks Tuesday in Europe. In the U.S., earnings reports and anticipation over President Barack Obama's State of the Union speech kept a lid on shares. The Stoxx Europe 600 rose 0.51% to 287.07, and the S&P 500 added 0.16% to 1,519.43. Here is a continuously updated list of global stock indexes. The Wall Street Journal
(2/13)
, The Wall Street Journal
(2/12)
, CNNMoney
(2/12)
- Asian shares advance; Kospi hesitates as North Korea tests nuke
Asian shares were generally up, led by Japan on further indications of aggressive monetary policy. But South Korean shares fell back a bit as North Korea announced another nuclear test. The Nikkei surged 1.94% to 11,369.12, the Hang Seng edged up 0.16% to 23,215.16 and the S&P/ASX was virtually unchanged at 4,958.98 while the Kospi lost 0.26% to 1,945.79. Bloomberg Businessweek
(2/12)
| Economic Trends & Outlook
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- Australia business confidence ticks up, but signs of weakness spread
Although Australian business sentiment improved a bit last month, there were also indications that weakness was spreading to more sectors, according to National Australia Bank. "People are a little bit more relaxed because the equity market's gone up ... but I still think the economy is now starting to soften significantly and we're seeing for the first time some signs that the stronger parts of the economy are starting to weaken a little bit," said NAB chief economist Alan Oster. The Sydney Morning Herald (Australia)
(2/12)
- Indonesia sticks with record-low benchmark rate
Inflationary pressure was probably a factor as Indonesia's central bank elected not to adjust its benchmark interest rate, which is already at a record-low 5.75%. "By keeping the rate, Indonesian 10-year bonds are more attractive compared to other countries. Indonesia remains an investment destination and it will have a positive impact on the rupiah," commented Branko Windoe, head of treasury at PT Bank Central Asia. Bloomberg Businessweek
(2/12)
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CFA Institute Financial NewsBrief: Asia Pacific Edition Issues:
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