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13 March 2013
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  Top Stories 
 
  • SWF assets will continue to increase, study finds
    TheCityUK has released a study showing that sovereign-wealth funds' assets likely will reach $5.6 trillion by year-end. "SWFs should see a continuation in the inflow of capital in the coming years as some Asian countries, particularly China, continue to build up foreign exchange reserves, and commodity demand increases with the recovery in the global economy and growth in demand from emerging markets," according to the study. Reuters (12 Mar.) LinkedInFacebookTwitterEmail this Story
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  Reader Survey 
  • Which of the following policy goals in China are most likely to be achieved by the end of the new leadership's "10-year term"?
Lowering the GDP share of infrastructure investment spending and net exports, while increasing domestic consumption
Fighting corruption, eliminating bureaucracy and encouraging government officials to conduct themselves honorably
Improving social fairness and income equality within the "scientific development" framework
Reforming the capital markets as well as liberalizing the renminbi and interest rates

  Market Activity 
 
  • Ireland plans return to full market funding
    The Irish National Treasury Management Agency plans to issue the country's first benchmark 10-year bond since receiving aid from the EU and the International Monetary Fund in 2010. Demand for the bond is expected to be strong. "It will be significantly well oversubscribed," said Ryan McGrath of Dolmen Securities. "There is a lot of demand that had been waiting for the bond issuance for the last number of weeks." Reuters (12 Mar.), The Wall Street Journal/Dow Jones Newswires (12 Mar.) LinkedInFacebookTwitterEmail this Story
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  Economics 
 
  • Audi aims to dethrone BMW as top luxury carmaker
    Germany's Audi said it is counting heavily on an expanded line of sport utility vehicles to boost sales and replace rival BMW as the world's leading manufacturer of luxury cars by decade's end. Audi said it will invest $14.3 billion by 2015 to make more models and expand total production. Bloomberg (12 Mar.), Hindustan Times (India) (12 Mar.) LinkedInFacebookTwitterEmail this Story
  • Colombian president aims to remove economic "black clouds"
    Colombian President Juan Manuel Santos says he has started "almost permanent dialogue" with business and agricultural leaders to find a solution to "black clouds" lingering over the economy. Coffee growers, key to the Colombian economy, were hit by a recent strike, and rice growers are scheduled to strike Tuesday. A 32-day strike at the nation's biggest coal mine has ended with the signing of a three-year deal. Prensa Latina (Cuba) (12 Mar.), Bloomberg (11 Mar.) LinkedInFacebookTwitterEmail this Story
  • Analysis: There's still no proof tax cuts boost growth
    The argument that reducing taxes increases economic growth dates back to the 1980s, but economists haven't found evidence to prove that it is true, Eduardo Porter writes. Comparing the U.S. with countries with a higher tax burden doesn't clarify the picture. During the past 40 years, the U.S. grew a little faster than Australia and France but a little slower than Austria, Germany and the Netherlands, Porter writes. The New York Times (tiered subscription model) (12 Mar.) LinkedInFacebookTwitterEmail this Story
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  Geopolitical/Regulatory 
  • Regulator will consider simplifying Basel III
    Criticism that Basel III rules, which require banks to hold more capital against possible losses, are too complex is prompting the Basel Committee on Banking Supervision to re-examine the rules. "A vigorous public debate has developed recently as to whether the Basel regulatory framework strikes an appropriate balance among different desirable characteristics: simplicity, comparability and risk sensitivity," Chairman Stefan Ingves said. Reuters (12 Mar.), Bloomberg (12 Mar.), The Wall Street Journal/Dow Jones Newswires (12 Mar.) LinkedInFacebookTwitterEmail this Story
  • Australian regulator warns of added risk in exchange M&A
    Greg Medcraft, chairman of the Australian Securities and Investments Commission, says investors' risk might increase because mergers among exchange operators would mean fewer bodies handling trading and clearing of derivatives. "It's a logical conclusion that if everything's going through two clearinghouses, there's a concentration of risk," Medcraft said. Bloomberg (11 Mar.) LinkedInFacebookTwitterEmail this Story
  • FSA expresses concerns about banks' wealth management
    The U.K. Financial Services Authority is raising questions after reviewing sales practices at several banks' wealth-management units. "The preliminary results of our latest review into the wealth-management divisions of six retail banks are worrying," Managing Director Martin Wheatley said. Bloomberg (12 Mar.), Reuters (12 Mar.) LinkedInFacebookTwitterEmail this Story
CFA Institute: 2013 Asset and Risk Allocation
15-16 April 2013
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  Financial Products 
  • Barclays debuts ETN investing in MLPs
    Trading is set to begin on NYSE Arca for an exchange-traded note from Barclays that buys equity stakes in master limited partnerships. The Barclays ETN+ Select MLP ETN tracks the Atlantic Trust Select MLP Index and is expected to generate a 12.5% annual return. IndexUniverse.com (12 Mar.) LinkedInFacebookTwitterEmail this Story
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  Ethics 
  • Google settles privacy-violation claims for $7M
    Google has agreed to a $7 million settlement with U.S. state officials who were examining the Internet giant's Street View program. As part of the settlement, Google will launch a campaign to inform the public about the importance of securing wireless networks and will improve privacy training for employees. The Washington Post (12 Mar.) LinkedInFacebookTwitterEmail this Story
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