Further JPY depreciation looks unlikely
Jun 25, 2015 11:09 am UTC| Commentary
The JPY appears to be caught between two powerful and opposing forces, on one side, the BoJs QQE program and portfolio outflows by Japanese investors. On the other, JPYs extraordinary cheapness, which is attracting...
Taiwan CBC waits calmly for late summer lift
Jun 25, 2015 11:07 am UTC| Commentary
The Central Bank of Republic of China (Taiwan) kept its policy rate unchanged at 1.875% at its June quarterly board meeting, in line with our expectations and consensus. This is the 16th consecutive meeting at which the...
China's local government likely to restructure debt
Jun 25, 2015 10:28 am UTC| Commentary
The grand plan for local government debt restructuring is quite clear now. The central government has probably finalised the count of total local government debt and should make an announcement soon, says Societe Generale....
China's fiscal reform to bring more credit risk
Jun 25, 2015 10:28 am UTC| Commentary
The fiscal reform has started to limit local governments ability to extend credit guarantees at a time of slowing domestic growth and tightening global liquidity. Local governments have played a critical role along the...
China's domestic financial system funds over 95% of all debt, dominated by state-owned institutions
Jun 25, 2015 10:21 am UTC| Commentary
Chinas Policy and state-owned banks account for over 60% of total banking, and own close to 60% of all domestic non-financial bonds.Even in the shadow banking system, a majority of the big players, including trust and...
China to go through debt restructuring
Jun 25, 2015 10:14 am UTC| Commentary
Over the coming decade, the Chinese economy will go through a phase of intense reform, debt restructuring will be part of the transformation and has already begun in earnest.The state sector, including state-owned...
No clear direction on the cotton market
Jun 25, 2015 09:48 am UTC| Commentary
The cotton price has been fluctuating within a sideways trend in recent weeks. The most-active contract (due in December) is currently priced at a good 64 US cents per pound.The cotton market appears to be lacking any...
Canada needs a national strategy for homeless refugee claimants
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