It may appear at first glance we are becoming an Elon Musk news page. This however is not born out our interest in him but rather his interest in being in the media spotlight and his seemingly inherent generation of risk therein. Musk made headlines at time of writing for announcing over Twitter that he…
On Friday past and over the weekend Tesla CEO Elon Musk posted a bizarre series of tweets ranging from at best, quoting lines from the Star Spangled Banner, to at worst declaring that, in his personal opinion, “Tesla stock price is too high imo”. As you can probably imagine the markets did not enjoy…
There is an old saying that goes when America sneezes the world catches a cold, well when Warren Buffet sneezes, the markets catch a cold. At Berkshire Hathaway’s annual meeting, Warren Buffet announced that they had sold all of their major US airline holdings. This to many would come as no surprise. With restrictions on…
Seasonally adjusted GDP decreased by 3.8% in the euro area and by 3.5% in the EU during the first quarter of 2020, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. These were the sharpest declines observed since time series started in 1995.…
key information documents (PRIIPs-KID). Among other things, this review involves the forward-looking performance scenarios presented up to now. Based on the results of a consultation, the European Supervisory Authorities (ESAs) intend to propose using past performance as the basis of performance information for funds. However, the EU Commission is opposed to this proposal. The Commission…
Heightened volatility in the Indian capital markets caused by COVID-19 have resulted in liquidity strains for a number of mutual funds. These strains have intensified in the wake of Franklin Templeton closing six debt mutual funds last week. With a view to easing liquidity pressures on Mutual Funds, the Reserve Bank of India has decided…
In a bid to stimulate Japan’s economy, The Bank of Japan (BoJ) has removed the cap on quantitative easing by removing guidance that it would only buy government bonds worth up to 80 trillion yen (£59bn) a year. Additionally, the BoJ has raised a cap on holdings of business debt including commercial paper and corporate…
Franklin Templeton Mutual Fund has announced it will wind up six yield-oriented, managed credit funds in India citing severe market liquidity issues caused by the COVID-19. “The decision has been taken in order to protect value for investors via a managed sale of the portfolio,” the Fund said in a statement. Source: https://on.ft.com/2S6ufr3
ECB to grandfather until September 2021 eligibility of marketable assets used as collateral in Eurosystem credit operations falling below current minimum credit quality requirements Appropriate haircuts will apply for assets that fall below the Eurosystem minimum credit quality requirements Decision reinforces broader package of collateral easing measures adopted by the Governing Council on 7 April…
Brent crude oil rebounded on Wednesday and continued to do so in Asia trading on Thursday morning. The gains come after Donald Trump tweeted: “I have instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea,” The prospect of renewed tensions in the…