Foreign Exchange Markets 2010 Part 3: Shaw Capital Management
The recent State of the Union message to Congress by President Obama included a request for
the approval of a further fiscal stimulus package this year amounting to around $100 billion to
help to tackle the unemployment problem, and he has also presented a $3.
8 trillion...
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Foreign Exchange Markets 2010 Part 3: Shaw Capital Management The recent State of the Union message to Congress by President Obama included a request for the approval of a further fiscal stimulus package this year amounting to around $100 billion to help to tackle the unemployment problem, and he has also presented a $3. 8 trillion budget for fiscal 2011 that is likely to maintain the overall deficit around the $1. 35 trillion level expected this year. Foreign Exchange Markets 2010 Part 3: Shaw Capital Management - Much will depend on the attitude of overseas holders, and especially on the attitude of the Chinese and Japanese authorities. For the present they seem to be prepared to maintain and even increase their dollar exposure; and if this continues, and the problems of other major currencies remain unresolved, it should be enough to allow the dollar to “improve”. The euro struggled to recover in the early part of January from the big fall that occurred in December; but the recov
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Shaw Capital Management News -Foreign Exchange Markets 2010 Part 4
Prospects therefore remain disappointing, and are being made worse by the differences that
exist between member countries.
The European Central Bank therefore faces a difficult
situation.
It continues to forecast “moderate” growth and “moderate” inflation; but...
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Shaw Capital Management News -Foreign Exchange Markets 2010 Part 4 Prospects therefore remain disappointing, and are being made worse by the differences that exist between member countries. The European Central Bank therefore faces a difficult situation. It continues to forecast “moderate” growth and “moderate” inflation; but it is being severely criticised for failing to address the problems of a two-speed economy, and for its unwillingness so far to face the threat that the deteriorating situation in Greece could quickly begin to destabilise other member countries and have serious consequences for the financial stability and growth prospects of the entire area. It is not surprising therefore that investors and speculators have started to reduce their exposure to the euro. Shaw Capital Management News - Foreign Exchange Markets 2010 Part 4: - The critical question therefore is whether the fall of the euro is now over. Since the currency is unlikely to receive any real support fro
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Shaw Capital Management Korea: World Economy and Raw Material Shortages
Shaw Capital Management Korea: World Economy and Raw Material Shortages - We have
seen major developing economies like China and India apply the brakes earlier this year, as
inflation grew on the back of commodity shortages.
World growth was running at 4.
5%, only...
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Shaw Capital Management Korea: World Economy and Raw Material Shortages Shaw Capital Management Korea: World Economy and Raw Material Shortages - We have seen major developing economies like China and India apply the brakes earlier this year, as inflation grew on the back of commodity shortages. World growth was running at 4. 5%, only 1% or so below the record growth rates of the mid2000s. This was too fast for raw material supplies to accommodate with current technology. Shaw Capital Management Korea: - World productivity growth has been slowed down by this raw material shortage … this in our view was the cause of the sharp slowdown in 2006 which in its turn caused the collapse of demand for houses in the US and so the sub-prime crisis. It will take a decade for new technology and possibly new supplies to allow renewed productivity growth; with plentiful supplies of raw materials this was the era of computer-led growth in productivity. As growth has been slowed worldwide, so alre
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Lack of Raw Material and the World Economy: Shaw Capital Management Article
Shaw Capital Management Korea News Release - We have seen major developing economies
like China and India apply the brakes earlier this year, as inflation grew on the back of
commodity shortages.
World growth was running at 4.
5%, only 1% or so below the...
Di più
Lack of Raw Material and the World Economy: Shaw Capital Management Article Shaw Capital Management Korea News Release - We have seen major developing economies like China and India apply the brakes earlier this year, as inflation grew on the back of commodity shortages. World growth was running at 4. 5%, only 1% or so below the record growth rates of the mid-2000s. This was too fast for raw material supplies to accommodate with current technology. Lack of Raw Material and the World Economy: Shaw Capital Management Article - World productivity growth has been slowed down by this raw material shortage … this in our view was the cause of the sharp slowdown in 2006 which in its turn caused the collapse of demand for houses in the US and so the sub-prime crisis. It will take a decade for new technology and possibly new supplies to allow renewed productivity growth; with plentiful supplies of raw materials this was the era of computer-led growth in productivity. As growth has been slow
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Shaw Capital Management March Newsletter: Japanese Government Submits Budget for Next
Fiscal Year
Shaw Capital Management: Japanese Government Submits Budget for Next Fiscal Year
Japanese Government Submits Budget for Next Fiscal Year: Shaw Capital Management News
The Democratic Party of Japan (DPJ) government submitted to the Diet the...
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Shaw Capital Management March Newsletter: Japanese Government Submits Budget for Next Fiscal Year Shaw Capital Management: Japanese Government Submits Budget for Next Fiscal Year Japanese Government Submits Budget for Next Fiscal Year: Shaw Capital Management News The Democratic Party of Japan (DPJ) government submitted to the Diet the fiscal 2010 budget amounting to ¥92. 3 trillion, its first budget since its inauguration in mid-September. The budget was even larger than its counterpart for the current fiscal year — which was already a record if one includes the second supplementary stimulus package, approved last December. This was because of additional spending on child allowances, free senior high school education, cash subsidies to farmers, and higher payments to medical institutions to alleviate the shortage of medical doctors. Particularly noteworthy is the large amount devoted to social security, up to ¥27. 3 trillion, which account for 51% of general public spending … the f
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Shaw Capital Management Korea: Japan’s Economic Growth Slowed Again Part 1
Japan’s economic recovery appears to have faltered unexpectedly sharply during the second
quarter of this year.
The government’s preliminary GDP statistics put the real quarter-to-quarter
growth rate at 0.
1%, which translates into an annualised 0.
4%,...
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Shaw Capital Management Korea: Japan’s Economic Growth Slowed Again Part 1 Japan’s economic recovery appears to have faltered unexpectedly sharply during the second quarter of this year. The government’s preliminary GDP statistics put the real quarter-to-quarter growth rate at 0. 1%, which translates into an annualised 0. 4%, marking an expansion for the third consecutive quarter. Shaw Capital Management Korea: Japan’s Economic Growth Slowed Again Part 1 - This represents, however, a striking slowdown from the 0. 4% quarterly growth, or annualised 4. 4% growth, recorded in the preceding three months. It also fell far short of the median forecast of private-sector economists of annualised 2. 3% growth over the preceding period. Moreover, in nominal terms Japanese GDP has fallen behind China’s: US$1,336. 9 billion for China against US$1,288. 3 billion for Japan for the quarter. Shaw Capital Management Korea: Japan’s Economic Growth Slowed Again Part 1 - Looking at individual demand
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Shaw Capital Management Newsletter: Japan Submits Budget for 2010
The Democratic Party of Japan (DPJ) government submitted to the Diet the fiscal 2010 budget
amounting to ¥92.
3 trillion, its first budget since its inauguration in mid-September.
The budget
was even larger than its counterpart for the current fiscal year — which was...
Di più
Shaw Capital Management Newsletter: Japan Submits Budget for 2010 The Democratic Party of Japan (DPJ) government submitted to the Diet the fiscal 2010 budget amounting to ¥92. 3 trillion, its first budget since its inauguration in mid-September. The budget was even larger than its counterpart for the current fiscal year — which was already a record if one includes the second supplementary stimulus package, approved last December. This was because of additional spending on child allowances, free senior high school education, cash subsidies to farmers, and higher payments to medical institutions to alleviate the shortage of medical doctors. Particularly noteworthy is the large amount devoted to social security, up to ¥27. 3 trillion, which account for 51% of general public spending … the first time that the social security share has exceeded 50%. In marked contrast, public works investment, which has been cut back by almost 20%, amounts to ¥5. 8 trillion, a record drop that symbolize
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Japan’s Economic Growth Slowed Again Part 2: Shaw Capital Management Article
Japan’s Economic Growth Slowed Again Part 2: Shaw Capital Management Article - Japan’s
economic recovery appears to have faltered unexpectedly sharply during the second quarter of
this year.
The government’s preliminary GDP statistics put the real...
Di più
Japan’s Economic Growth Slowed Again Part 2: Shaw Capital Management Article Japan’s Economic Growth Slowed Again Part 2: Shaw Capital Management Article - Japan’s economic recovery appears to have faltered unexpectedly sharply during the second quarter of this year. The government’s preliminary GDP statistics put the real quarter-to-quarter growth rate at 0. 1%, which translates into an annualised 0. 4%, marking an expansion for the third consecutive quarter. It is well-known that Japanese GDP data are volatile and subject to drastic revisions in both directions. Nevertheless, these data suggest that the economy has slowed considerably. Japan’s Economic Growth Slowed Again Part 2: Shaw Capital Management Korea - This has raised concern that the nation’s economic recovery may come to a standstill in the latter half of the fiscal year in the midst of an evident global slowdown of recovery. Shaw Capital Management Korea Newsletter - Export growth is expected to weaken in line with t
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Foreign Exchange Markets 2010: Shaw Capital Management
The main feature of the foreign exchange markets over the past month has been the further
sharp fall in the euro.
There has been no real change in the background economic situation in
the euro-zone; but there has been a serious deterioration in the financial background as doubts...
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Foreign Exchange Markets 2010: Shaw Capital Management The main feature of the foreign exchange markets over the past month has been the further sharp fall in the euro. There has been no real change in the background economic situation in the euro-zone; but there has been a serious deterioration in the financial background as doubts have increased about the ability of Greece and some other periphery countries to cope with their massive fiscal deficits and service their sovereign debts. Foreign Exchange Markets 2010: Shaw Capital Management Korea: This is clearly leading to a withdrawal of international funds from the European capital markets, and is dramatically illustrated in the widening of yield spreads in the bond markets of member countries. There is still a general assumption that the stronger members will provide support for the weaker members if this proves to be necessary to prevent a default on sovereign debts. But the uncertainties have been increased by conflicting stat
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Shaw Capital Management Korea: World Economy and Raw Material Shortages
Shaw Capital Management Korea: World Economy and Raw Material Shortages - We have
seen major developing economies like China and India apply the brakes earlier this year, as
inflation grew on the back of commodity shortages.
World growth was running at 4.
5%, only...
Di più
Shaw Capital Management Korea: World Economy and Raw Material Shortages Shaw Capital Management Korea: World Economy and Raw Material Shortages - We have seen major developing economies like China and India apply the brakes earlier this year, as inflation grew on the back of commodity shortages. World growth was running at 4. 5%, only 1% or so below the record growth rates of the mid2000s. This was too fast for raw material supplies to accommodate with current technology. Shaw Capital Management Korea: - World productivity growth has been slowed down by this raw material shortage … this in our view was the cause of the sharp slowdown in 2006 which in its turn caused the collapse of demand for houses in the US and so the sub-prime crisis. It will take a decade for new technology and possibly new supplies to allow renewed productivity growth; with plentiful supplies of raw materials this was the era of computer-led growth in productivity. As growth has been slowed worldwide, so alre
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Pub. il Gen 6th 2011
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