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Greece hires Lazard to advise on debt

01 February 2015 - 18:40 pm

The Greek government has hired US investment bank Lazard to advise it on its debt burden as it prepares to enter talks with the troika of international lenders that has overseen its four-year bailout programme.

Since the far-left Syriza party won last weekend’s elections it has alarmed creditors and investors with pledges to freeze privatisations, rehire state workers and roll back reforms adopted by previous administrations as part of the bailout.

But on Saturday, Greek prime minister Alexis Tsipras issued a statement saying he was confident “we will soon manage to reach a mutually beneficial agreement, both for Greece and for Europe as a whole”.

“No side is seeking conflict and it has never been our intention to act unilaterally on Greek debt,” Mr Tsipras said, adding that his approach “in no way entails that we will not fulfil our loan obligations to the ECB or the IMF”.
>> Read More

Seeing is not observing

01 February 2015 - 18:05 pm
 

seeingincorrectly

Read all the three sentence given below. >> Read More

 

Bill Gross poses at investment firm Janus Capital Group, Inc. in Denver, Colorado in this undated handout photo provided by Figge Photography on October 10, 2014. Gross, in his first public appearance since his shocking departure from Pimco, said there will be more flexibility in managing less money at Janus Capital Group Inc, but said he was disappointed over being forced to leave Pimco. REUTERS/Figge Photography/Handout via Reuters (UNITED STATES - Tags: BUSINESS PROFILE) ATTENTION EDITORS - NO SALES. NO ARCHIVES. FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS

Veteran bond investor Bill Gross has called Mario Draghi’s long-awaited plan to revitalise the eurozone economy with a €60bn-a-month bond-buying programme “too little, too late”.

Mr Gross, who founded Pimco, the world’s largest bond manager, but decamped to Janus Capital last year, said he believed the European Central Bank president had no option but to push ahead with his version of quantitative easing. But he warned that its success would be hampered by the fact Mr Draghi took so long to implement his asset purchasing plan.

The former Pimco chief executive told the Financial Times: “Draghi had no choice [with regards to QE] but it comes far too late. That will become his problem.”

Mr Gross said the delay and subsequent fall in interest rates across Europe raises doubts as to whether banks — the pipeline between quantitative easing and the real economy — will use the money to lend.

“I don’t think QE will work as well in Europe as it did in the US.” he said. “There are only a limited amount of securities to buy and interest rates are now so low that it’s not necessarily the case that [banks will use] the money to invest in the real economy. I do wonder if much good can come of it.”

The 70-year-old has something of a chequered history with QE. He had what he called a “stinker” of a year in 2011, missing a rally in US treasuries after wrongly assessing the implications of bond buying in US. In 2013 he also misjudged the timing and impact of the Fed’s plan to scale back its asset purchases. That mistake contributed to the biggest decline in almost two decades for Pimco’s giant Total Return fund. >> Read More

 

Jet fuel (ATF) price was today cut by a steep 11.3 per cent and now costs less than diesel.

Last month, its rate had fallen below the price at which petrol is sold.

While petrol and diesel prices have so far not been changed as per the fortnightly revision, non-subsidised domestic cooking gas (LPG) was cut by Rs 103.5 per cylinder to Rs 605 a cylinder after international oil prices slumped to near six-year lows.

The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was cut by Rs 5,909.9 per kilolitre, or 11.27 per cent, to Rs 46,513.02 per kl, oil companies announced today.

The reduction, which followed possibly the steepest ever cut of Rs 7,520.52 per kl or 12.5 per cent effected from January 1, has led to ATF becoming cheaper than even diesel.

Last month’s reduction saw the ATF price slip to Rs 52.42 a litre, below Rs 58.91 a litre cost of petrol in Delhi. And after today’s cut it costs Rs 46.51 per litre and is cheaper than diesel that sells at Rs 51.52 per litre. >> Read More

 

NIFTY-0102

“Every market has its personality, and that personality is defined by two traits: Volatility and Trendiness. A volatile market is one that moves a great deal from time period to time period. A trendy market is one that tends to move in the same direction from one period to the next. Over time, markets change their personalities, which is to say they change their volatility and trending. This is part of what makes markets so difficult to trade: just as traders adapt to one market personality, another is likely to take its place.” 

Last Close :8808

Above is Daily Chart of NIFTY

Crucial Support at 8764—————————8706 level.

Yes ,Break and close below 8706 level will create MORE PANIC + Bloodbath 

Target :8531–8473 level.

Hurdle for Traders at 8830—————–8844 level.

If Crosses 8844 level then ……..More Updates/Details……..Tomorrow Morning !

Updated at 14:15/01st Feb/Baroda/India

 

Overseas investors pumped in a staggering Rs 33,688 crore in capital markets last month, making it the highest investment in six months owing to easing inflation and rate cut by Reserve Bank of India (RBI).

Foreign Institutional Investors (FIIs) bought shares worth Rs 12,919 crore ($2.1 billion) in January, while they bought debt worth Rs 20,769 crore ($3.34 billion), taking the total investment to Rs 33,688 crore ($5.45 billion), latest data with Central Depository Services Ltd (CDSL) showed.

This is the highest investment since July when overseas investors had poured in Rs 36,046 crore.

These investors got re-christened as FPIs or Foreign Portfolio Investors last year under a new regulatory regime that promises to make it easier for them to invest in India.

Market analysts attributed the huge inflow to low inflation levels and rate cut by RBI. The central bank on January 14 surprised market participants with a 25 basis point rate cut.

Besides, foreign investors are betting on Indian capital markets on expectations of more rate cuts by the central bank.

In 2014, the net investment by overseas investors into the debt markets was Rs 1.16 lakh crore, while in equities it stood at Rs 98,150 crore.

Overall, net investment by foreign investors stood at Rs 2.58 lakh crore in 2014.

 

INDEX-SWISS FRANC

Above is Daily Chart of SWISS FRANC INDEX

Major Support at 107.43 level.

Now ,Three Consecutive close below 107.43 +Weekly close if happens then ??

Nonstop Panic upto 103.335–101.96 is possible.

hurdle2

Hurdle at 110.6625——————————-111.418 level.

Yes ,Will Update More to our Subscribers ,Updated at 1:30/01st Feb/Baroda

 

It is wrong to think that contagion stems only from Grexit. An excessive compromise with Greece could result in moral hazard, particularly in relation to structural reforms. This could undermine the medium-term stability of the euro area. The tail risk is that Greek politicians try to leverage too much the fear of Grexit “contagion risk”. We complete our analysis by looking at the vulnerability of other euro peripherals and the ex-post tools to limit contagion.

Female fund managers in decline

01 February 2015 - 12:38 pm
 

The number of female portfolio managers running money in the US has fallen every year for the past six years despite continued efforts to try and bring more women into frontline asset management.

According to figures from Morningstar, the data provider, the ratio of male to female fund managers has widened each year since 2009, prompting condemnation from diversity campaigners who believe investors are ultimately being harmed by the huge gender gap between male and female managers.

Helena Morrissey, chief executive of BNY Mellon subsidiary Newton and a leading activist for gender equality in the workplace, said: “This bothers me because I truly believe portfolio management is a great choice of career for women. Fund companies and their clients are losing out [as a result of the falling number of female fund managers]. But I am not shocked or surprised.”

The data, given to news service 929 Media, found that female portfolio managers now account for less than 7 per cent of the 7,293 money managers running US mutual funds, down from just over 10 per cent in 2009. >> Read More

 

UPDATE-INR-INDEX

Above is Daily Chart of INR INDEX

On 23rd Jan ,We had Boldly written this :

http://www.anirudhsethireport.com/indian-rupee-index-slide-upto-61-125-60-76-on-card/

It kissed low of  61.23 & taken U-TURN !

Yes ,Trade with eyes open and Mint ………….Tons of Money !

Rally upto 62.45———–62.60 is possible ,Now if crosses and stays above 62.60 …..Watch Blast upto  63.06-63.21

101% More Details to our Forex Subscribers ,Updated at 11:12/01st Feb/Baroda/India

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Technically Yours,
Team ASR,
Baroda, India.