Posts Tagged: New Year

 

Indonesia’s central bank has hiked the benchmark interest a full half a percentage point to 6.5 per cent.

That was a strong move to combat inflation after the government approved fuel price increases to cut high subsidy costs.

Economists had forecast a more muted quarter point rise to 6.25 per cent.

In June, Indonesia’s headline inflation came in at an annualised 5.9 per cent, from 5.5 per cent the previous month.

And HSBC forecasts inflation could peak at an annual rate of 8.5 per cent in December.

Indonesia’s food prices also look set to increase in August, as shoppers stock up for the Eid al-Fitr festival that celebrates the end of the Ramadan fasting month, as well as over the Islamic New Year in November.

 

The record sale comes as environmentalists warn that stocks of the majestic, speedy fish are being depleted worldwide amid strong demand for sushi.

In the year’s first auction at Tokyo’s sprawling Tsukiji fish market, the 489-pound tuna caught off northeastern Japan sold for the record price, said Ryoji Yagi, a market official.

The fish’s tender pink and red meat is prized for sushi and sashimi. The best slices of fatty bluefin – called “o-toro” – can sell for 2,000 yen (£14) per piece at upmarket Tokyo sushi bars.

The winning bidder, Kiyoshi Kimura, president of Kiyomura Co., which operates the Sushi-Zanmai restaurant chain, said “the price was a bit high,” but that he wanted to “encourage Japan,” according to Kyodo News agency.

He was planning to serve the fish to customers later on Saturday, although he did not say how much he planned to charge for a portion. >> Read More

 

The Nikkei index surged to a 22-month intraday high in early Tokyo trading Friday, bolstered by the U.S. Congress’ passage of a bill to avoid the fiscal cliff and the yen’s continued weakness against the U.S. dollar.

At 9:15 a.m., the 225-issue Nikkei Stock Average was up 290.64 points, or 2.80 percent, from Dec. 28 at 10,685.82, a level unseen since March 4, 2011. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 25.02 points, or 2.91 percent, at 884.82 in the first session of 2013.

All 33 sectors were in positive territory, led by carmakers, tire makers and insurers.

Japan’s financial markets were closed until Thursday for the New Year holidays.

 

We already knew that the US crossed the debt ceiling on New Year’s day. It is, however, one thing to read a Geithner press release, it is another to see America’s ridiculous debt it in action. So here it is, courtesy of TreasuryDirect, in all its debt ceiling glory: $16,432,730,050,569.12, with the debt subject to the ceiling at the limit of $16.394 trillion.

And with that we can close the books on the first quarter of Fiscal 2013, in which US public debt grew by $366 billion, some $122 billion per month on average. >> Read More

Boehner Issues Statement

02 January 2013 - 10:29 am
 

Moments ago, Boehner voted to enact “Obama’s tax cuts”, which is the new de facto Bush tax cuts (which expired yesterday), and which will raise the budget deficit over the next decade by $4 trillion, yet which at the same time paradoxically also hiked taxes on nearly three quarters of Americans with an emphasis on the wealthiest 1%. Now, Boehner also issues a statement to advise his constituency just what issue he will cave on next: spending.

House Speaker John Boehner (R-OH) issued the following statement following passage of the Senate agreement on the fiscal cliff:

 
 

“The federal government has a spending problem that has led to a $16 trillion national debt that threatens our country’s future.  On the day after the election, I proposed that both parties work together to avert the fiscal cliff in a manner that would ensure 2013 is the year we finally enact entitlement reform and pro-growth tax reform to begin to solve our country’s debt problem. >> Read More

 

What are our top trading resolutions for 2013?

D  iscipline

R  esults

I  ntegrity

V  ictory (Over Emotions)

E  ducation

Discipline

Most traders could benefit from being more disciplined with their trading. Discipline in trading takes many forms. But it can be summarized as just doing what we know needs to be done.

For example, a common New Year’s resolution is to lose weight. Losing weight is simple in theory—we just need to eat healthy foods and exercise more. Just say no to the doughnut and yes to the salad—simple! Of course, sticking to your plan is anything but easy, which is where discipline comes into play. Just do what we know needs to be done.

If I could target only two things to be more disciplined in next year’s trading they would be:

  1. Cut losing trades: Do everything to keep losses small.
  2. Let profits run: Don’t fall prey to the fear of a small profit slipping away. >> Read More

The Success Indicator

31 December 2012 - 15:01 pm
 

2012 – I barely knew you.  Another year has passed and another one is ahead.  This is the single best of time year when you can begin to think about all the things you want to improve or achieve in the upcoming year.  Time management and goal achievement is all about planning.  If you’re not thinking ahead you’re falling behind.

Anyhow, I really liked this image I saw on Facebook about the difference between the way successful people view the world and the way unsuccessful people view the world. Obviously, there is no single indicator that is going lead to success and there’s certainly no holy grail to success, but I think this provides some pretty good general guidelines.  A lot of these are things I need to do some serious work on.  I hope you find it helpful and thought provoking as you plan the new year:

Successful people:

Compliment others

Forgive others

Accept responsibility for their failures

Keep a journal

Want others to succeed

Keep a “to be” list

Set goals and develop life plans

Continuously learn

Operate from a transformational perspective

Have a sense of gratitude

Give other people credit for their victories

Read every day

Talk about ideas

Share info and data

Exude joy

Embrace change

Keep a “to do” list. >> Read More

 

In her new year message, the German chancellor warned that 2013 will be challenging , saying:

I know that many are also heading into the new year with trepidation. And indeed, the economic environment next year will not be easier, but more difficult. That should not discourage us, but – on the contrary – serve as an incentive.

And on the eurozone crisis, she was adamant that more work must be done, despite the progress made this year:

The European sovereign debt crisis shows us how important this balance is. The reforms we have agreed to are beginning to take effect. But we still need a lot of patience. The crisis is far from over.

More needs to be done internationally, as well, to monitor the financial markets. The world has not sufficiently learned the lesson of the devastating financial crisis of 2008. For never again must such irresponsibility be allowed to take hold as it did then. In the social market economy, the state is the guardian of order, and the public must be able to place its trust in it.

The full text is online, in English, here.

Weekend News

30 December 2012 - 8:20 am
 

The big event this weekend is the progress (or not) of the Fiscal Cliff negotiations in the US.

  • Obama is being interviewed on NBC’s Meet The Press, 10.30am ET (1530GMT) Sunday.
  • The US Congress’ House of Representatives reconvenes 6.30pm ET (2330GMT) Sunday. Early Asian markets will be open by then (but still in Christmas/New Year holiday mode; and also note its a holiday in Japan. Expect very thin liquidity and potential for exaggerated price moves).

In other items from the weekend so far:

  • France’s Constitutional Council has rejected the 75% upper income tax rate planned to be introduced by President Francois Hollande. In response, the government is redrafting the proposed law. Gerard Depardieu hasn’t commented, or moved back from Belgium.

“Fiscal Cliff” Update

30 December 2012 - 8:18 am
 

Not much … from the WaPo: Senators trade proposals into night to avoid ‘fiscal cliff’

Senate negotiators labored late into Saturday over a last-ditch plan to avert the “fiscal cliff,” struggling to resolve key differences over how many wealthy households should face higher income taxes in the new year and how to tax inherited estates.

As nightfall approached, top Democratic and Republican aides continued shuttling paperwork with the latest proposals back and forth between the two leaders’ offices, less than 50 steps apart.

If all goes according to plan, the leaders would roll out the legislation Sunday night and hold a vote by at least midday Monday, giving the House the rest of New Year’s Eve to consider the measure.

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Technically Yours,
Team ASR,
Baroda, India.