|ETFS US Precious Metals Weekly:Precious Metals Rally After Greek Bailout Deal Agreed-continued|
|February 21, 2012--Greek bailout agreement pushes precious metals prices higher.|
Gold, silver, platinum and palladium prices all rallied strongly in early London trade following the news overnight that Eurozone leaders agreed to a €130bn Greek bailout package. The agreement appears to have convinced investors who have been sitting on cash to deploy funds across markets, with silver seeing the strongest immediate price response. Improved sentiment towards Europe has buoyed the Euro/USD exchange rate in recent days, adding further support to precious metals prices.
|While a number of hurdles to pushing the package through remain,
including agreement by individual European country parliaments, it
appears that Greece will – at least for now – avoid the worst case scenario
of a disorderly debt default. The boost to risk sentiment from this
agreement, together with recent improvements in US macro data and
further central banking monetary easing (including China’s 50bp reserve
requirement cut last week) is likely to keep a firm tone to the more cyclical
precious metals such as silver, platinum and palladium.
Gold demand hits 14-year high. In the latest edition of the World Gold Council’s (WGC) Gold Demand Trends released last week, it revealed that gold demand hit a 14-year high of 4067 tonnes in 2011, buoyed by record investment demand. Although investment demand jumped 5% to record levels, jewellery demand partially offset the gains, dropping by 3%. The headline decline in jewellery demand masked an interesting underlying trend: China’s demand surged by 13%, while India, the world’s largest jewellery market, experienced a 14% fall in jewellery demand in tonnage terms. The WGC also notes that Official sector gold purchases are now at a 47-year high. Once a source of gold supply, the official sector bought a multi-decade high of 440 tonnes last year.
Riots threaten PGM production in South Africa. The Rustenberg mine, the world’s largest platinum mine and responsible for 15% of global production, faces prolonged stoppages after riots broke out last week. Implats, the operator of the mine, had re-hired 6,000 of the 17,000 workers it had fired in January 2012 following a strike which the company deemed illegal. Implats has estimated that the 35-day strike has cost the company 60,000 ounces in lost output, around US$155milion. Implats CEO has indicated that production could be restored to normal within’two to four weeks’, however the rioting is deterring workers from returning to their jobs after one reported fatality. The hit to supply has added further impetus to platinum and palladium prices increases.
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|Source: ETF Securities|
|Global ETP News|
|IMF Working paper-Determinants of Financial Market Spillovers: The Role of Portfolio Diversification, Trade, Home Bias, and Concentration|
|October 17, 2014-- Summary: This paper defines financial market spillovers as the comovement between two countries' financial markets and analyzes financial market spillovers over the period 2001-12 through four channels: bilateral portfolio investment, bilateral trade, home bias, and country concentration. The paper finds that, if a country has a large amount of bilateral portfolio exposure in another country, these two countries' comovement of bond yields are large.|
|Declines in commodity prices likely to continue through 2015, says WB report|
|October 16, 2014--Prices of most commodities, particularly oil, are expected to remain weak for the remainder of this year and through much of 2015, says the World Bank's latest issue of Commodity Markets Outlook, released today.|
|Deutsche Borse partners with African Stock Exchange|
|First pan-African exchange to open in 2015 / Easier access for Xetra users to markets in Africa |
October 16, 2014-- The African Stock Exchange (AFSX) plans to use the technology and support services of Deutsche Börse's Xetra trading venue. The AFSX is a start-up based in Mauritius with the objective of offering securities trading for the whole of Africa. Xetra trading participants will have easier access to the African financial markets in future through the Deutsche Börse infrastructure.
|World's Risks Loom Large at Annual Meetings|
|October 11, 2014--Ebola, climate change, lack of money for crucial infrastructure- the world's risks loomed large as the World Bank Group-IMF Annual Meetings drew to a close. But solutions, too, were on the table.|
|Corrigendum: IOSCO Securities Market Risk Outlook 2014-15|
|October 10, 2014--It has come to IOSCO's attention that two charts published in its Securities Market Risk Outlook 2014-15 have raised concerns regarding the accuracy of the underlying data on which the charts are based.|
|Government kicks off first RMB bond deal|
|October 9, 2014--Three major banks have been appointed by the government following a fair and rigorous process to help deliver the planned sale of Britain's RMB bond.|
|World Bank Group Launches New Global Infrastructure Facility|
|Move paves way for institutional investors to help fill infrastructure gaps in developing world: US$1 trillion a year in extra investment needed through 2020.|
October 9, 2014--The heads of some of the world's largest asset management and private equity firms, pension and insurance funds, and commercial banks are today joining multilateral development institutions and donor nations to work as partners in a new Global Infrastructure Facility (GIF)
|Cloudy Outlook for Growth in Emerging Europe and Central Asia|
|Ukraine Crisis has Impact, but Long-Term Reform Challenges also Remain
October 8, 2014--Growth in the Emerging Europe and Central Asia (ECA) region remains tepid, with GDP growth for the region expected to be only 1.8 percent in 2014 and improving slightly up to 2.1 percent for 2015, the World Bank said during the 2014 World Bank/IMF Annual Meetings.
|ETFS Research Note-Platinum and Palladium: Price Corrections Bring Opportunity|
|October 7, 2014--Summary
Platinum and palladium prices have fallen sharply over the past weeks, with platinum now trading more than 10% below its estimated marginal cost of production.
|According to ETFGI ETFs and ETPs globally have gathered a record 199.0 billion US dollars in net new assets through the end of Q3 2014|
|October 7, 2014--ETFGI's research finds ETFs and ETPs globally have gathered a record 199.0 billion US dollars in net new assets through the end of Q3 2014, surpassing the previous high of US$185.8 Bn set in the first three quarters of 2012.|
|IMF World Economic Outlook (WEO) Legacies, Clouds, Uncertainties-October 2014|
|October 7, 2014--Despite setbacks, an uneven global recovery continues. Largely due to weaker-than-expected global activity in the first half of 2014, the growth forecast for the world economy has been revised downward to 3.3 percent for this year, 0.4 percentage point lower than in the April 2014 World Economic Outlook (WEO). The global growth projection for 2015 was lowered to 3.8 percent.|
|WEF-Mainstreaming Impact Investing: A practical guide|
|September 16, 2014--Charting the Course: How Mainstream Investors can Design Visionary and Pragmatic Impact Investing Strategies, is the culmination of a year-long research effort with investors to demonstrate concrete strategies for how for-profit companies can create transformational positive social impact.|
|BIS-Proposals to improve the operational risk capital frame work released by the Basel Committee|
|October 6, 2014--The Basel Committee has today released for consultation a revised standardised approach for measuring operational risk capital. The existing framework sets out different approaches that banks may use to calculate their operational risk capital requirement.|
|Nigeria: As U.S. Shuts Its Door On Nigeria's Oil Exports|
|October 3, 2014--Nigeria has become the first country to completely stop selling oil to the United States of America, the world's largest oil producer and consumer,|
|IMF-Emerging Market Volatility: Lessons from The Taper Tantrum|
|October 3, 2014-- Summary: Accommodative monetary policies in advanced economies have spurred increased capital inflows into emerging markets since the global financial crisis. Starting in May 2013, when the Federal Reserve publicly discussed its plans for tapering unconventional monetary policies, these emerging markets have experienced financial turbulence at the same that their domestic economic activity has slowed.|
|IOSCO Launches Second Securities Markets Risk Outlook|
|October 1. 2014--The International Organization of Securities Commissions (IOSCO) today published the IOSCO Securities Markets Risk Outlook 2014-2015. The Outlook is a forward-looking report focusing on identifying potential risks in securities markets.|
|Risk Taking, Liquidity, and Shadow Banking: Curbing Excess While Promoting Growth|
|October 1, 2014--The October 2014 Global Financial Stability Report (GFSR) finds that six years after the start of the crisis, the global economic recovery continues to rely heavily on accommodative monetary policies in advanced economies.|
|IMF Survey-Shadow Banking Is Boon, Bane for Financial System|
|October 1, 2014--Shadow banking differs between countries,shares same underlying drivers
Shadow banking contributes substantially to financial risks in United States,much less in Europe
Regulators should work together to avoid risks migrating
Shadow banking is both a boon and a bane for countries,and to reap its benefits,policymakers should minimize the risks it poses to the overall financial system.
|Emirates REIT to join FTSE Global Emerging Markets Index|
|October 1, 2014--Emirates REIT said on Wednesday it has been selected to join the FTSE EPRA/NAREIT Global Emerging Markets Index, becoming the fourth UAE company to join the index.|
|World Economic Outlook (WEO), October 2014: Legacies, Clouds, Uncertainties- Analytical Chapters|
|September 30, 2014---Chapter 3: Is It Time for an Infrastructure Push? The Macroeconomic Effects of Public Investment|
This chapter finds that increased public infrastructure investment raises output in both the short and long term, particularly during periods of economic slack and when investment efficiency is high.