Embracing the Future: A Recap of the PASLA Securities Lending Conference

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BBH was well represented at the 15th Annual Pan Asia Securities Lending Association (PASLA) conference, held in Hong Kong the week of March 5.  Tom Poppey, BBH’s Global Head of Securities Lending Product Development and Client & Program Management served as co-chair of the conference.  The theme of the event was “Embracing the Future”  offering attendees unique perspectives on what to expect from both regulatory and economic influences on the securities lending market.  Continue reading

EM Preview for the Week Ahead

blog-icons-empreview emerging markets previewEM ended Friday under renewed selling pressures, and capped off a mostly softer week.  COP, THB, and TWD were the best performers last week, while TRY, RUB, and ZAR were the worst.  Despite a widely expected 25 bp hike, this week’s FOMC meeting still has potential to weigh on EM. Continue reading

Will the Fed Rate Hike be Dollar Bullish?

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The dollar’s technical tone is mixed.  Contrary to our expectations, the dollar-bloc currencies underperformed.  Still, the Dollar Index gained for its fourth consecutive week.  The 10-year Treasury yield flirted with 2.80% before recovering toward the middle of the recent range.  The dollar continues to be pinned in its trough against the yen, but given unfolding scandal, the approaching fiscal year end, and risk-off sentiment may continue to support the yen.  

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What Has Changed in EM

IconHong Kong may impose a tax on unsold apartments as an effort to increase supply and cool off the housing market.  Bank of Israel’s MPC had a split vote last month for the first time in three years.  South Africa President Ramaphosa said the ANC wants Julius Malema of the opposition EFF to rejoin the party.  Former South Africa President Zuma will face trial on 16 criminal charges. Continue reading

Dollar Mixed As Markets Await Fresh Drivers

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  • With the flurry of major US economic data out of the way, the FX market is searching for direction
  • During the North American session, the US reports some minor data points
  • Swiss National Bank kept policy steady, as expected; so too did Norway’s Norges Bank but it adjusted its expected rate path upward
  • The White House tapped market economist and television commentator Larry Kudlow to replace Gary Cohn
  • Czech Republic reported strong January data; Poland February CPI rose 1.4% y/y

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