This week the US are seeing increased demand for Overstock.com Inc. as interest and speculation grows around Bitcoin. Korean pharmaceutical manufacturer Celltrion Inc’s market value surged by over USD 8 billion in seven days making it the third largest company on the Korean stock exchange. Whilst in Europe, Tele2 AB’s acquisition of Com Hem Holding AB creates Sweden’s second largest mobile service and fixed broad band provider.
Market sentiment turned decisively negative toward the US dollar, which, while stretched technically, is strong downside momentum.
BOJ’s Kuroda remains committed to supportive monetary policy.
Bank of Canada is likely be the first major central bank to hike rates this year–this week.
Growth and market-based measures of inflation in the US are rising.
EM FX continues to rally as the dollar remains on its back foot. With no obvious drivers this week that might help the dollar, we believe EM FX can extend the recent gains. Still, we continue to advise caution when investing in EM, as differentiation should again become evident as idiosyncratic risks remain in play. Continue reading
An examination of uncharted legal waters.
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