Founder and CEO, Europacifica Consulting

Naomi Fink

Founder and CEO

Europacifica Consulting

Macroeconomics

The Bank of Japan July policy meeting ends tomorrow (Friday 29 July), and markets remain divided as to its outcome.   Although expectations of easing are building (including, according to Nikkei reports, within the BOJ), we see reasons why the BOJ may choose to adopt more modest easing measures than markets expect.Earlier this week, markets were not greatly surprised by the Fed’s upbeat tone on 27 July, but as the FOMC left rates on hold, judging that  “[n<a href="https://www.federalreserve.gov/newsevents/press/monetary/20160727a.htm" target="_blank">]ear-term risks to the economic outlook</a>…

The Bank of Japan July policy meeting ends tomorrow (Friday 29 July), and markets remain divided as to its outcome.   Although expectations of easing are building (including, according to Nikkei reports, within the BOJ), we see reasons why the BOJ may choose to adopt more modest easing measures than markets expect.Earlier this week, markets were not greatly surprised by the Fed’s upbeat tone on 27 July, but as the FOMC left rates on hold, judging that  “[n]ear-term risks to the economic outlook…

Founder-CEO & Chief Analyst, Real Estate Foresight

Robert Ciemniak

Founder-CEO & Chief Analyst

Real Estate Foresight

Since 2012, REF has been helping investors with market research, project due diligence, and strategy development. This has ranged from detailed assessments and estimates on distressed developers' project portfolios to market due diligence on specific projects to macro-level questions linked to demand for commodities. The unique combination of the housing markets and developer data from data partner China Index Academy in Beijing, primary research, and technology-powered alternative data collection from public sources result in a valuable content set used in REF analytics and reports.

Predictive Analytics for China Property

Thematic (Sector/Industry)

With global capital flows in real estate at historical highs, property investors need to pay greater attention to currency dynamics across the world, even if their performance is measured on local currency basis. We have updated our currency impact tables post-Brexit for USD, EUR, JPY, AUD, GBP and CNY. We make a simple assumption that a property investor uses his/her domestic 'investor' currency to buy assets in 'investment' currency at a spot rate on a given start date and then repatriates…

With global capital flows in real estate at historical highs, property investors need to pay greater attention to currency dynamics across the world, even if their performance is measured on local currency basis. We have updated our currency impact tables post-Brexit for USD, EUR, JPY, AUD, GBP and CNY. We make a simple assumption that a property investor uses his/her domestic 'investor' currency to buy assets in 'investment' currency at a spot rate on a given start date and then repatriates…

Post-Brexit Currency Impact Tables - For International Property Investors

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

The Brexit vote result is a clear negative for independent investment banks, and major banks with sizable crossborder transaction flows to a lesser extent. We plan to reduce the fair value estimates for Nomura Holdings as the company remains poorly positioned as a subscale investment bank with high conduct risk and repeated failures in expanding the global fixed income franchise. Nomura makes significant use of three subsidiaries under European Economic Area, or EEA, passporting privileges to reach its wholesale clients in continental Europe. For other banks, the impacts are likely to be less acute relative to Nomura as they do not hold too many derivative contracts under United Kingdom entities, and their direct exposures are largely limited to traditional lending functions to support foreign subsidiaries of the Japanese parent companies.Analysts: Mari Kumagai &amp; Michael Wu, CAIA

The Brexit vote result is a clear negative for independent investment banks, and major banks with sizable crossborder transaction flows to a lesser extent. We plan to reduce the fair value estimates for Nomura Holdings as the company remains poorly positioned as a subscale investment bank with high conduct risk and repeated failures in expanding the global fixed income franchise. Nomura makes significant use of three subsidiaries under European Economic Area, or EEA, passporting privileges to reach its wholesale clients in continental Europe. For other banks, the impacts are likely to be less acute relative to Nomura as they do not hold too many derivative contracts under United Kingdom entities, and their direct exposures are largely limited to traditional lending functions to support foreign subsidiaries of the Japanese parent companies.Analysts: Mari Kumagai &amp; Michael Wu, CAIA

The Brexit Vote Result Means Additional Headwinds ForJapanese Banks

FX Strategist

Greg Gibbs

Fundamental analysis of topical themes in FX

Amplifying Global FX Capital

Amplifying Global FX Capital was founded in 2015 and is fully owned by Greg Gibbs. It is a registered company both in Australia and Colorado, USA and is a licensed in Australia to provide financial services.

We are producing a regular trading view orientated macroeconomic analysis of topical themes in global financial markets, with a particular focus on foreign exchange. We invite you to view an “executive summary” of these reports in “AmpGFX Reports” under our “Research” menu.

These reports are drawn from the analysis of Greg Gibbs and inform the capital management he undertakes on behalf of the company. The trading performance is posted periodically on our website. We aim to build our company into both a research and capital management business. We are currently in the planning phase for managing capital for wholesale customers.

Greg Gibbs has spent his working life of more than 26 years in financial markets, beginning in 1989 at the Reserve Bank of Australia, after completing a Bachelor of Economics Degree (Honours) at the Australian National University. He has been a CFA Charterholder since 2005. He has worked in Sydney, Singapore, New York and London for major global banks and presented on foreign exchange markets to major financial institutions and companies around the world, and maintained a high profile in the financial media.

Before Amplifying Global FX Capital, Greg was the Head of Asia Pacific Market Strategy at the Royal Bank of Scotland based Singapore. He now resides in Breckenridge Colorado.

Global equities look tired and are exhibiting investor fears over diminishing capacity for and returns from further global monetary policy easing.  Policymakers are admitting problems and looking more impatiently to governments to step up efforts to stimulate growth with fiscal stimulus and structural reform.  However, significant progress on this front almost seems hopeless and central banks are being forced reluctantly to do more.  These same fears have returned in China with its capital markets displaying a lack of confidence in the sustainability of policies aimed at boosting growth, as rapid credit expansion yields little overall economic advance. In this environment we expect gold to continue its advance.  However, gold has been boosted recently by the surge in JPY and overall weakness in the USD.  These trends may be tired with Japanese policy makers stepping up their threats of intervention and further policy easing, while US rate hike expectations have been pushed further out and strength in US labor data this week may support the USD.  As such we now see long gold/short JPY as offering a better reward for risk.

Global equities look tired and are exhibiting investor fears over diminishing capacity for and returns from further global monetary policy easing.  Policymakers are admitting problems and looking more impatiently to governments to step up efforts to stimulate growth with fiscal stimulus and structural reform.  However, significant progress on this front almost seems hopeless and central banks are being forced reluctantly to do more.  These same fears have returned in China with its capital markets displaying a lack of confidence in the sustainability of policies aimed at boosting growth, as rapid credit expansion yields little overall economic advance. In this environment we expect gold to continue its advance.  However, gold has been boosted recently by the surge in JPY and overall weakness in the USD.  These trends may be tired with Japanese policy makers stepping up their threats of intervention and further policy easing, while US rate hike expectations have been pushed further out and strength in US labor data this week may support the USD.  As such we now see long gold/short JPY as offering a better reward for risk.

AmpGFX - Frustration, Despair and Case for Gold/JPY

CEO, CIO, ClearMacro

Mike Simcock

CEO, CIO

Strategic & Tactical Asset Allocation Global Macro

ClearMacro

CIO, & CEO ClearMacro Ltd
An institutional investor with over 25 years experience, laterly having spent 10 years at GIC Singapore SWF. Managng Director, managing Global Macro, FIxed Income (Europe) and Global Credit businesses.
Passionate about utilising technology to enhance portfolio idea generation across global, multi-asset classes and optimisation of the investment process.

Strategic Portfolio returns available from strategic currency allocations. We review ClearMacro's expected returns methodology and the opportunities currently available from strategic currency allocations.

Strategic Portfolio returns available from strategic currency allocations. We review ClearMacro's expected returns methodology and the opportunities currently available from strategic currency allocations.  

Portfolio Return Opportunity from Strategic Currency Allocations?

Japan

Mitsui Fudosan Co., Ltd. provides overall real estate services such as leasing, subdivision, construction, sales, and maintenance of office buildings and residential houses.  The Company also manufactures building materials, operates commercial facilities including hotels and golf places, and provides financial services such as securitization of real estate properties.

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Mitsui Fudosan (8801 JP)

BOJ: The 80 Trillion Yen Question

The Bank of Japan July policy meeting ends tomorrow (Friday 29 July), and markets remain divided as to its outcome. Although expectations of...

Naomi Fink

Post-Brexit Currency Impact Tables - For International Property Investors

With global capital flows in real estate at historical highs, property investors need to pay greater attention to currency dynamics across the...

Robert Ciemniak

The Brexit Vote Result Means Additional Headwinds ForJapanese Banks

The Brexit vote result is a clear negative for independent investment banks, and major banks with sizable crossborder transaction flows to a lesser...

Morningstar, Inc.

AmpGFX - Frustration, Despair and Case for Gold/JPY

Global equities look tired and are exhibiting investor fears over diminishing capacity for and returns from further global monetary policy easing. ...

Greg Gibbs

Portfolio Return Opportunity from Strategic Currency Allocations?

Strategic Portfolio returns available from strategic currency allocations. We review ClearMacro's expected returns methodology and the...

ClearMacro

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