Hong Kong finance chief John Tsang Chun-wah has already called local real estate a bubble.Now he's being even more clear, according to The Standard."If you think that any upward change in the interest rate will have an impact on your finances, then this is not the best time to make a purchase because an interest rate hike is a must - but I cannot say when it will happen," he told the legislative council.Of course this is also self-serving advice, because reduced demand will slow the bubble.Right now Hong Kong apartments cost 20 percent more than they did in 2008, Tsang said.
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In his interview with Forbes, Julian Assange confirmed that the next Wikileaks dump is going to target big business.Obviously, we can barely contain ourselves.We don't know much, but we do know its a U.S bank, and we do know Assange thinks what he has could destroy at least two major financial insitutions.From Forbes:F: Is it a U.S. bank?JA: Yes, it’s a U.S. bank.F: One that still exists?JA: Yes, a big U.S. bank.F: The biggest U.S. bank?JA: No comment.F: So do you have very high impact corporate stuff to release then?JA: I mean, it could take down a bank or two.Full Interview:http://blogs.forbes.com/andygreenberg/2010/11/29/an-interview-with-wikileaks-julian-assange/Read more…
It makes total sense... The German economy is in great shape, it would seem, but the country is increasingly being expected to bear the debts of the rest of the Eurozone, just like everyone else in Europe, it can't print its own currency. So it stands to reason that German bunds wouldn't be the safe-haven everyone assumes them to be.And that's exactly what analysts at Nomura are pointing out, via FT Alphaville.Whereas in the past bund yields traded inversely to the beta of periphery spreads, now they're not.
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The foreign-exchange market is often referred to as the Slaughterhouse where novice traders go to get 'chopped up'. It is one of egos and money, where millions of dollars are won and lost every day and phones are routinely thrown across hectic trading desks. This palpable excitement has led to the explosion of the retail FX market, which has unfortunately spawned a new breed of authors and gurus more than happy to provide misleading and often downright fraudulent information by promising traders riches while making forex trading 'easy'.http://www.amazon.com/Beat-Forex-Dealer-insiders-exchange/dp/0470722088Read more…
HONG KONG (MarketWatch) -- China stocks were under sharp selling pressure late in the morning session Tuesday amid reports that Beijing is preparing to tighten policy as part of efforts to clamp down on inflation.
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